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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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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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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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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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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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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Selling Personal Property to Raise Cash to Buy a Home?  If you have collectibles, equipment, boats, RVs, cars, or other types of personal property you no longer use, you may be considering selling it to raise cash to buy a home. No matter how small or large the item, it’s essential to keep a paper trail of the sale and proof of ownership. This could mean receipt of the sale, documentation of value, and the deposit of the funds into your account.  Depending on what you are selling, more or less documentation may be required.  Let’s talk if this is your situation and map out a plan!
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Selling Personal Property to Raise Cash to Buy a Home?  If you have collectibles, equipment, boats, RVs, cars, or other types of personal property you no longer use, you may be considering selling it to raise cash to buy a home. No matter how small or large the item, it’s essential to keep a paper trail of the sale and proof of ownership. This could mean receipt of the sale, documentation of value, and the deposit of the funds into your account.  Depending on what you are selling, more or less documentation may be required.  Let’s talk if this is your situation and map out a plan!

ByBrandon Butler

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Retired & Buying a Home? If you are transitioning into retirement with your 401(k)/IRA, you may be wondering how a lender considers that asset as income to qualify for a home loan. To use your retirement account as income, you need to set up a distribution from your account(s) that is paid monthly. The lender will then use that income as your monthly income. When you retire, you may receive several types of income. Let’s talk, and I’ll help you figure out how the lender will approach your individual situation!

Retired & Buying a Home? If you are transitioning into retirement with your 401(k)/IRA, you may be wondering how a lender considers that asset as income to qualify for a home loan. To use your retirement account as income, you need to set up a distribution from your account(s) that is paid monthly. The lender will then use that income as your monthly income. When you retire, you may receive several types of income. Let’s talk, and I’ll help you figure out how the lender will approach your individual situation!

ByBrandon Butler

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Hey! That’s On My Property! Can you finance a home when your neighbor’s fence, shed, or other structure is partially on the property you want to purchase? The technical term for that is “encroachment.” When a survey or appraisal is completed, and it shows a structure on your neighbor’s property encroaching onto your property, it can sometimes cause an issue. The key is determining the severity of the encroachment and understanding the allowances that lenders will make. Questions? Let’s Talk!
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Hey! That’s On My Property! Can you finance a home when your neighbor’s fence, shed, or other structure is partially on the property you want to purchase? The technical term for that is “encroachment.” When a survey or appraisal is completed, and it shows a structure on your neighbor’s property encroaching onto your property, it can sometimes cause an issue. The key is determining the severity of the encroachment and understanding the allowances that lenders will make. Questions? Let’s Talk!

ByBrandon Butler

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When buying a home, will time spent in college or trade school be considered part of my work history? Yes, most programs available to finance your new home consider the time spent pursuing additional education for your field of work. Lenders typically seek at least a 2-year work history [including education], but there may be exceptions to that as well. Additionally, there are variances in the guidelines as to how they apply to your situation, so it’s important to talk to your lender first!
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When buying a home, will time spent in college or trade school be considered part of my work history? Yes, most programs available to finance your new home consider the time spent pursuing additional education for your field of work. Lenders typically seek at least a 2-year work history [including education], but there may be exceptions to that as well. Additionally, there are variances in the guidelines as to how they apply to your situation, so it’s important to talk to your lender first!

ByBrandon Butler

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Can you buy a home if you have a gap in your employment history?  Most home loan programs require at least a two-year work history, with some exceptions for those with only one year.  However, if you have a gap of more than 30 days or multiple gaps in income during the last two years, a lender may question that.  The reason is that the lender is looking for consistent income, which is reasonable to assume will continue to make the home loan payment.  If the income or your employment history is not consistent, it does not mean you cannot get a loan.  We will need to document the reasons, and the lender will need to decide if gaps in employment were temporary or a consistent part of your employment history.  If you have had gaps in your job, I’m here to help, so let’s talk!
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Can you buy a home if you have a gap in your employment history?  Most home loan programs require at least a two-year work history, with some exceptions for those with only one year.  However, if you have a gap of more than 30 days or multiple gaps in income during the last two years, a lender may question that.  The reason is that the lender is looking for consistent income, which is reasonable to assume will continue to make the home loan payment.  If the income or your employment history is not consistent, it does not mean you cannot get a loan.  We will need to document the reasons, and the lender will need to decide if gaps in employment were temporary or a consistent part of your employment history.  If you have had gaps in your job, I’m here to help, so let’s talk!

ByBrandon Butler

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FHA does not require you to play favorites with your children! Did you know that FHA will allow parents to help their adult children purchase a home by acting as a Non-Occupying Co-Borrower? They will also allow you to do this for more than one child, provided the house will be their principal residence. If you are searching for ways to help your children buy a home, let’s discuss the options!
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FHA does not require you to play favorites with your children! Did you know that FHA will allow parents to help their adult children purchase a home by acting as a Non-Occupying Co-Borrower? They will also allow you to do this for more than one child, provided the house will be their principal residence. If you are searching for ways to help your children buy a home, let’s discuss the options!

ByBrandon Butler

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Can you buy a home while on Temporary Leave? If you are still employed and on temporary leave, chances are good you can buy a home. The lender will document that you are still employed, that you intend to return to work, and will document any assets you have available after your down payment and closing costs. Depending on the date you return to work, the lender may consider your regular employment income or your temporary leave income, along with the assets available to “tide you over” until you return to work. Let’s talk if you are on temporary leave and want to buy now!
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Can you buy a home while on Temporary Leave? If you are still employed and on temporary leave, chances are good you can buy a home. The lender will document that you are still employed, that you intend to return to work, and will document any assets you have available after your down payment and closing costs. Depending on the date you return to work, the lender may consider your regular employment income or your temporary leave income, along with the assets available to “tide you over” until you return to work. Let’s talk if you are on temporary leave and want to buy now!

ByBrandon Butler

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If you work for a business owned by a family member, home finance lenders may require more information from you to prove that you do not have ownership of the business. Additionally, they may require a longer history of employment to demonstrate that you are receiving income consistently from the business. If you work for a family member, let’s talk, and I will answer any questions you have about buying a home.
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If you work for a business owned by a family member, home finance lenders may require more information from you to prove that you do not have ownership of the business. Additionally, they may require a longer history of employment to demonstrate that you are receiving income consistently from the business. If you work for a family member, let’s talk, and I will answer any questions you have about buying a home.

ByBrandon Butler

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