Self-Employed Loans
As a self-employed borrower, it can be challenging to qualify for a traditional loan. However, our self-employed loans are designed to make the process easier. We take into account your business income and expenses to help you qualify for a loan that fits your unique financial situation. There are a variety of ways we can qualify you, so schedule a time for a mortgage consultation.
Flexible Qualification Options
- Minimal Self-Employment History Required: Traditional home loans often come with a number of limitations for self-employed borrowers. On the other hand, a self-employed person can qualify for our self-employed home loans with as little as one year of self-employment history.
- Multiple Qualification Methods: Each self-employed borrower’s financial situation is unique. Thus, we offer a range of qualification methods. Whatever it may be– you can use your 1099s, profit and loss statements, or bank statements. These options streamline the process and make home loans more accessible for self-employed borrowers.
- Lower Down Payment: Qualified borrowers of our self-employed mortgage loans require as little as 10% down. This lower down payment requirement allows them to keep more cash available for their business or other expenses while still achieving their homeownership goals.
Why Choose Sparrow Capital
At Sparrow Capital, we specialize in different loan options, including self-employed home loans. Our dedicated loan consultants prioritize our client’s needs and offer the best loan options to secure the financing they require. We’re more than just lenders—we’re partners in our client’s journey to homeownership. Our team works closely with our clients to navigate the loan process and find the most suitable options for their financial situations.
In addition, our professional mortgage brokers are well-versed in the unique challenges that self-employed borrowers may face. They’ll walk you through the entire process so that you are educated about all of your options, and you are comfortable with your choices. Whether you’re buying your first home or refinancing, we’re here to help.
Get Started Today
Securing a home loan for self-employed persons isn’t always difficult. With Sparrow Capital, you’ll have access to flexible options, professional lenders, and personalized support. Schedule a consultation today to discover how we can assist you in securing the right loan for your unique situation.
Whether you are looking for a self-employed home loan, need consultation from a good self-employed mortgage lender, or are simply exploring your options, Sparrow Capital team is with you all the way.
Appointment
Unlocking Your Financial Potential Starts with a Conversation
Navigating the world of real estate financing can be complex. A personalized consultation with one of our specialists is the key to ensuring you’re fully aware of your financing options and making informed decisions to reach your goals.
- Personalized Assessment:
Our financing specialists begin by understanding your unique financial situation and real estate goals. This tailored approach ensures that the financing solution recommended aligns perfectly with your needs.
- Transparent Guidance:
No confusing industry jargon here. During the consultation, we break down complex concepts into clear, understandable terms. You’ll have a complete understanding of the mortgage process, rates, and terms.
- Customized Solutions:
Every borrower is different. Our specialists work to find the best possible mortgage solution for you, taking into account your financial goals, credit history, and current market conditions. We aim to make your homeownership journey as smooth and affordable as possible.
F. A. Q's
Frequently Asked Questions
Being your own boss brings many benefits, freedom, flexibility, and the satisfaction of building something from scratch, but it also presents a unique challenge when it comes to borrowing money. Lenders often consider self-employment to be high risk, making it difficult to secure financing. However, here are some questions that our self-employed loan clients often ask about our residential loans.
Absolutely! While the process might differ slightly from traditional salaried employment, self-employed individuals can still qualify for the residential loan if have at least 1 year of self-employment history, income consistency, and a good credit score.
You will be required to provide a 1-year self-employment history, profit & loss statement, or bank statements to qualify for our self-employment loan. The more you show, the stronger your case! Also, you will required to make a 10% down payment.
Similar to any other loan, your credit score plays a significant role in maximizing your chance of getting your self-employment loan. So, prioritize maintaining a good credit score to get the best deals.
Yes! Our self-employment loan, for instance, offers more flexible income verification requirements compared to conventional loans. We specialize in self-employed mortgage loans that require minimal documentation to qualify. We may even tailor your loan options based on your needs.
While minimum down payments vary, a larger down payment (often 20% or more) can strengthen your application. However, the minimum down payment requirement for our self-employment loan is 10%.