If you own rental property, your accountant may have advised you to consolidate all of your rental income on your Schedule E. The problem with that method is that some home loan programs require each property to be separate on the Schedule E.  If you are not sure how this affects you, let’s chat!

If you own rental property, your accountant may have advised you to consolidate all of your rental income on your Schedule E. The problem with that method is that some home loan programs require each property to be separate on the Schedule E.  If you are not sure how this affects you, let’s chat!

Related Article Title: Determining Rental Income on a Consolidated Schedule E Question: Our client’s rental income was reported as separate properties on their 2018 return.  However, on their 2019 the rental income was consolidated.  The IRS regulation 1.469-4(c) allows this, but we are struggling with documenting the rental income.  What are FHA guidelines for this […]

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Just because your credit report says something about you, does not mean it is always true or correct! It is important to verify the information on your credit report periodically.  If you would like a checklist about what to check, comment below and I will send one to you!

Just because your credit report says something about you, does not mean it is always true or correct! It is important to verify the information on your credit report periodically.  If you would like a checklist about what to check, comment below and I will send one to you!

Related Article Title: Guidelines on Disputed Accounts Question: My client has multiple disputes on paid and closed accounts.  Do the guidelines require me to have these disputes removed?  MC Disputed Accounts Chart – All Agency Guidance  – NEW MTP™ A Consumer’s Checklist to Verify Information on Their Credit Report Answer: It is always best to […]

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Thinking of making a job transition and buying a home? Home finance lenders consider employment history when evaluating your home loan.  Be sure to contact me first to discuss the impact that a job change could have on your ability to buy a new home!

Thinking of making a job transition and buying a home? Home finance lenders consider employment history when evaluating your home loan.  Be sure to contact me first to discuss the impact that a job change could have on your ability to buy a new home!

Related Article Title: Formerly Self-Employed – Returning to Workforce – Work History Rules Question: My client was self-employed for about 3 years and returned to work as employee in January of this year.  I have no W2, so how do I document his work history?  MC – Employment History Chart – All Agency Guidance Answer: […]

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What is a “Delayed Financing Option”? In some areas of the country bidding wars over properties go to the buyer with cash.  The problem is that not everyone wants to buy a home with cash and keep it tied up on the property.  So, they buy it with cash to win the bidding war, and then immediately refinance the home to pull that cash back out.  It is a great option if you have the cash to temporarily buy a property.  Sound interesting?  Let’s talk!

What is a “Delayed Financing Option”? In some areas of the country bidding wars over properties go to the buyer with cash.  The problem is that not everyone wants to buy a home with cash and keep it tied up on the property.  So, they buy it with cash to win the bidding war, and then immediately refinance the home to pull that cash back out.  It is a great option if you have the cash to temporarily buy a property.  Sound interesting?  Let’s talk!

Related Article Title: What Is Delayed Financing and How Does It Work? Question: Can you explain what delayed financing is and how a borrower would use it to their advantage?  MC – Refinance Chart – All Agency Guidance Answer: Let’s say you are in a bidding war over a property and have cash to pay […]

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Did you know that you can rent out the home you currently occupy, and use the income to help you qualify for your new home? If you want to move and are not able to sell your current property, this may be an option for you.  Let’s talk and see if we can make it work!

Did you know that you can rent out the home you currently occupy, and use the income to help you qualify for your new home? If you want to move and are not able to sell your current property, this may be an option for you.  Let’s talk and see if we can make it work!

Related Article Title: Documentation Needed When Renting a Departing Residence Question: My client is moving from his owner-occupied residence and into a new home.  He is intending to rent that property.  I am getting underwriting conditions that require a signed lease, and the first month’s rent upfront at least one to two weeks prior to […]

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