Mortgages for Self Employed

If you are self-employed and looking for a mortgage, you may have the wrong idea. Traditional mortgages don’t work for many self-employed individuals. 
Loan Professors is here to help with access to 100+ wholesale lenders that specialize in helping people just like you!
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Self Employed Person Applying For Mortgage - Loan Professors

Self Employed and Looking To Buy A New Home?

You’re not alone. In fact, the self-employed are a fast-growing group of mortgage borrowers. And that means more options for you to get approved for a loan and buy the home of your dreams.

If you’ve been turned down by lenders in the past because they didn’t think you had enough income or assets, we can help! We offer loans with flexible requirements so even if your credit isn’t perfect or your income fluctuates from month to month, there is still hope for getting approved.

Our team will work hard to ensure that every borrower gets their dream home no matter what challenges they face along the way. Let us be your guide through this process and make sure it goes smoothly!

Chat with one of our Loan Experts Today.

We’re available Monday to Friday to answer your questions!

How the Process Works

1

Loan Application

We’ll go over your financials and discuss your goals. While the loan application can be processed as fast as a couple of days, we suggest getting started as early as possible. Ideally a month before starting your home search.
2

Discuss Options

We’ll discuss all the options in detail. If the desired loan scenario is not achieved, we’ll guide you to the path of getting there.
3

Approval

We’ll arm you with your maximum purchasing power and work with your Realtor in helping to secure your dream home.
refinance homes in los angeles

Rules for Self Employed Mortgages

A borrower who owns 25% or more of a business, or is not a W-2 employee, is defined as “self-employed” by lenders. Before you can qualify for a home loan, most mortgage lenders demand at least two years of continuous self-employment. Some borrowers may only have one year of established self-employment, but there is good news.

There are exceptions to the two-year rule for self-employed borrowers. If you can show a two-year history of steady income, lenders may consider your application even if it’s only been one year since you started your business.

There are several different types of mortgages available for self-employed borrowers and each lender has their own guidelines and requirements, so make sure to ask lots of questions before making any decisions about which type of loan is best for you.

It’s also important to note that not all lenders offer all types of loans – some specialize in certain products – so don’t limit yourself by working with just one bank or broker. Shop around until you find the right fit!

Loans to Consider

These are some of the most common loans used for home financing, although there are many more loan options that are available for borrowers with different qualifying criteria.

Cash-Out

Whether you’re looking to consolidate debt, payoff student loans or have any other need, a cash-out refinance allows you to access your home’s equity at a very low rate. 

FHA or VA Streamline

Allows for a quick and easy refinance of your current loan in the event market rates have improved since your previous financing. 

Rate & Term

The most common refinance transaction.  Simply improve the terms of your loan for a better long-term outcome.

Reverse Mortgage

A reverse mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash.

Consolidation

Designed to consolidate all mortgage liens against a property.  The terms of this loan are slightly more favorable than a cash-out loan used to pay off personal debt.

Renovation

This program allows the homeowner to borrow the entire rehab cost and use the after-rehab value for qualification purposes.

Great Experience with Loan Professors in Tarzana, CA
Moe and Michael are extremely professional and helped us Refinance our HELOC Loan to a Low Interest 30 Year Fixed. The process was Fast and we "Closed On Time!"
Would Highly recommend Loan Professors for New Home Loan or Refinance when your Bank of many years tells you "No Thanks"

Ted L.Refinance

"Our loan officer, MOE GHAZI, was extremely responsive and knowledgeable, and our loan was processed quickly and accurately. A great experience. He was always available to answer our questions and went above and beyond to help make this process go smoothly.

Edith EInvestment Property

Can't recommend them highly enough! We had a pretty crazy situation going for us as we went through this process and it made the world of difference to have this team on our side. Not only were they professional, and knew what they were doing, they were also empathetic and went above and beyond. We got an amazing deal at the end and have since referred family members to Loan Professors.

Amir A.Buyer, Investment Property

Great service!! Worked with Moe and went above and beyond. Awesome guy to work with and makes it easy for you. Thank you Moe!!

Gilbert P.Home Buyer

Questions? Speak to our mortgage exeperts Today.

We’re available Monday to Friday to answer your questions!