This blog will cover and discuss getting mortgage approval with late payments in the past 12 months. Getting A Mortgage Approval With Late Payments in the past 12 months is possible as long as the borrower can get approve/eligible per an automated underwriting system (AUS). You can have prior bad credit, unpaid collections and charge-off…
This blog will cover and discuss non-doc home loans on primary residential homes. No-Doc Home Loans was the most popular loan program before the 2008 financial crisis. Self-employed borrowers who do not meet the qualified income guidelines on traditional mortgage loan programs can now qualify for non-doc home loans at Gustan Cho Associates. No-doc home…
Apply Now This article will cover mortgage overlays on FHA, VA, and conventional loans. The two most common home mortgage programs are government and conventional loans. Lenders must ensure borrowers meet the minimum agency mortgage guidelines of FHA, VA, USDA, Fannie Mae, and Freddie Mac. Borrowers should understand the mortgage overlays on FHA, VA, and…
Apply Now This article will cover how to get a mortgage when relocating with a new career. I will discuss moving from New York to Nevada and starting a new job in a different industry. Do you have what it takes to make the decision that changes your life? Nobody truly knows until it is…
Get a Fast Quote: Click Here Buying your first home in Nebraska with bad credit. Many of us may consider success in life in various ways. For some, it is about making it in your career, while for others, it’s about having a great family full of love. But we can all agree that if…
Apply Now In this article, we will be covering qualifying for a mortgage with high debt-to-income ratio. Debt-to-income ratios is probably the most important factor when it comes to qualifying for a mortgage loan. Qualifying for mortgage with high debt-to-income ratio can become an issue no matter which mortgage loan program borrowers choose. The debt-to-income…
This mortgage guide on Fannie Mae guidelines on conventional loans will cover the latest updates on Fannie Mae and Freddie Mac guidelines on changes in conforming loans. It will include loan limit increases in both standard median-priced areas and high-cost counties. Conventional loans are the mortgage loan of choice because borrowers are not stuck with…
In this article, we will cover the difference between Conventional versus FHA loan guidelines. We will discuss the differences between Conventional versus FHA loan for borrowers. Borrowers may benefit from one loan program over the other. Each case will need to be evaluated on an individual case-by-case basis. There have been changes with Conventional versus…
Get a Fast Quote: Click Here In this blog, we will cover the mortgage loan options for home buyers bad credit. Many First Time Home Buyers do not realize the simplicity of qualifying for a mortgage and becoming homeowners. Many first time home buyers are under the impression that they need 20% down payment on…
Apply Now This Article Is About Conventional Home Loan With Bad Credit Mortgage Guidelines Conventional Loans have much tougher credit requirements than FHA Loans. Conventional Loans are not government loans. Conventional Loans are often called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Guidelines. The Federal Housing Finance Agency regulates…
Apply Now This Article Is About Freddie Mac HomeOne Mortgage Guidelines With Low Down Payment Freddie Mac HomeOne Mortgage Guidelines allow home buyers to qualify for conventional loans. Freddie Mac HomeOne Mortgage Guidelines allows first time home buyers to qualify for home purchase with a 3% down payment Freddie Mac created Freddie Mac HomeOne Mortgage Guidelines…
Ten major factors affect the mortgage rate a lender quotes you. They fall into two categories – factors you can control and others that are outside your control. Factors you control: What raises your mortgage rate – Anything that adds risk to the lender like a small down payment, low credit score, or a longer…
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