Many excellent mortgage programs are specifically available for self-employed and commissioned individuals, that allow for high-ratio financing based on the applicants declared income. These programs recognize that the self-employed income reported on the tax return may not always be a true reflection of personal income due to the many deductions that are available to a self-employed individual.
For clients with an established business, with good credit, financing up to 90% of the purchase price is available based on declared income. There are additional programs available for clients not meeting the strictest qualifications with competitive rates and financing up to 95% and advances up to 90%
Options available for purchase at or under 75% continue to remain plentiful, and the expertise of our office should certainly assist our clients with obtaining the best possible terms. If you are self employed or commissioned, then let us assist you by providing a detailed assessment of available financing options.