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Lending Made Easy

Our mission at The Spring Mortgage Team is to be your best resource for financial advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about the lending process. Subscribe to this blog to get the latest news on loans for purchase, refinance, construction or cashout of residential and commercial property.

Wednesday, November 1, 2017

What Income Is Considered When Qualifying for a Mortgage?


When it comes to what income is considered when qualifying for a mortgage, certain types of income are verified in different ways.

What income is considered when qualifying for a mortgage?

These days, everything has to be verified through W2s, paystubs, or tax returns. Certain types of income are verified in different ways.

For example, a self-employed person would need tax returns to verify their income. A self-employed person is someone who owns 25% or more of a company or is a contract employee whose employer doesn’t take out taxes so they have to file their own.

For a W2 employee who has a commission or a bonus, if that bonus or commission is greater than 25% of their annual income, they also need tax returns.


"Understanding how incomes are verified for mortgages isn’t as difficult as you might think."


Understanding how incomes are verified for mortgages isn’t as difficult as you might think. If you have any questions, just give us a call or shoot us an email and we’d be more than happy to walk you through the process and explain exactly what the underwriter will be looking for. We look forward to hearing from you.

Tuesday, October 10, 2017

Need a Mortgage? Here's What You Need to Get Started


What’s required to get started on the mortgage approval process? Today, I’d like to give you some insight on that.

Today I want to give you a quick look at the mortgage approval process.

So, how do we get started?

First of all, you’ll need to provide my team and I with your name, social security number, address, residence history, employment history, and other information to complete the base of the application.

We can do this over the phone or in person. It all comes down to what you prefer.


"We want to take care of you as smoothly and quickly as possible."


From there, we can move on to discussing more relevant information, so that we can get you moving along with the process. We want to take care of you as smoothly and quickly as possible.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Tuesday, September 19, 2017

How Much Do You Really Need for a Down Payment?


A lot of people have questions about down payments. Today, I’m bringing you some answers.

Today, we’re going to be talking about down payments. This is a topic that raises a lot of confusion, which is why I’m here to clear up the subject. 

One of the main things people ask is, “How much do I need to put down?”

The truth is that it all depends. We need to ask ourselves if we can meet your financial budget, if we can meet your monthly payment requirements, and if we can buy the house you have in mind with the funds you have on hand.


"The amount people put down varies a lot more than some might tend to believe."


Most of our clients put down between 3% and 10%, but some put down more and others put down less. The amount people put down varies a lot more than some might tend to believe. 

We even have programs available that allow you to buy a home for nothing down at all.

Ultimately, we’d love to walk you through the process and determine what route is best for you.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.