No Mortgage Lender Overlays Approvals On Conventional And FHA Insured Mortgage Loans

I am licensed to originate residential mortgage loans and work with dozens of realtor referral partners.  I get daily inquiries from realtors throughout the country about the specialty products I have to offer their home buyers and many realtors have requested that I write a blog about the mortgage loan program loan programs I have available and the services I provide. Here is the personal service I can offer the following mortgage programs with no mortgage lender overlays:

Mortgage Banker With No Lender Overlays

1. I am available 7 days a week, including holidays, and you can always get a hold of me on my cell at 262-716-8151, email ( or you can visit me at
2. Clients can apply online, 24/7 by going to in the comfort of their own home and clicking the APPLY NOW  icon on top right category section. Pre-approvals are issued 7 days per week.
3. Once mortgage client applies online, I run credit check and can submit credit profile to our Automated Underwriting System for an automated Fannie Mae approval.
4. All calls promptly returned. Available evenings, weekends, and holidays.
5. 100% mortgage approvals after submitting formal mortgage application. I will not submit a mortgage application until I have went over the mortgage case scenario with wholesale lender.
6. If you got turned down by another lender, please contact me. I have closed on many loans that other lenders could not do since other mortgage lenders have internal mortgage overlays.
7. Have access to over 30 wholesale mortgage lenders, many of them that have no mortage lender overlays and can close on mortgage loans with open collections, recent late payments, judgments, tax liens, overdrafts, and recent late payments. Will qualify your home buyer and once fully qualified, you can rest assured that your client’s mortgage loan will close.

FHA Insured Mortgage Loans with No Mortgage Lender Overlays

1. 530 FICO to 580 FICO scores require 10% down payment.
2. 3.5% down payment on FHA loans over 580 FICO credit scores with no mortgage lender overlays.
3. Debt to income ratios up to 56.9%. Non occupied co-borrowers are allowed on FHA loans.
4. Up to 6% seller’s concession allowed on FHA insured mortgage loans to cover buyer’s closing costs and escrows.
5. Open collections, late payments, bank overdrafts, judgments, tax liens, and other prior bad credit allowed. Collections do not have to be repaid.
6. Bankruptcy, Foreclosure, Deed in Lieu of Foreclosure, Short Sales are allowed, however, need to adhere to Fannie Mae lending guidelines concerning mandatory waiting period requirements. One year waiting period after bankruptcy and/or foreclosure, Back to Work Extenuating Circumstances Program, mortgage loans are now available to qualified mortgage loan borrowers.
7. Manual underwrites available.
8. 100% gifts allowed on home purchase by family member.
9. 24 hour mortgage loan underwrites and mortgage approvals.
10. Closings in 14 days if it is a rush file. Most closings are in 30 days or less.
11. No waiting period for borrowers with short sale as long as they were current on their loan until the day of the short sale and evidenced by HUD.

FHA Back to Work Extenuating Circumstances Due To An Economice Event

I now offer the newly created one year waiting period FHA Back to Work Extenuating Circumstance due to an ecoomic event mortgage program  . Mortgage loan borrowers who have had a prior bankruptcy, foreclosure, deed in lieu of foreclosure, and short sale will now qualify after one year waiting period as long as the cause of the bankruptcy, foreclosure, deed in lieu of foreclosure, and short sale was caused by the mortgage loan borrower being unemployed, or underemployed which affected their household income by at least 20% for at least six months prior to their initiation of the bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale.

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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