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ByGustan Cho
Posted on
Cash to Close and Seasoned Funds for Closing: Your 2024 Guide to a Smooth Home Purchase When you’re ready to buy a home, two terms you’ll hear often are cash to close and seasoned funds for closing. These are important steps in the mortgage process, and understanding them will make your journey to homeownership a…
ByAlex Carlucci
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This blog will discuss HUD late payment mortgage guidelines during the Chapter 13 Bankruptcy repayment plan. HUD and VA are the only two mortgage loan programs that allow borrowers in an active Chapter 13 Bankruptcy repayment plan to qualify for an FHA and VA loan. However, the key is to have been timely on all…
ByGustan Cho
Posted on
In this blog, we will cover how to write a letter of explanation to mortgage underwriters. Borrowers planning on applying for home loans or are currently going through the mortgage process will encounter underwriters who will require a letter of explanation for one or more items in question. This is often the case if…
ByGustan Cho
Posted on
This guide covers hard pull credit inquiries by creditors, mortgage lenders’ credit inquiries, and their impact on borrowers’ credit scores. Lenders will do hard-pull credit inquiries for mortgage loan applicants who need to get pre-approved. If you’re rate shopping for a mortgage or auto loan, multiple inquiries within a certain timeframe (often 14–45 days, depending…
ByGustan Cho
Posted on
This guide covers why do lenders request bank statements during the mortgage process. Many mortgage loan applicants wonder why do lenders request bank statements. One of the dozen items mortgage lenders require before starting the mortgage process is 60 days of bank statements. There is a reason why do lenders request bank statements during the…
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