Buying a home is ALL about knowing which bank works for YOUR personal situation! One of the most frustrating things for small business owners is the amount of documentation you require to purchase a home.
In the past, obtaining a mortgage was a complex process, requiring YEARS of personal and company financials & tax returns! But the landscape is changing, and some lenders are now requiring only ONE YEAR of financial history instead of the traditional two years.
This shift is a game-changer for prospective homebuyers, making it easier than ever to secure a mortgage and turn the dream of homeownership into a reality. It’s also a huge win for business owners who can appreciate the simplification in financial requirements, aligning with the needs of today’s dynamic entrepreneurial landscape.
So… Why is this significant?
1️⃣ Simplification for Business Owners: With just one year of financial history, business owners can secure both a mortgage and continue to invest in their business, fostering growth on both fronts. It provides the flexibility needed to juggle business ownership and homeownership simultaneously.
2️⃣ Faster Path to Homeownership: The simplification of the mortgage process means that you are able to get your loan & your home faster!
3️⃣ Valuing Business Growth: We all know that small businesses can grow FAST. These policies allow us to be able to focus on the most recent company financials which have the potential to highlight where you company is at now rather than where you were years ago.
It’s important to understand that many lenders do not have this policy. This is where we come into it! It’s our job to help get you to the right bank.
Reach out! Let us know how we can help you!
