Streetsboro, OH, March 16, 2022 (GLOBE NEWSWIRE) — Aspiring homeowners face tough odds in the current tight property market, and that struggle can be even greater for the self-employed because their process for getting a mortgage is more complicated — but one mortgage team is helping clients simplify and succeed with their loans.
Interest rates continue to rise, with the average jumping to levels that were last seen in 2019, according to Reuters. And the demand for buying homes continues to significantly exceed the available supply. In such a competitive market, anyone wanting to buy a property needs all the help they can get, yet the self-employed have sometimes been unfairly treated as “riskier lending options”, says CJ Simpson, president of Transformation Home Loans.
CJ constantly monitors developments in the mortgage industry and His company, based in Streetsboro, Ohio, offers personalized mortgage solutions and fast customized quotes for loans that have terms and rates favorable to the self-employed borrower.
“Under traditional underwriting guidelines, self-employed people are often forced to try qualifying for a loan with only a fraction of their true income, compared to someone who can produce a W2 for their annual salary,” says CJ. “But things are changing and the market is now more lenient for self-employed borrowers. There are so many avenues available that you no longer have to follow the path that the big box lenders want you to believe.”
With more than a decade of experience in the mortgage industry combined with a desire to learn about the latest loan products and an around-the-clock dedication to his clients, CJ has managed to stay ahead of the curve on identifying new programs and other recent changes in the industry that are breaking down some of the loan barriers for self-employed borrowers.
“Now there’s a more common-sense approach to underwriting loans for the self-employed borrowers and independent contractors alike, and they will benefit from qualifying for a mortgage with a much more accurate description of how much money they are making,” says CJ. “Where before they might have struggled to get a loan, now the process will be much easier.”
Some of the funds that Transformation Home Loans can help people secure are 30-year fixed mortgages, 15-year fixed mortgages, FHA loans, VA loans, jumbo loans, Non-QM and more.
CJ’s approach is reaping benefits both for would-be homeowners in Ohio and his own business, with the two complementing each other as he helps the self-employed and others break into the property market even if getting a loan seemed near-impossible before. And the more clients he helps, the more his business grows so that he can help other borrowers.
“As a mortgage broker, I take pride in the fact that I can say I work for my clients. I do not work for a bank or a lender. I own my company, and my goal is to deliver the best experience for my clients,” says CJ. “I have many established relationships with wholesale lenders so I can ensure that my clients have access to the programs that meet their needs.”
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