Menon Financial

  Buying a home is a significant milestone, but securing a mortgage can often feel like an uphill battle for self-employed individuals. Traditional mortgage processes are typically tailored for salaried employees with predictable income streams. However, being self-employed doesn't mean homeownership is out of reach. Obtaining a Self-Employed Mortgage can be a smooth and successful process with the right approach and preparation. Understanding Self-Employed Mortgages A Self-Employed Mortgage is designed for individuals who own businesses, freelance, or work as independent contractors. Since self-employed income can vary monthly, lenders often require additional documentation to assess income stability and repayment capacity. While traditional mortgage applicants may only need to provide a couple of pay stubs, self-employed individuals usually require proof of income over a more extended period, typically two years. Challenges Faced by Self-Employed Individuals Self-employed borrowe...