If you are self employed and are planning on purchasing or refinancing a home in 2010, let us review your financials before you file your 2009 Tax Return. You and your accountant should know what income you need to qualify with before you file your 1040s.

New lending guidelines with Fannie Mae and Freddie Mac require lenders to get a copy of your tax returns directly from the IRS before your loan closes. If you know what income is needed to qualify for a loan, you may pay more in income tax this year, but you will qualify for the loan.

Don't be fooled by lender's offering low rate and minimal down payment no income verification loans. We have them available as well, but the rates are much higher than conventional mortgage rates, and the down payment requirement may be as much as 25-40%.

Call Rob Kaiser for a consultation at 908-203-8680, ext 268.