September 20, 2014
Flex Spending Accounts – A Primer
A Flex Spending Account (FSA) is a special yearly account to cover out-of-pocket expenses for healthcare and childcare. These accounts coincide with the healthcare plan offered by your employer. Your employer determines the maximum and minimum contributions you make to them in a year, usually around $2,500. At the end ...
September 16, 2014
How Do Lenders Look at Gift Funds
Getting married is always an exciting time, but it can be very costly as well. This can be troublesome to a newly-wed couple that wants to get out and buy their first home as quickly as possible. Luckily, some of the financial strain the couple might be looking at in ...
September 03, 2014
Underwriting a Self-employed borrower: The general rules to underwriting a self-employed borrower’s tax returns
Self-employed borrowers who are interested in obtaining a mortgage should gain as much information about the process as possible prior to starting. As many financial experts know, those borrowers who are in business for themselves will often find it more difficult to obtain a mortgage because of new federal guidelines ...
August 27, 2014
Looking to Purchase a Fee Simple Townhome?
QUESTION: I’m buying a “townhome.” I see Fee Simple Townhome mentioned a lot. Is a Fee Simple Townhome different from a Condominium? What does that mean and how does is impact the resale value, financing and overall ownership experience?
In order to answer buyer’s questions, we must differentiate between a condo ...
August 15, 2014
Several Reasons to Consider Creating a Living Trust as a Young Adult
Choosing the right legal vehicle to hold and grow your assets is key when deciding which estate planning mechanism that will suit your goals when you pass on. Living trusts have been heavily marketed over the past several years, and aside from the benefit of avoiding probate, there are several ...