Mortgage Blog

The RE still pretty good. Got two purchase loans Friday, and one Monday. So the demand is still strong. And also, there is news that 30 yr fixed interest rates are "expected" to stay at the current level for some time. Let's check a few months later.

Some borrowers asked why lenders needs K1 for the Tax returns. Normally K1 shows on the schedule E of the tax return. Please check the link below: https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-a-schedule-k-1-tax-form/L95lj0sJq.

Basically for investors, you will receive k1 when you have certain ownership in a company. And you will report your share of interest through schedule E. And the entity will file 1065S tax returns. 

But if you buy an ETF, you will get a K1 as well. And on the K1 it will show your ownership of 0.000015% or something like that, the lender will ask such K1 as well.