Self-Employed Loans | Level Up Mortgage Lending

Self Employed Home Loans

Self-employed home loans, also known as "non-QM loans," are a type of mortgage designed for self-employed borrowers who may not meet the traditional lending requirements. These loans take into account a borrower's income, which may fluctuate and can be difficult to document. Self-employed home loans typically require a larger down payment and a higher credit score than traditional loans, but they offer more flexible qualification requirements.

Self-employed borrowers may also need to provide additional documentation to prove their income, such as bank statements, profit and loss statements, and tax returns. Overall, self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.

Self-Employed Loans | Level Up Mortgage Lending

Self Employed Loan Characteristics

1) Self-employed home loans are designed for borrowers who are self-employed or have irregular income

2) Self-employed home loans typically require a larger down payment and higher credit score than traditional loans

3) Borrowers may need to provide additional documentation to prove their income, such as bank statements, profit and loss statements, and tax returns

4) These loans offer more flexible qualification requirements than traditional loans

5) Self-employed home loans may have higher interest rates compared to traditional loans

6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property

7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.

Self-Employed Loans | Level Up Mortgage Lending
Self-Employed Loans | Level Up Mortgage Lending

5) Self-employed home loans may have higher interest rates compared to traditional loans

6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property

7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.

HOW CAN WE HELP YOU TODAY?

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Purchase a Home

There’s nothing better than raising your kids on your own home. We can help you with just a few simple steps to unlocking that American Dream of home ownership.

Rate & Term Refinance

It’s never too soon to start saving money on your monthly mortgage. Rate & Term Refinancing will save you tens of thousands of dollars over the life of your loan.

Cash-out Refinance

Too often the biggest access to cash is a homeowners equity. Remodel your home, pay down debts or take that dream vacation, Cash out Refinance is your ticket out of “Equity-Jail”.

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Looking to renovate a home? We have options. Give us a call and we will help you get your project funded.

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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov

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A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov