Mortgage & Real Estate Articles

Mortgage Rates and Trends: What Every Self-Employed Homeowner Should Know

By: Phong Truong

Published on: 05/10/2024

Being self-employed has many advantages, from flexibility to being your own boss. However, when it comes to securing a mortgage, self-employed individuals often face more hurdles compared to salaried employees. Lenders view self-employed borrowers as higher risk due to income variability, complex financial documentation, and fluctuating cash flows. On top of this, understanding mortgage rates and trends is essential, as small changes in interest rates can significantly affect the affordability of homeownership and refinancing opportunities.

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What Self-Employed Borrowers Need to Know About Mortgage Rates and Trends

By: Phong Truong

Published on: 28/09/2024

Securing a mortgage can be a challenging task for self-employed individuals, particularly due to the inherent variability of income and the complex documentation requirements compared to salaried workers. When it comes to buying a home or refinancing a mortgage, understanding mortgage rates and the trends that influence them is critical for self-employed borrowers. This knowledge allows them to make informed decisions about when to apply for a mortgage, how to prepare, and what options are available that cater specifically to their needs.

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Building Your Financial Profile: Tips for Self-Employed Borrowers Seeking a Mortgage

By: Phong Truong

Published on: 24/09/2024

For self-employed individuals, achieving homeownership can feel like a challenging process. Unlike traditional salaried workers who have steady paychecks, self-employed borrowers often face difficulties when applying for mortgages due to irregular income streams, tax deductions, and more stringent documentation requirements. However, by taking proactive steps to build a solid financial profile, self-employed individuals can increase their chances of securing a mortgage.

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Mortgage Options for the Self-Employed: How to Qualify with Variable Income

By: Phong Truong

Published on: 23/09/2024

Being self-employed comes with many benefits, such as flexibility and independence. However, when it comes to securing a mortgage, self-employed individuals often face unique challenges, especially if their income varies from month to month. Traditional mortgage lenders tend to prefer borrowers with steady, predictable income, which can make the process more difficult for entrepreneurs, freelancers, and gig workers. Despite these challenges, it’s entirely possible for self-employed individuals to qualify for a mortgage, provided they prepare thoroughly and understand their options.

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