Buying a Home as a Self Employed Borrower in Green Bay WI
Are you self employed and looking to buy a home?
As a self-employed individual in Northeastern Wisconsin, buying a home can be challenging. Traditional banks often reject self-employed borrowers, who may not show a lot of personal income on their taxes due to writing off business expenses. But the good news is, there is still hope.
Enter George French from Marine Credit Union. George is an expert in helping self-employed borrowers get into a mortgage, despite the limitations set by traditional banks. Marine Credit Union operates differently; they lend by common sense, not just the numbers on the tax returns. They take a closer look at the business statements, bank statements, and payment history to understand the borrower's financial situation better.
George French from Marine Credit Union has options for self employed borrowers
One of the major obstacles self-employed borrowers face is having debts paid through their business account but appearing on their personal credit report. Marine Credit Union can help remove those debts from the personal credit report to help improve the debt-to-income ratio and increase the chances of getting into a mortgage.
What sets Marine Credit Union apart from other lenders is that they don't require two full years of tax returns, unlike conventional mortgage companies. With Marine, you don't have to wait two years to apply for a mortgage. Instead, they look at the available tax returns and business statements to get a sense of the borrower's performance.
If you are adamant about owning a home and don't have two years of history George French can help
While a loan from George French at Marine Credit Union may come with a higher interest rate, it's a price worth paying when other lenders have said no. What's even better is that Marine has a program that can help improve the credit score over time, making it a proactive solution for self-employed borrowers looking to purchase a home in Northeastern Wisconsin.
In conclusion, self-employed borrowers should not lose hope in their dream of owning a home. With the right lender, like Marine Credit Union, who looks at common sense and affordability, it's possible to get into a mortgage and make that dream a reality.
You can view other podcasts with George French from Marine Credit Union Below