One area that can be a big help to your clients getting approved is paying their rent in a way that is document-able. For example: if your client has a Credit Score under 580 and is applying for an FHA loan having 12 months, documenting their rent being paid on time is a must. Also, if you have a client with a Credit Score between 580-640, it is also a must to have 12 months proof of rent or housing expense being paid. Cash is not an acceptable form of documentation because it … (2 comments)
rent: To rent or to buy... that is the question!
- 09/11/14 11:56 PM
Homeownership is a huge step in this journey we call life. The decision isn't always black and white. What makes sense for one person, may not make sense for the next. What's my take on "is it better to rent or own?". I'm so glad you asked! I'd love to share with you -- Check out my video below!
THE FOLLOWING CAN BE ELIGIBLE FOR TAX DEDUCTION*: Your property taxes. Don’t forget to include any taxes you may have reimbursed the seller for. These are taxes the seller had already paid before you took ownership. You won’t get a 1098 report listing these taxes. Instead, that amount will be shown on the settlement sheet.
The mortgage interest on your primary residence, as well as on a second residence. (There are limits, but relatively few taxpayers are affected.)
The interest on up to $100,000 borrowed on a home equity loan or home … (4 comments)
How Should I Be Paying My Rent?
;)
;)
