Self-Employed and Need a Mortgage? Coble Capital Group Mortgage Company has Bank Statement Solutions for Self-Employed Homebuyers in South Carolina
Struggling to prove income as a self-employed buyer? Our bank statement solutions could be the key to unlocking your dream home!
Owning a home is a dream for many, but for self-employed this comes with unique challenges. Traditional mortgage requirements often rely on tax returns for self-employed borrowers, but we have solutions that won't have a negative impact your tax liability.
Bank statement loans are one solution. These loans are designed to cater to the needs of self-employed individuals who may have non-traditional income documentation. Rather than relying on tax returns and W-2 forms, bank statement loans allow borrowers to use their personal or business bank statements to verify their income. This can be a game-changer for self-employed homebuyers who have a solid financial history but may not have the conventional documents to prove it.
It's important to note that bank statement loans are not one-size-fits-all, and the specific requirements and terms can vary between lenders, but as a mortgage broker, we have several lenders to meet most of our client's situations.
If you're a self-employed individual considering homeownership, here are some suggestions to help you navigate the process and reach your desired goals:
1. Organize Your Financial Documentation: Bank statement loans require 12-24 months of bank statements to document income. Take the time to gather and organize your personal and business bank statements.
2. Give us a call to discuss your situation and goals. We are experienced with bank statement loans and can set you up for success. We can provide personalized guidance based on your specific circumstances.
3. Be Prepared to Discuss Your Finances: When applying for a bank statement loan, be ready to have open and transparent conversations about your income, expenses, and financial history. This ensures we can tailor a solution that meets your needs and set expectations, and what to expect.
4. Explore Your Options: While bank statement loans can be an excellent solution for self-employed homebuyers, we make sure that is the best option for you by also reviewing your tax returns first to make the determination of which route is best for you.
5. Get Ready to be a Homeowner!
Navigating homeownership as a self-employed individual may come with its challenges, but with the right guidance and understanding of bank statement solutions, it is absolutely achievable! If you're ready to take the next step toward owning your dream home, contact us today: 843-412-1499
Coble Capital Group, LLC NMLS 2499100
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