16 Feb Home Loans You Might Not Know About That We Close Every Day!
Our clients are often surprised by loan options we have that they were not familiar with. That is why we always suggest that clients with unique circumstances talk to us first! We might have an easy solution that could result in another home sold.
Here are a few scenarios – if these come up with your clients send them our way!
Property investors using a 1031 Exchange – people who are trying to sell an investment property can be hit with a tax bill from the sale of the property. A 1031 exchange can defer those taxes by exchanging one property for another by relinquishing it and exchanging it for an equally or higher valued property. A tax advisor or tax preparer can advise more about a 1031 Exchange and how it can tax defer the sale amount. We can help with our Investor Cash Flow product to get the deal closed as quickly as possible to meet the 1031 Exchange purchase deadline.
Self-Employed and 1099 Earners –If your homebuyer has been self-employed or a 1099 earner for at least two years, they might be eligible to use bank statements or 1099 earning statements instead of tax returns. Even if it has been less than two years, ask them to call us to find out more details on how our Bank Statement program works. We can advise them on when they might be eligible or another loan option that might work instead.
Qualify on assets to purchase or refinance – Many people think an asset loan is only for retirees. Our Asset Qualifier helps eligible people with unique situations. Self-employed people with a new business, divorce situations with large settlements or anyone who can use assets they already have to qualify. No tax returns or employment information is needed. This loan can be used for a new purchase or a refinance.
What is your homebuyer’s story? Whether it is similar to the above examples or completely different, we are here to listen and advise. It starts with a conversation!