Do you work in social media? Are you looking for a home loan? If you answered yes to both questions continue reading!
The United States is home to more than 10 million self-employed people. These entrepreneurs often work hard, taking high risks for the potential reward that can be huge! One type of entrepreneur that has been gaining traction over the last couple of years is the influencer. These "influencers" leverage partnerships with brands and advertisers in order to generate revenue.
Influencers have rejected the idea of a corporate job with W-2s in favor of promoting items online. The most successful influencer makes millions, and these are attractive borrowers to brokers that want more than just their resumes looked at; they willingly take on risk by investing into individuals who might not be as reliable or profitable like other loans clients would likely go through traditional channels such as banks. If this sounds like you keep reading to find out how we can help you obtain a loan without a W-2!.
You might be wondering how you can obtain a loan without having a W-2. The short answer is by using your Bank Statements. Bank statement loans are a great way to obtain a loan without the requirement of the documentation needed for a conventional loan. What can be used in place of the traditional W-2? Income statements, tax returns and sometimes even just bank statements for proof that a person makes enough money! Why go through all of your hard work collecting ten different kinds of sources when one will do? You’ll find this process much quicker and easier than expected.
Digital Entrepreneurs and Home Ownership
There’s never been a better time to buy your first home. With mortgage rates at historic lows and more young people than ever before looking for affordable housing, now might be the right moment!
Many young people today are concerned with the opportunity to become a homeowner. Many feel that they're already priced out of the market, that student loan debt is a barrier, and that their unique occupation doesn't qualify them for a conventional loan.
The conventional underwriting process can be a headache for those who don’t have the proper documentation. For this reason, many people turn towards bank statement loans as an attractive solution that doesn't require W2s or steady paychecks in order to get approval from lenders such as ours!
Without documentation, this group of borrowers can be better served by evaluating their ability to repay based on the business or personal bank accounts.
Work with a Non-QM Expert
Are you an influencer looking for a home loan? Bank statement loans are an attractive solution because they don't rely on the traditional underwriting. Our team of experts are here to help make the process easy. Give us a call today!
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