There’s a lot of flexibility and personal freedom associated with self-employment that can be a great benefit to your lifestyle and your pocketbook. However, because of the somewhat unpredictable nature of self-employment, it can make acquiring a mortgage a little more difficult. If you’ve recently become self-employed or have been in the game for a while, here are some things you may want to consider before submitting your mortgage application.
Putting More Money Down
20% is often considered the magic number when it comes to the down payment because this will allow you to avoid homeowner’s insurance. However, if you’re self-employed, you may want to consider putting even more money down as this will more strongly signify to lenders that you’re prepared for home ownership and in control of your finances. While your down payment will provide you with equity instantly, a higher payment will also lower your monthly cost and make your finances even more secure from month to month.
Minimizing Your Debt
The amount of debt a potential homeowner has can adversely affect any mortgage application, but in the event you’re self-employed, a high debt load means even more money is being paid out of a salary that is not necessarily predictable. By paying off the debts you can before applying for your mortgage, you’ll be able to invest that much more of your hard-earned money into your monthly payment without breaking the bank and cutting monthly expenditures.
A History Of Self-Employment
Being self-employed means you’ll have more to prove to your lender, but if you have a spotty self-employment history and long periods without bringing in any income, this will make it even harder. Instead of jumping into the mortgage market soon after becoming self-employed, try and have at least two years of successful self-employment behind you. By being able to prove this, the lender will see that you’re a solid financial bet and an experienced professional who will be able to find work when it’s required.
The nature of being self-employed and the fluctuations in income that can come along with it can make a mortgage lender nervous. However, by having a solid history of self-employment behind you and minimizing your debt load, you’ll be able to prove to the lender that you’re serious about home ownership.
If you have further questions, I’m self-employed and have some tips and tricks to share. Â Give me a call – J.P. Cook – 602-320-4253.
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9632 E Olla Avenue
Mesa, AZ 85212
$549,900
4
Beds
2
Baths
2,308
SqFt
Status
Active
MLS #
6730708
Property Type
Single Family Residence
Price Type
--
Your Dream Home Awaits! Discover the ideal blend of modern upgrades and cozy living in this stunning property, featuring 4 spacious bedrooms and 2 beautifully appointed bathrooms. This is a must-see! Exterior & Pool. Enter your private oasis, highlighted by a meticulously maintained pool equipped with a new speed pump, floor pop-ups, and a new filter. The PebbleTech resurfacing and fiber optic lighting create a captivating ambiance for evening swims. Freshly painted in 2022, the exterior presents a modern and welcoming aesthetic. Interior Upgrades: Inside, enjoy new tile and carpet flooring throughout, complemented by fresh interior paint. The primary bathroom has been exquisitely remodeled, showcasing a luxurious new shower and cabinet. With newer AC units installed in 2020 With newer AC units installed in 2020 and a new thermostat, year-round comfort is guaranteed. Additional Features: A new roof was installed in 2021, providing durability and peace of mind. The garage comes equipped with a utility door and storage racks for added convenience. An RV gate, backyard shed, and parking slab offer ample space for storage and vehicles. Elegant French doors add a sophisticated touch and easy access to outdoor spaces. Location: This home is ideally located with no neighbors behind, surrounded by single-level homes for added privacy and tranquility. Conveniently situated near schools and major highways (LOOP 202 & US 60), your commute will be a breeze. Don't miss the chance to make this exquisite property your new home. Experience all the wonderful features this home has to offer!
9351 W Deanna Drive
Peoria, AZ 85382
$549,900
4
Beds
2.5
Baths
2,126
SqFt
Status
Active
MLS #
6756025
Property Type
Single Family Residence
Price Type
--
Amazing Home within Dove Valley Ranch Community! The Home Offers 4 Bedrooms, 2.5 Baths and Sparkling Pool! Close to Schools, Shopping and Freeway! Seller is offering a 2% concession towards Buyer(s) closing costs or loan fees. Seller just completed remodeling this home.
18663 W Vogel Avenue
Goodyear, AZ 85338
$549,900
5
Beds
3.5
Baths
3,543
SqFt
Status
Active
MLS #
6744673
Property Type
Single Family Residence
Price Type
--
****MOTIVATED SELLER***** BRING YOUR OFFERS AND Don't miss this large, ready to move into 2 story home at the end of a peaceful street. This stunning 5 bed 3.5 bath house offers all the space and privacy you might need. Rv gate leading to a HUGE backyard, 11,398 sq ft. of big for you to add a pool or make it all you dreamed of. The main floors primary suite is great for accessibility, and seclusion from the other bedrooms. Open floor plan with lots of natural light and space for everyone. Kitchen has granite counters, stainless Steel appliances, walk in pantry, and 42'' upper cabinets with beautiful crown molding. Front Office and formal dining room are in soaring vaulted ceilings with tons of windows and light pouring in. The Kitchen is a chef's dream, featuring granite countertops, stainless steel appliances, a walk-in pantry, and 42 upper cabinets with elegant crown molding. The front office and formal dining room have soaring vaulted ceilings and an abundance of windows. The previous owners smartly converted the tandem portion of the 3 car garage into a versatile office or workshop, with a sperate exterior entrance. This thoughtful modification adds to the home's square footage and provides a functional space for remote work or hobbies. With fresh interior and exterior paint, newer appliances, and pre-wired surround sound, this home is in excellent condition and ready for its new owners. Don't let this opportunity pass you by.
