You are
all excited because you are ready to buy a house. We don't blame you. This
is one of the most exciting times in a person's life. But wait- you are self employed. How can you possibly qualify for a home loan?
It is
true that it is a bit more challenging to qualify for a home loan if you are
self employed versus someone that is
working for a regular salary.
However, there is no reason that you should stop yourself from buying a
home just because you are self employed.
Here
are a few things you can do to help qualify for a loan if you are self
employed.
1. Generally you will need to have been in the
same field for two years
2. You should meet with more than one loan
officer before you begin your home search
3. Be prepared to show your tax returns for the
last two to three years
4. Loan officers realize that many self
employed people look worse on paper than they really are due to being able to
write off some expenses that salaried people cannot
5. You should attempt to get a pre-approval
letter from your chosen lender and have it state that you are pre-qualified for
a loan
6. Your realtor will attach this letter to any
offer you submit on your potential new home
7. This letter will make your offer more
attractive to sellers
8. Talk to your realtor for helpful tips on
additional ways to help you get approved
Being
self employed makes it a bit more challenging to qualify for a home loan but it
is not impossible. But you will need to
have the proper documentation to prove that you can re-pay the loan without
difficulties. Your realtor will be able
to supply you with a list of lenders that specialize in helping self employed
people qualify for their new home.
So
don't put off your dream of home ownership.
Talk to your realtor today about helping you prepare for this
process. They will be more than happy
to supply you with all of the information you will need to qualify in addition
to a list of available homes in your area.
The longer you wait, the longer it will be until you are able to get
moved into and enjoy your new home.
I
specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.
I
have over 25 years experience in the real estate industry. As a Broker/Owner with Exit Realty Talbot
and Company, I bring special tools and solutions that enable me to exceed the
expectations of my clientele. If you
are considering listing your property in Loudoun County or the nearby areas,
ask me about our latest internet marketing systems. I would appreciate the opportunity to earn your business. I am experienced in listing and selling
short sales. For information on the
short sale process, please visit www.LoudounShortSaleSolutions.com.
My
past awards and designations include – 2003 President of the Dulles Association
of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the
year 2000 Dulles Area Assoc of Realtors,
Top Producer awards from both the Dulles Area Association and the
Northern Virginia Association of Realtors.
I am a member of the Top 5 in Real Estate Network.
I
have lived in Loudoun County since 1979.
I am married with two grown children and two grandchildren. My son in law is my business partner in real
estate. I love to jog in the mornings
and spend time relaxing on my Trawler during the summer months.
Loudoun County and Northern Virginia Real Estate Sales and
Solutions – Helena Talbot, Broker. I specialize in
helping buyers and sellers invest in real estate in the Northern Virginia area
to include Loudoun County and surrounding areas including Fairfax, Clarke,
Fauquier, Prince William Counties. Our local neighborhoods include Leesburg, Ashburn, Sterling, Potomac
Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club,
Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round
Hill and Bluemont.
Cell 703.727.9885 Office
703.574.3800
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