Mortgage Blog

Tax Return, More Than 5 properties, & The rates

February 8th, 2011 1:56 PM by Eric Fang

1)It's almost certain that the history low
rates are behind us. Good news is that
most of my clients got the low rates, if
not the lowest.

2)If you plan to use the rental income
for the purchases in 2010, please file
the tax returns as soon as possible.
Some lenders will allow rental income
by using rental agreements. Some only
by the rental income on tax returns.

3)If the family owns more than 4 financed
properties(for example, husband 3, wife 2),
if you file the tax returns jointly, and
with both names on the title, even if one
person is applying the loan, the lender will
count it as 5 financed properties, unless
the quit claim is completed before the
loan application.

4)The loan application for more than 4 financed
properties is a little bit difficult to qualify,
though I have one application is very near the
closing now.

Posted in:General
Posted by Eric Fang on February 8th, 2011 1:56 PM



My Favorite Blogs:

Sites That Link to This Blog:

1288 Kifer Road Suite 208
Sunnyvale, CA 94086