Self-employed borrowers have a new mortgage option

Individuals who work for themselves–normally those who file Schedule C with their federal income tax returns–have had a tough time getting approval either for a new mortgage or refinancing.

But now there is an option for buyers of single-family homes, condos or co-ops who are able to make a downpayment of at least 30 percent, according to lender David Bersak of Guaranteed Home Mortgage.

The requirements Continue reading