Fixed Rate Mortgage Refinance Loan Santa Cruz CA
We shall cover some common questions that Santa Cruz CA Mortgage borrowers often ask in the article:
Santa Cruz CA mortgage borrowers looking for lowest mortgage rates in California will find the article helpful.
Determining the Need for Federal Income Tax Returns for Santa Cruz CA Mortgage borrowers:
The lender must obtain copies of the borrower’s signed federal income tax returns filed with the IRS for the past two years for the following sources of income or employment. If the borrower
earns 25% or more of his or her income from commissions;
is employed by family members;
is employed by interested parties to the property sale or purchase;
receives rental income from an investment property
receives income from temporary or periodic employment (or unemployment) or employment that is subject to time limits, such as a contract employee or a tradesman;
receives income from capital gains, royalties, real estate, or other miscellaneous non-employment earnings reported on IRS Form 1099;
receives income that cannot otherwise be verified by an independent and
uses foreign income to qualify
Uses income and dividend interest to qualify
Receives income from sole proprietorships, limited liability companies, partnerships, or corporations, or any other type of business structure in which the borrower has a 25% or greater ownership interest. Borrowers with a 25% or greater ownership interest are considered self-employed.
This is just a synopsis as income for self employed has more to it than above.
Call Santa Cruz CA mortgage expert below to get you the lowest mortgage rate on your refinance.
For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.
CURRENT REFINANCE RATES MONTEREY CA
Product Rate Change
30 year fixed 3.63% 0.02
15 year fixed 2.99% 0.07
5/1 ARM 3.07% 0.14
Artical by Roger Shanker
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