- Real Estate Talk with Scott Nelson - Mortgages - This weeks episode notes

Another great show this week, special thanks to Elisa Balboni of Mid-Island Mortgage for the great discussion on mortgages. Amazing how fast 1 hour flies by. We'll be having part 2 of the show soon to continue on about mortgages. It's such a detailed subject that 1 hour isn't enough. Here's the link to part 1 of the show:

Here's the show notes on topics we discussed.

Elisa can be contacted for further info and details at:
Elisa Balboni
508-317-2198 Mobile
Mid-Island Mortgage Corporation
400 East Cummings Park
Woburn, MA 01801
(781) 722-1700

First Consideration in applying for a mortgage are the Income Requirements:

• W2'd Employee

• Overtime/Commisions/Bonuses

• Self-employed

• Owning your own business/partner of a business

• Another income source is Social Security, disability or pension income

• Can Second job income be used to qualify?

• How will changing jobs effect an ability to qualify?

The Second Consideration in applying for a mortgage are your Assets, money reserves:

• Acceptible sources of assets

• Is a gift an acceptable source of my downpayment?

The Third Consideration in applying for a mortgage is your credit:

• Ways to improve your credit

• Charge Offs/Collections

• Credit inquiries

• Bankruptcy

• Bad Credit

Reblog this post [with Zemanta]

Popular Posts