Are you an Authorized User on a Credit Card?  Most people don’t think about the impact on your credit when you are an authorized user of someone else’s credit card.  However, when buying a home, the lender reviews your creditworthiness. As an authorized user, this may have a positive or negative impact on your credit. If you are curious as to how this affects your ability to buy a home, let’s chat!
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Are you an Authorized User on a Credit Card?  Most people don’t think about the impact on your credit when you are an authorized user of someone else’s credit card.  However, when buying a home, the lender reviews your creditworthiness. As an authorized user, this may have a positive or negative impact on your credit. If you are curious as to how this affects your ability to buy a home, let’s chat!

ByBrandon Butler

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If you are currently renting and are thinking about purchasing a home, a lender will review your rental history. Some of my clients pay cash for their rental property each month, so there is no “paper trail” such as a canceled check or other payment method. If this is your situation, you can still purchase a home. We just document your rental history in an alternative way. Let’s talk about your situation and come up with a plan!
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If you are currently renting and are thinking about purchasing a home, a lender will review your rental history. Some of my clients pay cash for their rental property each month, so there is no “paper trail” such as a canceled check or other payment method. If this is your situation, you can still purchase a home. We just document your rental history in an alternative way. Let’s talk about your situation and come up with a plan!

ByBrandon Butler

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Can you use retirement funds as income to qualify for a home loan?  Maybe!  To use retirement assets as income to qualify for a home loan, you must meet specific requirements.  These include having access to withdraw the funds in their entirety without being subject to a penalty or an additional early distribution tax. For most people, this means reaching the age of 59.5, which is the IRS age for withdrawals without penalty; however, there are some exceptions.  If you have questions about your income and buying or refinancing a home, let’s talk!
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Can you use retirement funds as income to qualify for a home loan?  Maybe!  To use retirement assets as income to qualify for a home loan, you must meet specific requirements.  These include having access to withdraw the funds in their entirety without being subject to a penalty or an additional early distribution tax. For most people, this means reaching the age of 59.5, which is the IRS age for withdrawals without penalty; however, there are some exceptions.  If you have questions about your income and buying or refinancing a home, let’s talk!

ByBrandon Butler

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Did you know that if you have a history of renting a room or part of your home, this may help you qualify for a home loan?  This is known as “Boarder Income”. Recent updates now allow borrowers to use this type of rental income as qualifying income to buy a home. If this is your situation, let’s talk, and I’ll fill you in on the details.
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Did you know that if you have a history of renting a room or part of your home, this may help you qualify for a home loan?  This is known as “Boarder Income”. Recent updates now allow borrowers to use this type of rental income as qualifying income to buy a home. If this is your situation, let’s talk, and I’ll fill you in on the details.

ByBrandon Butler

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Did you know there are home loans available that help you make energy upgrades to your home?  Many items are included in what can be upgraded. These programs have helped many homeowners keep their homes up to date and save on costly utility bills.   If you’d like to know more about these programs, please message me, and I’ll review your possibilities!
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Did you know there are home loans available that help you make energy upgrades to your home?  Many items are included in what can be upgraded. These programs have helped many homeowners keep their homes up to date and save on costly utility bills.   If you’d like to know more about these programs, please message me, and I’ll review your possibilities!

ByBrandon Butler

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The Consumer Financial Protection Bureau just announced big news! Medical debt and collections have always been problematic for millions of Americans applying for credit. The New Rule bans consumer reporting agencies from including medical debt information on credit reports and credit scores sent to lenders. It also ends the special regulatory carve-out that previously allowed creditors to use certain medical information in making lending decisions. If you were denied credit for a home loan due to medical bills, let’s talk! This new regulation may help you own your own home or refinance the home you have.
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The Consumer Financial Protection Bureau just announced big news! Medical debt and collections have always been problematic for millions of Americans applying for credit. The New Rule bans consumer reporting agencies from including medical debt information on credit reports and credit scores sent to lenders. It also ends the special regulatory carve-out that previously allowed creditors to use certain medical information in making lending decisions. If you were denied credit for a home loan due to medical bills, let’s talk! This new regulation may help you own your own home or refinance the home you have.

ByBrandon Butler

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Are Fundraising platforms such as ‘GoFundMe’ an option to raise funds to buy a home? Donated funds can get tricky because the agencies that create the rules for the industry do not directly address this specific issue.  If you are considering a fundraising platform to accumulate money for your down payment or closing costs, let’s talk first, and I’ll review the details with you.
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Are Fundraising platforms such as ‘GoFundMe’ an option to raise funds to buy a home? Donated funds can get tricky because the agencies that create the rules for the industry do not directly address this specific issue.  If you are considering a fundraising platform to accumulate money for your down payment or closing costs, let’s talk first, and I’ll review the details with you.

ByBrandon Butler

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If I’m only on the title to a property that I and my spouse own, will that obligation be counted against me if I want to buy another property? For conventional financing, housing debt obligations will only be considered if you, as the borrower, are personally obligated. This is also true in community property states. Let’s talk about how I can assist you in purchasing your next home.
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If I’m only on the title to a property that I and my spouse own, will that obligation be counted against me if I want to buy another property? For conventional financing, housing debt obligations will only be considered if you, as the borrower, are personally obligated. This is also true in community property states. Let’s talk about how I can assist you in purchasing your next home.

