Understanding Why Lenders Decline Home Loans for Small Business Owners and 1099 Contractors: Top 10 Reasons
For small business owners and independent contractors, the dream of homeownership can sometimes feel out of reach, despite having a stable income. One of the major hurdles they face is securing a home loan. While lenders have varying criteria for approving loans, there are common reasons why applications from this demographic might be declined. Understanding these reasons can help applicants better prepare and increase their chances of success. Here are the top 10 reasons why lenders might decline a home loan for small business owners and 1099 contractors