If you need any other help beginning your home search, please feel free to get in touch.
Keller Williams Realty
#1 Buyers Agent KW Los Angeles Region
If you have been self employed for over 2 years with tax returns will require you CPA author statement to that fact. Wife W2 employee is excellent
Lender usually base their approval on past 2 years returns.
Lynn911 Dallas Realtor & Loan Officer
The Michael Group - Dallas Business Journal Top Ranked Realtors
The leder's I recommend are as follows:
When filing your taxes be sure to discuss with your lender your write offs. As an independant contractor if you write off too much your income will be too low. You might want to discuss this with a lender before you file if you haven't already. Just an FYI as that is what I personally have experienced :
Craig Van Skaik
Net Financial Group
If you need help looking for a home, I'd be happy to be of assistance also.
The Carrabba Group
Keller Williams Hollywood Hills
I'd like you to read this from Steve Eckhoff, a local mortgage broker. His words tell the story better than I can:
â€œDuring the 20 years that I have been financing real estate in the West Los Angeles area, hard work and excellent associations have graced me with a virtually perfect closing ratio. One of the main reasons I have affiliated myself with First Capital Mortgage in Santa Monica is the sheer volume of last yearâ€™s more than $1 Billion in local residential loan funding â€“ this makes us one of the preeminent Mortgage brokerage firms in the United States. Our size and the volume of transactions makes us a powerful negotiator and enables us to secure the best rates and terms available.
In navigating the process of purchasing or refinancing your home, where high pressure and short time frames are the rule rather than the exception, the team I have assembled has created a stellar reputation that is supported by technical expertise, sophistication and personalized attention to each clientâ€™s transactional needs. My partner, Rochelle, our personal Transaction Manager, Carolyn, our underwriter, Mary and her assistant, Michele, and I specialize in transactions in the range of $500,000 to $5,000,000 and represent an unbeatable variety of lenders that offer extraordinary loan programs with the lowest interest rate and point combinations.
I understand that this investment is one of the most important decisions you will make and my team and I will put in every effort required to provide the best real estate financing program available and to structure and close the loan that is best for you. I would like to assure you that availability; dependability, promptness, competitiveness, total service orientation, efficiency, enthusiasm and appreciation have been the keys to our long-term success.â€
My recommendation to you? Interview 3 mortgage brokers FACE TO FACE, ask for references, find one you like and trust, and put them to work finding you the best loan. Make Steve your first call, 310-470-8080.
Deborah Bremner, CRS, SFR, CSP
Certified Short Sale Professional
Certified Home Retention Specialist
Blogging at: http://TheBremnerGroup.com/blog
I hope that you have the opportunity to contact a couple of lenders that some of the agents have suggested. I think that not only do you want to work with a lender that will get you the "lowest rate", but you want to work with one that matches you and your wife's personality. Buying your first home is not something you want to do without the right guide. I am obviously partial to the mortgage broker world,in that we (as mortgage brokers) have 20-30 different lenders that we can work with. Most of the products on the market are all the same, and will all have rates that are ultimately the same. If one guy tells you he can get you a 4.875%, the next will say 4.75%. There is no such thing as "the lowest rate". Unless you lock, you are not guaranteed anything. Rates change multiple times a day...and today was awful...rates tanked (went up a couple of times). I go back to what I was sayign about using a broker...there will be unexpected things that come up once you start talking to your mortgage professional that might cause some issues for underwriting. Many of the banks have their own layered underwriting guidelines built in over the standard fannie mae, freddie mac, USDA, VA and FHA guidelines. You could get a loan at one bank and not the other becasue that one bank needs 12 months cancelled rent paym,ent checks while the other didn't...just for an example of course. Using a "bank" such as Bank of America or Wells Fargo, limits you to getting around these types of layered underwriting guidelines. Both of my brothers work in Manhattan for Bank of America as mortgage bankers and I never would knock them and the job that they do along with the other "good" mortgage bankers that work at these banks, I am just telling you as a seasoned mortgage guy, who has worked for both Countrywide in Tampa, FL (now BoA) and JPMorgan Chase in Manhattan, and now back to brokering, that you want options. I would obviously like to gain your business, we are all on here becasue we do this for a living, not becasue we like pecking away at our keyboards in chat rooms...well at least not some of us. Check out my first time home buyer's guide here:
Then click the First Time Home Buyer Guide at the top of the home page. This is an in depth guide that I wrote to help first time home buyers really know what they are getting themselves into when they go to buy a house. It is long and boring, but you will be a much more educated AND dangerous consumer upon completion. If you would like to talk further, please call, enter our chat room on the websitre above, or email me, even if it is to bounce someone else's loan products off of.
Best of luck...and you better get moving here if you want the tax credit...must have an executed sales contract no later than April 30th. WE WRITE LOANS IN CALIFORNIA.
Co-Owner / Licensed Mortgage Broker
Primary Mortgage Group
http://www.linkedin.com/in/ryanmcpartland <--- info on my background
I would definitely recommend going with a direct lender. As an independent contractor I'm assuming you have a lot of write-offs. The downside to this is your taxes may reflect a lower number than what you have made and in my experience, every lender will use the income you filed on your taxes (Ex: If you gross $100k however after expenses you make only $20k, you will be approved based on the $20k).
Send me an email and I have 3 excellent lenders I'd be happy to pass along to you.
Keller Williams Realty
She works after normal business hours, just like I do, so feel free to call her on her cell right now at 562-552-1191 or email her at ASpellman@StratisFinancial.com