Can you buy a home while on Temporary Leave? If you are still employed and on temporary leave, chances are good you can buy a home. The lender will document that you are still employed, that you intend to return to work, and will document any assets you have available after your down payment and closing costs. Depending on the date you return to work, the lender may consider your regular employment income or your temporary leave income, along with the assets available to “tide you over” until you return to work. Let’s talk if you are on temporary leave and want to buy now!
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Can you buy a home while on Temporary Leave? If you are still employed and on temporary leave, chances are good you can buy a home. The lender will document that you are still employed, that you intend to return to work, and will document any assets you have available after your down payment and closing costs. Depending on the date you return to work, the lender may consider your regular employment income or your temporary leave income, along with the assets available to “tide you over” until you return to work. Let’s talk if you are on temporary leave and want to buy now!

ByBrandon Butler

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Can a seller credit be used to pay off the buyer’s debt so that they qualify for a mortgage loan? In markets where seller credits are normal, you may wonder how these credits can be applied to help you buy a home. For conventional or FHA loans, you can use seller credits to pay for closing costs, prepaid expenses, or even points to lower your rate. However, you cannot use them to pay down your debt to qualify for a loan. There is one exception to this, however, and that is a VA loan for Veterans. For VA loans, the credit from the seller can be used to pay off borrower debt to qualify. If you are thinking about buying a home, let’s talk!
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Can a seller credit be used to pay off the buyer’s debt so that they qualify for a mortgage loan? In markets where seller credits are normal, you may wonder how these credits can be applied to help you buy a home. For conventional or FHA loans, you can use seller credits to pay for closing costs, prepaid expenses, or even points to lower your rate. However, you cannot use them to pay down your debt to qualify for a loan. There is one exception to this, however, and that is a VA loan for Veterans. For VA loans, the credit from the seller can be used to pay off borrower debt to qualify. If you are thinking about buying a home, let’s talk!

ByBrandon Butler

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If you work for a business owned by a family member, home finance lenders may require more information from you to prove that you do not have ownership of the business. Additionally, they may require a longer history of employment to demonstrate that you are receiving income consistently from the business. If you work for a family member, let’s talk, and I will answer any questions you have about buying a home.
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If you work for a business owned by a family member, home finance lenders may require more information from you to prove that you do not have ownership of the business. Additionally, they may require a longer history of employment to demonstrate that you are receiving income consistently from the business. If you work for a family member, let’s talk, and I will answer any questions you have about buying 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.