Innis Mortgage Closing in Loveland, Colorado with Real Estate Agent Jordan Reilly and Home Loans by Sean Young
Denmon Mortgage Closing in Aurora, Colorado with Home Loans by Sean Young
Haggerty and Prince Mortgage Closing In Aurora, Colorado with Home Loans by Sean Young
Muro Mortgage Cloisng in Thornton, Colorado and Home Loans by Sean Young
Garcia and Salazar Mortgage Closing in Denver, Colorado with Real Estate Agent Sarah Heil and Home Loans by Sean Young
Falbo Home Purchase Closing, Denver, Colorado, with Loan Officer Sean Young and Real Estate Agent Kathy Falbo
Paul & Kristina Mortgage Closing in Northglenn, Colorado with Realtor Phil McDonald with Realty Advisors and Home Loans by Sean Young
Josh and Lindsay Mortgage Closing in Bailey Colorado with Realtor Brooke Rohrbough at Legacy Realty and Home Loans by Sean Young
Mortgage Closing in Frederick Colorado with Realtor Nicole Court with Village Brokers and Home Loans by Sean Young
Kesler Mortgage Closing in Lochbuie, CO with Team Whisler and Home Loans by Sean Young
Pearson Mortgage Closing in Highlands Ranch, Colorado with Realtor Justin Acker with Berkshire Hathaway and Home Loans by Sean Young
Volberding Mortgage Closing in Arvada, Colorado with Team Whisler and Home Loans by Sean Young
Kozak Mortgage Closing in Denver, Colorado with Team Whisler and Home Loans by Sean Young
Wood Mortgage Closing in Brighton, Colorado with Realtor Nicole Court and Home Loans by Sean Young
Gabe Cox Purchase Closing, Denver, Colorado with loan officer Sean Young and Nicole with Village Brokers -
Douglass Mortgage Closing in Firestone, Colorado with Team Whisler and Home Loans by Sean Young
Valdez and Stockley Mortgage Closing in Commerce City, Colorado with Realtor Nicole Court and Home Loans by Sean Young
Hodges Home Loan Closing in Colorado with Top Loan Officer Sean Young
Sara Bottger Closing
Kevin and Amity Hodges Closing
Post, VA Purchase Closing in Longmont, Colorado with Realtor Jeanene Diana and Loan Officer Sean Young
Strawbridge Purchase Closing in Aurora, Colorado with Realtor Nicole Court and Loan Officer Sean Young
Spina, CHFA Preferred 3 Percent Grant Closing in Lakewood, Colorado with Loan Officer Sean Young and Realty Advisors
Bartle, NHF Platinum 5 Percent Grant Purchase Closing, Lakewood, Colorado with Loan Officer Sean Young and Realty Advisors
Armstrong, first time homebuyer purchase closing, Arvada, Colorado with Loan Officer Sean Young and Realtor Duane Whisler
Thomas-Stahle Home Loan Closing in Loveland, Colorado with Realtor Ben Woodrum and Loan Officer Sean Young
Pedro Montes Home Loan Closing in Thornton, Colorado with Team Whisler and Loan Officer Sean Young
Christensen and Holley closing, NHF Platinum 5 percent grant, Frederick, CO with Loan Officer Sean Young 1
Blazer Closing, NHF Platinum 5 Percent Grant, Aurora, CO with Realty Advisors and Loan Officer Sean Young
Crabtree Home Closing in Longmont, Colorado with Realtor Steve Noel with Re Max Alliance and Loan Officer Sean Young
Douglass & Watson Closing in Westminster, CO with Realtors Team Whisler and Loan Officer Sean Young
Hoynak, CHFA SmartStep closing, Aurora, CO
McInnis Closing, VA Purchase, Aurora, CO with Loan Officer Sean Young
Kleman, USDA Purchase Closing, Brighton, CO with Realtor Mike Palmer and Loan Officer Sean Young
Leo and Debra Maestas VA Home Loan with Realty Advisors and Colorado Top Loan Officer Sean Young
Louisma Closing in Greenwood Village, CO with Realtor Nicole Court and Loan Officer Sean Young
Miller & Roscow home closing in Boulder, CO with Diana Caile with Steps Real Estate and Loan Officer Sean Young
Quinn Home Purchase Closing with Loan Officer Sean Young, Arvada, Colorado
Vigil USDA Home Purchase Closing with Loan Officer Sean Young, Milliken Colorado
