This blog will cover changes to HUD guidelines on FHA loans for 2023. Changes To HUD Guidelines on FHA loans for deferred student loans are one of the most important changes that have taken effect. Homebuyers considering purchasing a new home this year or refinancing their current homes need to know about changes to HUD…
In this blog, we will discuss and cover HUD condominium guidelines on FHA loans. HUD, the parent of FHA, is the federal agency that creates and implements FHA condo guidelines. Condominiums are becoming increasingly popular. Many Millennials and seniors often opt to purchase a condo versus a single-family home due to less maintenance. Unfortunately, per…
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 this blog will discuss qualifying for an FHA loan with bad credit. FHA loans are the most popular mortgage loan program for borrowers with bad credit, first-time homebuyers with no credit, borrowers with high debt-to-income ratio, recent college graduates, and borrowers with low credit scores. This article will cover qualifying for FHA loans with…
In this blog, we will cover the HUD minimum credit score guidelines on FHA loans. HUD minimum credit score guidelines to qualify for a 3.5% down payment home purchase mortgage loan is set at a 580 FICO credit score. If your credit scores fall between 530 FICO and 579 FICO, you can still qualify for…
In this article, we will be covering qualifying for an FHA loan after foreclosure waiting period requirements. HUD, the parent of FHA, has mandatory waiting period requirements after a housing event. A housing event is a foreclosure, a deed in lieu of foreclosure, or a short sale. We will also cover other mortgage loan options…
In this blog, we will cover and discuss how to qualify and how get FHA condominium loans approved. Condominiums are becoming increasingly popular. Many folks of all age groups are interested in condo living. Condominiums have condo homeowners associations. The condo HOA runs the exterior and common areas of the condominium community. What Does The…
In this guide on Gustan Cho Associates we will cover qualifying for FHA loans with collection accounts mortgage guidelines. HUD, the parent of FHA loans, is the most popular mortgage option for borrowers with bad credit. Outstanding collection accounts do not have to be paid to qualify for FHA loans. Also, outstanding charged-off accounts do…
A frequently asked question by our clients is how to buy a house with bad credit? It is a given that it is best to have the maximum highest credit scores you can achieve when you apply for a mortgage. This is due to mortgage rates being priced based on the borrower’s rates among other…
FHA Loans are the most popular mortgage programs today due to the many benefits it offers. There are thousands of mortgage loan applicants with great credit scores But due to the strict mortgage guidelines on conventional loans set by Fannie Mae and Freddie Mac cannot qualify for a residential mortgage Some of the hurdles conventional…
Apply Now This blog will cover qualifying for FHA loans with low credit scores and bad credit mortgage guidelines. FHA loans are this country’s most popular loan program and enable hard-working Americans eligible to be homeowners. The minimum down payment required is 3.5%. Home sellers can contribute up to 6% of homebuyers’ closing costs. A…
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…
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