Mortgage and Portfolio Loan Guide

Income

Do I qualify for a home loan?

Here are all the answers to the question “Do I qualify for a home loan?” The answer to that question is really a four part question regarding you income, credit, assets, and property. The real questions to be asking are: Does my income qualify me for a mortgage? Does my credit meet mortgage requirements? Are my […]

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Tax Returns and Mortgage Approval

What impact do your tax returns have on buying a house? It is no secret that the income piece of the mortgage approval process is a major factor. Your ability to repay the mortgage is arguably to MOST important factor that is considered when applying for a home loan. But how is that income calculated? […]

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Self-Employed Less Than Two Years Mortgage Solution

… Update: 3/6/17 No conforming product currently allows for 1 year tax returns as self-employed if self-employed less than 2 years. On a vary rare basis, some lenders will allow for less than 2 years self-employment.  It is unclear currently on if 2 year tax returns averaged will be acceptable.  I will keep this updated […]

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Zero Down Mortgage – USDA Home Loans

Zero Down Mortgage Did you know that even if you’re not a veteran you can buy a home with a zero down mortgage in many areas? And it’s not too good to be true. There are, however, some restrictions regarding location and income. The United States Department of Agriculture (USDA) Rural Development guaranteed loan program […]

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How Much Home Can You Afford?

What Mortgage Can I Afford? So let me get this straight; you make $300,000 annually, but you show Uncle Sam that your income is below the poverty line? Sure, no problem, let’s get you that 2nd home on the beach! Yes that example may be a little extreme. However, this is something that constantly comes […]

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