As a contractor, securing a mortgage can often feel like an uphill battle. Factors such as the length of your current contract, your time or experience contracting, and the potential irregularity of your income can make it harder to get approved by traditional lenders. Many still view contractors as higher-risk borrowers, which can complicate the mortgage application process.
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However, contractor mortgages are specifically designed to accommodate income variations, making it easier for you to secure financing for your home, regardless of your unique employment situation.
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How Contractors’ Income Is Assessed:
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One of the main challenges contractors face is that income is often calculated differently by lenders. Depending on the lender, how your income is assessed can vary significantly, impacting the mortgage options available to you. Some lenders may focus on your day rate, while others may assess annual earnings, contract length, or stability.
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We have the knowledge, expertise, and established relationships with lenders who specialize in contractor mortgages, ensuring you’re not at a disadvantage when it comes to securing financing.
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Why Choose Artillium for Your Contractor Mortgage?
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Tailored Advice: We understand the complexities of contracting and will explain your options clearly, helping you find the right mortgage product that best suits your income structure.
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Access to Specialist Lenders: Through our extensive network, we can connect you with lenders who are more flexible and experienced in dealing with contractors, ensuring you get the best terms available.
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Maximize Your Borrowing Potential: We’ll ensure your income is assessed in the most favorable way possible, helping you get the largest mortgage possible based on your circumstances.
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Streamlined Process: Navigating the mortgage process as a contractor can be time-consuming, but our team will streamline the application process and guide you every step of the way.
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Get the Right Mortgage for Your Contracting Career:
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We believe your contracting status shouldn’t limit your ability to secure a mortgage. Let us help you navigate the contractor mortgage landscape and find the best financing solution for your needs.
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Book a Free Consultation Today:
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Contact us today for a free consultation, and we'll help you assess your mortgage options, ensuring you get the financing you need for your next property.