Great Advice for Self-Employed Mortgage Shoppers
Ever since the knee jerk reaction to the crash of Oh Eight, self-employed borrowers have often been intimidated away from the mortgage application process. Despite self-employed (the “gig economy”) vocations growing as a market segment, Fear and trepidation have caused a significant 10 year drop off of self-employed applications for home loans. Dodd-Frank, the 900 page monster act, was designed to prevent future melt-downs but also had the affect of curbing lender creativity and willingness to work hard to find legal and legitimate ways to qualify mortgage applicants who have no W-2’s. If you are part of this ever growing segment of the U.S. economy, be encouraged! Peter Miller of The Mortgage Report has helpful and useful words of advice. Enjoy!