February 7th, 2023 10:39 AM by Michael Benevento
It is sometimes very difficult for self-employed buyers to qualify for a mortgage to purchase a home. The problem is the lenders usually require the purchaser to show standard proof of income documents such as W2’s and paystubs; two items that many self-employed borrowers do not receive. Then the lenders ask for tax returns. Typically, many tax returns of the self-employed do not reflect enough of a profit “on paper” to qualify.
That is where we step in…Quantum Mortgage Loan Officers and in-house Underwriters are trained to help the self-employed borrower(s), such as independent contractors, freelancers, and business owners, qualify for a mortgage by doing a deeper dive into the tax returns or using bank statements or asset amortization in place of traditional W2 forms. We help them confront potential roadblocks that might impede their ability to secure a mortgage.
We are trained at analyzing tax returns and company bank statement to find the hidden income.
Self-Employed Borrower Programs