Apply Now This Article Is About Manual Underwriting Guidelines With Late Payments: FHA and VA loans are the only two mortgage loan programs that allow for manual underwriting. Manual underwriting is when a borrower cannot get an approve/eligible per automated underwriting system. The file needs to be manually underwritten to a human underwriter. The borrower’s…
This article will discuss the steps of getting approved for a home loan with late payments after bankruptcy. Qualifying for a Home Loan With Late Payments After Bankruptcy will be difficult for many lenders. Gustan Cho Associates has helped countless folks with late payments after bankruptcy qualify for mortgage loans. The impact of the 2008…
In this article, we will cover and discuss qualifying for home loan with tax lien and judgments. Qualifying for home loan with tax lien is possible but the tax lien issue needs to be resolved. If you owe the Internal Revenue Service money, it is highly recommended that you contact them and arrange a written…
Gustan Cho Associates offers TBD mortgage underwriting pre-approvals for homebuyers with less-than-perfect credit. TBD stands for To Be Determined. A TBD Underwriting is when a mortgage loan application is processed and submitted to underwriting without a subject property. “To-Be-Determined” (TBD) underwriting or what Gustan Cho Associates calls Fast-Track Pre-Approval Loan Commitment Mortgage Process, is…
In this article, we will cover qualifying for non-QM loans one day out of foreclosure and bankruptcy. We will discuss how you can now qualify for a home mortgage after a foreclosure, deed in lieu of foreclosure, and short sale with no waiting period requirements. However, the down payment requirements is higher than the traditional…
In this blog, we will cover and discuss the FHA student loan guidelines to qualify for FHA loans. Per FHA Student Loan Guidelines for FHA loans. Deferred student loans that have been deferred for 12 or more months are no longer exempt from debt-to-income calculations on FHA loans. FHA Student Loan Guidelines under HUD 4000.1…
In this article, we will cover and discuss the types of home ownership to hold title to real estate. We will cover the most common types of home ownership homebuyers should hold the title to their home purchase. There are several different types of home ownership and how to hold the title to a home….
In this blog, we will cover qualifying for non-QM jumbo mortgages for non-prime borrowers, self-employed borrowers, and homebuyers with low credit scores. Government and conventional loans have a maximum loan limit. The maximum loan limit depends on the individual loan program. Gustan Cho Associates now offers Non-QM jumbo mortgages for non-prime and self-employed borrowers with…
This blog will cover the waiting period after bankruptcy and foreclosure mortgage guidelines on government and conventional loans. There is a mandatory waiting period after bankruptcy and foreclosure to qualify for a residential mortgage loan. If you had a prior bankruptcy, there is a mandatory two-year waiting period after the discharge date of your…
This guide will cover using hard money loans for bad credit borrowers to purchase real estate properties. Many folks have heard of hard money loans for bad credit. Hard money loans for bad credit are loans made by hard money lenders who are private investors. One frequently asked question at Gustan Cho Associates is how…
Get a Fast Quote: Click Here This article will cover understanding credit when shopping for a mortgage. Credit and Income are the two most important factors lenders will thoroughly analyze prior to granting credit to borrowers. Most borrowers believe that as long as they meet the minimum credit score requirements to qualify for a home…
Get a Fast Quote: Click Here This article will cover frequently asked questions about first-time homebuyers FAQs with low credit scores. We will discuss common FAQs from first-time home buyers with low credit scores on home purchases. Dino Hasapis is one of the top real estate agents in the state of Illinois. Dino is one…
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