It’s so tempting to buy what you want now and spread out the payment over several months or longer.  Retailers know this, which is why it has become a popular way to shop.  What happens when you use this service and you are preparing to buy a home? Lenders consider these short-term loans as debt, and they may affect your ability to qualify for a new home.  Before you click that button, let’s talk, and I’ll walk you through how to prepare your finances for purchasing a new home.
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It’s so tempting to buy what you want now and spread out the payment over several months or longer.  Retailers know this, which is why it has become a popular way to shop.  What happens when you use this service and you are preparing to buy a home? Lenders consider these short-term loans as debt, and they may affect your ability to qualify for a new home.  Before you click that button, let’s talk, and I’ll walk you through how to prepare your finances for purchasing a new home.

ByBrandon Butler

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Homeowner Insurance terminology can be overwhelming, and choosing the right policy is crucial if you ever need it. Generally, you will hear these coverage options: Replacement Cost Value, Replacement Cost Coverage, and Actual Cash Value. Replacement Cost Value is the actual present-day cost in dollars needed to repair or replace the property with like-kind and quality. Replacement Cost Coverage is a provision in an insurance policy that states losses will be adjusted without a deduction for depreciation. Just because someone has replacement cost coverage does not mean it is sufficient to repair or replace fully, because the coverage has a policy limit. Actual Cash Value (ACV) is a provision in an insurance policy that states losses will be adjusted with a deduction for depreciation. ACV may be less than the original value of the property. Have questions about buying a home? Let’s talk!
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Homeowner Insurance terminology can be overwhelming, and choosing the right policy is crucial if you ever need it. Generally, you will hear these coverage options: Replacement Cost Value, Replacement Cost Coverage, and Actual Cash Value. Replacement Cost Value is the actual present-day cost in dollars needed to repair or replace the property with like-kind and quality. Replacement Cost Coverage is a provision in an insurance policy that states losses will be adjusted without a deduction for depreciation. Just because someone has replacement cost coverage does not mean it is sufficient to repair or replace fully, because the coverage has a policy limit. Actual Cash Value (ACV) is a provision in an insurance policy that states losses will be adjusted with a deduction for depreciation. ACV may be less than the original value of the property. Have questions about buying a home? Let’s talk!

ByBrandon Butler

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Did you know that VA offers several refinancing options for their Veteran Borrowers? This includes the Interest Rate Reduction Refinance Loan. With limited closing costs, this may be the perfect option for you. Oftentimes, an appraisal is not needed, making this refinance a smooth and easy process. Call today, and we can explore all of your options. Together, we can tailor the perfect refinance for you!
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Did you know that VA offers several refinancing options for their Veteran Borrowers? This includes the Interest Rate Reduction Refinance Loan. With limited closing costs, this may be the perfect option for you. Oftentimes, an appraisal is not needed, making this refinance a smooth and easy process. Call today, and we can explore all of your options. Together, we can tailor the perfect refinance for you!

ByBrandon Butler

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That’s amazing! BUT… don’t do anything until you talk to me first. Gifts from relatives and other approved individuals have to be documented in a very specific way. Depending on your loan program, this could include bank statements, cancelled checks, etc. Call me today to discuss how a gift could affect your loan process and what documentation must be provided. Buying Grandpa’s house and he wants to give you a gift of equity? I’ve got you covered on that too! Call today for details.
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That’s amazing! BUT… don’t do anything until you talk to me first. Gifts from relatives and other approved individuals have to be documented in a very specific way. Depending on your loan program, this could include bank statements, cancelled checks, etc. Call me today to discuss how a gift could affect your loan process and what documentation must be provided. Buying Grandpa’s house and he wants to give you a gift of equity? I’ve got you covered on that too! Call today for details.

ByBrandon Butler

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USDA has made manufactured home financing available in all states. This is a great win for those seeking a quality home at an affordable price! Many people don’t realize that the USDA offers 100% financing in areas designated as rural or far suburban areas. There are many contemporary styles of manufactured homes that are almost indistinguishable from stick-built homes. If this makes you curious, let’s talk about your options!
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USDA has made manufactured home financing available in all states. This is a great win for those seeking a quality home at an affordable price! Many people don’t realize that the USDA offers 100% financing in areas designated as rural or far suburban areas. There are many contemporary styles of manufactured homes that are almost indistinguishable from stick-built homes. If this makes you curious, let’s talk about your options!

ByBrandon Butler

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In many parts of the country, financial concessions are being offered to help you buy a home. As an example, credits from the seller, real estate agent, or lender may be common to help you gather the funds you need to buy a home. When an “interested party” like a seller, agent, or lender provides you with financial concessions, there are some limitations. The good news is that even with these limits, the concessions may add up to the difference between owning a home or staying a renter. If you are curious about concessions or programs that can help you own a home, let’s talk!
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In many parts of the country, financial concessions are being offered to help you buy a home. As an example, credits from the seller, real estate agent, or lender may be common to help you gather the funds you need to buy a home. When an “interested party” like a seller, agent, or lender provides you with financial concessions, there are some limitations. The good news is that even with these limits, the concessions may add up to the difference between owning a home or staying a renter. If you are curious about concessions or programs that can help you own a home, let’s talk!

ByBrandon Butler

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FHA and USDA recently changed their guidelines and will no longer permit non-permanent residents to participate in their programs.  This change will impact those who may be here legally but do not have permanent resident status.  As of today, we have not heard of any changes for conventional financing, so those options are still available for non-permanent residents.  If you have any questions, please message me or comment below.
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FHA and USDA recently changed their guidelines and will no longer permit non-permanent residents to participate in their programs.  This change will impact those who may be here legally but do not have permanent resident status.  As of today, we have not heard of any changes for conventional financing, so those options are still available for non-permanent residents.  If you have any questions, please message me or comment below.

