Self-Employed Homebuyers, I have great news to share!  When you are self-employed it can be a challenge to figure out your income when speaking to a lender.  The reason is that every self-employed person has an individual story to tell about their business and how they receive their income.  To simplify this, we now have access to a tool that makes this process easier.  Let’s talk if you are exploring buying or refinancing your home. 
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Self-Employed Homebuyers, I have great news to share!  When you are self-employed it can be a challenge to figure out your income when speaking to a lender.  The reason is that every self-employed person has an individual story to tell about their business and how they receive their income.  To simplify this, we now have access to a tool that makes this process easier.  Let’s talk if you are exploring buying or refinancing your home. 

ByBrandon Butler

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It’s Not Just a Credit Score Anymore!  Lenders financing homes traditionally used your credit score to determine your credit risk.  Now, lenders are required to add “Trended Credit Data” which takes a look at your pattern of credit usage over a period of time.  Credit Scores only showed a snapshot for a moment in time, whereas the Trended Data shows patterns over time.  By using both types of analysis, lenders are better able to predict future credit risk.  Have questions about your credit?  Let’s talk!
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It’s Not Just a Credit Score Anymore!  Lenders financing homes traditionally used your credit score to determine your credit risk.  Now, lenders are required to add “Trended Credit Data” which takes a look at your pattern of credit usage over a period of time.  Credit Scores only showed a snapshot for a moment in time, whereas the Trended Data shows patterns over time.  By using both types of analysis, lenders are better able to predict future credit risk.  Have questions about your credit?  Let’s talk!

ByBrandon Butler

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Related Real Estate Agent “Gifting” Their Commission to a Family Member. If you have a family member willing to donate their real estate commission to help you buy a home, it can be done. The key is understanding the program differences, as some will permit the commission to be used as a down payment, and other programs will only permit the gift of commission to be used toward closing costs. If this sounds like something you want to discuss, let’s talk! I’m here to help!
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Related Real Estate Agent “Gifting” Their Commission to a Family Member. If you have a family member willing to donate their real estate commission to help you buy a home, it can be done. The key is understanding the program differences, as some will permit the commission to be used as a down payment, and other programs will only permit the gift of commission to be used toward closing costs. If this sounds like something you want to discuss, let’s talk! I’m here to help!

ByBrandon Butler

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FHA does not require you to play favorites with your children! Did you know that FHA will allow parents to help their adult children purchase a home by acting as a Non-Occupying Co-Borrower? They will also allow you to do this for more than one child, provided the house will be their principal residence. If you are searching for ways to help your children buy a home, let’s discuss the options!
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FHA does not require you to play favorites with your children! Did you know that FHA will allow parents to help their adult children purchase a home by acting as a Non-Occupying Co-Borrower? They will also allow you to do this for more than one child, provided the house will be their principal residence. If you are searching for ways to help your children buy a home, let’s discuss the options!

ByBrandon Butler

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