![]() ![]() While I agree with article published by Fox Business, I also believe that the approval process can be made a lot easier by utilizing a mortgage broker who is familiar with how lenders handle applications from self-employed people. "Qualifying for a mortgage is absolutely more complicated for a self-employed person than for a person who works for an employer. While lenders might be particular about which self-employed individuals will be granted a loan, there are often ways around the complexities. Ruedy believes that people who are self-employed should not give up their quest to obtain a mortgage. I believe if more mortgage brokers were committed to the success of their self-employed clients, more people would be offered loans." - Jason M. ![]() This often requires substantial time and effort that many mortgage brokers are unwilling to provide. A significant percentage of the population in the United States is self-employed and I've made a commitment to helping them find the best possible mortgage. "I've helped many self-employed people through the loan application and closing process, and I've personally witnessed the challenges these individuals often face. The article also states, "Lenders use several factors to determine if they will give someone a mortgage, but the credit score situation seems to be hurting self-employed people the most." Because lenders often require more documentation and information from self-employed individuals, a mortgage broker must be willing to put in additional time and effort to ensure the client receives mortgage approval.Īn article published on Decemby Fox Business entitled Mortgage Lenders Tough on Self-Employed states, "Despite the fact that 6.6% of the U.S.-based working population is self-employed and many enjoy high incomes, self-employed borrowers receive 40% fewer purchase loan quotes." However, his opinion is that a mortgage broker can play an important role in the mortgage approval process. Ruedy is in agreement that many self-employed individuals have faced extreme difficulty finding a willing mortgage lender over the past several years. ![]() Don't Put Your Loan In Danger, Call The Loan Arranger Post this ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |