Less than 2 Year Self Employed Home Loans

Less than 2 Year Self-Employed Home Loans are mortgage options designed for individuals who have been self-employed for less than two years. Traditional mortgage lenders typically require a minimum of two years of stable income history to qualify for a loan. However, for those who are new to self-employment or have recently started a business, these loans provide a pathway to homeownership by allowing alternative documentation of income. Instead of relying solely on tax returns, lenders may consider other financial documentation, such as bank statements, profit and loss statements, or business contracts, to assess the borrower’s ability to repay the loan. While these loans offer more flexibility, they may come with higher interest rates or stricter terms due to the perceived higher risk for the lender.