In this mortgage guide, we will cover qualifying for a mortgage with amended income tax returns. There are instances where consumers may write more off on their income tax returns and regret it because they need to qualify for a mortgage after the fact. So what do you do to retract the mass unreimbursed business…
The mortgage lending landscape consists of various players, among which wholesale mortgage lenders play a critical role. Wholesale lenders offer various mortgage products through third-party mortgage brokers and financial institutions. This article explores what wholesale mortgage lenders do, the benefits they provide, and an overview of common loan program guidelines they offer. Understanding Wholesale Mortgage…
In this article, we will cover and discuss why choose an FHA over a VA home loan on a home purchase.VA Home Loans are the best primary mortgage loan programs in the United States. To be eligible for VA Loans, borrowers need to be active duty and/or retired members of the United States Military with…
What credit score do you need for a USDA home loan? The USDA does not have a minimum credit score requirement but 640 is the minimum for “streamlined” underwriting. Most mortgage lenders set a minimum score, usually 640. However, an applicant with a low score but no recent bad credit qualifies for USDA financing. USDA credit…
In this article, we will discuss and cover the upfront fees during mortgage application process. The mortgage application process starts when pre-approved borrowers get a real estate purchase contract. Or if borrowers are homeowners, they give the mortgage loan originator the heads up to start the refinance mortgage process. The mortgage loan originator will send out…
In this blog, we will cover and discuss extenuating circumstances guidelines on home loans. When you read the agency guidelines, there is a lot of text about extenuating circumstances. However, the agency guidelines are not specific what exactly classifies for an extenuating circumstance. The team at Gustan Cho Associates gets countless calls and email inquiries…
This ARTICLE Is About HUD Self-Employment Guidelines On FHA Home Loans HUD Self-Employment Guidelines allow self-employed borrowers to qualify for FHA loans. The borrower needs to have been self-employed for the past two years. Income and employment are one of the most important factors when qualifying for a mortgage. Lenders want to see and believe…
This guide covers the net tangible benefits of refinance with lower mortgage rates. Right now may be the opportunity for homeowners to refinance with lower mortgage rates. Mortgage rates have been steadily decreasing for the past several weeks and seem like they will continue to creep lower due to the sudden hike after the news…
This Article Is About Verifications Required By Lenders During The Mortgage Process There are multiple verifications required by lenders during the mortgage application and approval process. With all the mortgage guidelines put in place after the real estate crash of 2008, mortgage lenders must complete numerous verifications to approve a borrower for a mortgage loan….
This Article Is About Mortgage Guidelines After Foreclosure To Qualify For Home Purchase Mortgage borrowers can qualify for a mortgage after a housing event. A housing event is a foreclosure, deed in lieu of foreclosure, or short sale. Every loan program has its own waiting period requirements after a housing event. The waiting period start…
Buying Home With High Property Taxes Affects Debt To Income Ratio and may limit a home buyer’s buying power and how much home they can afford. One of the things home buyers need to seriously take into consideration when buying a home in a certain areas are the property taxes. Buying Home with High Property Taxes…
This Article Is About The Waiting Period After Foreclosure To Qualify For Mortgage For those who are planning on buying a new home and qualifying for a new residential mortgage loan but have prior foreclosure, deed in lieu of foreclosure, short sale, and/or bankruptcy, there is a mandatory Waiting Period After Foreclosure To Qualify For…
Call Now 