If you are self-employed, you probably wonder how to get a loan since one of the first things lenders want is proof of income. Although it can be a difficult process, there are plenty of options for the self-employed to obtain a home loan.
Fortunately, your Smartline Rockingham mortgage broker knows exactly how to maximise your opportunities and help you find the home loan that is correct for your needs and can even help you with the paperwork to ensure that you are able to obtain a home loan.
Home Loans for the Self Employed: the Application Process
Since self employed individuals usually find it difficult to meet the strict criteria used for processing standard home loans, home loans specifically for the self employed have recently become popular. While it is not always the case, these specialty home loans are often carried by smaller lenders who have more flexibility to offer innovative and creative products.
However, self-employed home loans are not a “walk in the park” by any means. There are a lot of conditions of which you must be aware before applying for a self-employed home loan. This can include but is not limited to: Business Activity Statements for the last twelve months, evidence of any other financing you are currently paying on and a letter of certification from your accountant.
Your Smartline Rockingham mortgage broker is an expert at helping you navigate all of the red tape and choosing between options such as variable or fixed rate loans or an equity loan that offers what is known as a “low-doc” loan.
Why “Go it Alone” When Your Smartline Rockingham Mortgage Broker Can Help?
The paperwork and the financial considerations for buying a home can be overwhelming for anyone, but the self-employed have a unique burden. From paperwork to tax advantages to providing the proper structure for your home loan, there are so many pitfalls that you should never try to navigate them alone.
Your Smartline Rockingham mortgage broker has all of the latest information on credit products for the self-employed from both large and small lenders; they can “cut through the red tape” and help you make an informed and educated decision. It is important to know how each lender manages depreciation and cash flow and how they apply their rates, fees and rules.
What Smartline Rockingham Can Do for You
At Smartline Rockingham, we can help you maximise your self-employed home loan to your best advantage. We have years of experience in the field and we always put your interests before those of lenders. Our mortgage brokers have built a reputation for friendly, comprehensive and personalised service and we always work directly with you to ensure that the home loan you find and apply for is the right home loan for your unique requirements.
While other mortgage brokers may leave you on your own after the paperwork is signed, your Smartline Rockingham mortgage broker will keep in touch with you on a regular basis to review your home loan and your financial situation to ensure that your needs are still being met by your current credit product. We keep on top of industry developments and are often able to save our clients thousands of dollars by checking their current loans.
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