Cathy Lomasney's Blog
22 7 Th Ave, Chelmsford, MA 01863
Carefully document your incomeWhen you sit down with a lender and hand them your proof if income, you want to make it as obvious as possible that you're earning money in a reliable and predictable way. Lenders will want to see multiple documents that can help paint a better picture of your income and finances, including:
- Bank statements
- Schedule C tax forms
- Profit and loss tax forms
- Completed tax returns
- Credit score (they will run a credit check)
Separate your business and personal financesIf you own your own business, you likely have business banking accounts you use for expenses and invoices. But freelancers and contract workers often simplify things by just using their personal checking and savings accounts for income. To make things clear for lenders, you should put your income and business expenses into a separate business account. Not only will this make it easier for lenders to quantify your income, but they can also use this information to see that your expenses are for helping your business rather than personal spending.
Timing is everythingThere are a number of factors that go into choosing the right time to apply for a mortgage. Being self-employed only complicates the matter since your income might not be as steady as your average wage worker. You'll want to commit to a mortgage at a time when you've had at least two consecutive years of good, reliable income. You'll need to prove this with the aforementioned documents (bank statements, tax forms, etc.). Part of this planning could be to avoid large business expenses in the two years leading up to your mortgage application. This isn't always possible, of course, but it could be enough to boost your apparent income to get you approved for a better loan.
Seek specialized lendersSome lenders are aware that there is a large portion of the country made up of self-employed workers and small business owners. They go out of their way to work with people who are self-employed so they can give them fair deals on their mortgages. To find specialized lenders, you'll have to do some research online, but it could make all the difference when it comes to getting approved for the loan you're looking for.
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If you’re in the process of moving, you don’t necessarily need to hire a moving company. Hiring movers is only one option of many when it comes to getting your stuff from place to place. If you want to save some money on your move, you should check out alternatives to hiring movers.
If you don’t want to drive your own moving truck, but still could use some assistance on your move, you should take a look at container moving. You fill up the container with all of your stuff, and the company will get the container from place to place for you. This is especially helpful if you are doing a long-distance move.
You can always rent your own truck, pack your own stuff, and head out the door on your own. You’ll pay for gas and mileage, but have control of your own timeframe. Moving companies often have many different resources available to help you in the process including boxes and packing supplies. National companies provide convenient truck returns over most parts of the country where you’ll be, so it’s easy to get the truck back.
Ship Your Stuff
If you happen to be moving a long distance, sometimes, it’s more cost effective to let the big stuff go. Ship items like clothes, books, DVDs, and other personal belongings that can’t easily be replaced. Sell big items like beds and sofas.
You can use many different kinds of shipping services, or even use air cargo to get your things from one place to another. While you’ll need to purchase some furniture when you get to your final destination, this could be a good option, especially if you’re looking to start over, or if you don’t own a whole lot of furniture and large items.
Use Your Car
Your car is always an option to help you move no matter where you are moving to. Whether you’re moving across the country or just across town, you’ll probably need to pack your car. It’s also a lot of fun to have your car for a road trip on long distances. This way, you’ll have a lot of stuff with you, but you can still travel and see many things that you wouldn’t have seen otherwise.
Tips For Packing The Car
You want to be able to get the maximum packing space out of your car for the move, no matter how far you’re going. First, you should plan how you’ll pack ahead of time. You don’t want to save the task of packing the car for moving day. Also, you need to make sure that there will be room for every living thing that needs to go into the car like children and pets. Those are important and you definitely don’t want them all squished in between some boxes during a long move!