Remember To Do This On A Lease With Option

Berkshire Lending

When you give someone option money at the onset of a lease option agreement – you are going to have to prove you gave that money when you get a loan to buy that house.

How do you prove it?

If it’s certified funds you need to keep a copy of the certified check.

If it was a personal check – you need to keep a copy of the cancelled check (front and back).

Don’t give cash!

Anything less than this – the underwriter will not give you credit for giving that money.

That’s it for today!

I hope you have a great day! Thanks for reading!

Get Pre Approved For A Loan Here

My Previous Blog

Reverse Mortgage Texas

What is a Reverse Mortgage?

Reverse Mortgages allow a homeowner to convert a portion of the value in their home into cash.  No repayment is required until the borrower(s) no longer use home as their principal residence.

Who Can Qualify for a Reverse Mortgage?

• All Borrowers MUST BE 62 years of age, or older.
• Must occupy the home as your principal residence.
• No credit, income or health requirements to qualify.
• Social Security & Medicare benefits are not affected.
• No Taxes are paid on Cash from Reverse Mortgages.
• Cash may be used for any purpose, no restrictions.
• You keep the title and may sell your home at any time.
• No repayment for as long as you occupy your home.
• Find out how much loan you qualify for.  Click the link below

Home Renovation Loans

Home Renovation Loans

We do Renovation Loans!

• Can be part of a purchase loan or refinance loan.
• Minimum Credit Score is 620.
• Up to 97% loan to value ratio based on after repaired value.
• Need to complete construction within 12 months of closing.

Generally, improvements should be permanently affixed to the real property (either dwelling or land), with the exception of certain appliances installed with kitchen and utility room remodels. You may use the Renovation loan to purchase appliances as part of an overall remodeling project that includes substantial changes or upgrades to the rooms in which the appliances are placed.

These loans are EASY!  If you are interested please complete the application link above.

For more Info Visit at:--> http://www.berkshirelending.com

How To Get Cash Out Of Your Texas Home

Here’s how to get cash out of your house in Texas

There are owner Occupied Cash Out Loans, and Non Owner Occupied Cash Out Loans.

…I’m going to tell you how each one works. …and, then how to get your loan started.

How to get an Owner Occupied Texas Cash Out Loan:

State of Texas Rule: You can only get cash out on your house up to 80% of the loan to value ratio. In other words mortgage companies can only lend up to 80% of the appraised value.

You can have a credit score all the way down to 620 and still get a conventional Texas Cash Out Loan. …30 year fixed, 20 year fixed, 15 year fixed, or an ARM.

In Texas the loan will fund three days after the loan closes. This is a mandatory 3 day wait. …then you can get your cash!

How to get a Non Owner Occupied (Investment property) cash out loan in Texas:

You don’t have to wait the 3 days for funding on this loan because it’s non owner.

Max loan to value ratio is 75% of appraised value. …and, we can lend on credit scores down to 620!

If you would like to be pre approved for a Cash Out Loan right now just click the apply link at the top menu.

Thanks!

http://www.berkshirelending.com