You may want to rethink taking those extra deductions to minimize your tax liability this year if you plan to get a mortgage. Writing off expenses you incur as a W-2 employee can have lasting negative repercussions on your real income, an anchor component of how home lenders determine your creditworthiness… IRS Form 2106 You…
Read MoreIf you have an alternative income from a work-related injury or a long-term injury, the devil is in the details when it pertains to how, if or when any of your income you’re collecting could be used to get a mortgage. Things to keep in mind when applying… What We Mean By Disability Benefits Disability…
Read MoreHave you decided to put off purchasing a home? If you’re worried you’re paying too much for a house- think again. Here’s why: Higher Home Prices Let’s take a pause and rewind to 2012, the unemployment rate exceeded 8%, short sales and foreclosures were rampant, consumer confidence was low, the prospectus of job growth was…
Read MoreWhen you decide to purchase a home, you’ll have certain hurdles to overcome separate from the real estate purchase negotiation. Down payment Depends on which loan program you can qualify for what the property occupancy is. Assuming you’re purchasing a primary home- down payment can be as little as 3.5% or in some cases 0%…
Read MoreLarge cash deposits have to be sourced and paper trailedwhether doing a purchase or refinance transaction. One of the things lenders are required to do is source all money used in a transaction even funds not being used for the transaction. For example if you’re making $5000 a month and you get a deposit in…
Read MoreYou will want to speak with the local mortgage loan officer upfront. Ideally a loan officer who, as a Fannie Mae Freddie Mac lender and has access to various mortgage loan programs including FHA loans, conventional loans VA loans, USDA loans and home path loans. Put another way, the lender that has the full gamut…
Read MoreWhat to look for in comparing mortgage rates in Sonoma County. The Federal Reserve came out last week discussing in the media how they intend to purchase mortgage bonds moving forward in order to keep borrowing costs for consumers comparing mortgages down. If you are comparing mortgage rates in Sonoma County be aware that interest…
Read MoreSonoma County Best Rates:there are two ways to look at them. Most consumers look at mortgage rates whether being online, in the newspaper, etc. and automatically assume that the interest rate that is being advertised is the real interest rate that they can actually a lock a loan on. Get A Live Rate Quote for…
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