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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Buying a House Near an Apartment Community: Property Value, Financing, and Buyer Checks
Buying a house near an apartment community does not automatically lower its value or prevent mortgage approval. What matters is…
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Refinance Mortgage When House Is Still Listed for Sale: What Lenders Require
You may be able to apply for a refinance mortgage when house is still listed for sale, but the listing…
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Mortgage Payment Shock: Can You Qualify With a Higher Payment?
Quick answer: What is mortgage payment shock? Mortgage payment shock means your new monthly housing payment is higher than what…
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TSAHC DPA Mortgage: Texas Requirements and Assistance Options
A TSAHC DPA mortgage can help eligible Texas homebuyers pay their down payment and allowable closing costs. Assistance ranges from…
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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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Mortgage Guidelines Versus Overlays: Why One Lender May Approve You and Another Won’t
Mortgage guidelines versus overlays come down to who sets the requirement. Mortgage guidelines are the basic rules established by agencies…
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Social Security Income for Mortgage Qualification: Guidelines and Gross-Up Rules
Yes. You can use Social Security income for mortgage without employment income, provided your benefits and financial profile meet the…
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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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Job Relocation Mortgage Guidelines for Out-of-State Homebuyers
Job relocation mortgage guidelines can allow you to buy a home when transferring with your current employer or moving for…
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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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Colorado DPA Mortgage Programs For First-Time Homebuyers
The Gustan Cho Associates are experts in down payment assistance (DPA) programs. We are proud to offer Colorado Housing and Finance Authority ( CHFA) down payment assistance programs. In this blog we will detail the advantages and disadvantages of using down payment assistance as well as how to apply for a mortgage with a Gustan Cho Associates when receiving Colorado down payment assistance.
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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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Fannie Mae Guidelines On Mortgage After Foreclosure
Buying another home after foreclosure starts with knowing which waiting period applies to your situation. Before choosing a property or…
