Today, we will deep dive into why changing jobs is the worst thing to do while getting a mortgage loan. We will discuss different issues that you may encounter when applying for a loan. 

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We will briefly discuss why Lenders need tax returns and verification. How this will help you as a tax payer and what you should do in filling your tax return.

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If you or anyone that you know is thinking of getting a mortgage loan with an unemployment income, are they qualified? Let listen to this podcast or share this to anyone who needs to hear this.

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Effective January 19, 2021, FHA permits FHA mortgages for individuals classified under the DACA program with the U.S. Citizenship & Immigration Service (USCIS) and is legally permitted to work in the United States. This is huge news and will open up so many more opportunities for homeownership in 2021.

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In this episode, we will talk about Tax Return and Tax Return Verification. Why do mortgage lenders look for tax returns and tax return verifications? This is one of the biggest loans you’ll ever receive, and naturally, mortgage underwriters need to ensure your ability to repay it. Let's discuss why the tax return you provide a lender is not enough to qualify you for a mortgage.

Timestamp

00;00;32;00 When is Tax Season

00;01;02;15 What year is best for tax return verification

00;02;30;00 How to pull tax return verification 

00;04;44;00 Are you Self-employed and you want to write-off your taxes?

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In this episode, we will talk about the difference between a prequalification letter and a preapproval letter. We will dive deep into this topic with our guess Lacie Lugo. How understanding the difference can help you make or break the deal.

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In this episode, we will listen to an Interview with Antrechelle Schumack the owner of Schumack Group. How she made it in the Real Estate world and how she used the power of social media for her business.

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In this Episode, We had the pleasure of interviewing Barry Pryce, An Innovative Real Estate Entrepreneur. Who is currently working on a Property The Gardens of Hacienda Tecolote for the last three years. Let's get to know more about the project and learn from the man himself.

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Summary:

In today's episode,  We had the pleasure of interviewing Aleshia Hawkins, and she will share how she managed her Real estate business from the ground up. Get to know her story about how she transitioned from a full-time employee to a successful realtor. With over 20 years of experience in the industry, she will share her strategy and give advice about how to go through the real estate industry in 2021.

Timestamps:

(3:28.000) What Led Aleshia to be in a Real Estate business.

(11:36.000) Who do you look up to in the Real Estate industry?

(14:13.100) Was there any fear during the transition from the corporate world to the Real estate business?

(17:32.000) How did you navigate through your Real Estate business during 2020 and prepare for 2021?

(22:26.000) What to focus on this 2021 that will help the business grow

(25:35.600)Why is it important to educate people about Real estate?

(30:57.000) What Advise would you give for aspiring people who want to get into the real estate business in 2021

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Summary:

In this episode, we will be talking about How Credit Scores impact your Debt to Income Ratio. We will also discuss some of the General rules when it comes FHA, Conventional Loans, and VA. And how does the Debt to income ratio helps determine whether you qualify for a loan?

Timestamps

(1:15.000) What you need to know about Debt to Income Ratio

(1:34.500) Your situation is unique to you

(3:57.000) How to Calculate Debt to income for FHA loan

(6:51.000) Mortgage Companies Underwriting Approval system 

(9:37.000) Importance of Good Credit Score

(10:25.300) Compensating factors for FHA  

(12:24.000) Qualifying vs. Eligibility for VA

(14:26.300) Is Conventional loan Stricter that VA and FHA?

(15:15.100) Tips on How to Get a Good Credit score?

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