The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

The complete guide to getting a mortgage when your self-employed

The complete guide to getting a mortgage when your self-employed

By Scott Sheldon / January 9, 2022

It’s no surprise if you’re self-employed and you’re trying to secure mortgage financing you potentially have a difficult time getting your loan approved. Let alone getting your loan to close at all. If you’re self-employed, here are several lending factors you need to be aware of as a pertains to being self-employed and showing income…

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why you may need to pay the piper filing self employed for a loan

Why you may need to pay the piper with your self-employed income for a loan

By Scott Sheldon / February 12, 2019

Applying to purchase or refinance a mortgage is going to require you providing an ample supply of credit, cash and documentable income to support the loan that you are seeking. Contrary to popular belief a mortgage loan is not made against the property, but rather against your ability to repay. Here’s some things you need…

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Scott Sheldon's The Mortgage FIles Blog

The Biggest Self-Employed Borrower Traps When Getting A Mortgage

By Scott Sheldon / November 25, 2012

If there is one type of borrower in this credit market whose profile has been scrutinized the most by the financial markets, it’s the sole proprietor business. Self-employed borrowers/sole proprietors used to be able to get stated income loans that would otherwise allow them to provide no income verification. Because the paradigm has shifted so…

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