ByBrandon Butler

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Active Military & Veterans!  A government agency just published a free guide to Financial Readiness for active military and veterans.  I’ve had a chance to check this out, and it is full of fantastic tips, tools, and checklists to help you navigate the complexities of your finances while serving our country.  If you would like a free copy, comment below, and I’ll send it to you!
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Active Military & Veterans!  A government agency just published a free guide to Financial Readiness for active military and veterans.  I’ve had a chance to check this out, and it is full of fantastic tips, tools, and checklists to help you navigate the complexities of your finances while serving our country.  If you would like a free copy, comment below, and I’ll send it to you!

ByBrandon Butler

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Did you know that you do not need a credit score to buy a home? There are so many ways to document your credit history, such as your rental payment history, a cash flow analysis of income vs. expenses, utility bills, and other monthly recurring expenses. I will help you document a solid credit history to show that you are able to repay a home loan. If you have been told that you need a credit score by other lenders to buy a home, don’t believe them, and let’s talk!
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Did you know that you do not need a credit score to buy a home? There are so many ways to document your credit history, such as your rental payment history, a cash flow analysis of income vs. expenses, utility bills, and other monthly recurring expenses. I will help you document a solid credit history to show that you are able to repay a home loan. If you have been told that you need a credit score by other lenders to buy a home, don’t believe them, and let’s talk!

ByBrandon Butler

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Did you know that in some states, real estate taxes are paid in “arrears,” and in others, they are paid “in advance”?  When real estate taxes are paid in “arrears,” this results in a significant tax credit from the seller when you purchase a home!  If your State collects real estate taxes “in advance,” this means you owe the seller real estate tax at closing. The difference can mean either less money needed for closing or a lot more!  If you’re not sure how your area’s real estate taxes are paid, let’s talk!  I’m happy to show you how this one little item may affect your purchasing power!
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Did you know that in some states, real estate taxes are paid in “arrears,” and in others, they are paid “in advance”?  When real estate taxes are paid in “arrears,” this results in a significant tax credit from the seller when you purchase a home!  If your State collects real estate taxes “in advance,” this means you owe the seller real estate tax at closing. The difference can mean either less money needed for closing or a lot more!  If you’re not sure how your area’s real estate taxes are paid, let’s talk!  I’m happy to show you how this one little item may affect your purchasing power!

ByBrandon Butler

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With interest rates starting to normalize, many of you are considering refinancing your home or even buying another home.  If you recently changed employment, let’s talk!  Some people are surprised to find that even the smallest of changes can affect your ability to get home financing! I’ll review your situation and let you know if there may be any potential issues.
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With interest rates starting to normalize, many of you are considering refinancing your home or even buying another home.  If you recently changed employment, let’s talk!  Some people are surprised to find that even the smallest of changes can affect your ability to get home financing! I’ll review your situation and let you know if there may be any potential issues.

ByBrandon Butler

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The best deals on housing are the “fixer uppers” that no one else is looking at! Did you know that we have programs that allow you to buy a home and finance repairs, improvements and even additions to the property? You can even refinance a home using one of these programs to update your house. It’s not as difficult as most people think and renovation financing is an affordable way to buy a home or refinance your existing home to fix it up! If this sounds interesting to you, let’s talk!
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The best deals on housing are the “fixer uppers” that no one else is looking at! Did you know that we have programs that allow you to buy a home and finance repairs, improvements and even additions to the property? You can even refinance a home using one of these programs to update your house. It’s not as difficult as most people think and renovation financing is an affordable way to buy a home or refinance your existing home to fix it up! If this sounds interesting to you, let’s talk!

ByBrandon Butler

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Question: I’m considering buying a home that I want to renovate prior to moving in, do I have to make payments on my present home and the new loan?Answer: One of the benefits of renovation lending is that you can build into the mortgage your new loan payments so that you don’t have two housing payments at the same time! This option is only available if the home is uninhabitable during construction. Each program has different time limits so if you are thinking about a renovation loan, let’s talk first!
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Question: I’m considering buying a home that I want to renovate prior to moving in, do I have to make payments on my present home and the new loan?Answer: One of the benefits of renovation lending is that you can build into the mortgage your new loan payments so that you don’t have two housing payments at the same time! This option is only available if the home is uninhabitable during construction. Each program has different time limits so if you are thinking about a renovation loan, let’s talk first!

ByBrandon Butler

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Did you have a timeshare that ended in Foreclosure?  Many people think that this goes onto their credit record as a real estate foreclosure.  Home financing lenders look at a timeshare foreclosure as an installment debt.  So, while it may affect your credit score, it does not trigger a waiting period to finance real estate.  If this happened to you, let’s talk!
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Did you have a timeshare that ended in Foreclosure?  Many people think that this goes onto their credit record as a real estate foreclosure.  Home financing lenders look at a timeshare foreclosure as an installment debt.  So, while it may affect your credit score, it does not trigger a waiting period to finance real estate.  If this happened to you, let’s talk!

ByBrandon Butler

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