Self-employed borrowers face a serious issue. Lenders need solid proof of income. But for many self-employed borrowers, their tax returns show very little income, or even a loss. How will you ever qualify for a mortgage, let alone a cash-out refinance if you don’t show income? Get Matched with a Lender, Click Here. Fortunately, many […]
How to Compare Bank Statement Loans from Different Lenders
If you are a smart borrower, you will shop around for your mortgage. There are many lenders that offer bank statement loans, but not all programs are created equal. How do you know which one is right for you? It is important to understand how to compare the terms, rates, and programs offered so that […]
Tax Deductions for Your Owner-Occupied Rental Property
As a homeowner, you are entitled to legal tax deductions. These are home-related expenses that can be deducted from your taxable income, and which you can expect to get back in your tax returns. If you are a homeowner, you are typically entitled to the following tax deductions: home mortgage interest payments real estate taxes […]
Do You Need Bank Statements to Refinance?
Bank statements are the basis of a standard purchase loan. Without approved funds, you cannot close on a home. Now that you want to refinance, are they still necessary? You already own the home so you don’t have to put money down. Maybe you just want to change the terms of your loan or possibly […]
Who Benefits from Bank Statement Loan Programs?
Bank statement loan programs took over the traditional stated income loans. While we did not see any alternatives for people that were unable to verify their income the traditional way for a while, there are programs available now. The most common name for the program is the Bank Statement Loan and as the name suggests, […]