Brandon Butler

Did you know that USDA will only allow a one-unit property and not a 2-4 unit property? However, FHA and conventional will allow multi-unit properties.  If you are interested in buying a multi-unit property where you live in one unit and rent out the rest, let’s talk!

Related Article Title: USDA and Multi-Unit Properties Question: Will USDA allow a Two-Unit property if the borrower lives in one of the units? Answer: Unfortunately, no. One-unit properties are all they will allow. [Article Published in Question & Answer Issue – June 25, 2020] Copyright © 2020 – Mortgage Currentcy – All Rights Reserved

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Attention Active Military! If you have plans to retire, you don’t have to wait until retirement to buy that dream home.  If we can verify your retirement income, we can use that to qualify you for your new home. Call me and we can discuss your options!

Related Article Title: Future Retirement Income from Active Duty Retirement Question: Will VA allow future retirement income when someone is retiring from active duty?  Their retirement is set for 10 months after the note date and he will work until that date.  MC – Expected Income Chart – All Agencies Answer: VA would allow the […]

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Federally backed student loans are in deferral until October. This does not mean that you cannot buy or refinance a home!  If this is your situation, don’t let this issue hold you back, let’s talk!

Related Article Title: Calculating the Student Loan Payment When Interest Rates Are Temporarily Reduced Question: My client’s student loan is deferred with a $0 payment.  I requested a letter from the student loan carrier regarding the amortized payment and it came back with 0% interest due because of the virus.  Will FHA accept that temporary […]

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If you have an FHA Mortgage, did you know that you may be able to refinance that loan without an appraisal, credit report, income or asset verification? It is a simple strategy many of my clients have used to lower their rate.  Sound interesting?  Let’s Talk!

Related Article Title: Documents Needed for an FHA Streamline Question: What are the income and asset document requirements for an FHA Streamline?  MC – FHA Streamline Worksheet Answer: If you are doing a non-credit qualifying streamline refinance, then income and asset documentation is not required. If you are doing a credit qualifying streamline refinance, then income […]

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If you were impacted by COVID-19 and needed to exercise a Forbearance on your present mortgage, you have a couple of options when it comes to buying or refinancing a home. Option One:  If you have a repayment plan and you made at least 3 timely payments, you can refinance or purchase a new home. Option Two:  If you repaid the outstanding payments from the forbearance, then there is no waiting period. I’m here to help guide you through your situation, so let’s talk!

Related Article Title: Purchasing or Refinancing with a Loan in Deferment Question: When can a client purchase or refinance if their loan is in forbearance? Answer: Following are the requirements for forbearance. There are two possibilities here : Under the agencies’ temporary eligibility guidelines, homeowners who missed payments and entered into a loss mitigation solution– […]

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