Anyone gearing up for a mortgage application is going to take some time to prepare their information, gather necessary documents, and comb through their credit reports. However, for those who write their own paychecks, the process can be a little trickier. With a few more hoops to jump through regarding income, credit, and borrowing in … Continue reading How to Qualify for a Mortgage When You’re Self-Employed
If you apply for a mortgage here at Butler Mortgage (or any other lender in the U.S.), we will likely request your tax returns before offering any financial assistance. While you would think that normal financial documents cover everything needed to get a mortgage, the last two years of your tax returns are required for … Continue reading Do My Tax Returns Affect My Mortgage?
Buying a house for the first time can be a daunting task. The initial down payment, closing costs, and mortgage rates all have large price tags attached and are full of minute details that can be missed by the average customer. The last thing you want is for your first home to put you into … Continue reading 3 Big Tips for First Time Home Buyers
Getting a first mortgage can be a difficult task. Raising the necessary funds to make the first down payment can be stressful for some people, and if you do not have a great credit score or are relatively unestablished, this can become an even more frustrating process. However, there are ways to finance a home … Continue reading What Is a Freddie Mac Home Possible Mortgage?
When buying a home, many people worry about being able to pay the initial out-of-pocket costs. With the burden of having a large down payment, the extra closing costs can cause people to have to wait on buying their home. However, it can work out in the best interests of both the buyer and seller … Continue reading How to Get a Home Seller to Pay Closing Costs
Finding your dream home can be tough, but acquiring a practical mortgage loan can seem even more difficult. If you are new to the home buying market, it is important to understand the different types loans available to you so that you can make the best decision. In particular, you need to know more about … Continue reading Understanding Fannie Mae HomeReady Mortgage Loans
Everyone knows that having good credit is important for securing a home loan. But not everyone has a sparkling borrowing history. Does this mean you can’t qualify for a home loan with bad credit? Not necessarily. There are many different options available to you. A seasoned mortgage professional will be able to help you identify … Continue reading Qualifying for a Home Loan with Bad Credit
Receiving gift funds for a down payment on a home can make owning a home turn from a dream into reality. But did you know there is a proper way to receive home down payment gifts? Before simply depositing the sum, read on to learn the right way to handle your gift. Down Payment Gift … Continue reading How to Receive Home Down Payment Gifts
PMI, or Private Mortgage Insurance, allows buyers to put down less than 20% for a down payment. However, if home buyers do take advantage of this they’re required to pay monthly for PMI. As a result, many home buyers aim to avoid paying PMI altogether. There are a few different ways home buyers and owners … Continue reading How to Avoid Paying PMI
Buying a house outright (for cash) is a considerable expense that many Americans don’t have the good fortune to afford. While taking out a mortgage doesn’t require as much of an upfront investment, it is a large commitment that requires serious thought. To make sure you’re ready for homeownership, here are some things you can … Continue reading Things You Should Do Before Applying for a Mortgage