Fannie Mae will now permit 30-year payment schedules for Cash-Out Refinances on Manufactured Homes. Previously, they only allowed a 20-year payment schedule. Adjusting their guidelines will help more people qualify for this loan and offer additional options for pulling cash out from your property. This may be an excellent option for some homeowners, so let’s talk!
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Fannie Mae will now permit 30-year payment schedules for Cash-Out Refinances on Manufactured Homes. Previously, they only allowed a 20-year payment schedule. Adjusting their guidelines will help more people qualify for this loan and offer additional options for pulling cash out from your property. This may be an excellent option for some homeowners, so let’s talk!

ByBrandon Butler

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Restricted Stock Units or Restricted Stock as Income – What You Need to Know When Buying a Home! Lenders will first look at how the income has been distributed to you, followed by the likelihood that the income will continue. How the income is calculated to qualify for the loan depends on whether the income is received in the form of shares or cash and the length of time you have received compensation. If this type of income is part of your compensation, let’s talk, and I’ll answer your questions about using this income to buy a home.
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Restricted Stock Units or Restricted Stock as Income – What You Need to Know When Buying a Home! Lenders will first look at how the income has been distributed to you, followed by the likelihood that the income will continue. How the income is calculated to qualify for the loan depends on whether the income is received in the form of shares or cash and the length of time you have received compensation. If this type of income is part of your compensation, let’s talk, and I’ll answer your questions about using this income to buy a home.

ByBrandon Butler

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If you work for a family-owned business, there are some changes to the guidelines that you need to know! Conventional loans will no longer allow future employment contracts or salary increases from a family-owned business that are effective after the closing date to qualify for the loan. However, future employment or salary increases for non-family-owned companies are still permitted. If you work for a family-owned business, let’s talk, and I’m happy to answer your questions.
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If you work for a family-owned business, there are some changes to the guidelines that you need to know! Conventional loans will no longer allow future employment contracts or salary increases from a family-owned business that are effective after the closing date to qualify for the loan. However, future employment or salary increases for non-family-owned companies are still permitted. If you work for a family-owned business, let’s talk, and I’m happy to answer your questions.

ByBrandon Butler

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Will a lender count a debt against me if someone else pays the loan? When someone has a loan that they are obligated under, and another person pays that loan each month, we look at the payment history. Generally speaking, if we can document that the other person has made 12 on-time payments or more, we do not need to count that debt against you when qualifying for a home loan. If this is your situation, let’s talk!
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Will a lender count a debt against me if someone else pays the loan? When someone has a loan that they are obligated under, and another person pays that loan each month, we look at the payment history. Generally speaking, if we can document that the other person has made 12 on-time payments or more, we do not need to count that debt against you when qualifying for a home loan. If this is your situation, let’s talk!

ByBrandon Butler

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2-4 Unit Property Financing Just Got Better! Recent guideline changes now allow for a 95% LTV when buying a 2-4 unit property as an occupant of one of the units. Previously, the maximum LTV was 75%, so this change means a lot less of an investment on the homeowner’s part! If you are interested in purchasing a 2-4 unit property where you can live in one unit and rent out the others, let’s talk!
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2-4 Unit Property Financing Just Got Better! Recent guideline changes now allow for a 95% LTV when buying a 2-4 unit property as an occupant of one of the units. Previously, the maximum LTV was 75%, so this change means a lot less of an investment on the homeowner’s part! If you are interested in purchasing a 2-4 unit property where you can live in one unit and rent out the others, let’s talk!

ByBrandon Butler

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2-4 Unit Property Financing Just Got Better!  Recent guideline changes now allow for a 95% LTV when buying a 2-4 unit property as an occupant of one of the units.  Previously, the maximum LTV was 75%, so this change means a lot less of an investment on the homeowner’s part!  If you are interested in purchasing a 2-4 unit property where you can live in one unit and rent out the others, let’s talk!
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2-4 Unit Property Financing Just Got Better!  Recent guideline changes now allow for a 95% LTV when buying a 2-4 unit property as an occupant of one of the units.  Previously, the maximum LTV was 75%, so this change means a lot less of an investment on the homeowner’s part!  If you are interested in purchasing a 2-4 unit property where you can live in one unit and rent out the others, let’s talk!

ByBrandon Butler

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3-D Printed Homes – Can You Finance Those? Recent guideline updates for 3-D printed homes allow for financing for these types of homes and do not consider them ” unique ” properties for appraisal purposes when constructed using conventional building materials. Could this be the next wave of new homes? I would love to hear your opinions, so please comment below.
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3-D Printed Homes – Can You Finance Those? Recent guideline updates for 3-D printed homes allow for financing for these types of homes and do not consider them ” unique ” properties for appraisal purposes when constructed using conventional building materials. Could this be the next wave of new homes? I would love to hear your opinions, so please comment below.

