Found 2 blog entries tagged as Staten Island Property.

What happens if you find the dream Staten Island property that you want to buy, before you have made the sale on your old property? Ideally you would have sold your current home before you buy your new property. However, sometimes the transition doesn’t work out that way. You don’t want to give up the sale if you have found a bargain on your dream house, so is it possible to buy the property before you have made the sale?

The answer is yes, it is possible. You will need to find a financing option that will allow you to secure your next home before you have sold your existing property.

Getting a Bridge Loan

One option is a bridge loan. This is designed to wrap your payments for your current home and your future home into one loan, which can last…

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Being self-employed can sometimes make it trickier to secure a mortgage on your Staten Island property. However, it is not impossible.

One of the main reasons that being self-employed works against you when securing a mortgage is if you have a lack of proof of income in the form of tax records. If you are not an employee somewhere, you will not have a regular paystub that allows you to prove your earnings. You will likely receive your income from a number of different sources which can be difficult to track. Also, your freelance income or the profits from your small business will fluctuate over the years, making it even more difficult for the mortgage lender to assess.

This is why keeping your personal tax returns up to date and filed on time will…

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