In this blog, we will cover and discuss buying for sale by owner homes. Most homebuyers purchase a home that is listed on the MLS by a real estate agent. Not many folks are Buying For Sale By Owner Homes without a realtor. However, there are cases where Buying For Sale By Owner Homes is…
In this blog, we will cover how to get a mortgage in Wyoming with the best mortgage rates with a lender with no lender overlays. Borrowers with credit scores over 700 FICO can check out discount mortgage brokers in Wyoming, such as www.preferredmortgagerates.com and jumbomortgageoptions.com. How To Get a Mortgage in Wyoming With The Best…
HUD, the Federal Housing Administration parent, has lowered the hefty FHA mortgage insurance premium on FHA loans by 30 basis points. The annual FHA mortgage insurance premium of 0.85% got reduced to 55% of the mortgage loan balance. Reducing FHA mortgage insurance premium is a welcome move for many Americans. This holds especially true for…
This blog will cover the waiting period after bankruptcy and foreclosure mortgage guidelines on government and conventional loans. There is a mandatory waiting period after bankruptcy and foreclosure to qualify for a residential mortgage loan. If you had a prior bankruptcy, there is a mandatory two-year waiting period after the discharge date of your…
This guide will cover using hard money loans for bad credit borrowers to purchase real estate properties. Many folks have heard of hard money loans for bad credit. Hard money loans for bad credit are loans made by hard money lenders who are private investors. One frequently asked question at Gustan Cho Associates is how…
In this guide, we will cover down payment for home purchase requirements by mortgage lenders. Homebuyers planning to purchase a home have two types of costs they need to come up with. Down Payment For Home Purchase Requirements Closing Costs Mortgage lenders will require a down payment for home purchases. This is because they want…
Apply Now VA loan after foreclosure waiting period requirements is the same for deed-in-lieu of foreclosure and short-sale. Foreclosure, deed-lieu of foreclosure, and short sale all have the same waiting period requirements to qualify for VA loans. Veterans who have lost their homes due to a prior foreclosure can qualify for a VA loan after…
This article will cover non-conforming mortgage loans and bank statement mortgages for self-employed borrowers. There are no income tax returns required on bank statement mortgages. Dale Elenteny of Gustan Cho Associates explains non-conforming mortgage loans: Any mortgage loans do not conform to Fannie Mae and Freddie Mac mortgage lending guidelines are called non-conforming loans. Jumbo…
Apply Now In this guide, we will cover bank statements in the mortgage process. We will discuss how mortgage underwriters analyze bank statements of mortgage loan applicants. The underwriter will thoroughly scrutinize bank statements during the mortgage process. Lenders want two months’ worth of bank statements. Any irregular deposits outside payroll check deposits must be…
Apply Now In this guide, we will cover pre-qualification vs pre-approval homebuyers. A pre-qualification is a general informal approval to see if the borrower qualifies for a mortgage loan. A pre-approval is more in-depth than a pre-qualification. For example, a loan officer can have a fifteen to thirty-minute interview with the applicant and determine whether…
Apply Now This blog will cover and discuss the mortgage underwriter role during the mortgage process. For borrowers ready to apply for a residential mortgage loan, there is a process they must go through, no matter which mortgage lender they choose. Once borrowers decide on a mortgage lender, the loan officer will complete and sign…
Apply Now n this article, we will discuss qualifying for a home loan after bankruptcy and foreclosure. The great news for home buyers is that they can now qualify for a home loan after bankruptcy and foreclosure with no waiting period requirements with our new NON-QM Loans. There are waiting period requirements in qualifying for…
Call Now 