Do you own investment properties and you cannot get cash out of them because their values are too low? Do you want to put all of your investment properties under one loan at a low interest rate? Do not show enough income on your taxes. This loan product will help you with those problems. You…
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About: Barclay Butler
Recent Posts by Barclay Butler
No Doc / No Ratio Investment Property loan are back.
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 20% or you have 25% equity in your property you can…
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Consolidate your bills with a 95% LTV Bill consolidation loan. Only need 5% equity in your home.
This new program allows you to consolidate your bills up to 95% LTV. Only need 5% equity in your house. FHA mortgages allow up to 85% LTV or 15% equity needed in your home. Conventional (Fannie Mae & Freddie Mac) mortgages allow up to 80% LTV or 20% equity needed in your home. This mortgage…
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Rehab loans for Owner Occupied, Second Homes or 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…
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FHA Loans down to a 500 credit score with 10% down.
Almost all lenders require a 620 credit score to get an FHA mortgage. Most lenders use an automated system to get the customers loan approval (Total Score Card) which runs through DU (Desktop Underwriter) or LP (Loan Prospector). We can get you a mortgage with a 500 credit score if you have 10% to put…
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No income verification loans are back for investors.
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…
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New FHA changes, could affect you.
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…
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FHA has lowered the monthly mortgage ins. premiums, time to refinance or purchase.
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 1.35% to .85% 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…
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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. Before the housing collapse we were allowed to put down nothing, now we are back to putting down only 3%. If you are buying a home the 3% down payment can be all given to you…
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Can you get a home loan after you did a loan modification or mortgage modification.
You can get a mortgage after you have done a loan modification. Loan modifications were quite popular starting in 2009 through 2013. You are not seeing nearly as many since the beginning of 2014. Depending on what you did to your loan when you modified it depends on how long you have to wait if…
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