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 this guide, we will be covering the commonly refinance FAQ. There are many refinance mortgage loan programs such as rate and term, cash-out refinance, FHA and VA streamline refinance, reverse mortgages, refinancing non-QM loans to the traditional government and/or conventional loans, refinance FHA to conventional, and refinancing to get co-borrowers out of the mortgage….
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 mortgage guide on Fannie Mae guidelines on conventional loans will cover the latest updates on Fannie Mae and Freddie Mac guidelines on changes in conforming loans. It will include loan limit increases in both standard median-priced areas and high-cost counties. Conventional loans are the mortgage loan of choice because borrowers are not stuck with…
In this article, we will cover the difference between Conventional versus FHA loan guidelines. We will discuss the differences between Conventional versus FHA loan for borrowers. Borrowers may benefit from one loan program over the other. Each case will need to be evaluated on an individual case-by-case basis. There have been changes with Conventional versus…
Apply Now In this blog, we will cover the comparison of FHA versus conventional mortgages on purchase and refinance transactions. Prior to home buyers starting the home buying process, it is highly recommended that they educate themselves on the type of loan program that is best for them. Benefits of FHA Versus Conventional Mortgages For…
This article covers conforming conventional (Fannie Mae and Freddie Mac) mortgages after bankruptcy. In general, the waiting period to qualify for a conventional mortgage after bankruptcy is longer than it is for an FHA home loan. If you have a bankruptcy in your recent past, then, an FHA or other government-backed mortgage is the right…
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