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Anyone refinance a mortgage as a freelancer? I can’t find a bank to work with me even though everything is in a great place other than not having a full time w-2 job. Recommendations welcome!

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Just did it thru Wells Fargo. We’ve had our mortgage with them for 12 years and it was still a nightmare. But they eventually got it done. I don’t understand what goes on in the minds of these underwriters.

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I know. I have a stellar record and it doesn’t seem to matte

We bought our first home last year and had trouble getting loan approvals bc we’re both freelancers — and despite having a fair chunk in the bank. We ultimately went with a smaller regional credit union that approved us, which was great. Another option is Quicken was very aggressive in wanting to help us find a lender match — so that may be a possibility to look into.

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I had trouble getting my first mortgage this year, ended up being successful with Guaranteed Rate.

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Quicken/Rocket worked with me 3 years ago when I was freelance and reopened my application when I went full-time. Im closing on a place in Florida shortly, I highly recommend working with them. Best of luck.

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I refinanced as a freelancer and also purchased a new property in Jan 2020. My bank and several mortgage brokers in LA I know have mortgage officers who specialize in people who have non-traditional jobs, especially in film, television production. They do the work to explain to the underwriters the situation and advocate for you. But you still need to provide a ton of backup.

Ah I see. I thought you used an Indy one who you liked that found the best lender for your particular circumstances.

Where are you located? I refinanced via First Entertainment Credit Union. Not only do they understand the entertainment industry they understand hiatus as breaks in income. I was able to refi at the beginning of this year and the shifty financial year of 2020 did not slow me down with them. They were fantastic to work with If you are in LA I highly recommend them

I’m in NY but maybe they’ll have a recommendation. Thank you.

We had to use a local lender, Better Mortgages strung us along then dropped us with vague explanations. Using a local lender was so much better and took the time to verify our income. We gave them contacts and they got letters of commitment or intent to contract for future projects from multiple. Having a client or two that you have worked with regularly for over two years really helps as well. I also showed that one producer hired me from multiple agencies when they moved jobs.

Helpful! Thank you.

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