Selfemployed

Self-Employed?

Are you self-employed? Let us try an automated underwriting
system to get your loan approved. You may get approved
without having to provide tax returns. With an automated
underwriting approval, some lenders will not bump your rate up
for not providing tax returns.

Another way to qualify is with stated income. You state your
income on the application. Tax returns are not required.

If you have been self-employed for less than one year, a no doc
loan may be your answer. On your application, you do not
disclose your employment, income, or assets. You are approved
based on your credit history and equity in the property.

Providing bank statements is yet another way to qualify. Six to
twenty four months of bank statements are required. The lender
will average the deposits (and in some cases subtract a portion
for expenses) and use the average amount for your income. You
would use this method if you have a large amount of cash
flowing through your account.

As you can see, there are a lot of different ways for
self-employed people to qualify for a loan.

Purchase

Refinance

Construction Loans