Self Employed Buyers...
Borrowing money can be particularly hard if you are self-employed.
This is especially true if you are a self-employed first home buyer or if you have had business cashflow problems in the past.
This is especially true if you are a self-employed first home buyer or if you have had business cashflow problems in the past.
But you do have options. Here are our top 4 tips to help self-employed buyers obtain a home loan
Lo-doc loans
While they may be a great option for you, they are not the only choice available for self-employed property buyers.
Typically lo-doc home loans have higher interest rates and charges than other types of mortgages.
The reason is the banks see you as a higher risk without paperwork to substantiate your ability to make repayments.
Look financially attractive
Throughout the year, your business will have fluctuating revenue levels making it more complicated for lenders to establish your overall income.
However, with up-to-date income tax returns, financial statements and notice of assessments, you will have sufficient information for a skilled mortgage specialist to demonstrate your ability to support the loan.
Find an expert to help you
Banks like lo-doc home loans because they are cheaper to process and don’t require financial expertise to assess your ability to make the repayments.
However, with a mortgage expert skilled at reading financial statements, you may be able to obtain a lower interest rate.
So before you look for your mortgage, find a mortgage specialist who can accurately read and interpret your financial records.
Finding the right person to help you could save you money.
Contact Us
If you are self-employed and would like further information, please call 1300 942 856 or request a call from one of our mortgage consultants here.
While they may be a great option for you, they are not the only choice available for self-employed property buyers.
Typically lo-doc home loans have higher interest rates and charges than other types of mortgages.
The reason is the banks see you as a higher risk without paperwork to substantiate your ability to make repayments.
Look financially attractive
Throughout the year, your business will have fluctuating revenue levels making it more complicated for lenders to establish your overall income.
However, with up-to-date income tax returns, financial statements and notice of assessments, you will have sufficient information for a skilled mortgage specialist to demonstrate your ability to support the loan.
Find an expert to help you
Banks like lo-doc home loans because they are cheaper to process and don’t require financial expertise to assess your ability to make the repayments.
However, with a mortgage expert skilled at reading financial statements, you may be able to obtain a lower interest rate.
So before you look for your mortgage, find a mortgage specialist who can accurately read and interpret your financial records.
Finding the right person to help you could save you money.
Contact Us
If you are self-employed and would like further information, please call 1300 942 856 or request a call from one of our mortgage consultants here.