ByBrandon Butler

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FHA announced that they are rescinding the “Reconsideration of Value” process that was put into place last year.  This process allowed a consumer to dispute the appraised value. Real estate agents are still permitted to submit additional information and comparables if they believe the value is incorrect. As of today, other types of financing still permit the consumer to dispute the value, such as conventional financing.  And VA loans have always had a process in place for the veteran to dispute a value.  If you have any questions, please message me or comment below.
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FHA announced that they are rescinding the “Reconsideration of Value” process that was put into place last year.  This process allowed a consumer to dispute the appraised value. Real estate agents are still permitted to submit additional information and comparables if they believe the value is incorrect. As of today, other types of financing still permit the consumer to dispute the value, such as conventional financing.  And VA loans have always had a process in place for the veteran to dispute a value.  If you have any questions, please message me or comment below.

ByBrandon Butler

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What is a “Rent Back Agreement”? When you purchase a home, there are times when a seller may ask to “rent back” the home after closing. There are many reasons why a seller may request this. For example, they may only want to move once, and the closing date on their new home is after this home’s closing date. Rent Back Agreements are generally not an issue provided they do not exceed 60 days, which is due to the requirements of your Deed/Security agreement required by your lender. If your seller requests this option, let’s talk!
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What is a “Rent Back Agreement”? When you purchase a home, there are times when a seller may ask to “rent back” the home after closing. There are many reasons why a seller may request this. For example, they may only want to move once, and the closing date on their new home is after this home’s closing date. Rent Back Agreements are generally not an issue provided they do not exceed 60 days, which is due to the requirements of your Deed/Security agreement required by your lender. If your seller requests this option, let’s talk!

ByBrandon Butler

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Great News from USDA!  USDA now offers financing for manufactured homes in all states.  Previously, this type of financing was only available in some states as part of a pilot program. USDA loans are offered in Rural areas of the country and offer 100% financing.  If you are considering this affordable option to buy a home, let’s talk, and I’ll fill you in on their program.
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Great News from USDA!  USDA now offers financing for manufactured homes in all states.  Previously, this type of financing was only available in some states as part of a pilot program. USDA loans are offered in Rural areas of the country and offer 100% financing.  If you are considering this affordable option to buy a home, let’s talk, and I’ll fill you in on their program.

ByBrandon Butler

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Thinking about buying a condo? Before you choose that option, comment below, and I’ll send you “The Condo Buyer’s Guide,” which reviews:
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Thinking about buying a condo? Before you choose that option, comment below, and I’ll send you “The Condo Buyer’s Guide,” which reviews:

ByBrandon Butler

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Feeling overwhelmed by debt? Considering a major home improvement? These are just a couple of reasons why my clients contact me about a cash-out refinance. It’s an excellent solution for tapping into your home’s equity to make your life a bit easier. Comment below, and I’ll send you “Does a Cash-Out Refinance Make Sense?” As always, I’m just a phone call or message away if you have any questions!
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Feeling overwhelmed by debt? Considering a major home improvement? These are just a couple of reasons why my clients contact me about a cash-out refinance. It’s an excellent solution for tapping into your home’s equity to make your life a bit easier. Comment below, and I’ll send you “Does a Cash-Out Refinance Make Sense?” As always, I’m just a phone call or message away if you have any questions!

ByBrandon Butler

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Owe Money to the IRS?  You may be wondering whether or not you can qualify for a home loan when you have outstanding IRS debt.  The key is to determine if a lien has been filed against you, or if you still have time to set up an installment agreement to pay your outstanding balance.  When you have an agreement in place, the monthly payment is viewed as a debt obligation.  However, a lien is viewed differently!  If you are curious about your situation, let’s talk! I’m happy to answer any questions.
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Owe Money to the IRS?  You may be wondering whether or not you can qualify for a home loan when you have outstanding IRS debt.  The key is to determine if a lien has been filed against you, or if you still have time to set up an installment agreement to pay your outstanding balance.  When you have an agreement in place, the monthly payment is viewed as a debt obligation.  However, a lien is viewed differently!  If you are curious about your situation, let’s talk! I’m happy to answer any questions.

ByBrandon Butler

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Are you currently receiving distributions from you retirement account and are considering buying or refinancing a home?  For home financing purposes, lenders will look at your current monthly income or total assets to determine how much you qualify for.  If adjustments need to be made on your distribution, I can help you determine how to do this in order to finance your new home.  I’m happy to answer any of your questions!
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Are you currently receiving distributions from you retirement account and are considering buying or refinancing a home?  For home financing purposes, lenders will look at your current monthly income or total assets to determine how much you qualify for.  If adjustments need to be made on your distribution, I can help you determine how to do this in order to finance your new home.  I’m happy to answer any of your questions!

ByBrandon Butler

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Are You Owed a Rebate? There is a fantastic new tool to check out Energy Rebates that are available for your property called the “Energy Savings Program Finder.”  Just answer a few quick questions, which does not require an email, and this free online tool will tell you the rebates you may qualify for! Many of my clients are using this tool to determine if it is the right time to make some improvements to the home.  If you would like the link to this service, comment below, and I’ll send it to you.
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Are You Owed a Rebate? There is a fantastic new tool to check out Energy Rebates that are available for your property called the “Energy Savings Program Finder.”  Just answer a few quick questions, which does not require an email, and this free online tool will tell you the rebates you may qualify for! Many of my clients are using this tool to determine if it is the right time to make some improvements to the home.  If you would like the link to this service, comment below, and I’ll send it to you.

ByBrandon Butler

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