This guide covers owner-occupant home guidelines. Both HUD and Fannie Mae have strict guidelines when it comes to owner-occupant financing. First of all, HUD, the mother of FHA loans, only offers owner occupant mortgages. HUD does not offer second home financing or investment home financing with FHA loans. Fannie Mae offers owner-occupant loans, second home…
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…
In this article, we will cover and discuss title insurance protection that is required by all mortgage lenders. We will cover what Title Insurance Protection is and why mortgage lenders require title insurance protection. Title Insurance Protection insures that the “record” title is good subject only to the exceptions expressly set out in the title…
This ARTICLE On Doctors Funding Group: Financing For Medical Professionals Was PUBLISHED On July 19th, 2018 Doctors Funding Group is a national direct lender for doctors, dentists, podiatrists, veterinarians, chiropractors, nurse practitioners, pharmacists, medical researchers, PhDs, and other healthcare workers. DFG offers specialty loan programs for members of the healthcare industry and understands the needs…
In this article, we will discuss and cover adjustable-rate mortgage interest rates. Let us help figure out what is best! And if an ARM, Adjustable-Rate Mortgage is what is needed, please read on. In this article, we will discuss and cover the benefits of ARMs versus fixed-rate mortgages. What Is Best To Use Adjustable-Rate Mortgage…
This guide covers multiple offers by homebuyers on purchases of listed homes. How do you tackle cases of multiple offers by homebuyers on purchases? The housing market is booming. Booming? This word is an understatement. Homebuyers new to the housing market need to realize the new norm. The new norm is paying more than the…
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…
This guide covers the difference between FICO versus Vantage Score. In personal finance, credit scores are crucial in determining your Eligibility for various financial products, including mortgages. Two names stand out regarding credit scoring models: FICO versus Vantage Score. These credit scoring systems play a crucial role in determining a person’s creditworthiness and are used…
In this blog, we will discuss and cover actions to take if you get a home loan denial and steps to get approved by another mortgage lender. Not all mortgage lenders have the same lending requirements on FHA, VA, USDA, and Conventional loans. All lenders need to make sure their borrowers meet the minimum agency…
This guide covers buying a home in Hawaii with bad credit and low credit scores. Even though buying a home in Hawaii on the islands is often a challenge, it’s not impossible. It is doable and realistic for those with not-so-good credit reports and some prep work. In many cases, those who had previously declared…
This guide covers what mortgage fraud is. What is mortgage fraud during the homebuying and mortgage process? There are two types of loan fraud. Fraud for housing (tricking a lender into approving a loan it would otherwise decline). Fraud for profit (stealing cash and equity from lenders or homeowners). A real estate agent might secretly…
This guide covers manufactured home mortgage guidelines. We will discuss qualifying for manufactured home mortgage loans. Manufactured homes are built at a factory and delivered to a destination. Gustan Cho Associates are mortgage lenders licensed in 48 states, including Washington, DC, Puerto Rico, and the U.S. Virgin Islands. We have a national reputation for being…
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