What factors can help you secure home financing with limited income and asset documentation

WHAT FACTORS CAN HELPYOU SECURE HOME FINANCING WITH LIMITED INCOME

AND ASSET DOCUMENTATION?

BANKSTATEMENT.LOAN LENDER HOTLINE: 888-581-5008

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As a self-employed person, finding home financing canseem like an impossible task. Lenders want to see taxreturns, W-2s, paystubs and have your employmentverified. What if that person verifying your employmentis you and you do not take a salary from your company?You might think you are left out in the dust with nomortgage financing available, but the opposite is true –there are plenty of opportunities for a mortgage withlimited documentation.



HOME L OAN DOCUMENTA T I ON

S e l f - E m p l o y e dB o r r o w e r

T h e k e y i s t o m a k e s u r e y o u r

l o a n a p p l i c a t i o n a n d f i l e l o o k

a s s a f e a s p o s s i b l e t o a

l e n d e r . J u s t t h e w o r d s “ s e l f -

e m p l o y e d ” s e n d m a n y l e n d e r s

s h i v e r i n g b e c a u s e o f t h e r i s k

l e v e l i t b r i n g s .



Here are a few simple ways to make yourself look like less of a risk:

HIGH CREDIT SCORES

Start off by ensuringthat your credit scoreis as high as possible.

SAVE, SAVE, SAVE

Save up at least 12months’ worth of yourprincipal, interest,taxes, and insurancepayments

INCREASED INCOME

If you can show thatyour business increasedyear after year, you willhave an easier timeobtaining a mortgage.



LARGE DOWNPAYMENT

The more you can putdown, the friendlierbanks become to thefact that you are self-employed.

OWNEROCCUPIED

Lenders prefer owneroccupied, single familyhomes because of thelower risk involved.

Banks prefer a 30-year fixed rate for thepredictability andlower risk of default.

FIXEDTERMS



As long as you can show stabilityand financial responsibility, thereare many loan options out therefor you to choose from!



B A N K S T A T E M E N T . L O A NL E N D E R H O T L I N E : 8 8 8 - 5 8 1 - 5 0 0 8

C L I C K H E R E

T O L E A R N M O R E

BS



Justin McHood is Americas MortgageCommentator and has been providing

Mortgage commentary for over 10 years.

INFORMATION PROVIDED BY:Justin McHood

MORTGAGE COMMENTATOR


http://mortgagecommentator.com/

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What factors can help you secure home financing with limited income and asset documentation

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