Brandon Butler

Do All Borrowers Need a Credit Score to Buy a Home? The answer is “No”!  There are many ways to demonstrate your credit payment history.  For instance, your utility bills, rent, cell phone bill and even streaming services can be used to demonstrate credit history.  Bottom line – Don’t let the lack of a credit score stop you from buying your dream home.  Let’s talk and plan your road to homeownership!

Do All Borrowers Need a Credit Score to Buy a Home? The answer is “No”!  There are many ways to demonstrate your credit payment history.  For instance, your utility bills, rent, cell phone bill and even streaming services can be used to demonstrate credit history.  Bottom line – Don’t let the lack of a credit score stop you from buying your dream home.  Let’s talk and plan your road to homeownership!

Related Article Title: One Borrower with No Credit Score Question: One of my borrowers does not have a credit score, yet we are receiving an approve eligible in DU. Are we able to have a borrower with no score? MC Chart – Non-Traditional Credit Guidelines – All Agency Comparison Answer: Fannie and Freddie do not […]

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Self Employed? A common question I receive is how many years of tax returns do I need to provide when applying for a home loan? When you are getting a conventional loan, the automated underwriting systems that we use will assess your risk and then request the number of years of tax returns we need to ask you for.  For some this is one year and for others two years depending on how long you have owned your company and other details of your financial history.  If you are self-employed, let’s talk before you start looking for a home!

Self Employed? A common question I receive is how many years of tax returns do I need to provide when applying for a home loan? When you are getting a conventional loan, the automated underwriting systems that we use will assess your risk and then request the number of years of tax returns we need to ask you for.  For some this is one year and for others two years depending on how long you have owned your company and other details of your financial history.  If you are self-employed, let’s talk before you start looking for a home!

Related Article Title: Number of Years of Tax Returns for Self-Employed Borrowers Question: My client has been self-employed for more than five years, and his corporation was opened over three years ago. Can we use just a one-year tax return? Answer: That is not a decision made by an individual, rather the number of years […]

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Attention Veterans!  VA home financing is incredibly unique in how they will allow Seller Concessions and Seller credits to be used to help you buy a home.  You may be surprised by how these credits can be used so let’s talk before you look for a home.

Attention Veterans!  VA home financing is incredibly unique in how they will allow Seller Concessions and Seller credits to be used to help you buy a home.  You may be surprised by how these credits can be used so let’s talk before you look for a home.

Related Article Title: Using VA Sales Concessions & Seller Contributions Question: I noticed on your Maximum Seller Contributions charts you have plus, up to 4% of sales concessions. Can you explain what falls under the sales concession category? MC VA Sales Concession Training Class Answer: Mortgage Currentcy offers a Fantastic Class on this subject, and […]

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One Borrower with No Credit Score

Question: One of my borrowers does not have a credit score, yet we are receiving an approve eligible in DU. Are we able to have a borrower with no score? MC Chart – Non-Traditional Credit Guidelines – All Agency Comparison Answer: Fannie and Freddie do not have a minimum number of tradelines / credit depth […]

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Adding a Co-Borrower After the Initial CD

Question: Is there any issue with adding a co-borrower to a mortgage loan after the initial CD is issued? I don’t believe there are but cannot find anything definitive. I would have our team send a copy of the CD to the new borrower but I’m not even sure that is needed (purchase transaction) Answer: […]

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