5 Tips for a Faster Mortgage Refi

With rates that come around once in a generation, everyone is in a rush to try to refinance their mortgage. However, with government regulations burying home owners and mortgage originators with mountains of disclosures, the process can seem daunting. However, here are some tips for you to be ready to make your next refinance as painless as possible.

1.       Have All of Your Documentation Ready….Yes All That Documentation.

File your taxes, get your w2’s, checkstubs and have bank statements ready.  Also in some cases, bankruptcy papers, divorce decrees.Continue reading

How Can I Get a Mortgage if I’m Self Employed

For many small business owners, the economy has been tough. With tightening mortgage regulations, qualifying for a mortgage has been tougher, causing many applicants to ask, “How can I qualify for a mortgage if I’m self employed”.

Here are 5 tips for a smooth mortgage application for a self employed person.

1.      Understand the income you make:

Ever heard of the saying, “Give me the bottom line”? The saying has roots in the financial industry.  Sure you may have grossed $150,000 last year(Top Line), however, writing off $140,000, leaves you with a Bottom Line of….you guessed it $10,000. So lenders are forced to qualify a borrower making $10,000 per year which won’t buy you much of a home in this day and age.

Gone are the days of writing your income on a loan application with no supporting documentation. Today all qualifying income must be documented.Continue reading