Applying For A Loan When You Have Your Own Business
There is a perception self-employed applicants have when it comes to applying for a home loan. They assume that it is next to impossible to get a bond.
Self-employed applicants can, in fact, get home loan funding. The bank must be able to see that the loan is affordable and be able to verify the applicant’s income.
This is usually done by providing documentation. This should include business financials, bank statements and personal income tax return summaries.
Nedbank has a policy for self-employed applicants who pay themselves a consistent salary. The bank can now assess them as a “salaried applicant”.
Are you self-employed and stuck when it comes to applying for a loan? It would be wise to consult with our bond originator. He can help you with all the documentation required, and will do everything on your behalf.
