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What Kind Of Paperwork Does One Need For A Mortgage Pre-Approval?

what kind of paperwork do you need for a mortgage pre-approval?

What Kind Of Paperwork Does One Need For A Mortgage Pre-Approval?

The first step when buying a home, buying investment real estate or buying real estate for business purposes should be getting pre-qualified or pre-approved for a loan. A pre-approval letter lets buyers know they have the ability to get a loan to buy real estate.  Additionally it lets buyers know how much real estate they can afford and usually what the payment terms will be.  By having one’s paperwork in order prior to starting the pre-approval process the buyer can ensure a pre-approval process that runs smoothly and is done quickly enough so they can start with the actual shopping for real estate.

Real Estate Buyer Who Are W2 Wage Earners

For those who work for an employer who provides them a W2 form at the end of the year the W2 form will be something lenders will want to see as part of the pre-approval process. Generally lenders are looking for a copy of the last two to three years of W2 forms provided from an employer. If a buyer works multiple jobs then make sure the W2s from each employer is presented as the income from those forms will be used to determine the buyers overall income.  The more income a buyer can show the higher their pre-approval can be.  The W2 also shows the stable income flow of the buyer which will help in making the determination to approve for a mortgage or not.

Lenders will also be looking for the last two pay stubs from the buyer’s job.  The pay stubs show how much the buyers pay currently is and also details the...

Advanced Tips For Real Estate Investing

Advanced Tips For Real Estate Investing

Advanced Tips For Real Estate Investing

Real estate investors have probably heard the typical investment advice before: get pre-approved, work with a real estate agent, run the numbers, have cash reserves etc. This article looks to go beyond the typical real estate investing advice and provide more in depth guidance that can help investors protect themselves and their investing partners.  This article will explore investing in real estate with partners, syndication investing, getting legal advice and more.

Investing With An LLC

If an investor is purchasing property with cash, with a hard money, or commercial loan then generally it is best to have the property registered in a limited liability company or LLC.  Some lenders may even require the investor to register the property into an LLC based on their lending requirements.  An LLC provides an extra layer of protection to the investor in that if someone were to sue based on an accident that happens at the property the LLC will limit liability to what is owned by the LLC and keep personal assets out of the equation.  Of course an LLC must be properly run and managed and if the LLC was not run properly courts have been known to ignore the LLC and allow personal assets to be considered during a lawsuit.

Generally an LLC can be created in any state and some may choose to create one in their home state.  LLCs formed in one state can own property in another state but the investor must review the local laws with regards to registering the LLC as a foreign LLC.  For example in Ohio an LLC formed in another state...

Tips For Creating A Better Landscape

tips for creating a better landscape for your house

Tips For Creating A Better Landscape

A beautiful yard gives the homeowner more of an enjoyable and pleasing space to work or relax in. Whether one just wants to enjoy the outdoors for leisure purposes or one wants to get hands on involved in creating the look of their yard a great landscape makes a home look more appealing. Even more so if a home is soon to be put up for sale a great landscape helps draw the buyers in.  This article provides some tips on having a great looking landscape that is sure to have an impact.

Start With The Basics For A Great Landscape

The quality of the soil around your house will dictate the type of plants, grass and trees one can and cannot have.  The climate as well plays an important roll.  Certain fruit trees (like oranges) will work great in many areas of Florida. For an area like Cincinnati, Ohio though oranges will not survive the winter.

Cincinnati and many parts of Ohio and Northern Kentucky are known for having dense clay soils.  These dense clay soils can stop things from growing or flourishing if the proper prep work has not been done.  Some homeowners treat their soils with various additives in order to break up the clay and bring forward a more loose soil like structure.  One of the first places for Greater Cincinnati area homeowners to start is at their local extension, which provides soil testing. By getting ones soils tested they will know what nutrients are lacking and what should be added in order to boost the quality of it.

For those who do...

Should You Sell Your Home Before You Buy A New One?

Should You Sell Your Home Before You Buy A New One?

Should You Sell Your Home First Before You Buy A New One?

When the time comes for a homeowner to consider buying a new home the thought comes to whether they should sell their current home first or buy the next home and then sell.  Whether they are buying to change locations, to upsize or downsize due to change in family size the decision to sell first or not is an important decision.  Homeowners have various factors to consider including whether they can afford two mortgages at the same time, whether they can find another home in time once their current home is under contract with a buyer, or do they have some place to move to temporarily if their house sells and closes before they can buy a new one. This article looks at the various options homeowners have when looking at the decision to sell their home first before buying a new one.

Affordability Should Be The Top Factor When Deciding To Sell A Home First

If a homeowner needs equity from their current house in order the make the down payment for their next house or the ability to pay two mortgages will severely hamper the household budget then the best choice is for the homeowner to sell their current home first and then find another home.  Depending on the market and how many homes are available for sale it may be easy for a homeowner to have their house under contract for sale and find another house to buy before they close.  The contract for closing can be arranged such that the homeowner can either stay in their current home until they close on the new home with agreement of the buyer or move into the new...

Where To Get Great Tacos In Cincinnati

Where To Get Great Tacos In Cincinnati

Where To Get Great Tacos In Cincinnati

Who doesn’t love tacos. Whether soft tacos or hard tacos and fillings of ground meat fish or vegetables sometimes a taco is what is needed to hit the spot.  Cincinnati being a foodie town is no stranger to tacos and this post looks at some of the great taco places in and around the Greater Cincinnati area.  Presented in no particular order, be sure to check out the places below when a taco craving comes on.  (All the restaurants on this list offer both meat and vegetarian options)

Gomez

Nothing goes along better with great tacos than great homemade salsa which Gomez has.  Salsa recipes passed down through family tradition go great on their tacos, nachos, burritos and their unique turtle offering.  We are sure you will agree based on the pictures that the food will be great.  Gomez is located in the Walnut Hills and Over the Rhine neighborhoods of Cincinnati. Meat and vegetarian options are available.

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