Chapter 13 Mortgage Guidelines
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Chapter 13 Mortgage Guidelines For FHA and VA Loans

ByGustan Cho
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Apply Now In this article, we will cover Chapter 13 Mortgage Guidelines for FHA and VA loans. Both FHA and VA loans Chapter 13 Mortgage Guidelines are exactly the same. The only two traditional mortgage loan program that allow for manual underwriting are FHA and VA loans. The manual underwriting guidelines for FHA and VA…

Choosing The Right Mortgage Lender
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Choosing The Right Mortgage Lender With No Overlays

ByGustan Cho
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Apply Now In this blog, we will cover choosing the right mortgage lender with no overlays on home loans with many mortgage loan options. Choosing the right mortgage lender is extremely important. There are thousands of mortgage lenders and which lender do you choose?  Getting a referral from a close trusted friend can be on…

Conventional Loans With Collection Accounts

Conventional Loans With Collection Accounts Mortgage Guidelines

ByGustan Cho
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Apply Now This Article Is About Mortgage Guidelines On Conventional Loans With Collection Accounts Conventional Loans With Collection Accounts Guidelines are implemented and set by Fannie Mae and Freddie Mac. FHA is the most popular loan program in the United States. Most buyers of homes think that just because they have outstanding collections and charged-off accounts…

Fannie Mae Bankruptcy And Foreclosure Guidelines
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Fannie Mae Bankruptcy and Foreclosure Guidelines

ByGustan Cho
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This guide will cover Fannie Mae bankruptcy and foreclosure guidelines The Fannie Mae bankruptcy and foreclosure guidelines require a mandatory waiting period for homebuyers seeking a conventional loan. There are two different waiting period requirements depending on the type of Bankruptcy. Dale Elenteny of Gustan Cho Associates explains the role of Fannie Mae and Freddie…

Credit Disputes During The Mortgage Process
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Credit Disputes During The Mortgage Loan Process

ByGustan Cho
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Apply Now This article will cover the mortgage guidelines for credit disputes during the mortgage loan process. Credit disputes during the mortgage process are not allowed on non-medical collections and derogatory credit tradelines. The reason for credit disputes from consumers is to dispute derogatory credit tradelines in the hopes of getting them removed by the…

FHA Guidelines on Income and Employment Gaps
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FHA Guidelines on Income and Employment Gaps

ByGustan Cho
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Get a Fast Quote: Click Here This blog will discuss and cover FHA guidelines on income and employment gaps. We will detail the FHA guidelines on income and employment gaps for homebuyers. Homebuyers do not need to be employed in the same job for the past two years to qualify for FHA loans. FHA guidelines…

FHA Guidelines Versus Lender Overlays
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FHA Guidelines Versus Lender Overlays on FHA Loans

ByGustan Cho
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Apply Now In this blog, we will cover the difference between FHA guidelines versus lender overlays on FHA loans. All mortgage lenders need to follow HUD guidelines if they want the loans they originate and fund insured by the Federal Housing Administration. HUD, the parent of FHA, insures lenders against the borrower defaulting on their…

FHA Manual Underwriting DTI Guidelines
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FHA Manual Underwriting DTI Guidelines on FHA Loans

ByGustan Cho
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Apply Now In this article, we will cover FHA manual underwriting DTI guidelines on FHA loans. FHA and VA loans are the only two mortgage loan programs that allow manual underwriting on home mortgages. Manual Underwriting is when a human mortgage underwriter will underwrite a file if the file renders a refer/eligible per automated underwriting…

FHA Credit Requirements
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FHA Credit Requirements Per HUD Guidelines For AUS Approval

ByGustan Cho
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  In this blog, we will discuss and cover the minimum FHA credit requirements per HUD guidelines to get approve/eligible per the automated underwriting system (AUS). FHA loans are the most popular mortgage loan option for first-time homebuyers with little to no credit tradelines, borrowers with low credit scores, high debt-to-income ratios, and borrowers with…

Denied For Mortgage After Conditional Approval
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Getting Denied For a Mortgage After Conditional Approval

ByGustan Cho
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In this blog, we will discuss getting denied for a mortgage after conditional approval. Can borrowers get denied for a mortgage after conditional approval? There is no guarantee in the mortgage world that a deal will close until it has been closed and funded. There is no reason why borrowers cannot close on their pre-approvals….

Getting a Mortgage After Bankruptcy and Foreclosure
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Can I Get a Mortgage After Bankruptcy and Foreclosure

ByGustan Cho
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This article covers buying a house and qualifying for a mortgage after bankruptcy and foreclosure. The mortgage industry underwent a major overhaul after the 2008 real estate and mortgage meltdown. The NMLS was created after implementing the SAFE Act and the New Banking Regulations. The Dodd-Frank Act was passed, and the mortgage industry would never…

Buying Down Interest Rates With Discount Points On Mortgage

Buying Down Interest Rates With Discount Points On Mortgage

ByGustan Cho
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In this blog, we will cover and discuss buying down interest rates with discount points on mortgage loans. Lenders will charge higher mortgage rates to those seeking a home loan with bad credit, especially for conventional mortgage programs. Conventional mortgage programs are extremely credit-sensitive. Credit Scores Versus Pricing on Mortgage Rates The minimum credit score…