As a new business owner, you're proving that entrepreneurship runs through your veins. We understand the challenges you're facing, from irregular income to limited credit history. Let's turn your business success into mortgage approval.
”At NMHL, we work with borrowers in exactly this situation every day. We understand the uncertainty, the frustration, and the worry that comes with navigating a mortgage during a significant life event. You are not alone, and your situation does not have to be a barrier to homeownership.
Our licensed loan officers specialize in finding the right path forward for borrowers in complex circumstances. Whether your situation requires specialized documentation, alternative qualification methods, or simply a lender who takes the time to understand your full financial picture, we are here to help you move forward with confidence and clarity.
Your Path Forward
Proven Solutions for Your Situation
Bank Statement Loan for New Businesses
With at least 12 months of bank statements, you can qualify for a mortgage without relying on tax returns. This is perfect for businesses with strong cash flow but not yet 2 years old.
NMHL's Business Owner Advantage
Our specialized program considers your business's current financial situation, not just historical data. This means you can get pre-approved with as little as 3.5% down.
Co-Borrower Option for Enhanced Approval
Adding a co-borrower with stable income can strengthen your mortgage application. This is particularly helpful if your business is still establishing its financial history.
Asset-Based Qualification
If you have significant assets, you can use them to qualify for a mortgage. This is ideal for business owners who have invested heavily in their company.
Personalized Guidance for Your Situation
No two mortgage journeys are alike. Our experienced advisors take the time to understand your unique circumstances and find the best path forward.
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Understanding Mortgage Options for New Business Owners
As a new business owner, you're likely no stranger to challenges. Securing a mortgage can be particularly daunting when you don't have two years of tax returns to show lenders. At NMHL, we specialize in helping entrepreneurs like you turn their business success into mortgage approval.
Our programs are designed to accommodate the unique financial situations of new business owners. Whether you're a sole proprietor, partner in an LLC, or S-Corp owner, we have mortgage solutions that can work for you.
Don't let limited business history hold you back from achieving your dream of homeownership.
How Bank Statement Loans Can Help
- Qualify using 12-24 months of business bank statements
- No tax returns required, simplifying the process
- Flexible income calculations to accommodate irregular business income
Our bank statement loan programs are particularly beneficial for new businesses with strong current cash flow but limited historical financial data.
Get pre-approved today with NMHL's streamlined bank statement loan process.
Credit Score Considerations for New Business Owners
While credit score is an important factor in mortgage approval, we understand that new business owners may have unique credit challenges. Our programs can accommodate credit scores as low as 620 in some cases, though better rates are available with scores above 700.
We'll work with you to understand your credit profile and find the best mortgage options available.
Don't let credit concerns hold you back. Contact NMHL to explore your mortgage options.
Next Steps: Getting Pre-Approved with NMHL
Getting pre-approved is the first step toward turning your homeownership dreams into reality. With NMHL, you can get pre-approved in as little as 24 hours once you've provided necessary documentation.
Start by gathering your business bank statements, business license, and personal financial documents. Our team will guide you through the rest of the process, ensuring a smooth and efficient experience.
Ready to take the next step? Apply for pre-approval now with NMHL.
Frequently Asked Questions About Mortgages for New Business Owners
We know you have questions about the mortgage process as a new business owner. Below, we've answered some of the most common questions we receive.
Still have questions? Contact NMHL's expert mortgage team for personalized guidance.
Frequently Asked Questions
While challenging, it's not impossible. Our bank statement loan programs can work with as little as 12 months of business history. We'll need to see consistent revenue and a clear business plan. Start by gathering your business bank statements and getting pre-approved with NMHL.
Lenders typically view new businesses as higher risk due to limited financial history. However, our specialized programs at NMHL are designed to accommodate new business owners. We focus on current cash flow and business potential rather than just historical data.
You'll typically need business bank statements, a business license, and personal financial documents. For our bank statement loan programs, we'll focus on your most recent 12-24 months of bank statements to demonstrate income stability.
Yes, legitimate business expenses can help reduce your taxable income, which may improve your debt-to-income ratio for mortgage qualification. Our non-QM loan programs are particularly flexible in this regard, allowing for more nuanced income calculations.
Our pre-approval process typically takes 24-48 hours once we have all necessary documentation. For new business owners, we may need additional time to review business financials, but we'll guide you through every step.
While traditional loans often require higher credit scores, our NMHL programs can work with scores as low as 620 in some cases. However, the best rates are typically offered to borrowers with scores above 700. We can help you explore options based on your specific credit profile.