This guide covers FHA facts from fiction on FHA loans. Many homebuyers often get confused when shopping for a mortgage. What are the FHA facts versus BS? Sharp consumers normally shop with vendors before deciding which company to buy goods and services from. FHA loans are popular for homebuyers, especially those with lower credit scores…
This guide covers mortgage rates on FHA vs conventional loan rates. Mortgage rates on FHA vs conventional loans have been steady for the past year. Mortgage rates on FHA vs conventional loans have been historically low. This is due to HUD, the Federal Housing Administration (FHA) parent, guaranteeing FHA loans. In general, mortgage rates on…
This guide covers qualifying for FHA versus non-QM loans. In the following paragraphs, we will cover qualifying and getting approved for FHA versus NON-QM loans. The first batch of closings on FHA back-to-work extenuating circumstances loans was launched in the first week of December 2014. HUD’s FHA Back to Work extenuating circumstance due to an…
Apply Now This blog will fully explain how to qualify for a mortgage during Chapter 13 Bankruptcy. We will review a detailed list of qualifying for a mortgage during Chapter 13 Bankruptcy. After reading this guide a few times and watching a few videos, you will understand the basics of qualifying for a mortgage during …
This guide covers owner-occupant homes versus non-owner properties. Financing owner-occupied homes offers the best interest rate, the lowest down payment requirement, a higher debt-to-income ratio, and the best mortgage terms out of all mortgage loan programs. Mortgage lenders view owner-occupied home financing loans as less risky than second-home and investment home mortgages. The reason is…
This guide covers qualifying for a mortgage by buying your first home purchase. Buying your first home purchase can be exciting and stressful, especially if you are a first-time home buyer. Those buying your first home purchase should take their time and do the proper due diligence in choosing their new home. The most important…
In this blog, we will cover and discuss qualifying for jumbo loans with low credit scores. Jumbo loans are mortgage loans with higher than conforming loan limits. Gustan Cho Associates now offers jumbo loans with low credit scores. Jumbo loans with low credit scores are often referred to as non-QM jumbo mortgages. Jumbo loans in…
This guide covers qualifying for a mortgage after foreclosure for borrowers on title but not on note. Home buyers with a prior foreclosure who were on the title but not on note of a home currently being foreclosed on can qualify for a new mortgage loan. The waiting period requirement does not apply. Therefore, if…
This article covers everything you need to know about buying a fixer-upper home. Homebuyers can purchase owner-occupant primary fixer-upper renovation loans with FHA, VA, USDA, and conventional loans. Many homebuyers looking to buy, rehab, or renovate their homes may find the FHA 203(k) loans a great program. FHA 203k loans are for owner-occupant homes only….
This Article Is About How To Lower Property Taxes For Homeowners With High Taxes High property taxes are a major problem for homeowners on a fixed income. There are many mismanaged counties throughout the United States with incompetent politicians where they keep on increasing property taxes year after year. Property tax increases due to budget…
This guide covers what credit scores used by lenders to qualify for mortgage loans. Let’s take a mortgage case scenario on what credit scores used by lenders to qualify for mortgage. Say Mr. and Mrs. Jones are married, and they are first-time home buyers. They need to qualify for a mortgage loan. They both have…
This guide covers qualifying for W2-Income-Only Mortgages. Borrowers who are W-2 wage earners and mortgage underwriters will go off the most recent paycheck stubs reflected on the past 30 days and from the employer’s employment verification. Two years of W2s are required, but there is a lot of leniency with W-2 wage earners. The following…
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