What is the best type of mortgage for a small business owner?

jaydawg

LoanSafe Member
Jun 12, 2019
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I mentioned in a previous question that I am new to working full time on my own. I am self-employed through my own online business. It is on the smaller side since it is only me and my wife running it. We would like to put a lean on our home to reinvest in the business and expand it a bit. Which would be the best type of mortgage for this?
 

Jzone

LoanSafe Member
Jun 20, 2017
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I mentioned in a previous question that I am new to working full time on my own. I am self-employed through my own online business. It is on the smaller side since it is only me and my wife running it. We would like to put a lean on our home to reinvest in the business and expand it a bit. Which would be the best type of mortgage for this?
I replied to your other post. If you have a current mortgage, just apply for a home equity loan. If you dont own a home, you will need to provide 3 years of tax returns. Banks ask quite a bit about income and they will need to verify it. If your wife works, you need to both apply for the loan to show your total household income.
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
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San Diego, California
www.loansreduced.com
Hi Jaydawg, we offer bank statement home loans that may be of assistance. No W2's, Taxes, Paystubs - we look at the past 12 or 24 months bank statements to determine income.

Please give me a call if you have any questions about this: 619-379-8999 or [email protected]
 

Jzone

LoanSafe Member
Jun 20, 2017
166
20
18
69
Hi Jaydawg, we offer bank statement home loans that may be of assistance. No W2's, Taxes, Paystubs - we look at the past 12 or 24 months bank statements to determine income.

Please give me a call if you have any questions about this: 619-379-8999 or [email protected]
But dont you usually pay a much higher interest rate? I thought most of these no doc loans went away during the recession. Im sure there is still a market for this specific type of customer though.