Newly Self-Employed Loan Benefits


For those who are self-employed, getting a mortgage can be quite challenging. Lending standards can seem overly complex, but with eCU Mortgage, you’ll be relaxing in your new home in no time. Borrowers who’ve been self-employed for less than two years but have been in the same line of business for a while can use their good credit and solid assets to qualify for a portfolio loan. A minimum of one year’s documented income is required with two years of W2 income from previous employers.

  1. Requires 20% down payment (minimum of 5% must be own funds)
  2. Maximum of 45% debt-to-income ratio
  3. Loan amounts up to $424,100
  4. Purchase and rate-term refinance mortgages only
  5. Owner-occupied properties only
  6. Escrow account required