A lot of people that I work with mostly deal with business owners. I'm a Real Estate Agent, so I help a lot of business owners to be able to do business and to be able to buy homes.
Being self-employed can make borrowing for a loan complicated. But this doesn't mean you're out of luck when it comes to applying for a loan.
Here are some ways to apply for a loan when you are self-employed:
Tax returns and tax transcripts
Bank statements and bank deposits
Be an owner of your company or an entrepreneur.
Tax returns and tax transcripts
There are some ways that we could put it together with some programs that my lender friends could offer to you that will allow you to take a look at your bank statements to get qualified rather than your tax returns.
Bank statements and bank deposits
Some programs can come in with as little as 10% down, no PMI, and buy a home. If you have substantial bank deposits, or you're depositing enough income into your bank account to keep up with the monthly installment payment - they could qualify you based on that.
Be an owner of your company or an entrepreneur
The reality is that as a self-employed person, entrepreneur, and business owner, you can buy a home and get qualified.
While your business is being run, the lower the profit margin, the fewer taxes you pay, something like that. Sometimes, you may be purchasing assets for your business to lower that profit and pay less tax.
There are other ways, and there are other available programs as well. So regardless if you are an entrepreneur or a self-employed person, and you're asking, "Hey, do I qualify?" "What do I need to do?" Reach out to me.
My name is Dan Rochon. I've been selling homes in Northern Virginia since early 2007. There's not a space, nook, or cranny that I don't know in the area here. You can call me; you can text me; you can email me day and night. If I don't answer the phone, I'll get back to you in a reasonable amount of time.
I look forward to helping you and answering your questions. Thanks!
If you're interested to learn more about Real Estate Investing or tips and strategies about Real Estate, you can reach me at 703-346-2776 or send me an email at Dan@greetingsvirginia.com. We will be more than happy to help you.
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