Your business finally clicked. Two years ago, you made $55,000. Last year, $72,000. This year, you’re on pace for $90,000 or more. Then a mortgage lender looks at your file and qualifies you using a number that feels like it belongs to the old version of your business. That can be frustrating, but there is … Read more
Yes — getting a mortgage after only 12 months of self-employment can be possible in the U.S. But reaching month 12 does not automatically override the more common two-year income history lenders look for. Under Fannie Mae guidelines, income from a borrower with less than two years of self-employment may be considered when the most … Read more
A business credit card for freelancers can be available even if you operate as a sole proprietor, have no employees, and have never formed an LLC. In other words, freelancers do not need to become a large or formally incorporated company before they can potentially apply for business credit. Approval still depends on the issuer’s underwriting, and … Read more
A self-employed mortgage is not a special type of home loan. It is a mortgage underwritten using self-employment income instead of relying mainly on a traditional employer’s pay stubs and W-2s. Freelancers, sole proprietors, independent contractors, and business owners can qualify for conventional and government-backed mortgages when their income is stable, documented, and sufficient for the loan. … Read more