self-employed homebuyers

While intuition may lead one to believe the mortgage process for self-employed homebuyers is easier due to their financial assets, it can actually be more complex due to additional documentation that is required as part of lending regulations for borrowers who have stake in other businesses, an elaborate investment portfolio or other income-generating interests.

These individuals often have detailed tax returns that can easily exceed 50 or more pages, and their income can be challenging to verify since they don’t bring home a regular paycheck. While analyzing tax returns and verifying self-employed income can be an intricate process, it shouldn’t interfere with a borrower’s ability to qualify for mortgage financing.

With that in mind, we’re proud to announce we’ve developed a solution that has enabled us to drastically reduce the time it takes to calculate, review and verify tax returns and income. The result: a stress-free home buying experience for self-employed borrowers.

Introducing Tax Assure

Built specifically with the needs of high-net-worth, self-employed borrowers in mind, this new software drastically reduces the time our loan officers, processors and underwriters spend calculating and reviewing a self-employed borrower’s income. With this tool, we are able to:

  • Effortlessly extract data from complex financial documents and tax returns
  • Eliminate the surprise of additional documentation required later in the process by collecting complete and accurate information upfront
  • Provide homebuyers with fast, accurate and reliable answers to their most pressing questions

Here at Ross, customer satisfaction is our highest priority. We listen to what’s important to our customers and take their feedback to heart. Our continual focus on process improvement and investment in emerging technologies has enabled us to uphold our commitment of providing clients with unmatched expertise, superior service and an elevated home buying experience.

When it comes to working with homebuyers who own their own businesses, have elaborate investment portfolios and generate income from other revenue sources, it pays to partner with a mortgage lender that understands their unique financial needs and can move their application through the underwriting process in an efficient manner.

Whether you’re a self-employed homebuyer looking for a second opinion or an agent representing their needs, we’re here to answer your questions. Send us a message! We’d be happy to connect you with one of our expert loan officers.  

tross

Tim Ross is CEO of Ross Mortgage Corporation and a lifelong mortgage lender. He has served as president of the Mortgage Bankers Association of Michigan and two terms as a governor on the Residential Board of Governors with the Mortgage Bankers Association of America. Today, Tim is an active participant, charter member and past director of America's Mortgage Cooperative and recently served as the Chairman of the Mortgage Industry Advisory Board for the State of Michigan. Outside of work, Tim enjoys running, golfing and participating in triathlons.

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