If you are on the fence about owning a home, a recent study from the Federal Reserve highlighted the wealth difference between homeowners and renters. As you can see in the image, homeowners have a 40x higher median net worth than renters! You may be surprised by how economical it is to buy a home, so let’s talk about making this happen.
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If you are on the fence about owning a home, a recent study from the Federal Reserve highlighted the wealth difference between homeowners and renters. As you can see in the image, homeowners have a 40x higher median net worth than renters! You may be surprised by how economical it is to buy a home, so let’s talk about making this happen.

ByBrandon Butler

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Did you know that you can purchase a multi-unit property, live in one unit, and then rent the other units to cover your mortgage payment?  It’s a great way for some people to get started with owning their own home and testing the waters for becoming a landlord. Qualifying for these types of homes may be easier than you think, so let’s talk if this sounds interesting to you!
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Did you know that you can purchase a multi-unit property, live in one unit, and then rent the other units to cover your mortgage payment?  It’s a great way for some people to get started with owning their own home and testing the waters for becoming a landlord. Qualifying for these types of homes may be easier than you think, so let’s talk if this sounds interesting to you!

ByBrandon Butler

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Did you know that you are not required to have a formal credit report history or credit score to buy a home? Many people use “non-traditional” credit to establish a credit payment history acceptable to lenders. Items you pay for each month, such as rent, cell phone, electricity, streaming services, and other monthly bills, demonstrate a credit history. So don’t let a lack of credit score hold you back; let’s talk!
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Did you know that you are not required to have a formal credit report history or credit score to buy a home? Many people use “non-traditional” credit to establish a credit payment history acceptable to lenders. Items you pay for each month, such as rent, cell phone, electricity, streaming services, and other monthly bills, demonstrate a credit history. So don’t let a lack of credit score hold you back; let’s talk!

ByBrandon Butler

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Considering a Home Equity Line of Credit [HELOC]? The consumer financial protection bureau just updated its publication “What You Should Know About a Home Equity Line of Credit”. If you would like a copy of this, just comment below, and I’ll send it to you! It’s filled with great tips to consider prior to applying for a HELOC.
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Considering a Home Equity Line of Credit [HELOC]? The consumer financial protection bureau just updated its publication “What You Should Know About a Home Equity Line of Credit”. If you would like a copy of this, just comment below, and I’ll send it to you! It’s filled with great tips to consider prior to applying for a HELOC.

ByBrandon Butler

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What is a Blended Credit Score? A blended credit score is one where the lender averages the credit scores for all borrowers on the loan.  In some cases, this will increase the credit score for the loan file, which may result in a loan approval and pricing that is more advantageous for the consumer. Blending or Averaging works for some home financing products, but not others.  Don’t let misunderstanding your credit stop you from owning a home.  Let’s Chat!
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What is a Blended Credit Score? A blended credit score is one where the lender averages the credit scores for all borrowers on the loan.  In some cases, this will increase the credit score for the loan file, which may result in a loan approval and pricing that is more advantageous for the consumer. Blending or Averaging works for some home financing products, but not others.  Don’t let misunderstanding your credit stop you from owning a home.  Let’s Chat!

ByBrandon Butler

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Unmarried Veterans seeking to purchase a home can both use their VA eligibility to buy a home.  This is known as a Joint loan, and the entitlement amount is split between the two veterans.  Also, the funding fee that is charged by VA for the loan is waived for disabled veterans. However, if only one veteran is disabled, then the non-disabled veteran only pays a funding fee on their portion of the loan!  Veterans, let’s talk about your situation!
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Unmarried Veterans seeking to purchase a home can both use their VA eligibility to buy a home.  This is known as a Joint loan, and the entitlement amount is split between the two veterans.  Also, the funding fee that is charged by VA for the loan is waived for disabled veterans. However, if only one veteran is disabled, then the non-disabled veteran only pays a funding fee on their portion of the loan!  Veterans, let’s talk about your situation!

ByBrandon Butler

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Did you know that items that do not show up on a credit report, such as rental history or other monthly bills, can be evaluated as a type of credit history?  That’s right, you do not need to have a credit score on some loans in order to buy a home! All those bills that you regularly pay each month count as a credit history.  If this sounds like your situation or you have more questions, please message me to discuss financing your own home.

Did you know that items that do not show up on a credit report, such as rental history or other monthly bills, can be evaluated as a type of credit history?  That’s right, you do not need to have a credit score on some loans in order to buy a home! All those bills that you regularly pay each month count as a credit history.  If this sounds like your situation or you have more questions, please message me to discuss financing your own home.

ByBrandon Butler

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Private Roads & Shared Driveways – VA released an important update for Veterans buying homes that have access through a private road or shared driveway.  VA will no longer require a maintenance agreement from the HOA or a joint maintenance agreement from the owners of the private road.  This requirement was cumbersome to obtain, so removing it is a win for Veterans seeking home financing!
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Private Roads & Shared Driveways – VA released an important update for Veterans buying homes that have access through a private road or shared driveway.  VA will no longer require a maintenance agreement from the HOA or a joint maintenance agreement from the owners of the private road.  This requirement was cumbersome to obtain, so removing it is a win for Veterans seeking home financing!

