Introduction Hello mortgage world! One common query that often comes our way is, “My family wants to gift me money to purchase a home, what is the best way to accomplish that?” We understand how exciting and overwhelming this process can be, so let’s simplify it for you. Here are the key steps you need […]
Continue ReadingCalculating Self-Employment Income For a Mortgage (Sole Proprietorship/Schedule C)
There is a lot of misinformation about how to calculate self-employment income for a mortgage, so I wanted to go over the method used by underwriters and lenders across the U.S. This post will cover calculating income for Sole Proprietorship’s which are reported on Schedule C of your federal tax return. In follow up posts […]
Continue Reading2018 FHA mortgage limits announced, nearly all counties increasing
On December 7, 2017 Federal Housing Administration announced new 2018 FHA mortgage limits, effective for FHA case #’s pulled on or after 1/1/18. The official website to look up 2018 FHA mortgage limits by county can be found at FHA Mortgage Limits Search. The “floor” mortgage limit, which is the FHA national low-cost area mortgage limit, […]
Continue Reading