It’s true! Self-employed folks have to maneuver a little harder to get a home loan, but the end result is what really matters, right?
Here are a few key moves to make that will increase your chances of a mortgage approval:
- Register and license your business
- Pay yourself a W-2 wage rather than an owner’s draw
- Lower your debt load
- Reduce your tax deductions
- Keep separate business and personal accounts
- Maintain good records
- Consider making a larger down payment
- Consider working with another small business, such as a local credit union or mortgage company
Call me so that we can discuss your opportunities to own your own home!