ByBrandon Butler

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I’ve heard the term “Departing Residence” on a real estate blog. What does that mean?  A departing residence is the home that you currently own.  Sometimes, clients choose to rent out that home versus selling it when purchasing another home.  Home loan programs vary as to how the rental income on your departing residence will be counted to offset your present loan obligation.  That’s why it’s important to talk about your situation first, before looking at new homes.  Let’s talk and I’ll help you review those options.
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I’ve heard the term “Departing Residence” on a real estate blog. What does that mean?  A departing residence is the home that you currently own.  Sometimes, clients choose to rent out that home versus selling it when purchasing another home.  Home loan programs vary as to how the rental income on your departing residence will be counted to offset your present loan obligation.  That’s why it’s important to talk about your situation first, before looking at new homes.  Let’s talk and I’ll help you review those options.

ByBrandon Butler

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Who should be on a home sales contract? Some of my clients are fortunate to have family members that help them buy a home by co-signing on the loan.  The question is often asked, who should be on the sales contract? If a non-occupant co-borrower is not going to take title to the property, then they are not a buyer and are not on the sales contract.  If they are on the sales contract, then they would be included on the title.
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Who should be on a home sales contract? Some of my clients are fortunate to have family members that help them buy a home by co-signing on the loan.  The question is often asked, who should be on the sales contract? If a non-occupant co-borrower is not going to take title to the property, then they are not a buyer and are not on the sales contract.  If they are on the sales contract, then they would be included on the title.

ByBrandon Butler

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Great Neighborhood, Fantastic Schools, Sad Property Options?  Did you know that you can buy a home that needs some love and renovate it prior to moving in? Many of my clients find a great property but they don’t want to buy something that needs a lot of work.  That’s where renovation loans can solve the problem for small fixes like bathrooms and kitchens, all the way up to additions, or foundation repairs.  These are standard home financing programs that add a renovation option to complete the repairs before you move in. It’s easier than you may think!  If this sounds interesting to you, comment below and I’ll send you a fact sheet!
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Great Neighborhood, Fantastic Schools, Sad Property Options?  Did you know that you can buy a home that needs some love and renovate it prior to moving in? Many of my clients find a great property but they don’t want to buy something that needs a lot of work.  That’s where renovation loans can solve the problem for small fixes like bathrooms and kitchens, all the way up to additions, or foundation repairs.  These are standard home financing programs that add a renovation option to complete the repairs before you move in. It’s easier than you may think!  If this sounds interesting to you, comment below and I’ll send you a fact sheet!

ByBrandon Butler

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Can I Buy a Home After Bankruptcy? Bankruptcy is not an easy thing to go through and many people believe the myth that they cannot own a home after bankruptcy.  My clients know that I will guide them through the process of owning after bankruptcy.  You do not have to rent forever, so let’s talk or comment below and I will send you my fact sheet called “Credit Issues – Am I Ready to Buy?”
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Can I Buy a Home After Bankruptcy? Bankruptcy is not an easy thing to go through and many people believe the myth that they cannot own a home after bankruptcy.  My clients know that I will guide them through the process of owning after bankruptcy.  You do not have to rent forever, so let’s talk or comment below and I will send you my fact sheet called “Credit Issues – Am I Ready to Buy?”

ByBrandon Butler

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Bonus & Overtime Income – Homebuying Tip!  If you receive Bonus or Overtime Income and want to include that income to qualify for a home loan, home financing lenders will generally require that this income is received and averaged over a two-year period.  However, there are times when a shorter time frame can be used so let’s discuss your situation!
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Bonus & Overtime Income – Homebuying Tip!  If you receive Bonus or Overtime Income and want to include that income to qualify for a home loan, home financing lenders will generally require that this income is received and averaged over a two-year period.  However, there are times when a shorter time frame can be used so let’s discuss your situation!

ByBrandon Butler

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Buying a Home as a Displaced Homemaker! – An individual that is a displaced homemaker or single parent will be considered a First Time Homebuyer if he or she had no ownership interest in a principal residence, other than a joint ownership interest with a spouse, during the preceding three-year time period. This is great news for some of you that want to take advantage of first-time homebuyer programs.  Let’s talk and build your road map to homeownership!
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Buying a Home as a Displaced Homemaker! – An individual that is a displaced homemaker or single parent will be considered a First Time Homebuyer if he or she had no ownership interest in a principal residence, other than a joint ownership interest with a spouse, during the preceding three-year time period. This is great news for some of you that want to take advantage of first-time homebuyer programs.  Let’s talk and build your road map to homeownership!

ByBrandon Butler

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If you are worried about rising interest rates and buying a home, there are options available that offer a lower rate at the beginning of your mortgage. These lower rates are fixed for a period of time and after that, are capped as to how much they can adjust up or down.  These are called Adjustable Rate Mortgages [ARMS] and are a good fit for some home buyers.  To learn more about these programs, I have a fact sheet that reviews how they work.  Just comment below and I’ll send it to you!
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If you are worried about rising interest rates and buying a home, there are options available that offer a lower rate at the beginning of your mortgage. These lower rates are fixed for a period of time and after that, are capped as to how much they can adjust up or down.  These are called Adjustable Rate Mortgages [ARMS] and are a good fit for some home buyers.  To learn more about these programs, I have a fact sheet that reviews how they work.  Just comment below and I’ll send it to you!

ByBrandon Butler

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