Bonus & Overtime Income – Homebuying Tip!  If you receive Bonus or Overtime Income and want to include that income to qualify for a home loan, home financing lenders will generally require that this income is received and averaged over a two-year period.  However, there are times when a shorter time frame can be used so let’s discuss your situation!
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Bonus & Overtime Income – Homebuying Tip!  If you receive Bonus or Overtime Income and want to include that income to qualify for a home loan, home financing lenders will generally require that this income is received and averaged over a two-year period.  However, there are times when a shorter time frame can be used so let’s discuss your situation!

ByBrandon Butler

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Buying a Home as a Displaced Homemaker! – An individual that is a displaced homemaker or single parent will be considered a First Time Homebuyer if he or she had no ownership interest in a principal residence, other than a joint ownership interest with a spouse, during the preceding three-year time period. This is great news for some of you that want to take advantage of first-time homebuyer programs.  Let’s talk and build your road map to homeownership!
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Buying a Home as a Displaced Homemaker! – An individual that is a displaced homemaker or single parent will be considered a First Time Homebuyer if he or she had no ownership interest in a principal residence, other than a joint ownership interest with a spouse, during the preceding three-year time period. This is great news for some of you that want to take advantage of first-time homebuyer programs.  Let’s talk and build your road map to homeownership!

ByBrandon Butler

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FHFA Issues Final “Enterprise Seller/Servicer Minimum Financial Eligibility Requirements – Fannie Mae announcement via LL-2022-04 dated September 21, 2022, and Freddie Mac announcement via Bulletin 2022-19 dated September 21, 2022

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