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. […]
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 […]
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 […]
Do you own or want to own an investment property but, you keep getting turned down because your income is not sufficient or you own too many investment properties. These new loans do not verify your income. As long as you can put down 15% or you have 25% equity in your property you can get one of these loans. […]
⭐ Flexible Credit Requirements• Minimum credit score: 500• Designed for borrowers who need real solutions, not perfect credit 💳 Debts You Can Pay OffThis mortgage lets you roll in:• Your current mortgage (if you have one)• Auto, motorcycle, boat, and RV loans• Student loans• Personal loans• All credit cards 🏠 Eligible Property Types• Owner‑occupied homes• Second homes• Investment properties […]
Whether you are buying a home to live in, or rent out we have loans that will allow you to buy the home and rehab the home at the same time with no more money down. If you are buying a home to live in we offer rehab loans with as little as 3% down payment. This will allow you […]
Most lenders require a 620 credit score for FHA financing because they rely only on automated approval systems such as DU (Desktop Underwriter) or LP (Loan Prospector). At Barclay Butler Financial Inc., we can help borrowers with lower credit scores: 500–579 credit score → Eligible with 10% down 580+ credit score → Eligible with 3.5% down ✅ We offer Automated […]
If you are an investor you know the challenges of showing income on your tax return when you own investment properties. With this new product the underwriter will only look at the income the property is producing for rent. This program can be used for purchases and refinances. This product can be used for a single rental property or 100’s […]
FHA has completely re written their new handbook called the 4000.1. The new FHA guidelines will affect everyone, which will make it harder to get an FHA loan in most situations. Here are some of the more important changes: Student Loans. Old Rule- FHA would allow the student loan payment to be excluded if the loan payments were deferred for […]
You could save hundreds of dollars by refinancing without lowering your current rate. How can this be? FHA just lowered the monthly mortgage insurance premium from .85% to .55% per year if you are over 95% LTV. This is almost 1/2 of what it used to be. Example: if you have an FHA mortgage with .85% premium and you mortgage […]
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