You may have noticed that most self-employed workers have to struggle much with lenders / credit providers when applying for a home loan. But that does not mean that all self-employed borrowers must struggle to obtain financing. You can also consult with self-employed specialist mortgage brokers who make it easier to get approve your home loan.
This simply means that you might need the services of an expert finance broker on your side, who is a specialist provides loans to self-employed. Choose a finance broker who is willing to work on your behalf with lenders / credit providers, which will help you to get a loan package.
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Why you need expert advice?
Before you think it is impossible for self-employed borrowers to get a home loan, you have to sit with an expert and dealer financing qualified professional.
When assessing your eligibility for a home loan, the finance broker should be able to see if your company is to maintain a level of income that is suitable to meet the minimum requirements "maintenance".
If I am self-employed for less than a year:
Well, it is impossible to get a home loan with your employment status; this means that the finance broker will have to work hard to ensure your loan eligibility.
For example, you are now independent as a carpenter subcontractor. But you were employed in the same sector i.e. the line of work, and you worked for someone else for five years before becoming a contractor.
You can still be considered for a home loan. , You are still working because in the same area and you do the same job. The only thing that changed is how you get paid.