Why Bank Statement Mortgages Are Ideal For Self-Employed Individuals And Business Owners
For self-employed individuals and business owners, the process of obtaining a mortgage can be a challenge. Unlike traditional employees who receive a W-2 form, self-employed individuals often have a significant portion of their income that is not reflected on this form. This can make it difficult for these borrowers to provide proof of income to a lender, leading to loan rejection or less favorable loan terms. However, that does not have to be the case.