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How Business Owners & Self-Employed Professionals Qualify for a Mortgage
Even When Tax Returns Show Low IncomeIf you’re a business owner, self-employed professional, or independent contractor, your tax returns may not reflect what you truly earn — and that can make qualifying for a mortgage frustrating. Many entrepreneurs do exactly what...
What is a mortgage?
A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure the debt. Normally this loan is paid back over a specific time , like 30 years or 15 years, until the entire...
How raising the prime rate makes mortgage rates go down
I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest...