As a self-employed person, it is often difficult to get a loan for financing a home. Banks tend to consider the income of self-employed people as more uncertain than that of employees. In addition, it can be more difficult to provide evidence of income and creditworthiness.
But despite these difficulties, there are banks that offer loans for the self-employed. To find the best options, you should carefully compare the offers of different banks. In this article, we will examine which banks offer loans for the self-employed and what conditions they offer.
If you are self-employed and want to finance a home, this article is an important first step. We will help you get the necessary information to find the best options for your construction financing.
The difficulties of construction financing for the self-employed
Self-employed people often find it difficult to obtain construction financing because they do not have a regular income. Unlike employees who draw a monthly salary, self-employed people’s income often fluctuates and is not always predictable.