ByGustan Cho, NMLS 873293
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HUD Guidelines On FHA Property Standards is the home needs to be safe, secure, and habitable. No need to be alarmed if the home is old. As long as the home is secured, safe, and habitable, it will pass FHA Home Appraisal.
ByGustan Cho, NMLS 873293
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Self-employed borrowers are now eligible to get an approve/eligible per automated underwriting system with one-year income tax returns.
ByMike Gracz, NMLS: 1160212
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Quick Answer: Lender complaints and bad reviews can be red flags, but neither the star rating nor the number of…
ByAlex Carlucci, NMLS: 229891
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Quick answer: The difference between FHA appraisals versus conventional appraisals is essentially down to the property requirements and the range…
ByGustan Cho, NMLS 873293
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Quick answer: An FHA loan with low credit score may be available if your score is 500 or above. For…
ByGustan Cho, NMLS 873293
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Quick Answer: FHA guidelines on late payments after bankruptcy vary depending on the account in question, how late the payment…
ByGustan Cho, NMLS 873293
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Quick answer: You may be eligible for an FHA mortgage after bankruptcy, but it will depend on the chapter of…
ByJohn Strange, NMLS: 230932
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Quick Answer: Re-establishing credit to qualify for FHA loan means building a record of responsible debt management. First, review your…
ByAlex Carlucci, NMLS: 229891
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Quick Answer: The VA funding fee is a one-off charge on most VA loans (unless you qualify for an exemption)….
ByGustan Cho, NMLS 873293
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Quick Answer: Credit and DTI guidelines on conventional loans depend on the underwriting system and loan product. Fannie Mae DU…
ByGustan Cho, NMLS 873293
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Borrowers who have credit scores under 620 FICO need a lower debt to income ratio to get an approve/eligible per automated underwriting system.
ByAlex Carlucci, NMLS: 229891
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Quick answer: Understanding how credit scores impact DTI begins with the distinction between the DTI calculation and the DTI approval…
ByMike Gracz, NMLS: 1160212
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Quick Answer: Acceptable sources of verifiable funds for closing can include checking and savings accounts, eligible gifts, investment and retirement…
ByJohn Strange, NMLS: 230932
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HUD reserve requirements depend on the property type and how the FHA loan is underwritten. A standard one-unit FHA loan…
ByMike Gracz, NMLS: 1160212
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Boarder income mortgage guidelines may allow established roommate rent to help you qualify for an FHA, VA, Fannie Mae HomeReady,…
ByGustan Cho, NMLS 873293
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A loan officer document checklist helps make sure the file is complete before pre-approval, processing, and underwriting. The exact documents…
ByAlex Carlucci, NMLS: 229891
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Travel insurance can help cover eligible losses if an unforeseen event disrupts your trip. The benefits available will vary by…
ByGustan Cho, NMLS 873293
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Home improvement projects that add value are generally those that address worn features, improve the property’s day-to-day functionality, or fix…
ByGustan Cho, NMLS 873293
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Yes. A remote W-2 employee may qualify for a mortgage, including when buying a primary residence in another state. In…
ByGustan Cho, NMLS 873293
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A co-signed loan payment may be excluded from your mortgage debt-to-income (DTI) ratio when the applicable loan program’s requirements are…
ByGustan Cho, NMLS 873293
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Can I qualify for two FHA loans due to expanding family size? Yes, you may qualify for two FHA loans…
ByMike Gracz, NMLS: 1160212
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California FHA 203(k) loans allow eligible buyers to finance a home purchase and approved renovations with a single FHA-insured mortgage….
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