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Self Employed Mortgages

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Obtaining a self employed mortgage in New York presents it’s own unique challenges in today’s market. Keeping meticulous income records and being able to verify them is no longer enough to smooth the mortgage waters. Lenders have tightened restrictions and it has become much more difficult to obtain the needed financing even for those with an established long term business.

This may seem to almost be a penalty for following the American dream, it does not have to be. There are still lenders who are willing to work with the self employed customer and provide a decent rate as well as an affordable loan. It may take some time to find them, but in the end it will be worth the search.

The past housing boom that was fueled by what were termed stated income loans and nicknamed “liar’s loans” makes it more difficult for lenders to trust what is on the statement of income, no matter how well documented it is. When dealing directly with these individual lenders, the potential home buyer can be stalled for weeks, and in some cases months, while they check and re-check every little detail of your financial records.

When preparing to apply for a self employed mortgage in New York, it may be to your advantage to start the process by going to our company Centex Capital. We are familiar with all aspects of New York mortgage, and will be able to streamline your self employed mortgage application process.

We will have access to many different lenders and will be able to submit your information to them, finding the best loan for your budget and needs. This will give you options when it comes to choosing which lender to use for your home purchase.

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Contact us to see if you qualify for a Self Employed Mortgage. Email us or call now (800)842-2910.

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