LADERA RANCH, CA / ACCESSWIRE / July 20, 2023 / Truss Financial Group, a California based mortgage company founded by Jeff Miller, specializes in accommodating the financial needs of self-employed individuals and real estate investors. With experience in various mortgage programs, the company aims to provide financing options to those who face challenges due to limited income documentation. Truss Financial sets out to transform traditional industry practices with their tailored approach to Home Equity Line of Credit (HELOC). This proactive strategy is targeted at reshaping mortgage possibilities for self-employed borrowers.
Truss Financial knows that traditional banking institutions often avoid providing mortgage financing to individuals who rely on 1099s and/or K1s rather than W2s as their primary source of income. This limitation poses a significant hurdle for self-employed individuals and real estate investors who show limited income on their tax returns. Recognizing this issue, Truss Financial Group steps in to address the financing needs of this underserved market.
Recognizing the increasing demand for HELOCs among self-employed borrowers, Truss Financial Group has created an option that it thinks will solve this dilemma-a No Tax Return HELOC. Instead of relying solely on tax return documentation, Truss Financial Group reviews the borrower's bank statement deposit history over the last three months to evaluate their ability to make payments on the new HELOC. This approach bypasses the limitations posed by excessive write-offs and insufficient income shown on tax returns.
Truss Financial Group is fully aware and comprehends the potentially pressing and urgent nature of their clientele's financial needs. The distinct financial circumstances that come with being self-employed can create immediate demands, and Truss Financial endeavors to respond to these needs with promptness and precision.
The company has devised methods designed specifically to provide rapid relief to its clients. The No Tax Return HELOC is specifically tailored in such a way that it can be finalized and closed within a reduced time frame without requiring an appraisal. In an industry where closing procedures can often be lengthy, Truss Financial is able to complete the closing process in as little as 5 days.
However, to help ensure a smooth, seamless, and hassle-free process, there are certain prerequisites that potential borrowers must meet. It is important for the integrity of the process, and to safeguard both the borrower and the lender, that prerequisites are in place.
Firstly, potential borrowers must be validated for good credit. A robust credit history is thought to be a strong indicator of financial reliability and reassures the lender that the borrower has a history of fulfilling their financial commitments.
Secondly, potential borrowers must be up-to-date and not lagging behind on any existing debts. Any delinquencies or lapses in previous debt repayment can complicate the process and potentially indicate a risk to the lender.
These requirements ensure the process runs smoothly and efficiently, aligning with Truss Financial Group's overarching goal of providing prompt, effective, and hassle-free mortgage solutions for self-employed individuals.
With the introduction of the No Tax Return HELOC, Truss Financial Group provided a sought after solution for self-employed borrowers seeking flexible financing options. As they continue to grow and adapt, Truss Financial Group remains a reliable partner for those in search of mortgage financing, despite having limited income documentation.
With the introduction of the No Tax Return HELOC, Truss Financial Group has provided a sought after solution for self-employed borrowers seeking flexible financing options.
About Truss Financial Group
Truss Financial Group, founded by CEO Jeff Miller, is a California based mortgage company specializing in mortgages for self-employed individuals and real estate investors. With over 25 years of experience in the mortgage industry, Miller established Truss Financial Group as one of the few mortgage companies specializing in "non-qualified mortgages" (NonQM).
The commitment to modernization within this specialization has allowed the company to accommodate underserved groups within a changing market landscape. Truss Financial has been recognized among the top 20 best NonQM lenders consistently over successive years and still continues to focus on introducing novel strategies like the No Tax Return Home Equity Line of Credit (HELOC) to underserved customer bases.
To learn more about Truss Financial Group, visit their website or contact:
Jason Nichols
hello@trussfinancialgroup.com
SOURCE: Truss Financial Group
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