If you’re self-employed, you probably
already know what a hassle it is to try to secure
credit of any kind – much less a hefty
mortgage. After all, anyone could say they’re self-employed and pull an income
of their choice from thin air, right?
You can apply for a mortgage
loan without having to disclose your entire life story,
however. Usually, lenders want a stack of
financial proof that helps put them at ease about the
risk they’re about to take on you.
Some people just prefer not to
lose control over their privacy to an entire staff of
individuals at a lending company. You don’t have
to rely on your files to form a good enough foundation
for mortgage approval – lenders have other criteria they
look for as well!
If you can show that you’ve
paid your bills on time (which will show on your credit
report), have good earning potential, or have some kind
of worthy collateral, then you won’t have to hand over
every scrap of paper related to your financial
history.
Disclaimer: The information
provided in this site is not legal advice, but general
information on financial issues commonly encountered. We
shall not be liable for any errors in the content or for
any actions taken in reliance thereon. Please consult
your financial
advisor.
