Navigating the complex landscape of mortgage approvals can sometimes feel like a daunting task, especially when you have multiple sources of income.
However, a unique situation— a worker working as a welder with a W2 salary while also driving for Uber as a self-employed individual—presented an opportunity for us to explore innovative solutions.
Our client has two sources of income: a primary job with a salary and a secondary self-employed role. We confirmed with Freddie Mac that we could consider both incomes by following different guidelines. He's been at his main job for 10 months, and his W2 forms show his stable salary, while his self-employment, which he's had for over 2 years, supplements it.
After thorough consultation and collaboration with various lenders, we found a pathway that aligns perfectly with this financial profile. Leveraging the expertise and flexibility of Freddie Mac's guidelines, we were able to utilize both incomes, the stable W2 and the self-employment income reported through Schedule C on the tax returns.
This accomplishment underscores the importance of working with a broker who understands the nuances of diverse income structures and who is committed to finding tailored solutions for each client.
Lenders vary in their offerings and criteria. By working with a mortgage broker, you gain access to multiple options all in one place. Let us handle the complexities for you. Not all lenders are the same — secure your approval with a mortgage broker.
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