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…
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…
This Article Is About Now Good Time Home Purchase In Chicago And Suburbs Chicago is the second-largest city in the United States behind the city of New York and followed third by Los Angeles. Chicago home prices are not ridiculously high like home prices in New York City and California. However, home prices have been…
This guide covers Fannie Mae HomeReady mortgage guidelines on conventional loans. There are two home loan programs: government loans, which are insured by government agencies, and FHA, VA, and USDA, which are government loans. Conventional loans that are not insured or have government or agency insurance This article will cover and discuss the Fannie Mae…
This guide covers community property states mortgage guidelines. Community Property States Mortgage Guidelines: Community property is derived from older Spanish law, which allows for a 50/50 split in any property owned by a married couple. This derives from the notion that maintaining equal ownership is essential to establishing a strong family unit, an important civil…
In a move with significant implications for the housing market, FHFA increases conventional loan limits in 2024. This decision comes amid evolving market conditions and aims to provide homebuyers with greater access to financing. Understanding these changes is crucial for prospective borrowers seeking to navigate the mortgage landscape effectively. Learn more about FHFA increases conventional…
Suppose you’re a real estate investor or looking to finance multiple properties. You may have heard of Fannie Mae 5-10 financed properties guidelines in that case. These guidelines limit the number of financed properties an individual can have when applying for a new mortgage through Fannie Mae. In this article, we will cover and discuss…
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…
Apply Now This guide covers the breaking news on the downpayment requirement on 2-to-4 Unit Multi-Family mortgage loans and the eligibility requirements to purchase a two-to-four-unit multi-family home. Fannie Mae lowers the down payment requirement on a two-to-four-unit multi-family primary home to a 5% down payment from the previous 15% to 25% down payment requirements,…
This article is on Freddie Mac Home Possible Mortgage Guidelines. Freddie Mac Home Possible Mortgage UPDATED on July 6th, 2023, by Paulyn Balagot, an associate contributing editor at Gustan Cho Associates. Gustan Cho Associates, empowered by NEXA Mortgage, LLC, is a mortgage broker licensed in 48 states with over 210 wholesale mortgage lenders. John Strange,…
This guide covers refinancing FHA to conventional loan eliminating FHA mortgage insurance premiums. Home sales are hot throughout the United States. Homes in Florida, California, Illinois, Virginia, Texas, Georgia, Indiana, Wisconsin, Washington, and the United States have appreciated double digits in the past 24 months. Dale Elenteny, a senior mortgage loan advisor at Gustan Cho…
Get a Fast Quote: Click Here This blog will cover conventional mortgage after short sale and deed-in-lieu of foreclosure. Homeowners who have had a deed-in-lieu of foreclosure or a short sale can qualify for a Conventional mortgage after short sale and deed-in-lieu after four year waiting period. The 4-year waiting period start clock starts from…
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