Apply Now This blog will cover qualifying for a home loan after loan modification mortgage guidelines. A loan modification is when the current lender restructures the homeowner’s current mortgage loan to make it affordable for homeowners and avoid foreclosure. There are various ways of modifying a mortgage. The delinquent payments of the mortgage payments…
This article will cover qualifying for a home loan with overtime income and other income. Homebuyers can qualify for a home loan with overtime income and other non-traditional income if certain conditions are met. Borrowers can qualify for a mortgage with overtime income and other income. However, lenders want a two-year history of borrowers making…
This guide covers HUD credit score guidelines on FHA loans. HUD, the parent of FHA, is the government agency that sets the minimum HUD credit score guidelines for FHA loans and other updated HUD guidelines. Many of our viewers today are reading this blog because they are getting conflicting reports on the HUD credit score…
This guide covers derogatory credit mortgage guidelines on home loans. Over the years we have received thousands of phone calls, emails, and text messages about derogatory credit. The team at Gustan Cho Associates are experts in helping people qualify for a mortgage with credit scores down to 500 FICO. In this blog, we will detail…
In this guide, we will cover getting a mortgage in the Virgin Islands for a home purchase with a U.S.-based mortgage lender. In recent years, the Virgin Islands have seen an unprecedented boom in tourism. The growth of new people and businesses moving to the Virgin Islands has been explosive. More and more real…
Many new high debt-to-income ratio mortgage loans have been recently launched and introduced to the market. No-doc loans, DSCR mortgages, profit and loss statement-only mortgage loans, bank statement mortgages, and asset-depletion loans are some non-QM loan programs that do not require income docs and are based on other income/asset factors. Many borrowers think they will…
Apply Now In this guide on HUD 4000.1 FHA Handbook Guidelines on FHA loans, we will cover the main bullet points on HUD agency mortgage guidelines and whether or not you meet the minimum guidelines from HUD to qualify for an FHA loan. We will discuss what you need to know about HUD 4000.1 FHA…
This guide will cover getting approved for a VA loan with recent late payments. The Veterans Administration has helped thousands of veterans and service members buy or refinance homes with VA loans. VA loan is a mortgage program that benefits eligible borrowers greatly, such as no down payment required on a home purchase. Ronda Butts,…
Apply Now In this blog, we will cover using hard money loans to buy investment properties. Hard money loans are only for non-owner-occupant primary properties. Residential mortgage rules and regulations prohibit hard money loans on residential mortgage lending due to the SAFE Act of 2008 and predatory lending laws. In general, depending on the individual…
In this article, we will discuss and cover self-employed no tax return mortgage loans. Self-employed no tax return mortgage loans have been non-existent between the 2008 Great Recession and early 2017. However, Self-Employed No Tax Return Mortgage Loans made a comeback in the spring of 2017. GCA Mortgage Group now offers bank statement loans for…
Apply Now In this blog, we will be covering mortgage guidelines on government and conventional loans. Mortgage guidelines on the individual mortgage loan program are set by the FHA, VA, USDA, Fannie Mae, or Freddie Mac. Every agency has its own set of mortgage guidelines. Mortgage Guidelines on Government-Backed Mortgage Loans All lenders need to…
In this article, we will cover getting a mortgage after a divorce. Divorces can become not just stressful but extremely ugly, bitter, and sometimes vengeful. In very few cases will divorces be consensual and peaceful. There are countless reasons for divorce. One of the issues most couples separating run into is the separation of assets…
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