Who Can Benefit from Self-Employed Loans in Mesa?

Self-employed loans are designed for anyone who doesn’t fit the “traditional” employee profile. Common borrowers include:

• Small business ownerswho reinvest profits into their company.
• Freelancers and contractorssuch as graphic designers, writers, or IT professionals.
• Gig workerslike Uber, Lyft, Instacart, or DoorDash drivers.
• Real estate investorswho rely on rental property income.
• Entrepreneurswith variable or seasonal income.

If you work for yourself, chances are a self-employed mortgage program could make it easier to buy or refinance a home in Mesa or Maricopa County.

🌟 Benefits of Self-Employed Loans in Mesa, AZ

Here’s why these programs work so well for self-employed buyers:

• Flexible paperwork– Use bank statements or other documents instead of W-2s.
• Recognizes your true income– Even if tax write-offs lower your taxable income, lenders can see your real earnings.
• Purchase or refinance– Works whether you’re buying your first home, moving up, or refinancing your current mortgage.
• Different loan choices– Available in fixed-rate, adjustable-rate, jumbo, or investment property programs.
• Local expertise– We understand the Mesa and Phoenix housing market and can guide you every step of the way.

✅ Basic Requirements for Self-Employed Loans

While requirements depend on the specific program, here are the general guidelines:

• Credit Score– Most programs require a score of 620 or higher, though higher scores get better terms.
• Down Payment– Minimum down payments start around 10%, but jumbo loans or investment properties may require more.
• Income Verification– Instead of W-2s, you can provide 12–24 months of bank statements, CPA-prepared P&L statements, or proof of assets.
• Debt-to-Income (DTI) Ratio– Most programs allow up to 50%, which gives you more room if you’re carrying other debts.
• Business History– At least two years of self-employment is usually preferred, though exceptions may be made for those with strong financials.

📝 How the Loan Process Works with Coast2Coast Mortgage

We make the mortgage process as simple as possible for self-employed clients:

1. Initial Consultation– We sit down with you (in person or online) to learn about your income sources, business, and financial goals.
2. Program Selection– We match you with the loan program that best fits your situation (bank statement, P&L, DSCR, or asset-based).
3. Pre-Approval– Get pre-approved so you know exactly how much you can borrow before house-hunting.
4. Application & Documentation– Submit the required documents with our guidance. We’ll make sure everything is organized and complete.
5. Underwriting & Appraisal– We handle the review and home appraisal, keeping you updated along the way.
6. Closing– Once approved, you’ll sign the final documents and get the keys to your new home—or finalize your refinance.