In this episode, I break down the process of securing a home loan as a self-employed borrower, addressing common misconceptions and revealing the flexible financing options available. While many believe that being self-employed makes homeownership significantly more difficult due to business write-offs and fluctuating income, you'll hear why that’s not necessarily the case.
We’ll explore traditional loan requirements, such as two years of tax returns, and discuss exceptions that could allow self-employed buyers to qualify sooner. Learn how factors like career stability, industry experience, and the way you report your income can impact loan eligibility. This episode also highlights alternative financing options, including bank statement loans, profit and loss statement lending, and asset-based loans—each designed to help self-employed buyers overcome qualification hurdles and secure a mortgage without waiting for tax returns to reflect their true earning potential.
Whether you're a freelancer, entrepreneur, or business owner, this episode offers valuable insight into how to navigate the mortgage process and find the right loan solution. Tune in to learn how self-employed buyers can take control of their homeownership journey with the right strategy and lender guidance!
Interested in connecting?
HOST
Ryan Richards | Branch Manager, Northpoint Mortgage | NMLS 1987735
rrichards@trynorthpoint.com | www.financewithteamrichards.com
204 Turnpike Rd, Westborough, MA 01581
Licensed in MA, CT, FL, NC, NH, PA, RI
Follow us on Instagram @financewithteamrichards
