While learning about the process of applying for a mortgage, you might have read that you need a W-2.
As a self-employed individual, you do not have a W-2, but you can buy a home with a self-employed borrower loan.
What is a Self-Employed Borrower Loan?
A self-employed borrower loan is a mortgage you apply for without using a W-2. The role of the W-2 in the traditional loan application process is income verification. But we are able to use your bank statements to verify your income, so you do not need the W-2.
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Who Should Apply for a Kentucky Self-Employed Borrower Loan?
Consider applying for a self-employed borrower loan if you are:
- Self-employed
- An investor
- A freelancer
- An entrepreneur
- A business owner
Along with helping you avoid the need for a W-2, the self-employed borrower loan process presents a fuller picture of your income. A lot of income is not reported on a W-2. So, even people who have a W-2 should sometimes consider using bank statements to verify their income.
When you discuss your income with us during your consultation, we will be able to tell you whether you should apply for a self-employed borrower mortgage.
Apply Now for a Self-Employed Borrower Loan in Louisville or Beyond
Even though self-employment has become incredibly common, a lot of mortgage companies still do not offer bank statement loans. First Fidelity Mortgage, Inc has years of experience helping self-employed borrowers just like you to move into their dream homes. We are able to help you complete the application steps rapidly and close fast.
Please give us a call at (502) 657-4299 to schedule your consultation. We work with self-employed borrowers in Kentucky, Tennessee, Indiana and Florida.
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.
Get Pre-Approved Today
