How Do Self-Employed People Apply for a Mortgage?
We have Ronald Stanley here again with mortgage tips!
So not everyone is a W-2 employee.
Here are some products the self-employed/entrepreneurs can utilize when applying for a mortgage.
One of the biggest concerns with people who are self-employed is they make a lot of money but they're able to take advantage of their write offs.
And sometimes it is a disadvantage to write off a whole lot of stuff when you are applying for a traditional bank loan.
At Guaranteed Rate, they have programs where basically they can qualify you off of your bank statement deposits.
Bank statements is a popular product for people who are self-employed or are entrepreneurs.