26 THE QUEENS COURIER • FEBRUARY 7, 2019 FOR BREAKING NEWS VISIT WWW.QNS.COM
Call Now & End Your Tax Nightmare!
Co-Author of the
best selling book
“Breaking the Tax Code”
Salvatore P. Candela, EA, ATA, ABA
Enrolled Agent - Tax Advisor
Tax Filing and Mortgage Loans
Before you are going to look for a house and putting in an offer it is important that you
get some information first. First of all before you do your 2018 tax returns you have to keep
an eye on your deductions. Secondly, do not expect a big refund due to lower deductions.
Lots of folks don’t understand the concept of mortgage loans these days. Mortgage loans
are not as easy as they used to be. We look at every income very carefully, especially the
tax returns and if you have any unnecessary deductions this will lower your income. With
self-employment we average out the last 2 years of tax returns. We do have a program
where we can go with a 1 year tax return but it requires a 20% down payment.
Besides tax returns you need to look at your credit. I am talking about your credit score.
This plays a very big role when applying for a mortgage loan.
Make sure when you are ready to buy a house or just shopping for a house that you do
not make any big transactions. This will hurt your ability to buy that house. Also, try and
refrain from using your credit card. Make certain that you pay your credit card bills on time
as well as all of your utility bills. Any lateness will harm your credit standing.
Before you shop around for a house you need to do some homework. Sit with an
experienced loan officer who has plenty of knowledge in this area. Find out if you will
qualify for that mortgage loan you seek. Find out what your monthly mortgage payment
will be and what you can afford. Remember, buying a 2 family house (which will help you in
your mortgage payment) compared to purchasing a 1 family house. With a 1 family house
the entire mortgage payment will be your sole responsibility.
Remember, refrain from renting your basement. You will put yourself at risk of getting
violations from the buildings department.
We have been servicing the community in the mortgage industry for the past 23 years.
Please call today for all of your mortgage needs and set an appointment. We will be more
than happy to assist you.
Allied Mortgage Group
164-19 Hillside Avenue
Mohammed Jan Fahim
Cell # 516-348-3428 Office# 718-521-6870