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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…
AUS Approval On Conventional Loans Versus Refer-Eligible Per AUS: There are ways and tricks of the trade to get an approve eligible per automated underwriting system on conventional loans.
Getting a mortgage approval after bankruptcy can feel stressful. Having late payments after a bankruptcy discharge makes things even more challenging. You may have heard lenders say it’s impossible. But here’s the good news: You can get an AUS approval with late payments after bankruptcy. At Gustan Cho Associates, we specialize in helping borrowers who’ve…
How Errors on Credit Reports Impact Mortgage Approvals If you’re looking to buy a home, one of the first things your mortgage lender will check is your credit report. Your credit report is like your financial report card, showing lenders how well you’ve managed money in the past. But what happens if there are errors…
Maximum Debt-To-Income Ratios for AUS Approval: What You Need to Know in 2024 When applying for a mortgage, your debt-to-income (DTI) ratio is a major consideration for lenders. But what exactly is a DTI ratio, and why is it so important? If you’re wondering how to make sure your DTI ratio falls within the guidelines…
HUD DTI Guidelines on Manual vs AUS Findings: What You Need to Know for 2024 When buying a home with an FHA loan, understanding your debt-to-income ratio (DTI) is crucial. Knowing how your DTI is assessed can make all the difference in getting approved if you are a first-time homebuyer or looking to refinance. In…
First-time homebuyers, especially, may be easily overwhelmed by the complexities of purchasing a home. One of the most critical aspects of obtaining a mortgage is grasping the Debt-to-Income (DTI) ratio, for which FHA loans are particularly crucial. For approval or eligibility per AUS (Automated Underwriting System), these FHA DTI Guidelines are important. In this guide,…
In this article, we will discuss and cover the VA automated findings on the automated underwriting systems (AUS). VA loans has more lenient agency mortgage guidelines than any other loan program. All VA loans need to go through the Automated Underwriting System for VA Automated Findings. What is the Automate Underwriting System (AUS) The Automated…
This Article Is About FHA AUS Approval Versus Manual Underwriting On FHA Loans HUD, the parent of the Federal Housing Administration (FHA) has recently changed its algorithms on the Automated Underwriting System (AUS) to make harder to get an approve/eligible per AUS on FHA Loans. This only applies for borrowers with credit scores of under…
Austin, Texas has one of the highest in-migration rates in the nation. The Austin housing market is booming. There is a major shortage of housing in Austin, Texas due to the mass migration to this Texas city.
In this article, we’ll discuss about Should I Use Fannie Mae or Freddie Mac for Automated Underwriting Systems (AUS). There are two distinct types of AUS available. Many loan officers may not realize that if a borrower fails to receive automated approval from Fannie Mae’s system, they could still obtain an “approve/eligible” status through Freddie…
In this article, we will discuss VA AUS approval versus manual underwriting on VA loans. VA loans are the best loan program for owner-occupant home buyers. The Department of Veterans Affairs, The VA, is the government agency that insures VA Loans to private lenders who originate and fund VA loans. The Veterans Administration does not…
The Federal Housing Administration (FHA), a segment of the United States Department of Housing and Urban Development, was established in 1934. Its primary mission is to foster homeownership among Americans, particularly those with moderate incomes, less-than-perfect credit, and minimal down payments. The FHA plays a vital role not as a lender but as a government-sponsored…
When does an automated underwriting system approved file get downgraded to a VA manual underwrite downgrade on VA loans happen? If you are following Gustan Cho Associates, you know we are experts in VA mortgage guidelines. We do our best to help as many of our Nation’s veterans as possible. The team at Gustan Cho…
In this blog, we will cover and discuss how to reach a human at the credit bureaus on the phone. Sometimes it is impossible to reach a human at the credit bureaus. This holds especially true at Experian. Gustan Cho Associates has tricks of the trade for our viewers to get a hold of a…
In this blog, we will cover and discuss what is DU automated approval on the automated underwriting system. A sound mortgage loan approval? My Loan Officer told me I had a DU Automated Approval, what is that? There are two types of automated underwriting system approvals. Fannie Mae Desktop Underwriter also referred to as DU…
This guide addresses the issue of credit tradelines not reporting to credit bureaus. When faced with this situation, finding solutions can be frustrating and challenging. I experienced this and will share my experience dealing with credit tradelines that must be reported to credit bureaus. There were no answers available, and the automated systems of the…
This guide deep dives into the significance of the FHA and VA Amendatory Clause. We will explore the implications of these clauses for borrowers and underscore their crucial role in the loan process. It’s essential to note that HUD, the overseeing entity of FHA and VA, does not originate or fund loans. Instead, these government…
How To Get Refer To Approve-Eligible Per AUS To Qualify For Mortgage: There are ways of trying to get a refer/eligible findings to an approve/eligible per automated underwriting system.
In this blog, we will discuss and cover VA refer-eligible findings versus AUS approval guidelines. The United States Department of Veterans Affairs commonly referred to as The VA, is the parent federal agency that administers VA Home Loans for the active and retired members of our Military. In the complex real estate landscape, the intersection…
In this blog, we will cover the mortgage due-on-sale clause when you inherit a house with a lien. If you are inheriting a property with a mortgage, you may wonder if the mortgage due-on-sale clause is relevant to you. The mortgage due-on-sale clause is a provision in mortgage loans that gives the lending company the…
Many Americans are familiar with the terms Fannie Mae and Freddie Mac, but may not know exactly what they represent. Many believe Fannie Mae and Freddie Mac are branches of the federal government. The role of Fannie Mae and Freddie Mac is to guarantee conventional mortgage loans. After the real estate crash of 2008, the…
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