247 E Las Puertas Lane
San Tan Valley, AZ 85140
$549,900
2
Beds
2.5
Baths
1,677
SqFt
Status
Active
MLS #
6772024
Property Type
Townhouse
Price Type
--
Welcome home to Encanterra Country Club and this fully upgraded Valletta Model with all the finest touches. This SMART HOME is loaded with convenient amenities. Upgraded Chef's Kitchen with Quartz Countertop and built in WiFi Appliances and cupboards / Vinyl Plank Flooring / Upgraded bathrooms with Quartz Countertops and Tile showers / Extended back Patio w/ Pergola / Built in Alexa that controls lights, custom fans and TV / Hard wired electric window shades / Multi-slide door in Great Room / Garage w/ EV outlet, custom shelves, water conditioner and epoxy floor / THIS HOME HAS MORE FEATURES AND UPGRADES THAN ANY HOME IN THE AREA, I can't even list them all! / 2 Clubhouses, 4 pools, Championship Golf, Tennis, Pickle Ball, Restaurant, and so much more. Come enjoy the ''Good Life''! This home also offers a maintenance free landscaping in the front maintained by the HOA...plus there are many clubs and community activities to enjoy time with family and friends. Concerts, pool parties, Forth of July Fireworks, Wine and Whiskey Tastings, movies at the pool, Taco Tuesdays, golf cart parades...and so much more. There are clubs and events for every lifestyle. We can't wait for you to join us in all the fun!
16324 N 73rd Drive
Peoria, AZ 85382
$549,900
3
Beds
2.5
Baths
2,082
SqFt
Status
Active
MLS #
6752817
Property Type
Single Family Residence
Price Type
--
Move In Ready 3 bedroom + den/office, 2.5 baths, 2,082 square foot home with a gorgeous backyard and salt water pool! Beautiful great room with soaring ceilings, tile, kitchen boasts granite countertops, expresso wood cabinets, backsplash, gas stove, canned lighting, ample cabinets and counter space, large master suite with separate tub & shower, dual vanities, water closet, huge walk-in closet, 1 bedroom on first floor, second floor den/office is perfect for working from home, ceiling fans in all bedrooms, 2 car garage has epoxy flooring, 12 foot RV gate, California driveway in front of RV gate, backyard oasis is perfect for relaxing or entertaining, view lot that backs to the community park, covered patio with fans and TV, sunshades, extended paver patio, side entrance from garage to backyard with security door, exterior painted in 2022, AC replaced in 2017, Ethernet ports in main rooms (front bedroom/office, great room, loft), located close to the 101, Arrowhead Mall, Peoria Sports Complex, shopping, entertainment, see this home today!
921 E Becker Lane
Phoenix, AZ 85020
$549,900
3
Beds
3
Baths
1,925
SqFt
Status
Active
MLS #
6747960
Property Type
Single Family Residence
Price Type
--
ELEGANCE STYLE CONVENIENCE Discover the seamless blend between modern and classic in this Phoenix home. Featuring breathtaking mountain views from the 2nd story master balcony, this stunning home offers a sprawling pie-shaped backyard. Inside, inviting living space with vaulted ceilings and a choice of master bedroom on either the lower or upper floor. Enjoy the warmth of hardwood flooring and tile. Gather around the Saltillo accented beehive fireplace in the great room. The kitchen shines with white cabinets, granite countertops, new appliances including dishwasher, stove, microwave and even our very own wine fridge. Cul de sac lot surrounded by well maintained homes and yards. Nestled into seclusion yet close to all conveniences include the Hilton Tapatio Cliffs resort
19801 W Badgett Lane
Litchfield Park, AZ 85340
$549,900
4
Beds
3.5
Baths
2,605
SqFt
Status
Active
MLS #
6744804
Property Type
Single Family Residence
Price Type
--
Not often a Pulte home is for sale! This home offers 4 beds, 3.5 bathrooms with a Jr Suite upstairs! The tastefully designed interior features soothing paint tones, tall ceilings, wood-plank tile flooring, and a formal living room perfect for entertaining guests. Step into the impeccable great room filled with abundant natural light through expansive windows & two sliding glass doors. Spotless kitchen has a gas cooktop, a wall oven, quartz counters, recessed lighting, gray wood cabinetry, and an island with a breakfast bar. Upstairs, the well-sized loft is ideal for a hobby space! The main retreat showcases a soft carpet, a private bathroom, and a walk-in closet. The home's elegance extends outdoors to the tranquil backyard with a covered patio. Don't miss out
9859 W Potter Drive
Peoria, AZ 85382
$549,900
4
Beds
2
Baths
1,828
SqFt
Status
Active
MLS #
6748059
Property Type
Single Family Residence
Price Type
--
Welcome to your beautiful, corner lot home located in the highly popular Parkridge community. This gorgeous home features an updated kitchen with new quartz countertops, matching stainless steel appliances with built-in microwave, freshly painted cabinets, a large island with breakfast bar, and high vaulted ceilings. The primary suite features a double door entry, vaulted ceilings, bay window, a full bath with dual sinks, a separate tub and shower set up, and spacious walk-in closet. The backyard features a sparkling dive pool, an entertaining area with an outdoor fireplace, and covered patio. This one is move-in ready.
