Business owners face a number of challenges when applying for their first mortgage. They lack the clear process of income verification that many employers provide, and they don’t have the same consistent income someone with a job does. Underwriting processes often penalize small business owners for that very reason with higher interest rates while other institutions simply say no to their business. Here are five tips for business owners applying for a first mortgage.
Saturday, March 11, 2017
5 Tips for Business Owners Applying for a First Mortgage
Business owners face a number of challenges when applying for their first mortgage. They lack the clear process of income verification that many employers provide, and they don’t have the same consistent income someone with a job does. Underwriting processes often penalize small business owners for that very reason with higher interest rates while other institutions simply say no to their business. Here are five tips for business owners applying for a first mortgage.
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