Believe it or not, there are restrictions on certain cash deposits and it is regulated by your bank and the U.S. government. As a consumer and homebuyer, it’s important to be aware of cash transaction reporting guidelines. The Bank Secrecy Act The Bank Secrecy Act sets the guidelines for banks and businesses to report large […]
When you apply for a mortgage, one of the first documents your loan officer will ask for is your bank statements. The main purpose of checking and reviewing all these document is make sure that you actually have the funds and means to pay your house payment without defaulting.
Whether you’re purchasing your first home or your second, lenders will look at your income to determine if you can afford a Kansas City home loan. Namely, they will analyze your gross income, or the income you make before taxes and deductions are made. As a home owner, here is what gross income means for […]
Community property is property jointly owned by a husband and wife. This typically includes all money earned, debts incurred and property procured during the marriage. There are eight community property states:
Your spouse has a lien or bank levy against them for an unpaid debt and creditors are insisting that you are also responsible for their debt. Are they right? When determining if you are responsible for the debt of your spouse, ask yourself these questions:
Earning money through investments can be tricky. You have some money you can invest, but don’t want to directly invest in the stock market. Investing in a certificate of deposit (CD) is a safe option that you can earn money from when done correctly.
Saving up your money in order to buy a home shouldn’t be complicated. But if you’re looking for a low-risk investment, a high-yield online savings account may be for you. These types of savings accounts are offered solely online and have higher interest rates than traditional savings accounts.
When you are a loan officer, you may have clients with money market accounts. It’s important to understand what a money market account is and how it works. That way, you can educate clients about the best investing options for them. What is a Money Market? A money market is a type of savings account […]
Do you need to save up money to buy a new home and be able to afford your Kansas City mortgage rates? Consider getting a certificate of deposit (CD). A CD is a common savings certificate that offers a low risk investment with a good return on investment (ROI) depending on how long you plan […]
Despite their home being their largest asset, many homeowners never calculate their true return on investment if they want to sell their home. When they do sell, they will receive what is known as return of capital. Viewing your residence as an investment rather than a sunken cost can make all the difference when trying […]