This Article Is About Buying Home Without Solid Pre-Approval And AUS Findings Buying Home Without Solid Pre-Approval and without Automated Underwriting System findings can be a recipe for disaster. For example, for homebuyers who have a prior Chapter 7 bankruptcy, there is a two-year waiting period for FHA and VA Loans before being eligible for […]
This Article Is About Denied By A Bank For Your Mortgage And Options For Borrowers There should be no reason why mortgage borrowers to be denied after getting pre-approved. The only reason why a pre-approved borrower gets denied for a mortgage loan after pre-approval is because they were not properly qualified in the first place. […]
This Article Is About Avoiding Delays In Home Loan Process & Closing On Time Over 75% of our borrowers at Gustan Cho Associates are folks who either gotten a last-minute loan denial by another lender or are stressing during the mortgage process with their current lender. Avoiding Delays In Home Loan Process is not difficult. […]
This Article Is About Documents Required By Lenders To Close Mortgage On Time Most people dread the thought of providing documents required by lenders. The mortgage process does not have to be stressful. The number one reason for delays in the home loan process is due to borrowers not providing documents required by lenders timely […]
This Article Is About The Role Of The Loan Officer Assistant During The Mortgage Process The mortgage process can be complex. There will be many different people working on your home loan during the mortgage process. The first point of contact when you apply for a mortgage will be the licensed loan officer. The loan […]
Do All Credit Disputes Need To Be Removed During The Mortgage Process? All non-medical credit disputes need to be removed. Medical collections do not have to remove. Non-medical credit disputes do not have to be removed if the total aggregate balance is less than $1,000. All credit disputes that are 24 months or older do not have to be removed. All zero balance non-medical credit disputes do not have to be removed.
This Article Is About NON-QM Mortgage Processing Versus Traditional Home Loans NON-QM Loans are alternative financing mortgage programs. Borrowers who do not meet government and/or conforming mortgage guidelines can now qualify for non-QM loans. NON-QM Loans are not insured by any government agencies. They also do not need to conform to Fannie Mae and/or Freddie […]
This Article Is About Why Are Mortgages Denied And How To Avoid Loan Denial There is no reason why are mortgage denied. The number one and biggest reason why are mortgages denied is due to the loan officer not qualifying the borrower’s correction and issuing a pre-approval letter. Home Buyers and sellers put a lot […]
What Is The Difference Between Mortgage Pre-Approval Versus Pre-Qualification By Lenders? Homebuyers should not purchase a home without a solid pre-approval. A pre-qualification is only an interview with the loan officer and a sheet that just states that the borrower is qualified but not pre-approved.
You cannot dispute derogatory credit tradelines during the mortgage process unless they are exempt from retraction. Any non-exempt credit disputes will suspend and halt the mortgage process.
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