Mortgage Companies Dallas Texas | Dallas Mortgage Lenders - Berkshire Lending

  Mortgage Hello! If you are  self-employed , and need to get a mortgage to purchase a house, but don’t show a lot of income on your tax returns — here’s an option for you… I wanted to spotlight one of our Alt Doc programs: Alternate Documentation loans are loans that allow you to use alternative documentation to prove your income. That is, other than the traditional Tax Returns, or W-2’s and Paystubs. Bank statement loans. Very simply we take the aggregate deposits of your bank statements (can be personal or business) and use this for your income. Variables of Bank Statement loans… 24 months of bank statements. 12 months of bank statements. 2 months of bank statements. 1 Month bank statement. The reason we offer multiple options for months is that sometimes a 12-month average won’t work as well for the borrower as one month. We offer down payments as low as 10% on owner-occupied bank statement programs. We also offer multiple ways of calculating deposits, which is very helpful if ther

Hello! Mortgage tip : If you are about to get into the loan process to buy or refinance a house — don’t go out and buy things on credit. It sounds simple, and you would think most people would know this without being told. I have a loan right now where a borrower got himself into trouble from doing just this very thing. There are two possible complications: 1) You have to explain the inquiries on your credit., and 2) It will raise your debt to income ratio if you take on additional credit. So, while you are in the loan process — don’t apply for anything that would involve credit (appliances, lawn equipment, etc.). That’s it for today.

  Tax Issues Hello! If you pay your property taxes apart from your mortgage payment, and you didn’t get them paid by the end of January they are now considered late with the county. There are two issues I see every year with regard to property taxes. …Issues that put people in tough spots. 1) Some people just don’t have the money saved up to pay their property taxes. …They might have had the money but had to use it in an emergency. …or any number of other things. 2) Some people   have an escrow account on their mortgage — but their mortgage company didn’t collect properly. This often results in an arrearage… This means your payments go way up until the escrow is caught up. If you are in either one of these situations — there’s usually an easy fix for it. …Refinancing. We can often refinance someone in either one of these situations, and we pay the property taxes through the new refinance loan.. …Not only that but usually at a lower rate and payment than they have now. Please let us kno