Self Employed Mortgages
What is a Self Employed Mortgages
A self employed mortgage is a loan that is provided to a self employed individual or business owner. Commonly, a self employed mortgage is provided to purchase, refinance, or access equity in a property for business capital.
Financial institutions have strict lending criteria and it can often be difficult to obtain a self employed mortgage. In contrast, private lenders are less stringent and use common sense underwriting. Private lenders are focused on equity, rather than income or credit.
A self employed mortgage can be registered against your property as a first mortgage, second mortgage, or third mortgage. We help self employed individuals and business owners obtain self employed mortgages as property owners and property buyers.
Commonly, self employed mortgages are provided as second mortgages. The reason for this is because most property owners already have an existing first mortgage with a low rate. Therefore, it is more financially feasible to obtain a smaller second mortgage than refinance the whole property. Self employed mortgages are also frequently obtained for short term goals that eventually lead to meeting long term objectives.
How to Qualify for a Self Employed Mortgages
To qualify for a self employed mortgage, you must have sufficient equity or down payment.
We are an equity-based lender. Regardless of income or credit, if there is sufficient equity, you are approved.
Get a Self Employed Mortgages
Interested in getting a self employed mortgage?
Contact us to get started.