Can I Get a Home Equity Loan if Self Employed?
Many people wonder whether it s possible to obtain a home equity loan if they are self employed, and it is a common misconception to believe that those who are self employed have a lesser chance of getting one. While it is true that people who are self employed may have a harder time building up a strong credit score due to their possibility of an inconsistent income, this is only the case for banks. This is due to the fact that banks base their loan approvals mainly on credit scores which are how they measure the likelihood of the consumer’s ability to repay the loan. However, the problem with this way of measurement is that it does not take all factors into account, and is not always the best predictor of one’s ability to repay loans. On the other hand, here at Alpine Credits, we base our approval process on the amount of home equity the consumer has. In other words, if you own your own home, you are approved!
If you are self employed and are looking to get a loan, look no further! Alpine Credits can help by offering you a home equity loan so you can get your money today. If you own your home, you can apply in two simple ways: complete our online application or speak to one of our lending specialists at 1-800-587-2161. Our lending specialists will work with you to understand your situation and recommend the best loan structure for your needs.