ByBrandon Butler

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If a portion of your employment compensation is a housing allowance such as corporate, military, or parsonage/religious leader income, you may wonder how lenders consider this income when qualifying you for a home loan. The answer is that it varies based on program type, length of the income, and whether it is taxable.  If this is your situation, let’s talk before you start shopping for a home!
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If a portion of your employment compensation is a housing allowance such as corporate, military, or parsonage/religious leader income, you may wonder how lenders consider this income when qualifying you for a home loan. The answer is that it varies based on program type, length of the income, and whether it is taxable.  If this is your situation, let’s talk before you start shopping for a home!

ByBrandon Butler

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Life Estate Planning includes adding your beneficiaries to your assets so that they are already owners of that asset when you pass. For real estate purposes, these beneficiaries are added to the Property Title. When this happens, you may wonder whether the liabilities on the home count as debt when purchasing your own home. For conventional home financing, if you are on the Title but not on the note, none of the debt associated with the property is counted as your personal debt, including property taxes, insurance, and HOA fees.
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Life Estate Planning includes adding your beneficiaries to your assets so that they are already owners of that asset when you pass. For real estate purposes, these beneficiaries are added to the Property Title. When this happens, you may wonder whether the liabilities on the home count as debt when purchasing your own home. For conventional home financing, if you are on the Title but not on the note, none of the debt associated with the property is counted as your personal debt, including property taxes, insurance, and HOA fees.

ByBrandon Butler

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Condo financing is a bit more stringent due to the disaster in Florida and ongoing issues with the management of funds at the condo associations.  These new rules are meant to protect the consumer from buying a property that may be hard to sell or will burden the consumer with special assessments and deferred maintenance issues.  If you have your eye on a condo, we can talk first, and I’ll help you navigate the condo financing process.
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Condo financing is a bit more stringent due to the disaster in Florida and ongoing issues with the management of funds at the condo associations.  These new rules are meant to protect the consumer from buying a property that may be hard to sell or will burden the consumer with special assessments and deferred maintenance issues.  If you have your eye on a condo, we can talk first, and I’ll help you navigate the condo financing process.

ByBrandon Butler

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Manufactured Home Update! Conventional financing using temporary buydowns is now available for manufactured homes. This includes single-wide or larger. This is excellent news in a higher-rate environment because it can lower your payment for the first couple of years. If this sounds interesting, please DM me, and let’s talk!
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Manufactured Home Update! Conventional financing using temporary buydowns is now available for manufactured homes. This includes single-wide or larger. This is excellent news in a higher-rate environment because it can lower your payment for the first couple of years. If this sounds interesting, please DM me, and let’s talk!

ByBrandon Butler

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Big Win for ARM Financing!  Fannie Mae will now use the Note rate to qualify a borrower on a 7 or 10-year ARM.  Previously, they required the borrower to qualify at the higher of the note rate or the fully indexed rate.  7 & 10-year ARM rates are generally lower than fixed-rate financing and may be a good fit for clients who only need a fixed rate for a 7-10 period of time. If this option sounds interesting to you, let’s talk!
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Big Win for ARM Financing!  Fannie Mae will now use the Note rate to qualify a borrower on a 7 or 10-year ARM.  Previously, they required the borrower to qualify at the higher of the note rate or the fully indexed rate.  7 & 10-year ARM rates are generally lower than fixed-rate financing and may be a good fit for clients who only need a fixed rate for a 7-10 period of time. If this option sounds interesting to you, let’s talk!

ByBrandon Butler

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Fannie Mae Updates Medical Collection Rules!  Medical collections are no longer required to be paid off.  This is not true of all collections, so if you have a collection, let’s talk and find a great solution for you to finance a new home or refinance your current home.
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Fannie Mae Updates Medical Collection Rules!  Medical collections are no longer required to be paid off.  This is not true of all collections, so if you have a collection, let’s talk and find a great solution for you to finance a new home or refinance your current home.

ByBrandon Butler

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Real Estate Agents!  Big news just released from Fannie Mae!  You can now use your real estate commission for your down payment.  Previously, your real estate commission could only be used for closing costs.  Let’s talk about sharing this great news in one of your sales meetings.
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Real Estate Agents!  Big news just released from Fannie Mae!  You can now use your real estate commission for your down payment.  Previously, your real estate commission could only be used for closing costs.  Let’s talk about sharing this great news in one of your sales meetings.

ByBrandon Butler

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Did you know you can purchase a 2-4 unit property, live in one of the units, rent the other units, and cover all or most of your house payment? It’s true! I have many clients buying and financing this type of property to build equity and let the renters pay for a portion of their house payment. The programs to finance this type of home are the same programs for single-family homes. If this sounds interesting, let’s talk!
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Did you know you can purchase a 2-4 unit property, live in one of the units, rent the other units, and cover all or most of your house payment? It’s true! I have many clients buying and financing this type of property to build equity and let the renters pay for a portion of their house payment. The programs to finance this type of home are the same programs for single-family homes. If this sounds interesting, let’s talk!

ByBrandon Butler

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