What could be more empowering than being your own boss? Answering to no one, calling the shots, controlling your success — as a realtor, you know exactly how that feels. You are the embodiment of the entrepreneurial spirit and the success it can create. We applaud those who put in the hard work and effort it takes to create their own pathway to success.
Sometimes that pathway can throw up roadblocks to other dreams we have, especially when those dreams involve homeownership. The competing interests of tax status, revenue creation and mortgage lending have some potential homeowners at a crossroads and require them to choose one over the other — or at least they think they have to!
At Key Mortgage, we have the products and services that can help business owners achieve the dream of running a successful business AND owning their own home. We utilize both traditional underwriting guidelines and flexible loan products to help more business owners qualify for loans. Here’s how we do it:
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Leveraging business cash flow instead of taxable income: We qualify clients using business deposits vs. what they reported on their tax returns as taxable income.
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Using 1099 Forms: We calculate and qualify based on income reported from where the business was generated.
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Myth-busting about pricing: Contrary to popular belief, these programs are priced very competitively and don’t cost clients tens of thousands of dollars more. They are not substantially different from traditional mortgage products.
With mortgage rates retreating, many people may start to wonder if it’s time to buy or sell. If they recently started a business or have been told they don’t qualify for a mortgage, they might be asking, “now what?” The good news is that you can say, “Let’s talk to my partner at Key Mortgage.” Together, we’ll see if there is a way for clients to achieve their homebuying goals. This is just another example of how you and your Key Mortgage loan officer can develop new opportunities for you to do more business and garner more relationships.
