Credit and DTI Guidelines on Conventional Loans
Quick Answer: Credit and DTI guidelines on conventional loans depend on the underwriting system and loan product. Fannie Mae DU…
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Home Mortgages | Credit Disputes | Credit Scores | FHA Loans | Qualifying & Getting Pre-approved | Re-Establishing Credit | Videos
Understanding FHA Guidelines On Credit Scores Versus DTI
Borrowers who have credit scores under 620 FICO need a lower debt to income ratio to get an approve/eligible per automated underwriting system.
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Loan Officer Document Checklist: Mortgage Pre-Approval and File Submission Guide
A loan officer document checklist helps make sure the file is complete before pre-approval, processing, and underwriting. The exact documents…
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Home Improvement Projects That Add Value to Your Home
Home improvement projects that add value are generally those that address worn features, improve the property’s day-to-day functionality, or fix…
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Remote Wage-Earner Mortgage Guidelines: How Lenders Verify Remote Employment
Yes. A remote W-2 employee may qualify for a mortgage, including when buying a primary residence in another state. In…
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Exempt Debts of Co-Signed Loans: How Mortgage Lenders Exclude Payments From DTI
A co-signed loan payment may be excluded from your mortgage debt-to-income (DTI) ratio when the applicable loan program’s requirements are…
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Two FHA Loans Due to Expanding Family Size: HUD Guidelines and 75% LTV Rule
Can I qualify for two FHA loans due to expanding family size? Yes, you may qualify for two FHA loans…
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How Do Mortgage Lenders View Charge-Offs When Applying for a Home Loan?
How do mortgage lenders view charge-offs? Unpaid charge-offs not related to a mortgage typically won’t prevent you from getting a…
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Declining and Irregular Income: How Mortgage Underwriters Calculate Qualifying Income
Irregular income may be eligible for a mortgage if a reliable monthly income history can be demonstrated. Income that is…
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Mortgage Processing And Underwriting | Income And Employment | Qualifying & Getting Pre-approved | Videos
How Underwriters Analyze Bank Statements for Mortgage Approval
How underwriters analyze bank statements comes down to one main question: are the funds in the account acceptable, documented, and…
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FHA Guidelines on Mortgage After Loan Modification: Purchase and Refinance Rules
A prior loan modification does not automatically prevent FHA approval. FHA guidelines on mortgage after loan modification depend on the…
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Home Loan With Job Offer Letter: Mortgage Guidelines Before You Start Work
Yes, qualified borrowers may get a home loan with job offer letter before starting work or receiving their first paycheck….
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Maximum Debt-to-Income Ratios for AUS Approval by Loan Program
Maximum debt-to-income ratios for AUS approval vary by mortgage program. An automated underwriting system (AUS) evaluates the submitted loan information…
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FHA Loans With Child Support Payments Mortgage Guidelines
FHA loans with child support payments are possible whether you receive child support or pay it. If you receive child…
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Extenuating Circumstances Guidelines for Mortgage Approval After Financial Hardship
Many agency guidelines list extenuating circumstances as reasons for getting qualified for a mortgage when otherwise they would not qualify. However, borrowers need to understand
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Property Tax Proration VA Guidelines: Credits, Cash Back, and Cash to Close
Property tax proration VA guidelines help determine how unpaid or prepaid property taxes are divided between the buyer and seller…
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Fannie Mae Second Home Guidelines: Occupancy, Down Payment, and Reserves.
Fannie Mae second home guidelines require the borrower to occupy the property for part of the year and keep exclusive…
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Bad Credit Mortgages | Charge Off Accounts | Collection Accounts | Qualifying & Getting Pre-approved | Re-Establishing Credit | Regulations | Videos
Statute of Limitations on Collection Accounts
In this guide, we will cover and discuss the statute of limitations on collection accounts and charge-offs. We will go…
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Videos | Conditional Loan Approval | Mortgage Lender Overlays | Mortgage Processing And Underwriting | Qualifying & Getting Pre-approved
Denied by a Bank for Your Mortgage? How to Get Approved With Another Lender
This guide covers getting a home loan approved after a bank denies your mortgage application. There should be no reason…
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HUD 4000.1 FHA Handbook for FHA Loans
This guide is a shortcut guide to the HUD 4000.1 FHA Handbook, Revised for FHA Loans. The HUD 4000.1 FHA…
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Freddie Mac Foreclosure Guidelines: Qualifying for a New Mortgage
Freddie Mac foreclosure guidelines depend on how your new loan is underwritten. For manual underwriting, the standard foreclosure recovery period…
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Bad Credit Mortgages | Charge Off Accounts | Collection Accounts | Conventional Loans | FHA Loans | Videos
Do I Have to Pay Collections for FHA Loan Approval
Do I Have to Pay Collection Accounts for FHA Loan Approval? A frequently asked question by people who have had…
