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!
|

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.

Restricted Stock Units or Restricted Stock as Income – What You Need to Know When Buying a Home! Lenders will first look at how the income has been distributed to you, followed by the likelihood that the income will continue. How the income is calculated to qualify for the loan depends on whether the income is received in the form of shares or cash and the length of time you have received compensation. If this type of income is part of your compensation, let’s talk, and I’ll answer your questions about using this income to buy a home.
|

Restricted Stock Units or Restricted Stock as Income – What You Need to Know When Buying a Home! Lenders will first look at how the income has been distributed to you, followed by the likelihood that the income will continue. How the income is calculated to qualify for the loan depends on whether the income is received in the form of shares or cash and the length of time you have received compensation. If this type of income is part of your compensation, let’s talk, and I’ll answer your questions about using this income to buy a home.

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.

If you work for a family-owned business, there are some changes to the guidelines that you need to know! Conventional loans will no longer allow future employment contracts or salary increases from a family-owned business that are effective after the closing date to qualify for the loan. However, future employment or salary increases for non-family-owned companies are still permitted. If you work for a family-owned business, let’s talk, and I’m happy to answer your questions.
|

If you work for a family-owned business, there are some changes to the guidelines that you need to know! Conventional loans will no longer allow future employment contracts or salary increases from a family-owned business that are effective after the closing date to qualify for the loan. However, future employment or salary increases for non-family-owned companies are still permitted. If you work for a family-owned business, let’s talk, and I’m happy to answer your questions.

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.

Will a lender count a debt against me if someone else pays the loan? When someone has a loan that they are obligated under, and another person pays that loan each month, we look at the payment history. Generally speaking, if we can document that the other person has made 12 on-time payments or more, we do not need to count that debt against you when qualifying for a home loan. If this is your situation, let’s talk!
|

Will a lender count a debt against me if someone else pays the loan? When someone has a loan that they are obligated under, and another person pays that loan each month, we look at the payment history. Generally speaking, if we can document that the other person has made 12 on-time payments or more, we do not need to count that debt against you when qualifying for a home loan. If this is your situation, 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.