If you are self-employed, either as a freelancer or as the owner of your own business, your income can fluctuate greatly from year to year. That can make it difficult to get approved for a mortgage, although there are some things you can do to improve your chances. Here are three tips for securing a mortgage if you are self-employed.Make Sure Your Credit Score Is In Good ShapeWhile your ability to pay back a mortgage is the most important factor in approval, your credit score is a close second, and that goes for every borrower, not just those who are self-employed. If you have a credit score in the high range — something above 750 or 760 — it will help you get approved for a mortgage. To boost your score, make sure you pay all bills on time, pay down your debt levels and don’t make any ... 02/04/2021

Light is an important design element that can be used to influence your interior decor in a number of ways. In fact, you can experience a major transformative change on the overall style and ambiance of a room by making a few simple lighting changes. Consider how these ideas can help you to improve the look of your space with great results, and think about ways that you can improve your space by making a few changes.The Addition of SpotlightsIf you have fine pieces of artwork, decorative display areas or other features that you want to illustrate with beautiful clarity, the addition of spotlights is a great idea. You can shine light on these special features in your home by installing a single, bright fixture with a focused beam overhead, or you can use track lighting to highlight large... 01/22/2021

For those who are looking for a new home, it is important to take the time to get this decision right. For a lot of people, a home is the most valuable investment they are ever going to make. As a result, it is critical to evaluate all of the options that are available. That way, everyone will get the most out of their time. What about setting a budget? How important is this and should people think about going over it?It Is Important To Budget FirstWhen someone is looking for a home, the first step is to know the budget. As a rule of thumb, those people should try to avoid spending more than 30 percent of their monthly income on housing expenses. This is monthly income before taxes. For those who are having trouble doing this calculation, this is an area where a trained professional can... 01/18/2021

Do you have a mortgage? You’ve likely seen or heard a lot about mortgage refinancing as interest rates remained low in recent months.In today’s blog post we’ll explore the topic of mortgage refinancing, including when you should consider refinancing and how to take advantage of low interest rates.What is Mortgage Refinancing?In simple terms, refinancing refers to the practice of taking out a new mortgage and using the proceeds to pay off your old one in its entirety. You’ll go through the full borrowing process with your chosen lender, including the credit check, financial history and employment history in order to ensure that you have the ability to pay your new mortgage – even if your monthly costs are lower.Depending on your financial goals, you may refinance to tap into some of the ... 01/13/2021

Last week’s economic reports included readings on construction spending and reports on the national unemployment rate and job growth. Weekly reporting on mortgage rates and jobless claims were also published.Construction Spending Increases as Demand for Homes RisesHomebuilders responded to increased demand for single-family homes and increased their spending in November. Construction spending rose by 0.90 percent as compared to projected spending of 1.10 percent and  1.60 percent growth in November. Demand for homes increased in recent months due to the coronavirus pandemic. Homeowners left urban areas and bought larger homes in suburban and rural areas. Low mortgage rates, flight from cities, and needs related to working from home and homeschooling fueled demand for single-family homes... 01/11/2021

For those who are trying to buy things for their home, it is important to think carefully. Nobody wants to overpay; however, reaching for something cheap may simply end up getting replaced quickly. There are a few highlights that everyone should consider purchasing for their home in January!Purchase Some Furniture In JanuaryFirst, everyone has to make sure they think about buying furniture either in January or July. A lot of furniture manufacturers provide retail stores with new pieces in February and August. Therefore, a lot of furniture will go on sale starting either in January or July.Storage Items Go On Sale In JanuaryAgain, a lot of stores will roll out sales in January for storage essentials such as baskets, shelves, and organizing systems. There are a lot of student’s who are lo... 01/08/2021

There are a lot of steps that come with buying or selling a home. One of the routine steps that have to be accomplished is called a home appraisal. When it comes to a home appraisal, this is something that can cause both buyers and sellers to pause for a second. For those who might not know, a house appraisal is where a trained professional will take a look at the fair market value of the home. It is important to understand what happens when a home appraisal is conducted. Compare The Home To Similar PropertiesWhen a home appraisal is conducted, its value is usually compared to homes in the area that are similar. The value of a home is always determined by what similar homes in the area have sold for recently. This is what the lender is going to look for. For example, if someone is selli... 01/06/2021

