2024

Securing a Mortgage for Self-Employed People: A Comprehensive Guide

For many self-employed individuals, the dream of homeownership can appear daunting. The traditional mortgage application process is often tailored to those with standard incomes, making it seemingly difficult for freelancers, entrepreneurs and gig workers to secure financing. However, with the right preparation and knowledge, obtaining a mortgage for self-employed people is possible and increasingly common. Here's how you can navigate the process effectively. Understanding Lenders’ Perspectives Lenders typically evaluate mortgage applications based on a borrower’s income stability and creditworthiness.