self employed mortgage - MortgageInsider.org https://mortgageinsider.org Thu, 19 Dec 2024 23:06:10 +0000 en-US hourly 1 Article: Is Now The Time Right To Take Advantage Of Your Home Equity? https://mortgageinsider.org/2024/10/22/article-is-now-the-time-right-to-take-advantage-of-your-home-equity/?utm_source=rss&utm_medium=rss&utm_campaign=article-is-now-the-time-right-to-take-advantage-of-your-home-equity https://mortgageinsider.org/2024/10/22/article-is-now-the-time-right-to-take-advantage-of-your-home-equity/#respond Tue, 22 Oct 2024 21:49:27 +0000 https://mortgageinsider.org/?p=1572 Surging inflation has made the last several years especially challenging for American families. As of September 2024, national household credit card debt has risen to an astronomical $1.1 trillion and the interest due on that debt is crushing. Homeowners could tap their equity to relieve financial stress, but high rates have made that prospect a

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]]> Surging inflation has made the last several years especially challenging for American families. As of September 2024, national household credit card debt has risen to an astronomical $1.1 trillion and the interest due on that debt is crushing.

Homeowners could tap their equity to relieve financial stress, but high rates have made that prospect a hard pill to swallow. Recently, mortgage interest rates have been on the decline and are now within range that makes sense for those who wish to use their home equity to pay down debt, remodel, start a new business, or purchase another property. A Closed-End Second Mortgage (Home Equity Loan) from a lender like Optionwide Financial is an excellent choice because it allows homeowners to borrow up to $500,000 and keep their low-rate first mortgage.

For borrowers with unique financial circumstances, Optionwide accepts tax returns, W2s, 12-24 months bank statements or 1099s to prove income. That means self-employed professionals, freelancers, and gig workers can take advantage of this outstanding loan program. Unlike a Home Equity Line of Credit (HELOC), with a Closed-End Second Mortgage from Optionwide, you get a lump sum up-front, at a fixed rate amortized across the 10–30-year loan term. Most property types are allowed and with no prepayment penalties, you have the freedom to sell or refinance whenever you like.

Homeowners want a lender in their corner like Optionwide Financial providing flexible, hassle-free mortgage solutions. To learn more Click Here to inquire online or call (877) 810-5529.

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]]> https://mortgageinsider.org/2024/10/22/article-is-now-the-time-right-to-take-advantage-of-your-home-equity/feed/ 0 Unlocking Homeownership with 1099 Income https://mortgageinsider.org/2024/03/26/unlocking-homeownership-with-1099-income/?utm_source=rss&utm_medium=rss&utm_campaign=unlocking-homeownership-with-1099-income https://mortgageinsider.org/2024/03/26/unlocking-homeownership-with-1099-income/#respond Tue, 26 Mar 2024 22:31:55 +0000 https://mortgageinsider.org/?p=1261 If you’re self-employed, navigating the mortgage landscape can be challenging. Traditional lenders often scrutinize tax returns, making it difficult for 1099 workers to qualify. Optionwide® offers an alternative path forward with our 1099 mortgage program. Instead of relying on tax documents, this non-QM loan allows the use 1099 forms as proof of income. Whether you’re a freelancer, contractor,

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]]> If you’re self-employed, navigating the mortgage landscape can be challenging. Traditional lenders often scrutinize tax returns, making it difficult for 1099 workers to qualify. Optionwide® offers an alternative path forward with our 1099 mortgage program. Instead of relying on tax documents, this non-QM loan allows the use 1099 forms as proof of income. Whether you’re a freelancer, contractor, or gig worker, this flexible mortgage program caters to your unique financial needs. With loan amounts ranging from $150,000 to $4 million, you can finally step into homeownership without the usual income verification hurdles that could add unwanted stress to the process.

How Does the 1099 Mortgage Work?

The 1099 mortgage, offered by Optionwide® Financial, simplifies the process of income verification down to one simple document. Forget about providing extensive tax returns, bank statements, or a W2 — your 1099 earnings statement is all you need. These statements reveal your ongoing pre-tax income, allowing lenders to assess your eligibility without the documentation maze. Whether you’re buying your dream home or refinancing, the 1099 mortgage bridges the gap for self-employed borrowers.

Qualifying for the 1099 Mortgage

To embark on your homeownership journey, gather the following information for your consultation:

  1. 1-2 years 1099 statements
  2. 10%+ down payment
  3. 660 minimum credit score

What you can expect from our consultation call

One of our licensed mortgage bankers will ask a series of qualifying questions to understand your story and figure out how much financing you qualify for. With the information provided, you will be able to make a confident, well-informed decision on the next steps to take. If you are in the market to purchase a home, we will provide a pre-approval letter so you can begin the process of hunting for your dream home. If you are looking to refinance, we can begin the process immediately and close in as little as 30-days.

Ready to get started? Apply here or call for your complimentary no obligation consultation – (877) 644-7385.

Source: 1099HomeLoans.com

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