26006 S Brentwood Drive
Sun Lakes, AZ 85248
$549,900
3
Beds
3
Baths
2,329
SqFt
Status
Active
MLS #
6752976
Property Type
Single Family Residence
Price Type
--
Spacious 3-bed, 3-bath + loft, 2-story home on golf course, offers stunning views of the 14th green at Cottonwood Country Club and breathtaking sunsets in the vibrant community of Sun Lakes. Enjoy most amenities of three HOA's, six restaurants/bars, golf courses, community pools, tennis, pickleball & bocce ball and multiple fitness centers (membership free in Cottonwood) + impressive entertainment calendars. Features synthetic lawn, screened patio, enclosed yard with block walls and view fencing. 2-car garage & separate golf cart garage. New carpet/appliances, newer windows, loft/built-in desk/murphy bed & privacy screen - perfect for your guests! Entertainer's kitchen boasts a sink island and service buffet. Master, guest and upstairs baths are newly remodeled & upgraded windows
9644 E Osage Avenue
Mesa, AZ 85212
$549,900
3
Beds
2
Baths
2,308
SqFt
Status
Active
MLS #
6765094
Property Type
Single Family Residence
Price Type
--
Wonderfully updated home on N/S lot. Old world charm with interior stone work, Tuscan-style front door, barn doors, and wood beams throughout. Three large bedrooms plus an addition Den/Office. Kitchen is complete with stone work, ceiling beams, tile backsplash, SS appliances, granite, large island, and a walk-in pantry. Large Primary suite with roomy walk-in closet, dual sinks and separate tub/shower. Newly resurfaced Pebble-Tec play pool. BBQ island is amazing, with 2 separate cooking grills, a smoker, and wood-burning pot spot. Large storage shed conveys too. Laminate flooring, crown molding, 8 camera monitoring system, security system/surround sound pre-wire, RV gate and extra slab parking top this one off. Close to US 60 and 202 freeways.
1882 W Olive Way
Chandler, AZ 85248
$549,900
3
Beds
2.5
Baths
2,137
SqFt
Status
Active
MLS #
6765907
Property Type
Single Family Residence
Price Type
--
Prepare to be amazed! Check out this fantastic 3 bed, 2.5 bath residence now for sale in Montefino Village! Nestled on a premium corner lot & featuring a lush front yard, 2 car garage w/built-in cabinets, and a welcoming front porch. Discover spacious dining & living areas w/high ceilings, tile flooring, plantation shutters, and warm palette throughout. The fabulous kitchen is comprised of wood cabinetry w/crown moulding, a pantry, granite counters, recessed lighting, newer stainless steel appliances, and an island complete w/a breakfast bar. Upstairs you'll find a cozy loft where you can spend a relaxing Sunday afternoon! The primary bedroom showcases soft carpet, a walk-in closet, and a full ensuite w/dual sinks. Also including a lovely backyard w/a covered patio and well-laid pavers, this home is sure to be the one for you! New A/C unit and water heated included! Don't miss out!
2902 N Cheri Lynn Court
Chandler, AZ 85225
$549,900
3
Beds
2
Baths
2,003
SqFt
Status
Active
MLS #
6765391
Property Type
Single Family Residence
Price Type
--
Welcome Home! This amazing house has it all, with 3 spacious bedrooms and 2 completely remodeled luxurious bathrooms. No HOA!! Brand new plumbing throughout this entire home and a new roof with transferable warranty. Every room has new wood grained, high end luxury Vinyl for a cohesive look. Newer Dual Paned Windows and Anderson sliding doors. It literally has been touched top to bottom with new finishes and modern decor. This oversized backyard boasts a pool, pergola, new sprinklered grassy area, a large RV gate and custom 2nd gate. The County square footage does not account for the enclosed heated and cooled former Arizona Room. (Approx. 291 sq ft).