SteveKnowsLoans success as a mortgage broker is a direct result of the company’s tireless efforts to match each customer with the most suitable lending program. Since many of our self-employed borrowers lack the income paperwork (W-2s, tax returns, etc.) necessary to fulfill the underwriting guidelines set by other lenders, they often struggle to secure financing. Our lite-doc loan program is the answer for self-employed borrowers.
SteveKnowsLoans provides loans to sole proprietors.
Borrowers who are self-employed may struggle to provide the same level of documentation to lenders that their paid counterparts would. Our low-documentation loans are perfect for the following groups of employees:
- Shopkeepers and proprietors of similar enterprises.
- Persons who own eating establishments.
- Consultants.
- Investors.
- Real estate professionals who have obtained their licenses.
- Taxi and car service drivers.
- Professional chauffeurs and cabbies.
- Hairstylists and barbers.
- Experts in their fields, such as doctors and lawyers.
SteveKnowsLoans lite-doc loan program meets the needs of borrowers by offering them a degree of flexibility in the application, documentation, and underwriting processes that is not available from traditional lenders.
Alternatives for Borrowers without Standard Documentation
If you’re self-employed but don’t have the documentation of income that banks and other lenders want, our lite-doc loans could be the perfect answer for you. Our only stipulation is that the borrower has been in business for themselves for at least two years, and that they have been self-employed for at least one year. An applicant for our lite-doc loan might be a taxi driver who, after working for a cab business for a year, decides to switch to ridesharing services like Uber and Lyft.
At the time of application, borrowers are required to submit a 12-month earnings statement or report. Applicants receiving lite-doc loans are not required to provide a full year’s worth of bank statements to verify their income.
Make sure to get in touch with us right away.
Our loan officers at SteveKnowsLoans are sensitive to the needs of self-employed borrowers and do their best to meet those demands. Our lite-doc loan program is based on the idea that a person with good credit shouldn’t be denied access to affordable financing just because they don’t meet the requirements of traditional underwriting.
Contact a loan officer to learn more about our little documentation loans.
Call Steven Jackson at 813-616-9411 now!
