Government
FHA Self-Employed
Navigating the mortgage process as a self-employed individual can be challenging. The FHA Self-Employed loan program at CMRE is designed to simplify the process, offering flexible qualification criteria and competitive rates, starting at 6.25%. Secure your dream home with a loan program tailored to your unique financial situation.
Program Benefits
Lower credit score requirements compared to conventional loans.
Competitive interest rates, starting at 6.25%, designed for self-employed borrowers.
Higher loan-to-value ratios, allowing for smaller down payments.
Simplified documentation process for income verification.
Access to homeownership for those who may not qualify for traditional mortgages.
CMRE's expert guidance throughout the entire loan process.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
55%
Loan Amount Range
$50K - $1M
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
Program Requirements
Income Documentation
- •Two years of self-employment history generally required.
- •Stable and consistent income demonstrated through tax returns and bank statements.
- •Business licenses and other documentation to verify business operations.
- •CMRE's expert team will assist in accurately calculating qualifying income.
Asset Verification
- •Sufficient funds for down payment, closing costs, and reserves.
- •Verification of asset accounts through bank statements.
- •Acceptable asset types include savings, checking, and investment accounts.
- •Gift funds may be allowed with proper documentation.
Insurance & Title
- •Homeowner's insurance policy required to protect the property.
- •Mortgage insurance required for loans with loan-to-value ratios above 80%.
- •Flood insurance may be required depending on the property's location.
- •CMRE can assist in identifying acceptable insurance providers.
Property Requirements
- •Minimum FICO score of 580 required.
- •Review of credit history to assess creditworthiness.
- •Demonstrated responsible credit management.
- •CMRE offers credit counseling services to help improve credit scores.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The minimum FICO score required for an FHA Self-Employed loan at CMRE is 580.
FHA Self-Employed loans typically allow for a down payment as low as 3.5% of the purchase price.
Income verification for self-employed individuals typically involves providing tax returns, bank statements, and other documentation to demonstrate stable and consistent income. CMRE's expert team can help you navigate the income verification process.
The maximum loan amount you can borrow depends on factors such as your income, credit score, and debt-to-income ratio. Contact CMRE to discuss your specific situation and determine the loan amount you qualify for.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
