Self-Employed & Gig Worker Solutions
Securing a home loan when you’re self-employed or a gig worker can be challenging. That’s where our specialized Self-Employed and Gig Worker Solutions mortgages come in.
Qualify using your business or personal bank statements – no tax returns required. Our programs cater to those who don’t qualify traditionally using self-employed tax returns or face income verification challenges in the gig economy.
With competitive rates and exceptional service, our Mortgage Loan Originators are ready to guide you through the process and help you choose the best option for your unique situation.
Contact us today and let us simplify the mortgage process for self-employed individuals and gig workers. At Prime Choice, we support your homeownership aspirations.
The Perfect Home Loan for Self-Employed Business Owners and Gig Workers
- No W2, No Problem!
- Qualify with one year self-employed program
- Using bank statements as income
- Qualify with profit & loss statement
- Qualify with 1099 only
- Multiple Term Lengths
Bank statement loans are popular with the following types of borrowers:
- Business owners
- Freelance employees
- Consultants
- Contract workers
- Independent contractors
- Sole proprietors
- Gig economy workers
- Realtors
- Entrepreneurs
- Retirees
HOW IT WORKS
Contact or Get Started Online
Our team of licensed loan officers is prepared to assist you with any inquiries you may have. Applying over the phone can be completed in as little as 10 minutes.
Secure Your Approval
Once you submit your loan application, our team will thoroughly review it, conduct a property appraisal, and complete the underwriting process to ensure your approval.
Secure Your Funds
Once all requirements have been met and we receive clearance to proceed, we will prepare the necessary loan documents. You will then sign the loan documents, and upon completion, your loan will be funded.
Why Prime Choice?
At Prime Choice Funding, our focus is on meeting the unique requirements and preferences of our customers when it comes to finding the perfect loan option. With a team of highly experienced Loan Officers and dedicated Operations professionals, we are committed to assisting homeowners in realizing their financing goals. Our mission is to deliver exceptional service and empower homeowners to achieve their financial aspirations. As specialists in serving self-employed home buyers and borrowers, we take pride in offering tailored solutions. If you face challenges providing income proof or have an abundance of tax deductions like many other business owners, we are here to provide the assistance you need.
What Our Clients Are Saying
Communication and transparency are cornerstones of how we get home loans done for you, our client. People turn to Prime Choice for a quick, hassle-free mortgage experience.
Frequently Asked Questions
The Bank Statement loan caters to self-employed individuals who face challenges in proving their income. Often, these borrowers have substantial tax deductions and write off various expenses, resulting in a lower net income on paper, rendering them ineligible for conventional loan programs. At Prime Choice Funding, we offer an alternative option where income verification is not required. Instead, we assess eligibility based on bank statement deposits. This program utilizes bank statements to determine qualification, as long as homeowners or buyers can demonstrate sufficient funds in their bank accounts to maintain timely payments.
- Business owners
- Freelance employees
- Consultants
- Contract workers
- Independent contractors
- Sole proprietors
- Gig economy workers
- Realtors
- Entrepreneurs
- Retirees
In Bank Statement loans, we do consider your credit score. These programs are more flexible than traditional loans, allowing for a FICO score as low as 640. Additionally, Bank Statement loans are accommodating when it comes to past short sales, foreclosures, or derogatory credit. If your financial situation makes sense today, we can provide the funding you need for a bank statement purchase loan or a refinance loan.
Bank Statement loans offer a range of flexible loan terms to suit your needs. This versatile program ensures you obtain the desired payment structure. It includes a 5-year and a 7-year Adjustable Rate Mortgage, providing attractive interest rates. If you prefer a longer term, we also offer a 30-year and 40-year Fixed Rate option. Additionally, for those who prefer interest-only payments, we accommodate that as well, allowing you to keep your monthly payments as low as possible.
The process is straightforward. When clients reach out to us, they often have doubts about the program and their eligibility. At Prime Choice Funding, we have partnered with multiple lenders to provide these programs, and over time, we have successfully assisted numerous self-employed business owners in purchasing or refinancing their homes. The first step is to contact us, where a knowledgeable professional will provide a comprehensive consultation and explain the intricacies of our programs. With various program options available, it’s essential to speak with us to receive tailored guidance and ensure you’re headed in the right direction.
Eligibility for loan programs depends on the specific type you qualify for. In the case of a Bank Statement loan program, we can extend this loan option exclusively for owner-occupied or second home properties. Our lending capabilities encompass single-family residences, condominiums, as well as 1-4 unit properties.