The main advantage of a self-employed mortgage loan is that it provides an opportunity for self-employed individuals who may struggle qualify for a traditional mortgage. These loans often come with more flexible underwriting criteria, including lower credit score and down payment requirements. Self-employed borrowers can use these loans to buy a new home, relocate, or fund renovations to their current property.

Self-employed loans also offer several benefits compared to traditional mortgages. While traditional loans typically require extensive income documentation, self-employed loans demand fewer verification documents, streamlining the application process. This makes the process simpler and quicker, allowing borrowers to focus on their business and personal life.