Posts Tagged: ‘Taxes’

Home Loans For The Self-Employed

April 9, 2016 Posted by Andre Hemmersbach


Home Loans for the Self-Employed

Getting home loans for the self-employed borrower may be easier than you think. Tax season normally represents a time of financial pain, but for some self-employed individuals it could represent an opportunity!

Everyone knows that one of the factors a lender will review before approving a borrower for a home loan in their income. What most people do not know, is that there is flexibility in the documentation requirements for self-employed borrowers.

A little known policy loophole in some lender’s underwriting guidelines is the ability to only use a 12 month average of net income from self-employed borrowers. Not all lenders follow the policy and some loan officers just default to asking for the industry standard 2 years returns because they do not know any better. The problem with that is once the underwriter reviews 2 years tax returns, they cannot just “lose” the documentation per their agreements with their investors; they have to use the 2 year average. On the other hand if your loan officer is aware enough to review and catch it upfront, a self-employed borrower who had a terrible 2014 but a record breaking income year in 2015 could be off and running with an approval to purchase the home they deserve!

I know the above to be true as our office usually turns around one to two deals every month that have been declined elsewhere for this very reason.

Please call me to set up a free consultation to create a plan so that you can qualify for a home loan to purchase your house.

Uncle Sam Helps You Pay Your Mortgage

June 5, 2012 Posted by Andre Hemmersbach

County of Los Angeles Property Reassessment Deadline

November 4, 2011 Posted by Andre Hemmersbach

The County of Los Angeles has made it easier than ever to have have your property assessed at the correct value. The assessed amount directly relates to the amount of our annual propert tax bill and if the county still has your property assessed at 2007, 2008 or 2009 levels you could save a couple of thousand dollars if you move fast. You’ll have to move fast because the deadline to submitt your reassessment request must be in by November 30th, 2011 or you will have to wait until June 1, of 2012.

Even as little as a $50,000 reduction in property value could save you as much as $625.00 a year, thats $52.00 a month for filling out a form online. Seeing the average home price in the Southbay was above $500,000 in 2007  and a 15% price drop would equal $75,000, a quick investigation could pay off handsomely!

You will need your AIN number and your PIN number which will be on your annual tax bill. Also I suggest having comparable sales, unless you trust the Assessor Office to be fair in evaluating your propertry value. Since the County will ask for two comparable sales from your neighborhood dated from January 1 through March 31 of 2010, a quick call to a local Realtor or my self may be necessary. 

If you have any questions on how to proceed or need assistance with getting your comparables, I would be happy to help!

Office: 310 540-1330 #137

Link to County of LA online form:

Copy of mail in form: LA County reassesment form

Happy Thanksgiving!

Andre Hemmersbach

Is your CPA Going To Sabotage Your Homebuying Plans?

March 24, 2010 Posted by Andre Hemmersbach