This Article Is About The Benefits of Non-QM Loans and Non-Traditional Mortgages: Gustan Cho Associates is your trusted partner for Non-QM and Non-Traditional Mortgages. Non-QM and Non-Traditional Mortgages also referred to as alternative financing mortgages are home loans that are unique. Alternative financing loans do not meet the general lending guidelines of traditional government and/or […]
This Article Covers FHA/VA Bankruptcy Loans Mortgage Lending Guidelines: FHA and VA loans are two government loan programs for owner-occupant mortgages. FHA/VA loans are two of the three government loan programs available in the United States. Government loans are originated and funded by private lenders. Lenders offer government loans with little to no down payment […]
This Article Is About Mortgage With Low Credit Scores And Bad Credit Guidelines: Credit scores and income are two of the most important factors in qualifying for a mortgage. Borrowers can qualify for Mortgage With Low Credit Scores and bad credit. Consumers can have low credit scores and qualify for a home loan. However, borrowers […]
This Article Is About Qualifying For FHA/VA 500 FICO and Bad Credit Mortgage Loans: One of the most important things borrowers with lower credit scores and prior bad credit need to understand is agency guidelines versus lender overlays. Agency mortgage guidelines are the minimum lending requirements by the individual mortgage agency such as HUD, the […]
HUD, the parent of FHA, allows borrowers down to a 500 credit score to qualify for an FHA loan. However, for borrowers with under a 580 credit score, a 10% down payment is required. Borrowers need a 580 credit score to qualify for an FHA loan with a 3.5% down payment.
Gustan Cho Associates is one of the very few national lenders that have no lender overlays on FHA loans. We just go off the minimum agency guidelines and have zero lender overlays on government and conventional loans.
Mortgage rates are at historic lows. What are the guidelines on refinancing a home loan after covid-19 for homeowners if you took advantage of the government forbearance relief program?
This Article Is About Mortgage Rates On Bad Credit Loans Are mortgage rates on bad credit loans higher? Having bad credit does not affect mortgage interest rates Credit Scores do This is especially true on Conventional Loans Conventional loans do affect mortgage interest rates more so than government loans In this article, we will discuss […]
Mississippi has one of the hottest housing markets in the nation. The housing market in the state has been booming for many years.