Self-Employed Bridge Loan Program
How to be an Entrepreneur AND a Homeowner
Making the decision to be an entrepreneur is difficult enough without worrying about qualifying for a traditional mortgage – our Self Employed Bridge loan is intended to help. As you may have already discovered, if you have been self-employed for less than two years or recently changed status from a w-2 employee to a 1099 contractor you may not qualify for a traditional mortgage, even if you are financially able and want to buy a home.
Hurst Lending created our Self Employed Bridge Loan program and our 1099 Bridge Loan program to help you purchase a new home today, even if you don’t yet have 2 years of self-employed tax returns. Through this program, we provide a bridge loan enabling you to buy your new home and as soon as you have two years’ worth of tax returns, we help you refinance the bridge loan into a normal low-rate, 30-year or 15-year fixed rate, conventional loan.
With our Self Employed bridge loan and our 1099 bridge loan, you only need 1 year worth of tax returns showing your self-employed and/or 1099 income. This program is intended for clients with a strong financial situation and solid credit scores.
If you have more than 2 years worth of self-employed tax returns, you can skip the bridge loan and we can move you straight into a low rate, 30-year or 15-year fixed rate, conventional loan.
As a family-owned company, we believe in helping to ensure entrepreneurs and contractors are not penalized for lack of tax history when they are able to, and want to, move now.
If you are interested in getting more information about our Self Employed Bridge Loan program or our 1099 Bridge Loan Program, contact us today.