Significant Changes to Using Trust Income to Qualify for a Home Loan! Lenders will now require documentation that the trust income has been received for at least a year. Additionally, if the borrower is the account’s trustee, a letter documenting the trust income will not be permitted as proof of continuance. Instead, a bank statement will be necessary. Let’s talk if you are receiving Trust Income and want to finance a home!
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Significant Changes to Using Trust Income to Qualify for a Home Loan! Lenders will now require documentation that the trust income has been received for at least a year. Additionally, if the borrower is the account’s trustee, a letter documenting the trust income will not be permitted as proof of continuance. Instead, a bank statement will be necessary. Let’s talk if you are receiving Trust Income and want to finance a home!

ByBrandon Butler

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Fannie Mae will now permit 30-year payment schedules for Cash-Out Refinances on Manufactured Homes. Previously, they only allowed a 20-year payment schedule. Adjusting their guidelines will help more people qualify for this loan and offer additional options for pulling cash out from your property. This may be an excellent option for some homeowners, so let’s talk!
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Fannie Mae will now permit 30-year payment schedules for Cash-Out Refinances on Manufactured Homes. Previously, they only allowed a 20-year payment schedule. Adjusting their guidelines will help more people qualify for this loan and offer additional options for pulling cash out from your property. This may be an excellent option for some homeowners, so let’s talk!

ByBrandon Butler

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.