Videos

What Self-Employed Homebuyers Need to Know

Those who are self-employed shouldn’t shy away from buying a home. Many self-employed borrowers are able to qualify for a non-qualified mortgage (non-QM loan).

“Typically, you want to be self-employed for at least two years,” said Raulyer Hernandez, a New American Funding branch manager based in Orlando, Fla.

Lenders will look at self-employed borrowers’ tax returns, credit scores, income, and debt when determining whether to approve someone for a mortgage.

“We want to make sure if we approve that loan…that you can carry on through it for years to come,” said Hernandez.

Raulyer Hernandez NMLS # 619301