Compensating Factors on Manual Underwriting
Mortgage Underwriters will require one or more compensating factors for borrowers with higher debt to income ratio on manual underwrites to offset the risk of the higher DTI.
What Factors Are Considered Layered Risk In Manual Underwriting
In this blog, we will be discussing the factors that are considered layered risks in manual underwriting. FHA and VA loans are the two primary loan programs that permit manual underwriting. When a VA or FHA loan receives a refer/eligible finding on the automated underwriting system (AUS), the application can still proceed with manual underwriting….
What Factors Affect Mortgage Rates Pricing on Home Loans
Lenders base each borrower’s credit scores as well as other risk factors when determining mortgage rates. The higher the risk of a borrower, the higher the rate. It is best for each borrower to maximize their credit scores and other layered risks to get the best mortgage rates.
Debt-To-Income Ratio Overlays Versus Agency Guidelines
Debt-to-Income Ratio Overlays: What Homebuyers Need to Know Your debt-to-income ratio (DTI) matters to lenders when getting a mortgage. But here’s the catch: different lenders have their own set of rules. Some can add their own extra restrictions on top of the basic guidelines, and these extra rules are what we call debt-to-income ratio overlays….
How To Rebuild Credit For Mortgage Approval
How to Rebuild Credit for Mortgage Approval: A Simple Step-by-Step Guide If you want to buy a home but have a low credit score, don’t worry. You’re not alone. Many people today are working to fix their credit. The good news? You can rebuild credit for mortgage approval faster than you think. At Gustan Cho…
Front-End Debt-to-Income Ratios Mortgage Guidelines
In this guide, we will cover front-end debt-to-income ratios mortgage guidelines. There are two different types of debt-to- income ratios: Front-End Debt-to-Income Ratios Back-End Debt-to-Income Ratios A homeowner’s monthly mortgage payment consists of the following and is called P.I.T.I. Principal Interest Property Taxes Homeowners Insurance The above is called P.I.T.I. However, many borrowers have other…
Difference Between Fannie Mae And Freddie Mac
Fannie Mae and Freddie Mac Explained: What’s the Difference? If you’re considering purchasing or refinancing a home, you’ve likely heard of Fannie Mae and Freddie Mac—two major names in the mortgage industry. But what exactly do they do, and how do they differ? Here, we’ll break down the essentials to help you understand the difference…
Mortgage Lender Overlays on FHA And VA Loans vs Guidelines
This guide covers mortgage lender overlays on FHA and VA loans. Mortgage lender overlays are mortgage lending guidelines above and beyond those mandated by mortgage loan programs. There are two types of mortgage lending guidelines: Mortgage Loan Program Guidelines Mortgage Lender Overlays All banks and mortgage companies must follow loan program guidelines. However, every bank…
Short Sale Versus Foreclosure Mortgage Guidelines
In this guide, we will explain the difference between a short sale and foreclosure, as many viewers often get confused about this. We will also compare the benefits of short sale versus foreclosure. If home buyers plan on buying a new home with Conventional Loans, a short sale instead of foreclosure can be beneficial. However,…
Manual Underwriting | Compensating Factors | FHA Loans | High Debt To Income Ratio | VA Loans | Verification Of Rent | Videos
DTI Manual Underwriting Guidelines on FHA and VA Loans
Understanding DTI Manual Underwriting Guidelines for FHA, VA, Non-QM, and Alternative Loans (2025 Update) Debt-to-income (DTI) manual underwriting guidelines are critical for borrowers who may not qualify through automated systems but want to achieve their dream of homeownership. Whether you’re applying for an FHA loan, a VA loan, or a non-QM loan, manual underwriting can…
Manual Underwriting With Late Payments Mortgage Guidelines
Can You Qualify For Manual Underwriting With Late Payments? VA and FHA allow manual underwriting for borrowers who cannot get an approve/eligible per automated underwriting system.