Right now, mortgage rates have fallen to rates that haven’t been seen in years. This opens the door for many people to apply for a mortgage that they previously may not have been able to afford. Sadly, not everyone who applies for a mortgage is going to be approved. There are a few steps that applicants can take to increase their chances of getting their mortgage application approved.Increase The Credit ScoreApplicants need to make sure that their credit scores are as high as possible when they apply for a mortgage. The greater the credit score is, the more trustworthy they look to lenders. In general, applicants are going to need a credit score of 620 or higher to qualify for a home loan; however, those who want to get the best interest rates possible need to make sure their credit sco... 01/05/2021

During the past few months, many people have been stuck at home. Whether this involves working from home or going to school from home, many home appliances are receiving more use than usual.There might be more breaks, clogs, and leaks than most families are used to dealing with.Many families are tired of spending money on technicians and mechanics and might be looking for a more cost-effective way to deal with home repairs. There are a few key home repairs that homeowners can handle on their own.Stopping A Leaky FaucetLeaky faucets are among the most common issues homeowners deal with. There are two shut-off valves under the sink that need to be turned off first. Then, make sure there is nothing coming out of the faucet. Remove the handles from the faucet using a screwdriver and look at... 12/30/2020

Buying a new home is an exciting experience.  At the same time, it is also important for everyone to think about a few important topics that have to be discussed before they place an offer on a home. That way, everyone can rest easy, knowing they have done their due diligence when it comes to purchasing a new home.Do Not Neglect The Noise Level Of The NeighborhoodOne of the most commonly overlooked topics when it comes to buying a house is the noise level of the neighborhood. Some noise from the outside world is to be expected, particularly for those who move into a busy neighborhood. During a tour of the potential home, it is a good idea to ask realtors to lower the level of background noise. That way, people can get a good feel for what the potential neighborhood noise level might be ... 12/10/2020

If you are looking for a home, then you probably have a budget in mind. You also need to know about the most common factors that influence the price of a home. One factor that always seems to play a role in the price of a home is the quality of the school system. This makes sense. After all, a lot of people who are looking for a home have children (or are planning on having children) and want to make sure they have access to a quality education. At the same time, is it truly worth the price increase to have access to a better school district?The Quality Of The School District And The Price Of The HomeNumerous surveys have consistently shown that the majority of homeowners are willing to go over their budget price for the perfect and home and the location certainly plays a role. In this ... 12/08/2020

So – you’ve completed an initial mortgage pre-qualification and now you’re ready to take the next step and meet with your lender or mortgage advisor for the pre-approval interview. Are you ready?At this stage of the application process your lender will dig into your financial background to ensure that you’re fully capable of making your mortgage payments and that you don’t present too high a risk. Let’s take a quick look at a few questions you should know the answers to before you go in for a mortgage pre-approval.Do You Have a Specific Home in Mind?If you’ve already picked out the perfect new home, be sure to bring along some of the details when you meet with your lender. At minimum you’ll want to know the price range that you’re expecting to buy in so that your mortgage advisor can tr... 12/04/2020

When people are thinking about moving, they want to make sure they find the right neighborhood. At the same time, it is not always easy for many homeowners to decide where they are going to live. Particularly if they are not familiar with the local community, there are a few important points that everyone should keep in mind. By thinking about these factors ahead of time, potential homeowners are going to place themselves in a position to be successful when they purchase their next home. Consider The Importance Of The SchoolsMany people who are moving are looking for a bigger house because their family is getting larger. Therefore, one of the most important factors that families need to think about involve the quality of the schools. Schools are going to play a major role in the pricing... 11/24/2020

