How to Show Income When Getting A Home Loan - Mortgage Loan Help

Buying a New Home or Condo has been gaining momentum amongst First Time Home Buyers, Rehab Property Flippers, and Buy and Hold Cash Flow Investors.

When Buying a Home or Condo, you will want to get your loan pre-qualified first. Part of getting your home loan pre-approved is showing your income and how much house you can afford.

Watch this quick video where I interview a top loan consultant to explain the process of how to show income when getting a home loan. http://www.youtube.com/watch?v=8O0PNruU4kU



To determine your maximum San Diego mortgage amount, lenders use guidelines called debt-to-income ratios. This is simply the percentage of your monthly income (before taxes) that is used to pay your monthly debts. Because there are two calculations, there is a "front" ratio and a "back" ratio and they are generally written in the following format: 33/38.

The front ratio is the percentage of your monthly income (before taxes) that is used to pay your housing costs, including principal, interest, taxes, insurance, mortgage insurance, and homeowners association fees (when applicable). The back ratio is the same thing, only it also includes your monthly consumer debt. Consumer debt can be car payments, credit card debt, installment loans, and similar related expenses. Auto or life insurance is not considered a debt.

These are just guidelines and they are flexible. If you make a larger down payment or have sterling credit, the guidelines are less rigid. The guidelines also vary according to loan program. FHA guidelines, VA guidelines, and Conventional Loan Guidelines all vary.

Whether you want to buy a high end home or a nice comfortable starter home, Oliver will be more than happy to assist you regardless of your budget.

Oliver Graf

Premium Service, Proven Results!

10 Reasons Professional Investors and Real Estate Agents might want to consider outsourcing their Short Sales

With statistics now showing that 1 in 4 mortgages in the United States are upside down, there is no shortage of short sale business to be found. The question is what are you doing with them? Here are some thoughts to consider on whether to outsource the negotiations or try and negotiate yourself....

1) You have to have a Buyer to start the Short Sale process with the Lender. They will not even look at your package without an offer.

2) Short Sales can take a very long time to negotiate. You risk losing buyers because people want to buy NOW!

3) Short Sales can take a lot of time and effort. As a successful Real Estate Agent, you have better things to do than negotiating with the banks, you should be focused on listing and market properties, finding sellers, and finding buyers.

4) There are some states states where attempting to work a short sale for a homeowner can be looked at as breaking the law because you are “acting as a lawyer.”

5) The Lender will battle you on all aspects of your offer, including the commission. You must be prepared to fight the lender for what you are worth

6) You’re a professional Real Estate Agent, not a professional loss mitigator. Good negotiators have years of experience in the loss mitigation departments and understand how the loss mitigation process works.

7) Working with a negotiation company can benefit you because they have developed relationships with the Lenders that can expedite the Short Sale negotiation process.

8) A Short Sale requires stacks and stacks of extra paperwork that is outside of the normal forms you may be used to. Partnering with a loss mitigation team can help you because they already know the items each Lender requires and can provide them to the lender ahead of time to shorten the Short Sale process.

9) Meeting the BPO agent. Most good short sale negotiation companies will send someone out to meet the BPO agent so you can spend your time on more important things.

10) Short Sales will take your focus from the things you know you need to do in order to be a successful Real Estate Agent and have you working on tedious time consuming tasks. In my opinion its better to hand it over to someone else who has the experience doing the negotiations and focus on getting more business!!!

What has been you biggest challenge with short sales?

Contact me if you would like help finding a company to outsource your short sale negotiations too.


To your success,

Oliver Graf
Real Estate Expert




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16 Tips to bring you Massive Success

16 Tips to bring you Massive Success

1. Get and stay out of your comfort zone.

I believe that not much happens of any significance when we're in our comfort zone. When you are out of your comfort zone or uncomfortable, you are growing.

2. Never give up.

Almost nothing works the first time it's attempted. Just because what you're doing does not seem to be working, doesn't mean it won't work. It just means that it might not work the way you're doing it. If it was easy, everyone would be doing it!

3. When you're ready to quit, you're closer than you think.

There's an old Chinese saying that I just love, and I believe it is so true. It goes like this: "The temptation to quit will be greatest just before you are about to succeed." Most people quit when they are 3 feet from GOLD!!

4. With regard to whatever worries you, not only accept the worst thing that could happen, but make it a point to quantify what the worst thing could be.

Very seldom will the worst consequence be anywhere near as bad as a cloud of "undefined consequences." During the toughest times in my business when I felt like nothing was working I would just think to myself “This can’t kill me, one day I’ll look back on this and laugh!” Hahaha…

5. Focus on what you want to have happen.

Remember that old saying, "Whether you think you will or not, you are right." It is always so important to keep a positive mindset. 80% of your success will come from this.

6. Take things a day at a time.

No matter how difficult your situation is, you can get through it if you don't look too far into the future, and focus on the present moment. You can get through anything one day at a time. “This too will pass”

7. Always be moving forward.

Never stop investing. Never stop improving. Never stop doing learning. The moment you stop improving your organization, it starts to die. Make it your goal to be better each and every day, in some small way. Remember the Japanese concept of Kaizen. Small daily improvements eventually result in huge advantages.


8. Measure everything of significance.

I swear this is true. Anything that is measured and watched, improves. Keep track of your numbers. Hold yourself accountable and watch your business grow.

9. Anything that is not managed will deteriorate.

If you want to uncover problems you don't know about, take a few moments and look closely at the areas you haven't examined for a while. I guarantee you problems will be there.

10. Pay attention to your competitors, but pay more attention to what you're doing.

When you look at your competitors, remember that everything looks perfect at a distance.
What is your edge? What make you different? Why should someone work with you over the competition?

11. Never let anybody push you around.

Never let someone tell you “It can’t be done.” Don’t let other people’s opinion determine your success.

12. Never expect life to be fair.

Life isn't fair. You make your own breaks. Don’t let your down falls hold you back. You will fail many times before you succeed. Fail Forward Faster!!

13. Solve your own problems.

You'll find that by coming up with your own solutions, you'll develop a competitive edge. Masura Ibuka, the co-founder of SONY, said it best: "You never succeed in technology, business, or anything by following the others." Be you, and YOU will succeed!

14. Don't take yourself too seriously.

Lighten up. If you are walking around upset and uptight that is what you will get more of. Be happy and positive! None of us are in control as much as we like to think we are.

15. There's always a reason to smile.

Find it. After all, you're really lucky just to be alive. Life is short. Remember: "We're not here for a long time, we're here for a good time!"

16. Money is how business people keep score!

What’s your score?


To your success,

Sam Khorramian
Success Expert

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