Picture this. You’ve just married the person of your dreams. You’re home from your honeymoon and now you’re ready to kick your relationship up a notch. That’s right, you’re ready to take the plunge from newlyweds to homeowners. You’ve searched online, found the perfect home, went to look at it, fell in love and now you’re ready to put in an offer. You contact your banker, giv…
What’s the Difference Between a Primary Residence, Second Home and Investment Property?
The type of property you’re purchasing affects both your interest rate and your eligibility for a mortgage interest deduction. There are three ways the property you’re purchasing can be classified: a primary residence, a second home or an investment property.
Primary Residence
Primary residences qualify for the lowest mortgage rates. In order for a home to qualify as your primary…
How to Get a Loan When You are Self-Employed
The unreliable income of the self-employed (whether that unreliability is actual or perceived) can make it difficult to get a loan because underwriters perceive you as a greater risk than someone with a steady salary. But you don’t have to face automatic rejection; instead, consider the following to maximize your chances of securing a loan:
What type of loan are you trying to get?
T…
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