Many self-employed borrowers claim that qualifying for a home loan is really challenging due to their numerous tax write-offs. When you’re self-employed you tend to deduct as many business expenses as you can so you keep more income and pay less taxes to the IRS. That is a great advantage […]
With mortgage interest rates close to all-time lows, borrowers are seeking a mortgage to buy or refinance a home if they secured their financing using a program that has rates far higher than conventional loans. When you apply to refinance your mortgage most people who are doing so want to […]
Are you thinking about making the change from being a renter to a homeowner? Perhaps you want to stop paying the mortgage of someone else, have more peace of mind, or enjoy the advantages of home ownership. Owning a home can give you great deal of confidence and it’s important […]
On July 28th, Fannie Mae and Freddie Mac are increasing the maximum debt to income ratio for to buy a single family home. The end result is more borrowers will be eligible for home financing and be able to purchase a home due to the government sponsored entities changes. What […]
If you are in the market to buy a home but don’t want the hassles of maintaining the exterior and don’t mind a community setting, owning a condo is a great option to achieve that goal. The process of buying a detached home is very similar to buying a condo […]
Advantages: When you invest in single family homes as rental properties that are miles away from each other around the city, the operating expenses are higher and management is more intensive than if you had owned a 2 to 4 unit investment property where all the units are on one […]
Self-employment is both challenging and rewarding as you have a higher ceiling to boost your earnings. You are more in control of your success. Instead of growing somebody else’s company, you get to enjoy the growing phase of your own business. However, even when you boost your income as a […]
It is much more than just mortgage rates & saving a few hundred bucks on closing costs. Time could also cost you money. Mortgage brokers and banks are fundamentally distinct in multiple ways. A bank “sells” its own suite of loan products direct to consumers. A mortgage broker has access […]
In 2016 a new loan program came out whereby the borrower does NOT have to be employed. In fact, there is no employment or income information on the application. This is almost a true “No Doc” loan and ideal for borrowers who have substantial liquid assets in a financial institution. […]
With the Dodd-Frank rules, this law has impacted hundreds of thousands of legitimate self-employed borrowers from getting a residential home loan. It has for the most part taken away stated income loans on primary residences, although portfolio lenders do still have it available only to California borrowers who can provide […]