Mortgage Guidelines After Bankruptcy and Foreclosure
| | | | | |

Mortgage Guidelines After Bankruptcy and Foreclosure

ByGustan Cho Posted on

Mortgage Guidelines After Bankruptcy and Foreclosure in 2024 If you’ve been through bankruptcy or foreclosure, you might feel like owning a home again is out of reach. The good news? It’s not! It’s possible to secure a mortgage even after experiencing bankruptcy and foreclosure; we’re here to guide you through the process. With the correct…

FHA Chapter 13 Bankruptcy Guidelines
| | | | |

FHA Chapter 13 Bankruptcy Guidelines

ByGustan Cho Posted on

FHA Chapter 13 Bankruptcy Guidelines allow homebuyers and homeowners to qualify for FHA loans for home purchases and refinance during and after Chapter 13 Bankruptcy. FHA and VA loans are the only two loan programs allowing borrowers to qualify for a mortgage during the Chapter 13 Bankruptcy repayment plan. Dustin Dumestre, a senior loan officer…

HUD DTI Guidelines on Manual vs AUS Findings
|

HUD DTI Guidelines on Manual vs AUS Findings on FHA Loans

ByAnngelli Abenes Posted on

HUD DTI Guidelines on Manual vs AUS Findings: What You Need to Know for 2024 When buying a home with an FHA loan, understanding your debt-to-income ratio (DTI) is crucial. Knowing how your DTI is assessed can make all the difference in getting approved if you are a first-time homebuyer or looking to refinance. In…

FHA Chapter 13 Manual Underwriting
| | |

Simple Steps for FHA Chapter 13 Manual Underwriting

ByAnngelli Abenes Posted on

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…

Best Minnesota Mortgage Lenders For Bad Credit
| | | | | |

Best Minnesota Mortgage Lenders For Bad Credit in 2024

ByAnngelli Abenes Posted on

  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…

Mortgage Approval Process On Manual Underwriting
| | | |

Mortgage Approval Process On Manual Underwriting

ByAnngelli Abenes Posted on

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…

VA TBD Manual Underwriting
| | |

VA TBD Manual Underwriting Guidelines On Pre-Approvals

ByMike Gracz Posted on

This article is about VA TBD Manual Underwriting Mortgage Guidelines On Pre-Approvals VA TBD Manual Underwriting Mortgage Process. Gustan Cho Associates are excited to re-introduce our TBD underwriting process. We are now able to send applications that require a manual underwrite to our underwriting staff in advance. Receiving a pre-approval from an underwriter will help…

VA Chapter 13 Bankruptcy Buy-Out
| | |

VA Chapter 13 Bankruptcy Buy-Out Cash-Out Refinance

ByAlex Carlucci Posted on

This article will discuss the buy-out cash-out refinance option for VA Chapter 13 Bankruptcy. A VA Chapter 13 Bankruptcy buy-out can be accomplished using a cash-out refinance on VA home loans while under a Chapter 13 Bankruptcy repayment plan. The widespread financial hardship caused by the coronavirus pandemic outbreak in February 2020 has significantly affected…

Layered Risk In Manual Underwriting
| |

What Factors Are Considered Layered Risk In Manual Underwriting

ByAnngelli Abenes Posted on

In this blog, we will be discussing the factors that are considered layered risks in manual underwriting. FHA and VA loans are the two primary loan programs that permit manual underwriting. When a VA or FHA loan receives a refer/eligible finding on the automated underwriting system (AUS), the application can still proceed with manual underwriting….

FHA AUS Approval Versus Manual Underwriting
| | |

FHA AUS Approval Versus Manual Underwriting On FHA Loans

ByGustan Cho Posted on

This Article Is About FHA AUS Approval Versus Manual Underwriting On FHA Loans  HUD, the parent of the Federal Housing Administration (FHA) has recently changed its algorithms on the Automated Underwriting System (AUS) to make harder to get an approve/eligible per AUS on FHA Loans. This only applies for borrowers with credit scores of under…

HUD FHA 203k Loans Manual Underwriting Guidelines
| |

HUD FHA 203k Loans Manual Underwriting Guidelines

ByPeter Arcuri Posted on

This guide covers HUD FHA 203k loans manual underwriting guidelines on renovation loans. HUD FHA 203k loans manual underwriting guidelines allow manual underwriting on FHA loans. Most lenders do not allow manual underwriting on FHA 203k loans . Lenders can have higher lending requirements above and beyond the minimum agency mortgage guidelines of HUD. Lenders…

Manual Underwriting With Extenuating Circumstances
| | | |

Manual Underwriting With Extenuating Circumstances

ByAlex Carlucci Posted on

In this article, we will be discussing and covering manual underwriting with extenuating circumstances and going over some common case scenarios. We will go over some of the recent manual underwriting with extenuating circumstances success stories at Gustan Cho Associates. Many of our clients contact us with general questions surrounding manually underwritten mortgage loans. The…

Manual Downgrade From AUS Approval
| | |

Manual Downgrade From AUS Approval on FHA Loans

ByAnngelli Abenes Posted on

In this blog, we will discuss and cover the manual downgrade from AUS approval on FHA loans. Manual Downgrade From AUS Approval is sometimes required by lenders who think the FHA loan is too marginal. For example, if a borrower with a credit score of 580 and higher debt-to-income ratios gets an approve/eligible per automated…

VA AUS Approval
| |

VA AUS Approval With Low Credit Scores and High DTI

ByGustan Cho Posted on

In this article, we will discuss VA AUS approval versus manual underwriting on VA loans. VA loans are the best loan program for owner-occupant home buyers. The Department of Veterans Affairs, The VA, is the government agency that insures VA Loans to private lenders who originate and fund VA loans. The Veterans Administration does not…

HUD Waiting Period Guidelines After Chapter 13
| | |

HUD Waiting Period Guidelines After Chapter 13 on FHA Loans

ByGustan Cho Posted on

In this blog, we will discuss and cover HUD waiting period guidelines after Chapter 13 on FHA loans. Why is it many lenders say there is a one or two-year waiting period after Chapter 13 discharge date? This is what many home buyers who are in a Chapter 13 Bankruptcy Repayment Plan want to know….

Home Loan With No Credit
| | |

How to Get a Home Loan With No Credit

ByAlex Carlucci Posted on

Many people have no credit score. This can make getting a mortgage to buy a home harder. However, it’s not impossible. You can re-establish credit after bankruptcy or other serious credit problems. And if you have no credit score at all, lenders can approve you with a non-traditional credit report.

VA Manual Underwrite Downgrade
| |

AUS-Approval To VA Manual Underwrite Downgrade

ByMike Gracz Posted on

When does an automated underwriting system approved file get downgraded to a VA manual underwrite downgrade on VA loans happen? If you are following Gustan Cho Associates, you know we are experts in VA mortgage guidelines. We do our best to help as many of our Nation’s veterans as possible. The team at Gustan Cho…

FHA Manual Underwriting Mortgage Guidelines
| | | |

FHA Manual Underwriting Mortgage Guidelines

ByGustan Cho Posted on

This blog will discuss and cover FHA manual underwriting mortgage guidelines and requirements. We will explain the key points of the FHA manual underwriting mortgage lending guidelines and the importance of compensating factors. FHA and VA loans are the only two home mortgage programs that allow manual underwrite. FHA manual underwriting mortgage guidelines require timely…