For those who are thinking about buying a house in the near future, they are probably in the process of tabulating up all of their expenses. One of the common expenses is home insurance. Even though home insurance is certainly recommended, is it actually required? There are many situations where it is required. At the same time, even when it is not required, it is still a good idea. When it comes to homeowners’ insurance, there are a few important points to keep in mind. Why Home Insurance Is Required By A LenderFor those who are taking out a mortgage to purchase a home, most lenders are going to require home insurance. This is because the lender wants to make sure that they are going to get their money back. Remember that the lender is taking a significant amount of risk as well. They ... 11/19/2020

The coronavirus pandemic has had a massive impact on everyone. This pandemic has led to massive economic issues as well. Given the ongoing crisis as it relates to student loan debt, many students are wondering how the pandemic is going to impact their student loans and how their student loans are going to impact a potential mortgage payment. There are a few points to keep in mind.Freddie MacIn general, loans backed by Freddie Mac are going to use the student loan payment that is marked on the credit report. If this amount is $0 or unknown, then the lender is going to use 0.5 percent of the outstanding loan balance. This should also be reported on the credit report. Then, the lender will provide the borrower with information on possible mortgages.Fannie MaeWhen it comes to loans that are... 11/12/2020

Try To Keep Housing Costs LowFirst, it is important for everyone to try to keep their housing costs as low as possible. Housing is one of the major sources of death of people have when they retire. This could come in the form of a mortgage that has been stressed out for a longer period of time in order to send kids to college.At the same time, as people start to approach retirement, they should try to attack this debt as much as possible. Remember that cash is king. Paying off a mortgage before retirement can really help people improve their quality of life on the other side.Pay Down Credit Card DebtIdeally, individuals are able to pay their credit card bills in full every month. Yes, it is great to take out credit cards because of the rewards that they provide and the positive credit h... 11/05/2020

There are lots of people who have heard that one of the top ways to ensure the best mortgage rate possible is to refinance. At the same time, it is critical to make sure that this process is planned out accordingly.Therefore, there are a few steps that everyone has to follow to make sure they are able to handle the mortgage refinancing process in a smooth manner that leads to the best rate possible.Ask If A Refinance Is The Right StepThere are a lot of people who assume that a mortgage refinance is a financial win; however, it is important to keep the added costs in mind. For example, the refinancing process is going to lead to another closing. When this happens, there are going to be closing costs that must be considered.Therefore, the refinancing process could lead to a higher mortgag... 10/29/2020

Are you thinking about buying a new house or condo? If so, you’ve likely given some thought to your mortgage and as to how you can pay as little as possible in order to own your new home.Below we’ll share four easy steps that you can take to ensure you start out with an affordable monthly mortgage payment.Make A Large Down Payment On Your HomeThe easiest way to reduce your monthly payment is to invest as much as possible in your down payment. The less you have to borrow, the less you’ll be required to pay back.If you can put a sizeable amount down on your home you’ll find that your monthly payments are going to be very manageable. You’ll also save a lot of money in interest.Maintain A High Credit ScoreWhen a lender assesses your financial history they’ll take an in-depth look at your cr... 10/22/2020

When it comes to finding a home, this is an exciting time. Many people love looking at houses; however, the reality is that people also need to think carefully about how much house they can actually afford. Buying a home is a big decision and for many people this is going to be the most expensive purchase they ever make in their lives. Therefore, it is important to take the time to get this decision right. There are plenty of ways for people to calculate how much house they can actually afford. With a budget in mind, this will make the shopping process easier.The 28 Percent RuleOne of the top ways that people can figure out how much house they can afford is called the 28 percent rule. This is a simple formula that states that the house should only spend 28 percent of their gross income ... 10/08/2020

If you are looking to sell a home in the current market, then you know that the COVID-19 pandemic has changed the way many people look at the world and this includes their home.Therefore, buyers need to think about whether or not their homes have what buyers are looking for. While this is a hot market and sellers could quickly end up with multiple offers for their homes, they are more likely to get a higher offer if their home has one of the key features that buyers in today’s market will love.A Home OfficeWithout a doubt, this is one of the most popular features today. With the pandemic changing the way people work, workers are spending more time at home than ever before. Everyone is looking for a way to be productive at home and this means having a home office. A home office is essent... 09/10/2020