Whether you’re buying or selling a home, you may come across what is known as an escalation clause. Simply put, this practice increases your bid on a home by a specified amount whenever there is a competing bid. However as simple as it sounds, there are a lot of rules and intricacies to follow and […]
When you sell your home, you may see some tax benefits and consequences depending on your situation. For some, sellers may see tax breaks, and for others, they may have to pay more taxes. Here are some common tax benefits and consequences of selling your home:
As a loan officer, you will get clients who are looking into buying a home, be it their first or second, and find that financing isn’t available to them. Therefore, it’s up to you to help them find viable alternatives. For a potential home buyer, a wrap around loan offers a way to get into […]
When it comes to buying a home, it’s sometimes best to leave your spouse off of the loan so you are able to obtain a home. Depending on your state, a non-purchasing spouse could have a huge influence on your ability to qualify for a home mortgage, regardless of if their name is on the […]
Boosting your credit score can sometimes be no easy feat. If you find that your credit score is poor, don’t panic. With the right methods and a little patience, there are ways to make your score better. Get a Secured Credit Card Using a credit card the right way will help you establish a positive […]
Sometimes, you need money for a short term emergency, but don’t want to resort to pay day loans or a credit card. Or perhaps you need to build up your credit history so you can get a Kansas City home loan. You can easily take out a loan by borrowing against any certificates of deposit […]
If you are planning on purchasing a home, it’s important to understand the difference between annual percentage rate (APR) and annual percentage yield (APY). These two items differ enough in how they work that they can significantly affect how much you pay each month in interest.
A transfer on death account (TOD) is an investment account that is designed to make the transfer of an account to a designated beneficiary easier. Transfer on death accounts helps those who want to avoid going through probate. What is Probate? Probate is a legal process that takes place after a person passes away. It […]
Believe it or not, there are restrictions on certain cash deposits and it is regulated by your bank and the U.S. government. As a consumer and homebuyer, it’s important to be aware of cash transaction reporting guidelines. The Bank Secrecy Act The Bank Secrecy Act sets the guidelines for banks and businesses to report large […]
When you apply for a mortgage, one of the first documents your loan officer will ask for is your bank statements. The main purpose of checking and reviewing all these document is make sure that you actually have the funds and means to pay your house payment without defaulting.