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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New Mortgage Requirements for Self-Employed Borrowers

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Can I Use an FHA 203(k) Loan to Purchase a Fixer Upper

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How Mortgage Interest Rates Impact A Home Buying Budget

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Mortgage interest rates have been on the rise since the beginning of 2021, but are still very low as compared to pre-pandemic rates. When there is a change in mortgage rates, it can have an impact on your home buying budget. Since January, mortgage rates have...

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What Not to Do After Mortgage Pre-Approval

What Not to Do After Mortgage Pre-Approval

  Getting pre-approved for a loan should be the first and is the best step you can take in your home buying process. Before even looking at homes, you should talk to a mortgage broker or lender to see what your options are. A pre-approval tells you what a bank is...

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What Does the New Refinance Fee Mean for Borrowers?

What Does the New Refinance Fee Mean for Borrowers?

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