As a Loans for the self-employed has many benefits, but can be difficult to secure a loan. Lenders see a self-employed as a risk. This is because they often do not have a guaranteed paycheck and their income fluctuates so much that it is difficult to locate exactly what their average income is.
The stated income is always a possibility, but it implies the worst conditions on your loans for the self employed. In this case, you only need a letter from your CPA stating that you are self employed. No evidence of the actual amount of your income will be needed. The problem is that for people with bad credit, unless you have some sort of collateral, the availability of bad credit loans with favorable conditions tight.
If you are loans for the self-employed and are considering a low doc loan, you discuss your situation with a loan expert. He or she will be able to inform you about the possibilities that can advise and help you get the loan that is best suited to your needs.
The stated income is always a possibility, but it implies the worst conditions on your loans for the self employed. In this case, you only need a letter from your CPA stating that you are self employed. No evidence of the actual amount of your income will be needed. The problem is that for people with bad credit, unless you have some sort of collateral, the availability of bad credit loans with favorable conditions tight.
If you are loans for the self-employed and are considering a low doc loan, you discuss your situation with a loan expert. He or she will be able to inform you about the possibilities that can advise and help you get the loan that is best suited to your needs.
