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We will help you.
Upto 90% financing for
Purchases of up to $830,000.
USDA Loans for moderate income Families
0% down payment - 100% financing
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580 Credit Scores!!!
Have you ever been denied a mortgage loan due to tax write-offs?
As we get ready for tax season, we put together our W-2s or 1099s, maybe some medical expenses, our children education expenses and all receipts we’ve been collecting throughout the year so our CPA or Tax Preparer can claim them in the form of deductions to either get the fattest check back or simply pay the least possible taxes to Uncle Sam.
For the most part, any expenses claimed on tax returns may help save on taxes due, but did you know it can also reduce or even kill your borrowing ability?
In simple terms, the use of deductions reduces your qualifying income by the same amount of deductions reported. So for instance, a wage earner who reports $60,000 on his/her W-2 and who also reports unreimbursed employee expenses of $20,000 for that same year, his/her qualifying income will be reduced to $40,000. This will definetely affect person's borrowing ability.
While for self-employed borrowers the criterion is the same, there are more options as certain deductions not available to wage earners may not reduce qualifying income while do reduce taxes due.
This is why as we get into tax season whether you are a wage earner or self-employed be sure to contact us to share your coming plans as well as talk with your CPA or Tax Preparer ahead of time to let them know you are looking to get a mortgage loan. This way, you can strategically prepare your taxes, preserving your borrowing potential and still maybe saving on taxes as well.
At Clear Lending, we will conduct a free analysis helping you understand your chances of qualifying for a mortgage based on your current filed income documents. Simply contact us and we will help you understand key areas of concern you may want to consult with your CPA or Tax Preparer before filing your taxes so your plans to purchase a home in the near future are not shattered.
Please take this information into account in the coming tax season.
Don't wait any longer and find out how much you can get Pre-Approved for.
Whether you are considering purchasing or refinancing an existing mortgage loan, Clear Lending can help you. Simply complete our secure and encrypted Pre-Approval Form online and we will contact you right away to review best options for you.
This advertisement is not an offer for an extension of credit. Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.
Joan was such a pleasure to work with! When Quicken denied my client's loan, Joan stepped in immediately and made every effort to make sure my client was approved. Joan was always available when I called. I am going to definitely refer him to future clients. Thanks Joan! It was a pleasure working with you.
Hola a todas aquella personas que siguen de cerca Clear lending houston tx. Primeramente decirles que no sientan miedo de tomar una decisión y acercarse para buscar información. Se que para muchos piensan que la compra de casa es un gran problema o un proceso tedioso, Yo también pensé lo mismo pero nada les puedo decir que desde que llegue a la oficina de clear lending donde fui bien recibido ya sabia que formaba parte de la gran familia que es clear lending por la buena atención el ambiente positivo y donde se respiraba aires de logro. Tambien les puedo decir que la profesionalidad y el conocimientos de estas personas hacen que este largo proceso sea menos pesado y mas agradable. Cuando existen personas que conocen lo que estan haciendo hacen los procesos mas faciles, les digo asi porque no solo es yo quiero tal casa o otra. Les digo que no, a lo largo de este proceso es donde comienzas a encontrar lo que quieres aprendes de varios tips que son proporcionados por un gran agente que es Joan gracias a su conocimiento y sus consejos logre obtener la casa que no pensé tener. Independientemente de pensar en mi presupuesto y mis posibilidades la ayuda suya fue muy importante para mi decisión final logrando cumplir este gran sueño.
Thank you so much Joan for helping me get approved and close on my beautiful house after being denied by AMCAP and CORNERSTONE over silly stuff. I signed a contract with Stormi Harris from NEWMARK homes and she pretty much requested me to get approved with their preferred lenders. First, I went to AMCAP and later I was sent to CORNERSTONE. Both first approved me but after waiting and a second review or something like that denied me for not having 2-year employment history with same employer and for a couple of silly old issues on credit. At that point, I had given NEWMARK homes over $13,000 which sometimes as per all communications I felt builder I was not going to get back if I didn’t get approved. Then I after searching on google for local lenders I was lucky enough to find Clear Lending and after sending an approval request I got a call from Broker Joan Gallardo. I advised him about the urgency and after I sent him my documents requested he gave me peace of mind by telling me I had 90% chance of being able to close. Joan was so clear and precise with what to expect I felt I was on the right place. After few conditions we had to clear I got the good news I was Clear-To-Close. I am so thankful I want everyone to know this guy rocks and if you are buying a brand new house maybe you want to avoid builder lenders if you don’t have everything perfect. Loan Officers will tell you everything is ok but as I lived it I can see they had no idea what underwriting may come back with after waiting and waiting for an approval. Soo scary!!!! Thanks Clear Lending for saving me from a huge loss and helping realize my dreams. I will refer you all my friends or whoever ask me if I know a good lender!!!
