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

WRE News July 28, 2023


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.



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.

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