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Reap The Benefits of Your Hustle; Self-Employed Dreamers Get the House of Their Dreams!

February 29, 2024Blog, Self Employed Loans0

self employed loans

Don’t let that creative, self-reliant, and strong-headed willpower be an obstacle in dreaming big things! If you aim to build your own empire in America, you are not alone! Along with millions of people who have chosen the path of self-employment for their careers, the rise of self employed loans has increased. It may sound very fascinating to be your own boss and work on your own terms, but it can be quite a challenge to be a one-man army! Your vision needs proper implementation and reflects your personality, and all this requires a lot of time and effort! On top of all these things that you are constantly working on, paying rent can be one thing we would like to take off of your plate!

Challenges for the Self-Employed:

Self-employment is a challenge in many different ways. While it may seem like an unusual idea for many, we understand the doubts you had to face on your way to becoming self-reliant! The first step in becoming self-employed requires being creative and making it work! The idea doesn’t only have to be creative; you need to assess its practicality and functionality to work on realistic grounds. We understand how many ideas you had to shelf before getting that one perfect idea that worked the way you wanted it to! Even Mark Zuckerberg couldn’t nail the concept of Facebook on his first attempt!

The irony of the matter is that this struggle that goes beneath the surface of the iceberg isn’t visible to anyone, and the challenges the self-employed people face don’t really end here! Your unusual income stream already raises questions in people’s minds around you in many ways! Whether you choose to have your startup or work as a freelancer, the idea is challenging for many people to get around as it creates instability and an uncertain income flow.

Self-Employed Loan Application Dilemma with Traditional Banks:

While your income stream isn’t conventional, traditional banks find it hard to get around your documentation process for mortgage applications. The mortgage process requires the borrower to submit proof of income, tax returns, and several other conventional documents to ascertain the credit score that checks your eligibility to apply for loan applications. The entire banking system, including High Debt to Income Ratio, builds around a consistent flow of income. However, with time, people have evolved their ways of earning and resorted to working smart instead of hard! With this financial freedom and choice of working whenever you want come its economic challenges.

If you can Dream it, we can help you achieve it!

Dream Home Mortgage is your dream destination for all your mortgage needs! With the growing trend of self-employment among individuals, there was a dire need to find a creative solution to provide an alternative for the W2s, proof of tax returns, and income statements. The lenders were reluctant to approve self employed loans for apparent reasons, as the non-repayment risk would be much higher when there is no defined income stream. Dream Home Mortgage team stepped into the scenario and was a blessing in disguise for the self-employed community. Dream Home Mortgage differs from the typical bank and has a solution for all your financial needs. Dream Home trusts your credibility and functions on the idea of financial freedom for everyone.

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Why can choosing a Dream Home Mortgage help you if you are self-employed?

If you are self-employed and want to check Dream Home off your bucket list of self employed loans, get an appointment with Dream Home Mortgage lenders. The best mortgage consultants in town believe in transparent communication and facilitating the borrowers in every possible way to go the extra mile, make their journey convenient, and ensure hassle-free closing!

On top of demanding no proof of income or tax returns, Dream Home Mortgage provides the lowest interest rate to give you the support you need! The first step is as easy and straightforward as you can imagine: Get pre-qualified in easy steps and book an appointment with our mortgage consultants to get started towards your dream project. Dream Home Mortgage will find the best solutions that match your financial scenario.

Maintaining an excellent or above-par FICO score to obtain can be challenging in this harsh economy. As scores beyond 680 are perfect, Dream Home gives you the leverage to secure the loan with a FICO score as low as 600! Our mortgage lenders are not asking for credit scores and allow you to get the best out of your self-employed entity with your IITN number.

Dream Home Mortgage doesn’t confine its services to the permanent residents of America; we serve H1-B Visa holders and EAD card holders! Your distinct source of income can also not hold you back from securing the most favorable terms and the kind of loan you want to achieve. Get all types of FHA loans with Debt to income ratio of up to 57% and a Conventional loan with Debt to Income Ratio of up to 49.9%! Dream Home Mortgage lenders assist in finding all kinds of loans that can float your boat, like Jumbo loans, Cash out Mortgage, Reverse Mortgage and many others!

The bank statement showing your timely payments of debts and returns and tracking all your income streams can be the foundation for securing a mortgage plan without tax returns. Your ample down payment will also increase your chances of getting the best loan terms.

Self-Employment Checklist:

With the increased risk at hand for high DTI mortgage lenders, self-employed individuals need to fill in specific prerequisites as proof of their stability and solid financial grounds. Whether you work for another entity or are self-employed, your proof of income will significantly depend on having a registered enterprise in the case of entrepreneurship. Statements from clients and Bank statements showing steady payments can also be a source sufficient enough for proving your self-employment status.

Every penny counts when showing your income stream as proof of your ability to secure the best loan plan for your dream home. Ensure you show all your income streams, such as alimony, job payments, or social security! Your tangible and intangible assets set the tone for your loan application as it ascertains your ability to make ample down payment. A detail of your current debts is also a prime factor that shows your current liabilities and, subsequently, your ability to pay off any further monthly mortgage installments in the future, considering your average monthly income from various sources.

Get approved to see what you can afford.

Dream Home Mortgage® lets you do it all online.

Pre-Qualify Now

Dream Home Mortgage- there’s a solution for all your mortgage problems:

Dream Home Mortgage is a team of expert mortgage consultants that help you recognize your potential and remove any obstacle and hurdle, paving the way for a smooth homeownership journey! Recognized and licensed in all 50 states, Dream Home Mortgage is at your service wherever you envision your dream home to be! With the free consultancy option and the dedication to meet your individual needs, the Dream team leaves no stone unturned to pick the best solutions for you! The open channel consultancy through podcasts and social media is your guiding flag in making you feel comfortable to open up and ask anything! The interest rates and economic conditions fluctuate now and then; the Dream Home Mortgage team is committed to serving you the most favorable terms and conditions! It’s about time you took the step in the right direction and became a homeowner to optimize your worth and equity!


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