Can self-employed buyers qualify for a mortgage? Absolutely. M&I TX Home Team specializes in helping self-employed professionals and business owners achieve homeownership in the DFW area.
Being self-employed shouldn't keep you from owning a home. Irene Chanthapraseut, as a licensed Mortgage Loan Officer, understands the unique challenges self-employed buyers face and works with specialized lenders who offer flexible documentation programs.
Yes! Self-employed buyers can absolutely qualify for a mortgage in Texas. Irene Chanthapraseut works with lenders who specialize in self-employed borrower programs, including bank statement loans, profit & loss statement loans, and non-QM mortgage options.
Documentation requirements vary by program. Common options include: 12-24 months of bank statements, 1-2 years of tax returns, profit & loss statements, business license or verification, and CPA letters. Irene evaluates your situation to determine the best documentation path.
Not necessarily. While some self-employed mortgage programs may require 10-20% down, many programs offer competitive down payment options similar to traditional loans. Irene compares multiple programs to find the best fit for your situation.
A bank statement loan is a mortgage program that uses 12-24 months of personal or business bank statements to verify income, instead of traditional W-2s and tax returns. This is ideal for self-employed buyers whose tax returns may not fully reflect their earning capacity.
It depends on the program. Most lenders require at least 1-2 years of self-employment history. However, some programs may work with newer businesses. Contact M&I TX Home Team to discuss your specific situation.