In this blog, we will cover and discuss what is maximum monthly mortgage payment you can afford versus how much you qualify. As technological advances such as the train and automobiles allowed Americans to expand out of major cities, homeownership has always been the American dream. Homeownership there is a staple of what America stands […]
In this blog, we will discuss and cover FHA guidelines on income and employment gaps. We will go into detail about the FHA guidelines on income and employment gaps for homebuyers. Home Buyers do not need to be employed in the same job for the past two years to qualify for FHA Loans. FHA Guidelines […]
In this blog, we will discuss and cover qualifying for home loan with job offer letter. One of the frequently asked questions at Gustan Cho Associates is can I qualify for home loan with job offer letter? There are certain rules and regulations in qualifying for a home loan with job offer letter. Every mortgage […]
In this blog, we will cover and discuss buying house with new job and gaps in employment. Many home buyers are concerned about qualifying for a mortgage and Buying House With New Job and gaps in employment in the past two years. Many are under the impression that you need to be on the same […]
In this blog, we will cover and discuss on ways on how can you get a mortgage after retirement. Seniors can qualify for a mortgage after retirement using retirement income and/or other sources of income. Tens of thousands of seniors purchase homes for one or many reasons after retirement. Some need to downsize their homes, […]
In this blog, we will discuss and cover social security income for mortgage income guidelines on government and conventional loans. Homebuyers can qualify for FHA, VA, USDA, and conventional loans with social security income for a mortgage. Under general FHA, VA, USDA, and conventional loan Social Security Income For Mortgage retired home buyers on fixed […]
In this blog, we will discuss and cover using FHA loans for self-employed borrowers on a home purchase. Using FHA Loans For Self-Employed Borrowers on a home purchase is very popular because of the high debt to income ratio caps. FHA loans allow up to a maximum of a 46.9% front end and 56.9% back […]
Borrowers can qualify for a self-employed mortgage with a single year’s tax return.
Most guidelines require lenders to average the most recent two years of income to qualify applicants.
Some programs allow borrowers with newer businesses if they have experience in their field and their income is at least what it was as a salaried employee.
Underwriters use an adjusted taxable income to qualify self-employed borrowers, not the gross income.
In this blog, we will cover and discuss tax settlement for borrowers who have tax liens. With the advent of TurboTax, mostly everyone can become a do-it-yourself tax preparer. But as we all know, with any do-it-yourself project, there are sometimes mishaps or consequences of not being fully informed or prepared. Most people can do […]
In this article, we will cover and discuss changing jobs until finding the perfect career. In my 12+ years of being in the workforce, I have changed jobs 7 times and am currently working for my 8th job. Now before you jump to any conclusions, I am justified in my logic of why doing most […]