This guide will cover getting approved for a VA loan with recent late payments. The Veterans Administration has helped thousands of veterans and service members buy or refinance homes with VA loans. VA loan is a mortgage program that benefits eligible borrowers greatly, such as no down payment required on a home purchase. Ronda Butts,…
Apply Now In this blog, we will discuss and cover VA collections mortgage guidelines. We will discuss how you can qualify for VA loans without paying outstanding collection accounts. The Department of Veterans Affairs has recently updated the VA collections mortgage guidelines on VA home loans. Gustan Cho Associates specializes in VA mortgages. VA guidelines…
Apply Now In this blog, we will discuss and cover VA DTI mortgage Guidelines. VA DTI mortgage guidelines state there is no maximum debt-to-income ratio cap on VA loans with an approve/eligible per automated underwriting system (AUS). You should get an approve/eligible per automated underwriting system as long you have strong residual income. You…
Apply Now In this article, we will cover understanding VA home mortgages for veteran homebuyers. We will cover and discuss the eligibility requirements for active duty and retired veterans. Understanding VA Home Mortgages and the Agency Guidelines is very important because most lenders have lender overlays on VA loans. What Are Lender Overlays on VA…
VA loan limits for most counties in the United States were tied to the conforming loan limits set by the Federal Housing Finance Agency (FHFA). The FHFA announced that the conforming loan limit for most of the country would be $726,200 for a single-family home. However, there were higher limits for certain high-cost areas. These…
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…
The U.S. government created and implement VA loans to reward active-duty and retired members of the U.S. Military to show their appreciation of serving our country. Only U.S. Armed Services veterans who meet the VA Eligibility Guidelines And Requirements can qualify to obtain a Certificate of Eligibility (COE) You need a valid COE to meet…
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…
This VA home loan guide will cover qualifying for a VA loan with bad credit. VA loans are the best mortgage loan program for owner-occupant homes. One of the greatest benefits a Veteran of the United States Armed Services can get by serving our country is to be eligible for a VA loan. The VA…
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 buying a home in North Carolina with bad credit. Buying a home is a significant milestone in life, and it’s one that many people aspire to achieve. However, when you have poor credit, it can feel like an uphill battle. The good news is that buying a home in…
In this blog, we will be covering a common frequently asked question: can a 500 credit score get a VA home loan? The team at Gustan Cho Associates are experts in VA loans with low credit scores. One of the most popular loan programs we help borrowers with is VA and FHA loans with credit…
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