Mortgage Blog

Self-Employed Workers Face Mortgage Hurdles - WSJ Article

It is true that the Self Employed borrower normally hits a wall when it comes to qualifying for a mortgage when asked for their Federal tax returns. The process by which your accountant works their magic is the often the exact opposite of what the lenders want to see with regards to income. After a long exercise of averaging income in conjunction with preparing a year to date profit and loss and reviewing allowable add backs the self-employed borrower usually gets stuck not qualifying. The borrowers run businesses and earn income but they just are unable to satisfy the lender requirements for ...

April 19th, 2018 | self-employed borrower, bank statement loan, Mortgage Loan Process, Traditional Mortgage, Self-Employed Workers Face Mortgage Hurdles - WSJ Article

QM versus Non QM...What is its significance for you?

A Qualified Mortgage (QM) represents a definitive set of qualifying criteria as defined by the government under Federal Dodd Frank regulations.  You can think of this as a prism, more or less, with the perfect loans by definition falling inside the protective prism and all of the other loans falling outside into the Non QM or Non-Qualified Mortgage bucket. The difference between QM and Non QM to you could be something as subtle as a slightly higher debt to income ratio or slightly lower credit score or profile.  A QM loan may have the most attractive rate and cost profile for yo...

April 5th, 2018 | Non QM, Mortgage Loan Process, Specialized Forward Mortgages, QM, foreclosure, Short Sales, QM versus Non QM...What is its significance for you?

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Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

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Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.