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Are you self-employed?

Would you believe that current trends indicate that there are more self-employed women than men? It's true. And speaking of beliefs, many self-employed people believe they are not eligible to obtain a mortgage. Well, we're glad to say that's not true!

As of April 2010, the rules for assesing risk on a self employed credit application changed for high ratio financing (over 80% of the value of your home.)  For typical bank financing you require a minimum of 10% down payment for purchases and if you're taking out equity out of an existing property the maximum loan you can qualify for is 85% of the value of our property or a total of $200,000 in new funds.  Sound complicated?  It is, sort of.

What can you expect from us?  We will assess your income and decide what category of self employment you are.  We will organize your information and discuss your options with you.  Once you have all the facts you will be able to decide what mortgage is best for you.  

Lenders have learned to understand the difference between self-employed and UN-employed. We have lenders who want your business and they have a lot of very good mortgage products to offer you.

Give us a call. We can help you with the all-important mortgage strategy and help you make an informed decision. There's no reason to take a risk, we can get you the mortgage financing you’re looking for!

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Mortgages for Women is owned by women for the benefit of women.

 



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