Buying A New Home When You Are Self-Employed
In Australia there are a large number of people who are small business owners, or who identify as self-employed. But despite that, it is still hard when it comes to mortgage options for self-employed Australians. Facing unique challenges that include the need for a lot more paperwork that is harder for them to come up with it can make things painful and stressful when they want to buy a home. They do not have the easy proof of a steady income that people with a regular job have. Lenders need to protect themselves When you talk to a self-employed mortgage specialist they can really guide and advise you through the process but the issue is lenders need to protect themselves against people who are self-employed and overstating what their income really is. They might be overly optimistic about what they will earn in the future, it might be to get a larger or more expensive home. There is a lot of verification and paperwork involved in the application. It is either that or having a m...