FAQ for Self Employed Home Loans
Frequently asked questions on self-employment home loans or stated income loans.
Question: How good does my credit have to be?
Answer: You need a minimum credit score of 600 to be eligible for a stated income self-employment home loan. Past credit issues may be okay… READ MORE
Bank Statements are the New Stated Income Loan
Back in 2007 and 2008 during the subprime mortgage bust, stated income mortgages were a thing, but they tended to get people into a lot of trouble and made it possible to buy homes they really couldn’t afford. But, with a little bit of finesse, revising, and a lot of experience, we’ve now developed a new program called the bank statement home loan. READ MORE
Stated Income Loans are Available Again to Investors
Stated income home loans used to be widely available before the recession in 2008. And although we’re not back to the subprime mortgage bust, and hopefully never will be, these loans were extremely valuable and they’re making a huge comeback. READ MORE
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Bank Statement Loans in Los Angeles: The Mortgage Hack Every Self-Employed Buyer Should Know
If you run a business, work on commission, earn most of your money as a 1099 contractor, or get paid in unusual ways (like royalties, residuals, stock grants), the traditional mortgage process can feel like it was designed for someone else. We talk to borrowers who...
Case Study: Turning a Costly Home Tap Loan into a Strategic Refinance
Home Tap loans get taken out during a specific kind of moment. The equity is there, the need is real, the traditional financing path has a complication — an income documentation problem, a timing issue, something that makes the conventional route unavailable or slower...
Surprising Things That Can Lower Your Credit Score, Even If They’re Good Financial Moves
Your credit score makes all the difference in your ability to buy a home and the terms you will get on your mortgage. While the credit score is designed to put a measurable quantity on your ability to manage debt, it doesn't give the full picture of your financial...
What I Wish More Buyers Knew About Jumbo Loans Before Shopping for Luxury Real Estate
If you're eyeing a high-end property in Malibu or a luxury home in Orange County, chances are you’ll need a jumbo loan, and navigating this kind of mortgage is a lot different than a conventional one. As a mortgage professional who's worked closely with luxury...
The Basics of Asset Depletion Loans Explained Simply
Asset depletion loans solve a problem that a surprising number of financially strong borrowers run into without expecting it. The problem is simple to describe and genuinely frustrating to experience — significant wealth, assets that would comfortably support a...
Why Traditional Income Verification Fails Entrepreneurs and Business Owners
Entrepreneurs and business owners built the conventional mortgage system's biggest blind spot without meaning to. The same financial decisions that make a business more profitable, more tax-efficient, and better positioned for growth are the decisions that make...
How You Can Qualify for a Mortgage Using Assets Instead of Income
The standard mortgage qualification conversation assumes a paycheck, not assets. Show the lender what comes in every month, prove it's been coming in consistently, demonstrate it's likely to keep coming in. That framework works for most borrowers and fails a specific...
The Hidden Cost of Home Equity Loans (And Better Alternatives)
Home equity loans get pitched clean. You have equity, the bank lends against it, you get cash, the rate is lower than a credit card, and the monthly payment fits the budget. That's where most people stop analyzing and start signing. What happens between the pitch and...
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Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.