FHA Debt-To-Income Ratio Requirements
FHA Debt-To-Income Ratio Requirements: What You Need to Know If you’re applying for an FHA loan, one of the most important things lenders look at is your debt-to-income ratio (DTI). Simply, this tells lenders how much of your income is already going toward monthly debts, including your future mortgage. If your DTI is too high,…
Manual Downgrade From AUS Approval on FHA Loans
Manual Downgrade from AUS Approval: What It Means and How to Get a Mortgage in 2025 Getting a mortgage can feel like a roller coaster. One minute, you’re told you’re approved. The next? You’re told your file is being downgraded. If you’ve heard the words “manual downgrade from AUS approval,” you’re not alone. And don’t…
FHA Loan With Recent Late Payments in the Past 12 Months
FHA Loan with Recent Late Payments: A Guide to Qualifying Suppose you’ve had recent late payments on your credit report. In that case, you might wonder if qualifying for an FHA loan is possible. At Gustan Cho Associates, we specialize in helping borrowers with less-than-perfect credit, including those with late payments in the past 12…
Non-Qualified Mortgages: Get Approved When Banks Say No
Non-Qualified Mortgages: 2025 Guide to Flexible Home Loans When Banks Say No Are you self-employed, have credit challenges, or have recently filed for bankruptcy or foreclosure? If you’ve been told “no” by traditional lenders, it’s time to look into non-qualified mortgages. These are flexible loan options designed for people who don’t fit inside the standard…
Nebraska Mortgage Calculator With PITI, PMI, HOA, and DTI
Nebraska Mortgage Calculator: 2025 Guide to Monthly Home Costs Are you buying a home in Nebraska and wondering what your real monthly payment will be? The Nebraska mortgage calculator from Gustan Cho Associates gives quick, accurate answers. Whether you’re a first-time homebuyer or moving into your dream home, knowing if you can afford it is…
Mississippi Mortgage Calculator With PITI, PMI, HOA, and DTI
Mississippi Mortgage Calculator: 2025 Guide to Budgeting Your Home Loan with Confidence Are you thinking about buying a home in Mississippi? Before you fall in love with a house, make sure it fits your budget. The easiest way to do that? Use the Mississippi mortgage calculator by Gustan Cho Associates. It’s the most accurate tool…
Maine Mortgage Calculator With PITI, PMI, HOA and DTI
Maine Mortgage Calculator: 2025 Guide to Budgeting Your Home Purchase Are you thinking about buying a home in Maine? Before falling in love with your dream house, it’s important to ensure it fits your budget. The easiest way to do that? Use the Maine mortgage calculator by Gustan Cho Associates. Our calculator goes beyond principal…
Massachusetts Mortgage Calculator With PITI, HOA, and DTI
Massachusetts Mortgage Calculator: 2025 Guide to Know Your Real Home Costs Are you thinking about buying a home in Massachusetts? Before you start shopping, it’s smart to know your real monthly mortgage payment. That’s where the Massachusetts mortgage calculator by Gustan Cho Associates comes in. This easy-to-use tool helps you calculate your payment, including more…
Maryland Mortgage Calculator | Powered By Gustan Cho Associates Mortgage
Maryland Mortgage Calculator: 2025 Guide to Know Your Real Home Costs Thinking about buying a home in Maryland? Before falling in love with a house, it’s smart to know your monthly payment. That’s where the Maryland mortgage calculator by Gustan Cho Associates comes in. It helps you see the full picture—not just your loan amount…
Jumbo DTI Mortgage Calculator—No Guesswork, Just Results
Jumbo DTI Mortgage Calculator: 2025 Guide to Qualify for Big Home Loans Are you looking to buy a high-end home but unsure if your income and debt qualify? Use our jumbo DTI mortgage calculator to get real answers—fast. At Gustan Cho Associates, we help buyers get approved for jumbo mortgages, even if other lenders say…
FHA Back to Work Home Loans: Hope After Hard Times
FHA Back to Work Home Loans: 2025 Guide to Buying After Hardship If you lost your job, went through a foreclosure, or filed for bankruptcy in the past, and you’re wondering if homeownership is still within reach, you’re not alone. Many families are looking for ways to bounce back after financial hardship. That’s where the…
