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ByAnngelli Abenes
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Government and conventional loans require a mandatory waiting period after bankruptcy. Non-QM loans one day out of bankruptcy does not have waiting period requirements. However, a 30% down payment is required.
ByAnngelli Abenes
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When you’re looking at buying a fixer-upper, you might come across the term 203k mortgage loans. If you want to buy a home that needs some TLC, the Federal Housing Administration offers great options. In this updated guide, we’ll break down the types of 203k mortgage loans. We will explain their benefits. And we will…
ByAnngelli Abenes
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Today, our blog post will explore the FHA Chapter 13 Manual Underwriting Guidelines in detail. If you’re in the middle of a Chapter 13 bankruptcy or have been out of one for less than two years, this is for you. We want to make sure you’re armed with the most up-to-date and understandable information out…
ByAnngelli Abenes
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If you are considering qualifying for FHA loan after short sale, know you’re not alone. Many people find themselves in your shoes, wondering if there’s a way to bounce back and secure an FHA loan. The encouraging news is that getting approved for an FHA loan after a short sale is achievable. However, there are…
ByAnngelli Abenes
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Kentucky is becoming popular for people looking for affordable housing and a lower cost of living. Kentucky offers a more budget-friendly lifestyle compared to high-tax states like New York and Illinois. With low taxes and strong job opportunities, many residents from expensive states are moving to Kentucky for these benefits. Even though home prices in…
ByAnngelli Abenes
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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.
ByMike Gracz
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Exciting updates about the latest 2024 info on FHA loans in Louisiana! If you dream of owning a home here but worry about your credit score, this is for you! With its vibrant culture, budget-friendly homes, and warm weather, Louisiana welcomes loads of new folks each year. It’s a wonderful place to live. So, if…
ByAnngelli Abenes
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In this blog, we will discuss the rules for getting an FHA loan in Maryland when paying back debt under Chapter 13 Bankruptcy. If you’re buying a house or already own one, you can still qualify for an FHA loan even if you’re in the middle of your repayment plan, approved by a trustee. You…
ByAnngelli Abenes
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In this guide, we’ll explain everything you need to know about FHA appraisal guidelines and what your home needs to check off the list for 2024 FHA loans. We’ll also examine how these FHA appraisal guidelines compare to regular loan appraisals and point out what’s different. This is made to make things clearer for those…
ByAnngelli Abenes
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Today, an FHA cashout refinance mortgage loan can be a great option if you own a home and want to improve your financial situation. Let’s break down what this is all about, including its perks, who can get it, how to apply, the interest rates, the terms, and everything else you might want to…
ByAnngelli Abenes
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A cash-out refinance mortgage allows homeowners to use the value they’ve built up in their house. It means getting a new mortgage bigger than the one you already have, and you get the extra money in cash. This guide will show you all you need to understand about cash-out refinance mortgages in 2024. You’ll learn…
ByAnngelli Abenes
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If you’re considering buying a house and need a loan, getting the lowdown on the main types of loans is super important. Let’s talk about the difference between conventional loans versus FHA loans. People in the United States consider these two main options when they need money to buy a home. Each type of loan…
ByAnngelli Abenes
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Buying a home represents a significant achievement in one’s life that many high school graduates might view as somewhat of an elusive dream, particularly given their limited work experience at this stage. However, armed with the right information and insightful guidance, even those freshly out of high school can skillfully navigate the mortgage process. This…
ByAnngelli Abenes
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Buying foreclosure can be a smart move if you want to own a property for less than its market rate. The key to maximizing this opportunity is pairing it up with the advantages of an FHA 203k renovation loan. This comprehensive guide is designed to help you get familiar with the ins and outs of…
ByAnngelli Abenes
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When it comes to getting home loans, buyers sometimes need extra support to qualify for their dream home. This is exactly when bringing in a non-occupying co-borrower can make a huge difference. If you’re stepping into the housing market for the first time, or even if you’re well-versed in real estate dealings, it’s crucial to…
ByAnngelli Abenes
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Looking for the best Minnesota mortgage lenders for bad credit might seem daunting, but it doesn’t have to be. If you’ve faced rejection because of a low credit score or are just starting to explore your mortgage options, this detailed guide is here to light the way. It’s designed to break down the process…
ByAnngelli Abenes
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Understanding FHA 203k Rehab Loans After Bankruptcy Securing a home loan after experiencing bankruptcy can be challenging. Still, the FHA 203k Rehab Loan provides a viable path for home buyers looking to purchase and renovate a property. This type of loan is particularly beneficial for those who have faced financial hardships but are ready to…
ByAnngelli Abenes
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Mortgage Approval Process on Manual Underwriting: A Comprehensive Guide for 2024 The mortgage approval process can be overwhelming, especially with manual underwriting involved. Unlike automated underwriting, which relies on algorithms, manual underwriting involves a human underwriter meticulously reviewing your financial history and documents. This guide aims to demystify the mortgage approval process on manual underwriting…
ByAnngelli Abenes
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Your All-Inclusive Manual to Getting a Mortgage with Poor Credit in Illinois. Do you fear poor credit could dash your hopes of homeownership in Illinois? Worry no more! This manual will provide a step-by-step approach to securing an Illinois mortgage, even if you have bad credit. We shall review your alternatives, ways to enhance your…
ByAnngelli Abenes
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First-time homebuyers, especially, may be easily overwhelmed by the complexities of purchasing a home. One of the most critical aspects of obtaining a mortgage is grasping the Debt-to-Income (DTI) ratio, for which FHA loans are particularly crucial. For approval or eligibility per AUS (Automated Underwriting System), these FHA DTI Guidelines are important. In this guide,…
BySapna Sharma
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The lending requirements on FHA loans are not the same for all Maryland FHA Lenders. There are two different categories of guidelines that govern FHA loans. These are the HUD agency mortgage guidelines and lender overlays, which are the individual lender requirements that go beyond those of the HUD agency. Many people think lenders who…
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