Walk Closing, Colorado Springs, VA Purchase with Realtor Andrew Fortune and Loan Officer Sean Young
Kevin Price Purchase Closing with Realtor Mike Carroll and Colorado Top Loan Officer Sean Young
Santistevan Purchase Closing with Dean Yocum and Colorado Top Loan Officer Sean Young
Bair Purchase Closing with Real Estate Agent Nicole Court with Village Brokers Inc
Gonzales Home Purchase Closing with Team Whisler and Colorado Top Loan Officer Sean Young
Mahlin Purchase Closing with Colorado Top Loan Officer Sean Young
Luke Pacheco Home Loan Closing with Colorado Top Loan Officer Sean Young
Sean Stasica Closing with Colorados Top Loan Officer Sean Young
Yelena Sindiy Refinance Closing with Colorado Top Loan Officer Sean Young
Gabryel Montalbo Home Loan Purchase Closing with Colorado Top Loan Officer Sean Young
David Close Home Purchase Closing with Realtor Terri Cox and Colorado Top Loan Officer Sean Young
Stacey Wolf Home Loan Closing with Colorado Top Loan Officer Sean Young
Paul Grant Purchase Closing with Colorado Top Loan Officer Sean Young
Justin & Jessica Bollig Closing Photo with Colorado Top Loan Officer Sean Young
Kevin Price Purchase Closing with Realtor Mike Carroll and Colorado Top Loan Officer Sean Young
Sears - Closing Photo
Chris Wells Closing with Home Loans by Sean Young
Shane and Jess King Closing with Home Loans by Sean Young
Dan Appell closing with Home Loans by Sean Young
Shane and Jess King - closing
Chris Wells - Closing
Tiffany Castens Closing with Home Loans by Sean Young
Lacquement Closing 450x350
Lazzara Closing by Sean Young
Mills - Closing
Muniz - Closing
Storrs Closing Day with Nicole and JoAnn
Walk Closing by Loan Officer Sean Young
Shawn Bair Closing Pic 2
Joe Granger Closing Day
Thanks for visiting. As a Colorado Mortgage Loan Officer with over 18 years of experience, I attribute my success to one simple quality: I take care of my clients!
Whether your goal is to purchase your dream home, refinance an existing loan, or consolidate debt, I can provide you with the expertise, professionalism, and customer service that will ensure that your transaction goes smoothly.
A significant number of people are self-employed, which means they might be relying on this income to apply for a mortgage. It is true that people who are self-employed may face additional challenges when trying to get approved for a home loan when compared to someone with traditional W2 income, these are obstacles that can be overcome. With the right qualifications and documentation, even first-time homebuyers who are self-employed should be able to qualify for the home loan they need.
Lenders Assess Someone’s Ability To Repay The Loan
First, lenders are trying to make sure the person will repay the loan. Lenders believe that someone with W2 income has a stable job and a guaranteed salary, which means they are more likely to repay the loan; however, someone who is self-employed has other ways of demonstrating that he or she can repay the loan. Self-employed individuals can use tax returns, payroll receipts, and records from financial institutions that serve as documentation of the applicant’s income or assets. This means standard W2 forms and pay stubs might no longer be necessary.
Navigating Eligibility Requirements
Next, self-employed individuals need to meet the eligibility requirements. This includes two years of self-employment, a reliable income, a strong credit score with a clean credit report, cash for a down payment, and a low debt to income ratio. It is possible for a first-time homebuyer to get a loan for less than five percent down; however, closing costs can be significant. Realistically, first-time homebuyers should plan on spending close to five percent of the home’s value to get approved for a first-time home loan.
