One recent change that will affect many folks who are looking to buy or refinance their homes:
If you are self-employed or a contract worker, beware of write offs on your tax returns. There are no longer any stated income loans – you tell us you make $100,000 per year but your tax return shows you made $30,000 – that’s the number you’ll be qualified on, the number on the tax returns. You will also have difficulty qualifying if you have declining income of more than 20%.

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