24 May Increase Your Referral Base Selling Homes To Self-Employed Buyers
May 24th, 2022
Selling more homes to self-employed homebuyers can help you build your referral base. We know how vital referrals are to continue to yield motivated buyers year-round. This is exactly why you should prospect for and help self-employed borrowers get to the closing table with our Bank Statement product.
Here is why, how you can find them and help them:
- The population is large and growing – 59 million workers in the U.S. are self-employed according to Upwork.
- Many cannot qualify using tax returns due to deductions they take on returns.
- They have good to excellent credit and large down payments – they just can’t qualify for a traditional loan due to income stated on tax returns.
- 1099 earners need a loan that accepts 1099 statements instead of W-2s.
- Bank Statement loans! And Angel Oak Home Loans!
- Bank Statement loans do not require tax returns and this is why it’s one of our most utilized loan products.
- Self-employed borrowers can use 12 or 24 months personal or business bank statements.
- Sell to those only two years out of foreclosure, short sale, bankruptcy or deed-in-lieu. We close these borrowers when other lenders cannot using a Bank Statement loan.
- Save their deal and reap the benefits of referrals through their network of other self-employed connections.
- Talk to tax preparers, CPAs, and financial planners and let them know you specialize in selling homes to self-employed buyers.