Barclay Butler Financial Inc.

March 14, 2023

Buy a Home Just 2 Years After Chapter 7 Bankruptcy

A Chapter 7 bankruptcy doesn’t mean homeownership is out of reach. In fact, you can qualify for a mortgage just 2 years after your bankruptcy discharge. 🔧 Rebuild Your Credit the Right Way Right after filing, it’s crucial to start rebuilding your credit. Opening three secured credit cards and managing them responsibly can help you restore strong credit by the […]

203- K mortgage 0 50 sec read

March 14, 2023

How long after starting a new job can I get a home loan?

It depends on if you had a job gap (time off between jobs) and how long the job gap was. You could have a job gap for many reasons, laid off, fired, maternity or left for a new job. If your job gap was over 6 months than you will have to wait until you have 6 months on your […]

203- K mortgage 0 50 sec read

March 14, 2023

Thinking About Credit Repair Before Getting a Mortgage? Read This First.

Credit repair can be helpful—but only when there’s truly incorrect information on your credit report. If you hire a credit repair company to dispute all of your negative items, you may actually delay or completely prevent your ability to get a mortgage. ⚠️ How Credit Repair Companies Hurt Your Mortgage Approval Most credit repair companies dispute every derogatory tradeline, whether […]

203- K mortgage 0 1 min read

March 14, 2023

1 day out of a foreclosure and you could buy a home!

Yes it is true you can buy a home 1 day after your foreclosure. Your home has to have been already foreclosed, it cannot be in the process of being foreclosed. If you have a 550 credit score and 40% down you can buy a new home. You can get either a Fixed Rate or ARM and or Interest Only. […]

All states 0 30 sec read

March 14, 2023

Fastest Ways to Rebuild or Increase Your Credit Score

Start with a Secured Credit Card A secured credit card requires a cash deposit (often $200–$500) that becomes your credit limit. Because it’s considered revolving credit (unlike loans, which are installment credit), it has a much stronger positive impact on your credit score. Why Revolving Credit Matters More Than Installment Loans Installment loans (car loans, personal loans, mortgages) add some […]

Bad Credit 0 1 min read

March 14, 2023

How do collections and charge-offs affect you getting approved for a FHA mortgage.

It used to be that collections and charge-offs did not affect you getting an FHA mortgage, but with the new regulations, they can stop your approval in its tracks. Medical collections & charge-offs are still exempt to the new rules, they will not affect you except for your credit score going down. Now with the new rules any customer who […]

Bad Credit 0 1 min read

March 14, 2023

Conventional loan or FHA loan which is better for me?

A lot of people ask me which loan should I get. My answer is it depends on your situation. Both FHA & conventional loans are good loans. Here are the main reasons to use either Conv. or FHA loan. FHA- If you have lower income and want to put down only 3.5%. If your credit score is below 660. […]

203- K mortgage 0 1 min read

March 14, 2023

VA Home Loans Available with Credit Scores as Low as 500 and Debt-to-Income Ratios up to 65%

If you’re a veteran, active-duty service member, or the spouse of a deceased veteran, you may qualify for a VA home loan—even if other lenders have told you no. Here’s why VA loans are such a powerful benefit:✅ No down payment required✅ No monthly mortgage insurance✅ Flexible approval – credit scores starting at 500 may qualify✅ Higher debt-to-income ratios allowed […]

All states 0 39 sec read

March 14, 2023

Mortgage company overlays helping or hurting home sales.

Most mortgage companies have overlays on their products. An overlay is an additional requirement added on top of a FHA, VA, USDA or conventional mortgage guidelines. One example is FHA allows down to a 580 credit score if you want to put down 3.5% down payment. 95% of the lenders state you must have a 640 credit score and about […]

2-4 unit building 0 1 min read

March 14, 2023

Sub Prime mortgages are making a comeback in Florida.

Subprime mortgages are for people who cannot get an FHA, VA, or Conventional mortgage.Usually their credit scores are less than 550, or they recently had a foreclosure, short sale, deed in lieu of or a bankruptcy. Subprime mortgages do not care what your credit score is. Now a person can get a sub prime mortgage with as little as 10% […]

Bad Credit 0 42 sec read

Buy a Home Just 2 Years After Chapter 7 Bankruptcy

How long after starting a new job can I get a home loan?

Thinking About Credit Repair Before Getting a Mortgage? Read This First.

1 day out of a foreclosure and you could buy a home!

Fastest Ways to Rebuild or Increase Your Credit Score

How do collections and charge-offs affect you getting approved for a FHA mortgage.

Conventional loan or FHA loan which is better for me?

VA Home Loans Available with Credit Scores as Low as 500 and Debt-to-Income Ratios up to 65%

Mortgage company overlays helping or hurting home sales.

Sub Prime mortgages are making a comeback in Florida.

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