According to a recent Freddie Mac report, Orlando is the fifth most rent-burdened metro area in the United States. As cities throughout Central Florida share drastic rises in rent, tenants are questioning whether they should renew their leases or jump into homeownership. If you’re contemplating an upgrade from a lease to a home loan, … Continue reading Why Rising Rent Prices Means It Is Time to Buy
Taking a different route to the traditional payday isn’t easy, but it can be incredibly rewarding. If you’re ready to take on the role of landlord or want to start flipping the fixer-uppers in your city, here are the top things to consider when buying an investment property. Steady Income Investment property income isn’t the … Continue reading Things to Consider When Buying an Investment Property
FHA loans are one of the strongest financing options for first-time buyers, and condominiums are one of the most affordable and easily maintained property options—but FHA-backed condo loans have not always been an easily accessible mortgage solution. However, with new FHA updates from the Department of Housing and Urban Development (HUD), the condo approval process … Continue reading FHA Revises Condo Requirements
There are multiple benefits available for veterans securing a VA loan and recent updates make VA mortgage loans an even better choice for some. To better prepare veteran borrowers for their next big purchase, let’s take a look at what the 2020 VA loan limit changes mean for upcoming applicants. The 2020 VA Bill Earlier … Continue reading Understanding the Updated 2020 VA Loan Limits
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