Barclay Butler Financial Inc.

March 6, 2024

Did you know you can buy a home while you are in a Chapter 13 bankruptcy.

If you declared chapter 13 bankruptcy you only need to wait 1 year from the date of filing to buy a home. You need to have made 12 payments to the trustee. It is very important to rebuild your credit with 3 secured credit cards right after your bankruptcy has been filed. You will need 3 tradelines of credit to […]

203- K mortgage 0 49 sec read

March 14, 2023

3% down conventional mortgage, min. credit score 620.

You can now put down 3% when buying a home if you have at least a 620 credit score. If you are buying a home the 3% down payment can be all given to you as a gift from a family member, and if you have the seller pay your closing costs you can now buy a home with a […]

3 percent down payment 0 1 min read

March 14, 2023

You can buy a home 2 yrs. after your Ch. 7 bankruptcy is discharged.

If you declared chapter 7 bankruptcy you only need to wait 2 years from the date of discharge to buy a home. It is very important to rebuild your credit with 3 secured credit cards right after your bankruptcy has been filed. When your 2 years seasoning on the bankruptcy is up you will have great credit again. Then you […]

203- K mortgage 0 37 sec read

March 14, 2023

Why using a credit repair company before getting a mortgage is a bad idea.

Credit repair is helpful if there is a lot of incorrect information on your credit report. If you have hired a company to dispute all of your bad credit, it most likely will delay or stop you from getting a mortgage. Most credit repair companies will dispute everything on your credit report that is derogatory. When a trade line on […]

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

What is the fastest way to rebuild your credit or increase your credit score.

The fastest way to rebuild your credit score or increase it after a BK, foreclosure, deed in lieu of or a short sale is to get a credit card most likely it will have to be a secured credit card.If you happen to be a person without any credit this will work also. A credit card is considered revolving debt […]

Bad Credit 0 54 sec read

March 14, 2023

Alternative Income mortgages are BACK.

It has been many years but alternative income loans are BACK. This loan is for a self-employed person who does not show all of their income on a tax return. If you are buying or refinancing a home and you are self employed this is the perfect mortgage for you. You can get this loan on your primary, second home […]

Bad Credit 0 45 sec 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 down to a 500 credit score and up to 65% debt to income ratios.

A VA home loan is either for a veteran, a soldier currently enlisted or a spouse of a deceased veteran. These loans allow for no down payment & no monthly mortgage insurance. These are fantastic loans if you are a veteran. A lot of veterans qualify for a VA loan and do not realize it. Most mortgage companies state you […]

All states 0 52 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

Did you know you can buy a home while you are in a Chapter 13 bankruptcy.

3% down conventional mortgage, min. credit score 620.

You can buy a home 2 yrs. after your Ch. 7 bankruptcy is discharged.

Why using a credit repair company before getting a mortgage is a bad idea.

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

What is the fastest way to rebuild your credit or increase your credit score.

Alternative Income mortgages are BACK.

Conventional loan or FHA loan which is better for me?

VA home loans down to a 500 credit score and up to 65% debt to income ratios.

Mortgage company overlays helping or hurting home sales.

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