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2 month old puppy dumped outside of shelter and found wet, cold, scared

Tips on Getting a Mortgage for the Self-Employed

The fact that it is harder for self-employed individuals to obtain a mortgage is undeniable. However, this does not mean that your application will get rejected automatically. Use some practical advice that will help you boost your chances of securing a home loan. You may be able to get lower interest as well.

Boost your net income.

Any lender will look at your net income on your income tax returns and not on your gross income when determining your eligibility for a mortgage. Generally, you have to present tax returns for two years and possibly your balance sheet so that the lender can verify the stability and size of your income. Obviously, you will boost your net income by working harder, but there are also strategies which you can use.

The simplest method is to avoid adding more costs to your tax returns for the purpose of paying less tax. It is true that you will pay higher taxes, but you will have higher chances of getting a home loan. You can also do an amended tax return. That way, you will show higher net income. Of course, the drawback is that you will have higher costs later. You should sit down with your accountant and try to work out an individual strategy which will help you lower your tax payments. It can help greatly in boosting your net income.

Lower your debt-to-income ratio.

For the average mortgage applicant, the maximum acceptable debt-to-income ratio is around 45%, but for the self-employed, lenders may set a lower percentage. For this reason, it makes sense to put your loans and credit cards in order. Try to repay as much of your current debt as you can. Try to get cheaper refinancing, if possible. Try to use no more than a third of the limit on your credit cards. Drop the credit cards that you do not need. These are strategies which will help you improve your credit score, which is also crucial, for securing a home loan.

Generate greater savings.

You will have much higher chances of getting a home loan if you make a down payment of 20% or higher using your savings. You should also consider setting aside a saved sum which corresponds to the total size of your mortgage payments for the first year. This will give the lender greater certainty that you can repay your debt despite the fact that you are more likely to experience income fluctuations due to being self-employed.

Invest in a bond to get regular income.

This is a strategy which you can use if you do not have sufficient savings to apply the above-mentioned tactics. Experts suggest that you buy annuity which starts paying immediately. That way, you will have stable income which will lower the risk of default. Just keep in mind that such annuities are typically quite expensive.

Finally, you should consider getting a co-signer. This is one of the most effective strategies for securing a mortgage, if you are self-employed. At the same time, you have to invest time and effort in finding a person who will assume the responsibility of repaying your home loan in case you are unable to do so.

Friends & Followers, here is where we need YOUR help!

As stated from previous post:
"Working in rescue is hard. That is a statement we say time and time again, maybe more frequently than you would expect. We often hear "you have the best job! ", "you get to pet dogs all day!" and so on. While these statements ring true it also means that we see the faces of confusion, disappointment, fear. Those faces stay burned in your memory and you fight hard each day to be the voice for those who need it. Like this little fella, now named Paul.

He is s looking for YOUR help. At around 6:00 am on 12/14/18, Paul was left outside of FDHS and found wet, cold, scared, and hiding under a bush.
We have the suspects on camera and will be uploading the video in hopes you can help us find who left him. We believe Paul is a 6-8 week old Boxer with a docked tail & declaws removed. Please, help us find him justice.
Speak up. Speak out. Be their voice.

Anyone recognizing these two men or have knowledge of this puppy, is asked to contact Fort Defiance Humane Society.

7169 State Route 15 (1,033.35 mi)
Defiance, Ohio 43512
(419) 658-2298

STATUS : - read comment for update from crossposter
How to Get the Best Mortgage for Buying an Investment Property

Now is a good time to invest in real estate. The property market is recovering while the demand for rentals is quite high due to the stricter requirements for home purchase financing. It is not easy to secure a mortgage for buying an investment property, but with some practical advice you will certainly score a great deal. Get the most important tips now.

Prepare a big down payment.

Since mortgage insurance is not available to property investors, lenders require down payment of at least 20% of the price of the property that you plan to purchase. This means that you need to have considerable savings or look harder for a more affordable property that will generate sufficient returns with minimal investment.

In general, with a down payment larger than 20%, you can increase your chances of getting approved for a loan and of securing lower interest rate as well. Experts recommend that you try to pay at least 25% of the property price out of your pocket. This will produce considerable savings for you in the long term because of the smaller principle and the lower interest.

Improve your credit score.

While home buyers can qualify for a mortgage loan with a credit score of 680, investment property buyers need to have a score of at least 740. This score will give you fairly affordable interest and more lenient terms and conditions. Otherwise, the lender will charge extra for keeping the interest rate fixed and the cost of borrowing can become very high.

You do not need to do anything special to boost your credit score. You have to have any errors fixed. You need to pay all of your monthly bills on time. You need to use your credit cards sparingly.

Set aside money to prevent default due to lack of rental income.

Experts recommend that you set aside sufficient savings to pay mortgage installments for 6 months. That way, you will be better shielded from default in case you cannot generate rental income. Generally, most lenders nowadays require property investors who borrow money from them to keep such sums called reserves in the bank to lower risk.

Include more products and lenders in your shopping search.

While larger banks and credit unions typically offer the best deals for home buyers, things are usually in reverse when it comes to finding financing for purchasing an investment property. This is because smaller lenders are more willing to demonstrate flexibility and assume risk compared to larger ones. Besides, some smaller companies specialize in working primarily with investors.

Use expert help.

You are highly recommended to work with an experienced mortgage broker when you are looking for investment property financing. The expert will help you find an affordable product more easily and quickly. Besides, the professional may be able to advise you on additional sources of financing such as home equity lines of credit and peer to peer lending.

The interest rates on mortgages are now at a historically low level. Do not miss to take advantage of this opportunity. It will most certainly give a head start to your new real estate investment business.