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financing a car for a teenage driver

Do you have a teenager that is about to start driving? Do you really want your teenager driving your car? Having recently bought my car, I knew that there was no way that I was going to trust my 17 year old son to take it out with his buddies. I wanted to find a more affordable option for him. When I found a car that was perfect, I just had to come up with the money to buy it. Then, I had to decide if I wanted to get a car loan and pay for full coverage insurance, or if I wanted a personal loan with higher interest rates. Go to my site to use the charts that helped me decide how to go about financing a car for my son.

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3 Things Self-Employed People Can Do To Improve Their Chances Of Getting A Mortgage

If you are self-employed you might have already realized that getting approved for a mortgage can be very hard. Mortgage lenders may not be as willing to loan to you, since they see the self-employed as posing a greater risk. However, even if you are self-employed you can still get approved for a loan, there just are a couple things you need to know. Here are some tips.

1.Be Careful About Your Adjusted Gross Income On Your Taxes

In order to verify your income, the mortgage lender will look at your taxes and your adjusted gross income (AGI). This number does not reflect the amount that you bring in each month; instead, it will reflect the amount that you have after all of your deductions. If you are self-employed you can deduct a ton of things on your taxes. This is great when it comes to how much tax you owe, but it can be challenging when it comes to buying a house. The years leading up to buying a house you should minimize your deductions so that your AGI can reflect how much you really make, so that you can get qualified for a house.

2. Put More Money Down On The House

Another thing that you can do to improve your chances of getting approved for the house is to put more money down on the house. When you put more down on the house you pose less of a risk to the lender, since if you default on the loan the lender can take your down payment and any equity you have in the house to cover their losses, even after they sell the house. This means that they won't lose as much money, so they will loan to you.

In addition, if you put down more money on the house you will avoid paying private mortgage insurance. This can save you money each month.

3. Wait Longer

This may seem frustrating to many people, but if you are self-employed you may just need to wait longer before you can purchase the house. The longer you have at your current job, and the more income you can prove, the less of a risk you become. So if you have at least 2 years at your current work, and you have 2 years worth of taxes you will find that it is easier to get approved for the loan.

These are just a couple things you can do if you are self-employed to improve your chances of getting approved for a home loan. For more informaiton, contact companies like Assurance Financial.