A and N Mortgage

How to Get a Mortgage When You’re Self-Employed

Getting a mortgage while self-employed may be difficult because it adds additional layers of risk. However, it is not impossible. The key to securing financing is to prove to the underwriter that you, as the borrower, have had steady, consistent income on your last two years of tax returns. A self-employed borrower is defined as …

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How to Use Gifts for a Down Payment on a New Chicago Home

In today’s real estate market, lenders are requiring higher down payments than before the bubble burst in 2006. To meet this requirement, potential homebuyers are asking relatives to help fund their down payments and/or closing costs.  However, there are rules that apply when using gifts for these purposes. Gifts can only be used as a …

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