Self-Employed Mortgages: 5 Tips to Help You Get Approved
Posted by Mary Ann Castro on
Ever get the feeling that mortgages are designed for people with 9 to 5 jobs? You're not alone. Self-employment can sometimes cause potential homebuyers to hit a mortgage wall, due to a lack of steady income. Not to worry though. Self-employed folks can qualify for mortgages too! By being proactive, you too can get approved for a mortgage. These tips are designed to help you increase the odds of homeownership.
Shop for homes without HOA fees
Believe it or not, homeowner association fees are included as a part of your mortgage calculation. So make a point to look for homes without any HOA fees. It may be the difference in getting approved or rejected by a lender.
Look at your tax history
Lenders determine your monthly income by looking at your…
2546 Views, 1 Comments
Stay connected with the latest Austin real estate news. See what's happening in Austin and stay ahead of the game in this increasingly competitive market. Courtesy of JBGoodwin REALTORS®. This month we feature stories on Austin rental rates, Hotel San Jose, and a high profile listing in The Domain.
Due to recent policy changes affecting government-backed loans which focus on the Federal Housing Administration (FHA) and secondary mortgage market giants Fannie Mae (The Federal National Mortgage Association) and Freddie Mac (The Federal Home Loan Mortgage Corporation), first-time home buyers could find it less costly to come up with a down payment or to afford private mortgage insurance (PMI). This is a result of the current administration lowering the premium that borrowers with an FHA-backed home loan must pay for mortgage insurance. This has been lowered from 1.35% to 0.85%. 
So you've decided to sell your home. Whether you've loved your home for years or looking to move up, your house will always need some sprucing up before it hits the market. Get your home sold more quickly, and for more money by avoiding these common home selling mistakes.
I read an article recently regarding our city's push to re-energize urban development in what is being referred to as the "Decade of Downtown." This is an effort by city leaders to try to bring people back to the epicenter of San Antonio. Helping to spur that push is the affordability factor of San Antonio's rental market.
The University of Texas at Austin has been a mainstay in the city for decades. One of the largest universities in the world, UT has over 50,000 students and employs over 24,000 faculty and staff.
11406 Powder Mill Trl, Austin
Designers are moving away from cottage inspired bathrooms and are opting for a more contemporary look in 2015. Expect an increase in popularity in zen-like bathrooms, which offer a spa-like retreat for homeowners. Think clean lines and minimalist design. Not sure where to begin? We pick our favorite bathroom trends for 2015 guaranteed to up your home's appeal.
Stay connected with the latest Austin real estate news. See what's happening in Austin and stay ahead of the game in this increasingly competitive market. Courtesy of JBGoodwin REALTORS®. This month we feature stories on millenial homebuyers, record setting sales in November and more.