It’s no secret that one of the most critical factors in getting qualified for a mortgage loan is documentable income. Lenders, both large and small, justifiably want to know that you have money rolling in consistently, as this is a good sign that you’re able to repay the borrowed money. Traditional home buyers can prove …
Self-employed? How Last Year’s Tax Filing Affects Qualifying Read More »
Getting ready to buy your dream home? Whether you’ve already started doing your research or aren’t quite sure where to begin, we’re here to help you get into a home and broke it up into bite-size to-dos. Many people find getting pre-approved for a mortgage straightforward—in most cases a pre-approval requires answering a few questions …
Having a good credit score is essential to passing many of the financial milestones of life. One being securing a low interest rate on a mortgage for a house. If you have little or no credit history or someone who’s been delinquent on their debt payments in the past, one tip to help build your …
So, you’re self-employed and want to get a mortgage. For traditional W2 employees, this process is pretty cut and dry. But for self-employed borrowers (contractors, freelancers, or independent business owners) the process can be a bit more complicated. Here’s why: The mortgage industry was designed to accommodate conventional W2 employees. Salaried workers are considered to …
Here’s how to get a mortgage if you’re self-employed Read More »
During the past four decades, American consumers could count on this constant: The rate of inflation remained below the average rate of a 30-year mortgage. In many past instances that’s exactly how things play out, but that’s not what’s happening today. While the rate of inflation doesn’t determine mortgage rates, the two metrics are correlated. Inflation is …
Inflation is back, but does that mean mortgage rates will rise? Read More »