Understanding Mortgage Options
Finally, self-employed first-time homebuyers should be aware that there are multiple loan options available. For example, there are FHA and VA loans for those who qualify. USDA loans and jumbo loans might also be an option. There are bank statement mortgages and conventional options available as well. Self-employed individuals might have to visit several of these programs to see which ones work the best. The programs vary in terms of their down payment, minimum credit score, and credit history requirements. It is prudent to work with a professional loan officer who has experience helping self-employed, first-time homebuyers get approved.
Even though not every home has a basement, those that do usually fall into one of three categories. The most common examples of basements include poured concrete, masonry block basement, and precast panels. What do homeowners need to know about the different types of basement construction?
Concrete basements are the most common examples. There are several advantages of going with a concrete basement. First, concrete basement walls are resilient. They can resist possible cave-ins, standing up to natural pressure created by wind, water, and soil. Furthermore, concrete basements are also fire-resistant while creating joint-free basements that can increase property values.
Even though concrete basements are water-resistant, hydrostatic pressure can allow water to permeate over time, creating mold and mildew issues. Homeowners need to keep a close eye on the humidity of a concrete basement to make sure this is not happening in their homes.
Block Masonry Basements
Another popular type of basement is called a block masonry basement. This structure is created with cinder block or masonry units that are connected to one another. Ultimately, this creates a waterproof structure. This is a highly resilient, cost-effective construction option that is much easier to install. Therefore, homeowners can save money on labor and materials. The walls are also more durable if they are reinforced using a steel rebar.
Precast Panel Basements
Finally, homeowners may also encounter a precast panel basement. These usually involve concrete panels that are molded in a different location before being transported to the construction site using a crane. Typically, these walls are strong and resilient. They do provide waterproof qualities, but if the joists have been neglected, they can develop moisture penetration issues. These panels also have to be treated with boric acid to prevent pest infestations.
Options For Basements: Homeowners Should Work With A Professional
Ultimately, there are plenty of options available when homeowners are looking to construct the basement. Examples include full basements, partial basements, walkout basement, and crawl spaces. Homeowners need to work with a construction professional who has experience building basements. Each option has its individual benefits and drawbacks, so homeowners need to inquire about permits and environmental factors that might make one type of basement superior to another.
Mortgage rates have been at record lows for quite some time, making it easy for new homebuyers to finance their dream homes. But what comes down will eventually go back up, and with the world economy expected to rebound in 2016, we’re about to start seeing more expensive mortgages.
So what can you do to prepare yourself before mortgage rates start to rise? Here are three strategies that will keep you ahead of the game.
Start Saving More Money Now
If you have a variable rate mortgage, you’ve benefitted from great interest rates that this world won’t see again for quite some time. Hopefully, you’ve taken advantage of this low-interest period to save up some cash. If so, you’re going to be in a great position for when interest rates rise – and if not, you’ll want to start saving as much as you can now to ensure you can weather the storm.
It’s far easier to save money now, with interest rates low, than it will be when your mortgage payment starts to rise. So start squirreling away as much of your paycheck as you can.
Pay Down as Much of Your Principal as Possible
Another great way to prepare for the rise in interest rates is to pay down your principal amount. The total amount of interest you’ll pay goes up when rates go up, but by paying down your principal, you can take a big bite out of your debt before it has a chance to snowball. So pay down as much of your principal as you can afford – it’s easier to pay down interest on a smaller principal amount.
Switch to a Fixed Rate Mortgage
One of the best ways to take advantage of low rates and ensure you get a great deal is to switch your floating rate mortgage to a fixed rate mortgage. Locking in your low interest rate with a fixed rate mortgage means you’ll pay less interest over the term of the loan, but it also means you’ll only have a set amount of time to pay your mortgage in full. If you’re in a position to predict when you can pay back your mortgage, you’ll save a lot of money by locking in your low rate.
Mortgage rates haven’t been this low in a long time, and likely won’t be this low again for many years to come. That’s why, if you’re a homeowner, you’ll want to do everything you can to prepare for higher interest rates before they get here. Contact your trusted mortgage advisor to learn more about how to manage interest rates and make sure you have the right mortgage for your situation.