Mortgages for Self Employed
Self-Employed Borrowers: Turning Your Entrepreneurial Dream Into a Home
In today’s world, more people are embracing entrepreneurship and chasing their dreams of building something of their own. Whether you’re a freelancer, a business owner, or working independently, being self-employed comes with its rewards — and its challenges, especially when it comes to applying for a mortgage
Unlike traditional employees who receive a steady paycheck, self-employed individuals often have fluctuating incomes and might draw less on their business to minimize taxes. This can make securing a mortgage feel like an uphill battle.
But here’s the good news: A self-employed mortgage is designed to help you. Lenders understand the challenges of income inconsistency, and we’re here to guide you through the process, making it easier to secure the financing you need for your dream home.
Key Things Lenders Look For When You're Self-Employed:
Proof of Income:
Self-employed borrowers typically need to show tax returns (usually for the past 2 years), bank statements, and profit & loss statements to demonstrate the stability of their income.
Down Payment:
The more you can put down, the better your chances of securing a mortgage. A larger down payment might help offset some of the perceived risk.
Credit Score:
Just like traditional borrowers, your credit score plays a crucial role in securing your mortgage. A strong score will help you get the best rates.
The Sagen Alt. A Program: Tailored Mortgage Solutions for Self-Employed Borrowers
If you’re self-employed and looking to secure a mortgage, Sagen’s Alt. A Program could be your perfect fit. This specialized program is designed to help individuals like you qualify for mortgage financing, even with the unique financial situation that comes with self-employment.
Features of Sagen's Alt. A Program:
Available for purchases and refinances
Whether you’re buying your first home or refinancing an existing property, this program is versatile and adaptable.
Can finance up to 90% on purchases
You can qualify for a mortgage with just 10% down.
Competitive mortgage rates
Get a fair rate that works for your budget.
lightly higher insurance premiums
While premiums may be slightly higher than standard rates, the flexibility and opportunity provided by this program outweigh the costs.
How We Help Self-Employed Borrowers:
At Brokers for Life, we specialize in working with self-employed individuals, helping them navigate the mortgage process with ease. Whether you’re looking to purchase a home or refinance, we’ll help you find the right mortgage that fits your unique financial situation.
Ready to Turn Your Dreams into Reality?
With the right support and guidance, being self-employed shouldn’t be a barrier to owning your home. Reach out today, and let’s explore your mortgage options!
