No W-2, No Problem! Qualifying For A Mortgage When You're Self-Employed with Alejandro Szita
If you're a self-employed entrepreneur, you know how difficult it can be for you to qualify for a mortgage. Lenders favor those with stable W-2 jobs even though many individuals with less regular income still can be excellent potential borrowers.
In this episode, we're speaking with Alejandro Szita, a mortgage expert for business owners, self-employed individuals, and entrepreneurs.
As the co-owner of a boutique mortgage brokerage that specializes in self-employed borrowers— including artists, business owners and creative entrepreneurs, Alejandro has seen the world of real estate from all angles—commercial, residential, and raising capital.
What are some practical steps that self-employed people can do to get themselves ready for a loan application? That's exactly what we're discussing in this episode!
In this episode, we discussed:
- Why the lending systems are set up to serve W-2 employees.
- How to get your own mortgage as a real estate agent.
- What types of loans are available to self-employed buyers?
- How bondholders dictate underwriting rules.
- How to use your bank statements to get a loan.
- The importance of having a great credit score.
- What types of real estate loans are available to business owners?
- Why it's more difficult to get a mortgage when you’re self-employed?
- Should business owners write off less on their taxes than they're entitled to, just to show it larger income?
- Why entrepreneurs should not be more focused on the goal of the investment as opposed to the interest rate of the loan.
- Why we need to be having more regular and honesty conversations about money.
Alejandro teaches the fundamentals of money and wealth, and has even created a million-dollar retail enterprise through infomercials and the Home Shopping Network.
Where you can find Alejandro:
Website - https://prosperity-lending.com/
LinkedIn - https://www.linkedin.com/in/alejandroszita/
Email - firstname.lastname@example.org
Join Jason Muth and Attorney / Broker Rory Gill of NextHome Titletown and UrbanVillage Legal in Boston, Massachusetts for another episode of The Real Estate Law Podcast!
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The Real Estate Law Podcast is hosted by Jason Muth and Attorney / Broker Rory Gill.
This podcast and these show notes are not legal advice, but we hope you find both entertaining and informative.
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