Leave a Message

Thank you for your message. We will be in touch with you shortly.

How Hard Is It For Self-Employed People To Get A Mortgage?

WRE News July 28, 2023

Buyer

How Hard Is It For Self-Employed People To Get A Mortgage?

Many people dream of being their own boss. And with good reason –multiple studies link self-employment with higher job satisfaction and enhanced physical well-being.

As of July 2022, 16.4 million out of 158.1 million Americans were self-employed, which represents 10% of the workforce, according to the U.S. Bureau of Labor Statistics. And that percentage is likely to increase since self-employment among Americans has been on the rise for the past decade.

Yet self-employment is not without hardships. Getting loans can be difficult, especially home mortgages. However, this shouldn’t deter self-employed mortgage seekers. Getting a loan may seem daunting, but it’s easier than ever for the self-employed to find mortgage loans with competitive rates and customizable options.

 

FIND A LENDER SPECIALIZING IN SELF-EMPLOYMENT INCOME

With a steady job and a W-2, it isn’t hard to qualify for loans, provided the borrower meets income and credit requirements.

Self-employed people can have more challenges due to the variability of their income.

Using a lender familiar with self-employment is the number one factor in finding a suitable loan, said Caliber Home Loans senior executive loan consultant John Ammar in an interview. Caliber Loans is a direct lender specializing in self-employment income.


Recent Blog Posts

Stay up to date on the latest real estate trends.

Lifestyle

3 Ways Parents Protect Kids From Social Media’s Mental Health Effects

December 21, 2024

Parents are increasingly aware that too much time on social media can harm kids’ and teens’ mental health.

Lifestyle

Christmas Star 2024: When To Show Your Kids The ‘Star Of Bethlehem’ Tonight

December 21, 2024

What’s the bright star in the east — and west?

Lifestyle

20 Innovative Breakthroughs That Will Transform Your Health

December 21, 2024

There are always new frontiers in health care: diseases whose treatment and cures still elude us; biological and medical mysteries that we’re yet to crack; public heal… Read more

Buyer

‘Silver Tsunami’ of Aging Boomers With $17 Trillion in Home Equity Will Trigger Wave of Wealth for Their Kids

December 20, 2024

Children of baby boomers are set to be on the receiving end of one of the largest generational wealth transfers in history as their parents prepare to bequeath them a … Read more

Buyer

Title Insurance Premium Volume Up 5.3% in Q3

December 20, 2024

The title insurance industry generated $4.3 billion in title insurance premiums during the third quarter, according to new data from the American Land Title Associatio… Read more

Lifestyle

Michael Phelps Says These 2 Parenting Tricks Are His Key To Raising Mentally Healthy Kids

December 20, 2024

When Olympic swimmer Michael Phelps wakes up in the morning, he asks himself how he can be his best self that day, not only for his own mental health, but also for his… Read more

We are Your GPS to Success Let’s Get Started

We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today

Follow Us On Instagram