I'm presently working with multiple self-employed mortgage applicants ... and as you would probably suspect, the process for these applicants is a bit more detailed in scope. Why? There are several reasons. A few of those reasons are found in an article I wrote just a few days ago entitled, "Self-Employed and Hoping to Finance a Home? What You Need to Know ..." But perhaps the detail that has historically been the largest stumbling-block and biggest frustration for my clients has surrounded the request for/and obtaining of their Federal Income Tax Return. The COVID-19 pandemic we are now facing has only served … (21 comments)
The topic of "borrowing power" and questions surrounding "how much home I can buy" are raised almost immediately by prospective mortgage clients during our first conversation together ... It's understandable and natural. They're excited and anxious. That's especially true when the client is a first-time home buyer.
Most are laser-focused. Their ultimate goal is to find out:
"What's the maximum amount of money I can borrow?" Or when purchasing, the question is often simply, "What price of home can I view?" Again, that's understandable.
But while that information is certainly a portion of what must be discovered and … (19 comments)
Having been in the mortgage business for as many years as I have, I've had the pleasure and opportunity to meet and work with many of Chicagoland's best real estate professionals ...
With some, the relationship goes back decades. I say "relationship", as over the years we've come to know each other well. I've gotten to know about spouses, kids, grandkids, pets, life situations, and more through our shared stories.
Subsequently, strong bonds and trust have been forged between us. Because of that, I've had the pleasure of working with many of my referral partner's family … (6 comments)
preparing to buy a home and get a mortgage: NOW May Not Be the Perfect Time to Buy, but it IS the Perfect Time to Start Your Preparation
- 08/18/16 09:07 AM
NOW May Not Be the Perfect Time to Buy, but it IS the Perfect Time to Start Your Preparation A recent survey performed by Fannie Mae reported that a majority of Millennials feel that owning a home makes more sense that renting does. And a full 49% said that their next move would be to a home of their own ... Add that info and statistic to the statistics reported below and you quickly see what a great impact these actions could have on our economy, lifestyles, communities, etc., not to mention the real estate industry itself, should they become reality: U.S. Millennials number 66 million individuals The median age … (16 comments)
I write mortgage and real estate-related blogs. But I READ a lot of mortgage/real estate blogs too ... and the subsequent comments made to them.
Often, another blogger's post or a comment left on mine will provide inspiration for my writing. That was the case this morning ...
Nicole Doty, Broker/Owner of Zion Realty in Gilbert, AZ, while commenting to a post of mine entitled, "Are You a Hopeful Home Buyer? Did You Just File Your Taxes?", stated:
"Depending upon the amount of the (income tax) return … (8 comments)
Someone hoping to obtain a mortgage through my services asked, "Why do you need so much information and documentation?" There are many answers that could be given to that question. And some of those answers have layers of explanation attached to them. A very quick and simple answer is, "It's now required by new laws, rules, and regulations". But upon hearing this question, I often turn the tables and ask in return, "Would YOU lend thousands of dollars of … (44 comments)
It Only Takes One Click. One Call ... to get started Yesterday I read an article that provided the results of a new Trulia study that stated:
"93% of young adults (those between the ages of 18 to 34 years of age) that are currently renting, plan to purchase a home". Great news! But the article went on to say, that these young adults believe that the current, historically low interest rates will last ... and that because of that, they may lose out on today's unique and golden opportunity within … (10 comments)
;)
;)
;)
