In this blog, we will cover and discuss FNMA waiting period guidelines after foreclosure for 2022. Conventional loans are often referred to as conforming loans because they need to conform to Freddie Mac and/or Fannie Mae guidelines. If lenders do not make sure conventional loans they originate and fund do not conform to FNMA or […]
In this blog, we will cover the Freddie Mac HomeOne Mortgage Loan Program. Fannie Mae and Freddie Mac are the two government-sponsored enterprises (GSE). Freddie Mac and Fannie Mac sets the guidelines and lending requirements for conventional loans. The role of Fannie Mae and Freddie Mac is to provide market stability and liquidity by purchasing […]
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 […]
Can you get a Freddie Mac mortgage if you have lots of investments or savings but little or no income? In many cases, you can convert assets into income (for mortgage qualifying purposes) by using asset depletion.
In this blog, we will cover and discuss Fannie Mae guidelines on conventional loan with collection accounts. Many homebuyers, especially first-time homebuyers are under the impression you need perfect credit, no collection accounts, no charge-offs, no late payments, high credit scores, and low debt-to-income ratios. None of the above is true. We will fact-check the […]
In this blog, we will discuss and cover the debt to income ratio for conventional loan programs. A conventional loan is any mortgage loan that is not insured nor guaranteed by the United States Federal Government. Conventional Loans have tougher lending guidelines than VA and FHA Loans with regard to debt to income ratio requirements. […]
In this blog, we will discuss and cover the new updated 2022 conventional loan limits increasing to $647,200 in traditional counties in the United States. 2022 conventional loan limits have increased to $970,800 for single-family homes in high-cost areas. The U.S. economy is booming. Historic records are being broken as days, weeks, and months pass. […]
This article on Freddie Mac Home Possible Mortgage Guidelines. Freddie Mac Home Possible Mortgage UPDATE By Michael Gracz, National Sales Manager at Gustan Cho Associates. Gustan Cho Associates Empowered by NEXA Mortgage, LLC is a mortgage broker licensed in 48 states with over 160 wholesale mortgage lenders. Most of the wholesale lenders in our network […]
In this blog, we will cover and discuss what are conventional loans or conforming mortgages and their benefits. Many home buyers often are not familiar with the various different mortgage options they have to choose from. However, which mortgage option is the best for them? One of the most common frequently asked questions we get […]
This article covers Fannie Mae Guidelines on second homes mortgage financing. There are three types of mortgage loans when it comes to residential financing. Primary homes Second homes Investment homes What Is The Definition of Fannie Mae Guidelines on Second Homes Versus Primary Owner-Occupant Homes Primary home financing is owner-occupant homes. Homeowners will reside in […]
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