CENTURY 21 CUDDY



Posted by CENTURY 21 CUDDY on 9/29/2019

As the workforce changes and a growing number of companies seek out contractors and freelancers, many Americans find themselves in a gray area when it comes to their income. They may put in full-time hours, but on their taxes they work for themselves.

Mortgage lenders are cautious about who they lend to. They want to make sure you are a low-risk investment who has reliable, predictable income to ensure that they’ll earn money off of your loan.

This can sometimes make it difficult for freelancers, contract workers, or the self-employed. Not only might your taxes be unconventional, but your income could vary depending on the time of the year and the amount of business you receive.

It’s easy to see why many people would be anxious about applying for a mortgage under these circumstances. However, if you’re self-employed, there’s no need to worry. You can still get approved for a mortgage at a fair interest rate--you just need to do a bit of work to provide the right documents to your lender.

In this article, we’ll show you what documents and proof of income you’ll likely need and how to present it to a lender to make the process run as smoothly as possible to get you approved for your mortgage. Here’s what you need to do.

Organize your records

Before applying for a mortgage, it’s a good idea to take a look at your record-keeping process. As a self-employed worker, you’re probably already used to tracking your own income. However, this will help the lender analyze your income easier and move the process along more quickly.

Having a master spreadsheet of your dated invoices, paid amounts, and the names of your clients is a good place to start. You’ll also want detailed, easy to read information for your previous employers, landlords, references, and any other information you think will be pertinent.

Next, gather your tax documents for the last three to five years. As a self-employed worker, you likely file a Schedule C (Form 1040) and a Schedule SE. Make sure you have copies of these forms.

Dealing with deductions

Many self-employed workers write off business expenses in their tax returns. Travel expenses, internet, and other costs associated with doing business are all ways to save by reducing your taxable income. Doing so can save you money, but it can also reduce your net income which is what lenders will see when you provide them with your information.

If you’re hoping to get approved for a bigger loan, one solution is to plan your taxes in the year prior to applying for a mortgage. Make fewer deductions than you normally would to increase your net income.

Be ready to clarify

When a mortgage lender is reviewing your information, make sure you are open and available to provide any information that can be helpful to them in considering your application. Being prompt and accurate with your responses will signal to your lender that you are willing to work with them.





Posted by CENTURY 21 CUDDY on 9/25/2019


88 Highland St, Milford, MA 01757

Single-Family

$415,000
Price

6
Rooms
3
Beds
2
Baths
Charming split level set back on a beautiful green lot. Three bedrooms, an office, two full bathrooms, gleaming newly refinished hardwood floors, cozy fire places in both family and living rooms. Open kitchen with stunning granite and new matching stainless steel appliances. Perfect home for outdoor entertaining with a big rear deck overlooking wooded yard. Home is in close proximity to schools, downtown Milford, shops, and grocery stores. First showings at open house on Sunday 8/25 11:00AM-1:00PM.
Open House
Sunday
September 29 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 88 Highland St, Milford, MA 01757    Get Directions

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Categories: Price Change  


Posted by CENTURY 21 CUDDY on 9/25/2019


88 Highland St, Milford, MA 01757

Single-Family

$415,000
Price

6
Rooms
3
Beds
2
Baths
Charming split level set back on a beautiful green lot. Three bedrooms, an office, two full bathrooms, gleaming newly refinished hardwood floors, cozy fire places in both family and living rooms. Open kitchen with stunning granite and new matching stainless steel appliances. Perfect home for outdoor entertaining with a big rear deck overlooking wooded yard. Home is in close proximity to schools, downtown Milford, shops, and grocery stores. First showings at open house on Sunday 8/25 11:00AM-1:00PM.
Open House
Sunday
September 29 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 88 Highland St, Milford, MA 01757    Get Directions

Similar Properties





Categories: Open House  


Posted by CENTURY 21 CUDDY on 9/22/2019

If you want to buy your dream house in the near future, you likely will need to put together a competitive offer to purchase. That way, you can boost the likelihood of receiving an immediate "Yes" from a property seller after you submit your homebuying proposal.

Ultimately, it helps to know what differentiates a competitive homebuying proposal from a lowball one. If a homebuyer understands what to offer for a residence, he or she should have no trouble purchasing the right residence at the right price.

To better understand how to acquire your dream house at the lowest-possible price, let's take a look at three tips to help you determine what to offer for a residence.

1. Study the Housing Market Closely

The housing market experiences ebbs and flows. Therefore, a real estate sector that favors homebuyers one day may favor home sellers the next. And if you fail to learn about the current state of the real estate market, you may struggle to put together a competitive offer to purchase your ideal residence.

Analyze the prices of available houses in your area, the prices of recently sold houses in your preferred cities and towns and other housing market data. With this information in hand, you can find out whether you're operating in a buyer's or seller's market. Then, you can craft an offer to purchase your dream residence that accounts for the present state of the real estate market.

2. Weigh the Pros and Cons of Your Dream Home

No house is perfect, and even your dream home may have its fair share of flaws. Fortunately, a homebuyer who assesses the pros and cons of a house may be better equipped than ever before to submit a competitive offer to purchase this residence.

If you view a house multiple times, you can learn about all aspects of this home and assess any property damage. After you obtain these home insights, you can create a competitive offer to purchase that accounts for the house's current condition.

3. Collaborate with a Real Estate Agent

When it comes to purchasing a house at a price that matches your expectations, it generally is beneficial to work with a real estate agent. This housing market professional will do everything possible to help you buy your dream home at a price that fits your budget.

A real estate agent understands the ins and outs of the real estate sector and can help you map out a successful homebuying strategy. He or she first will offer insights into available homes in your preferred cities and towns. Next, when you find your dream residence, a real estate agent will help you craft a competitive homebuying proposal. And if your offer to purchase is accepted, a real estate agent will make it easy to navigate the final steps of the homebuying journey.

Ready to streamline your quest for your ideal house? Use the aforementioned tips, and you can improve your chances of acquiring your dream home at a price that you can afford.




Categories: Buying a Home   buying tips  


Posted by CENTURY 21 CUDDY on 9/19/2019


19 Quinlan Road, Framingham, MA 01701

Rental

$2,600
Price

7
Rooms
3
Beds
2
Baths
Home located at the end of cul-de-sac near Schools and Parks..proximity to Major Highways and commuter Train to Boston or Worcester...Features include 3 Bedrooms and full Bath on first floor..Family Room and Office plus second Full Bath on Lower Level..Wood Deck off Kitchen perfect for entertaining..Gas Heat..one Car Garage with storage area..private Rear Yard..Looking for a quiet location and home in excellent condition..November 1st Occupancy..
Open House
No scheduled Open Houses

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Tags: Framingham   Real Estate   Rental   01701  
Categories: New Homes  




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