I have been self employed as a contractor for nearly 12 years now. I love what I do, but it can be really hard when dealing with all kinds of paperwork. I found this to be the most true when I started looking at different mortgage brokers for a house I wanted to buy last year. I thought it would be easy, but I discovered that it was anything but. After hitting a few brick walls, I decided to do a search for mortgages for contractors. I did not even think to do this at first because I thought it would be a fairly simple process.
What I was not counting on was having a mortgage company seeing my employment as a risk. I have never been unemployed in the 12 years that I have been working on my own other than a few months when I was recovering from an auto accident a few years ago. Regardless of my perfect work history though, I was still considered a risk because I did not have a traditional employment record, meaning a history with just one employer. I thought that my good credit and great work record would help me, but I saw that I would need additional help.
I am so happy that I found the site that I did when I started searching for a company that would work with a contractor. I was able to finally understand why banks and other mortgage companies see people like me as a risk, even with my history. I was also able to see that getting a mortgage was not an impossibility either. I was able to get my paperwork submitted quickly, and it was approved nearly as fast. It feels great walking in the front door after a hard day’s work, knowing that I am building equity in my own home now!