 |
About Silver Spring: Moving to
Silver Spring, Maryland? Get info here... |
 |
Relocating?: Free real
estate information & relocation package if you're relocating to Silver
Spring, MD |
 |
School Information: Silver Spring
schools and the education system in Maryland: kindergarten, elementary, high
schools, colleges & universities |
 |
Local Weather: Weather in
Silver Spring, Maryland: spring, summer, winter, and fall climate
changes |
 |
Local Real Estate Market: About the Silver Spring, Maryland Real Estate Market |
 |
Local Economy: Find Out More About the Silver Spring, Maryland Area Economy & Job Market |
 |
Neighborhoods Silver Spring, Maryland Neighborhood Information |
 |
Local Maps & Links Silver Spring, Maryland Maps & Useful Local Web Sites |
 |
Silver Spring Photo Gallery: Tour
Maryland in pictures |
Please Sign Up For The
Latest Listings and the Latest Real Estate News
Financing Your Home >If You Are Self Employed
There's no question that it could be more difficult for you to get a mortgage loan if you are a free lance viola player than if you are a government accountant. Traditionally, lenders have been more cautious when evaluating loan applications of buyers who are self-employed than people who work for a regular salary.
However, if you are self-employed, there is no reason for you to shy away from applying for a home mortgage loan, especially if your earnings have been in the same field for at least two years. It is a good idea to meet with one or more loan officers before you begin your search. They will probably want to analyze your tax returns for the past 2 or 3 years, keeping in mind that many self employed people can look impoverished on paper, since you can write off some expenses that salaried individuals can not. Try to get pre-approval from the lender, and ask for a letter stating that you have pre-qualified for a loan which your real estate agent can attach to any offer you submit on a home. This will make you more attractive to the sellers.
|
| Q |
What criteria determines the hottest real estate markets?
|
| A |
Job/personal income growth; population/household growth; housing affordability/appreciation; and current inventory of homes for sale. |
See More Real Estate Trivia > |
|
|
|