What happens when you use a variation on your legal name and apply for a home loan? While nothing prohibits you from using another variation of your name when taking title to the property, the title company will verify your identity through a Driver’s License or Passport. If the name on your ID does not match the loan application, then the loan application will need to be changed, which will delay the closing process. So, my best advice is to apply with the name listed on your ID to avoid any last-minute issues!
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What happens when you use a variation on your legal name and apply for a home loan? While nothing prohibits you from using another variation of your name when taking title to the property, the title company will verify your identity through a Driver’s License or Passport. If the name on your ID does not match the loan application, then the loan application will need to be changed, which will delay the closing process. So, my best advice is to apply with the name listed on your ID to avoid any last-minute issues!

ByBrandon Butler

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Did you know that self-employed people can use their business assets to purchase a home? For conventional loans, business assets are considered an acceptable source of funds for your required down payment, closing costs, or reserves.  If this sounds like your situation, let’s talk!  I’m here to help you make the dream of homeownership a reality.
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Did you know that self-employed people can use their business assets to purchase a home? For conventional loans, business assets are considered an acceptable source of funds for your required down payment, closing costs, or reserves.  If this sounds like your situation, let’s talk!  I’m here to help you make the dream of homeownership a reality.

ByBrandon Butler

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Is “Per Diem” income counted as income to qualify for a home loan? Unfortunately, no agencies allow per diem income to be counted as qualifying income because it is meant to cover the employee’s expenses. Therefore, a lender will not count that as part of your regular income.
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Is “Per Diem” income counted as income to qualify for a home loan? Unfortunately, no agencies allow per diem income to be counted as qualifying income because it is meant to cover the employee’s expenses. Therefore, a lender will not count that as part of your regular income.

ByBrandon Butler

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Don’t forget the debts on your paystub!  When applying for a home loan, it’s easy to forget the deductions on your paystub that may impact how much you qualify for since someone else handles that.  When discussing your financial situation be sure to look at your paystub.  I can quickly let you know about any deductions that may or may not be counted as debt when qualifying for a home loan.
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Don’t forget the debts on your paystub!  When applying for a home loan, it’s easy to forget the deductions on your paystub that may impact how much you qualify for since someone else handles that.  When discussing your financial situation be sure to look at your paystub.  I can quickly let you know about any deductions that may or may not be counted as debt when qualifying for a home loan.

ByBrandon Butler

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