Are you receiving Alimony, Child Support, or Separate Maintenance? If so, here are some important tips. Generally, you will need a legally binding agreement outlining the payments received. However, FHA loans will allow for voluntary payments when adequately documented.  There are also requirements for how long you have been receiving the payments and how long the payments will need to continue to use the income to qualify for a home.  Let’s talk, and I’ll fill you in on all the details for your situation!
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Are you receiving Alimony, Child Support, or Separate Maintenance? If so, here are some important tips. Generally, you will need a legally binding agreement outlining the payments received. However, FHA loans will allow for voluntary payments when adequately documented.  There are also requirements for how long you have been receiving the payments and how long the payments will need to continue to use the income to qualify for a home.  Let’s talk, and I’ll fill you in on all the details for your situation!

ByBrandon Butler

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Great News for Freddie Mac conventional home loans!  If you have applied for an installment agreement for taxes owed to the IRS, Freddie Mac will now allow lenders to provide a copy of the application outlining the balance and the terms requested. To calculate your monthly obligation, lenders will take the GREATER of the monthly amount on your application OR divide the balance owed by 72. Previously, those looking to finance a home had to wait on the IRS backlog for the formal agreement.  If this is your situation, let’s talk!
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Great News for Freddie Mac conventional home loans!  If you have applied for an installment agreement for taxes owed to the IRS, Freddie Mac will now allow lenders to provide a copy of the application outlining the balance and the terms requested. To calculate your monthly obligation, lenders will take the GREATER of the monthly amount on your application OR divide the balance owed by 72. Previously, those looking to finance a home had to wait on the IRS backlog for the formal agreement.  If this is your situation, let’s talk!

ByBrandon Butler

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Are you missing the opportunity to own a home because you fear the down payment and closing costs?  Many of my clients are surprised that owning a home may be much less costly than what mainstream “financial experts” tell you.  For instance, every state has resources for down payment or closing costs targeted towards affordable home options.  These programs may be the answer to owning vs. renting.  Let’s talk if you would like to learn more about available down payment or closing cost assistance!
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Are you missing the opportunity to own a home because you fear the down payment and closing costs?  Many of my clients are surprised that owning a home may be much less costly than what mainstream “financial experts” tell you.  For instance, every state has resources for down payment or closing costs targeted towards affordable home options.  These programs may be the answer to owning vs. renting.  Let’s talk if you would like to learn more about available down payment or closing cost assistance!

ByBrandon Butler

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Did you know that each state offers real estate tax exemptions for some homeowners? These exemptions vary by state, and the requirements to apply for the exemption are also different.  If you are curious about the real estate tax exemptions in your state, let’s talk!
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Did you know that each state offers real estate tax exemptions for some homeowners? These exemptions vary by state, and the requirements to apply for the exemption are also different.  If you are curious about the real estate tax exemptions in your state, let’s talk!

ByBrandon Butler

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Can you buy a home if you have delinquent taxes with the IRS?  Lenders will provide financing for your home as long as you have a repayment agreement with the IRS and there is no indication that a lien will be filed against you.  If delinquent taxes to the IRS is holding you back from buying a home, let’s talk! 
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Can you buy a home if you have delinquent taxes with the IRS?  Lenders will provide financing for your home as long as you have a repayment agreement with the IRS and there is no indication that a lien will be filed against you.  If delinquent taxes to the IRS is holding you back from buying a home, 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.