Qualifying For FHA Loan During Chapter 13 Bankruptcy
In this article, we’ll explore the process of Qualifying For FHA Loan During Chapter 13 Bankruptcy. Homebuyers can secure an…
VA Derogatory Credit Mortgage Guidelines on VA Loans
This guide covers VA derogatory credit mortgage guidelines on VA loans. VA derogatory credit mortgage guidelines on VA loans are…
Mortgage Processing And Underwriting | Compensating Factors | FHA Loans | Manual Underwriting | Mortgage Lender Overlays | Verification Of Rent | Videos
Revised FHA Total Scorecard Underwriting Guidelines
This blog will cover the FHA Total Scorecard and how it works. The United States Department of Housing and Urban…
Understanding FHA Mortgage Rates on Purchase and Refinance
This guide covers understanding FHA mortgage rates on purchase and refinance transactions. FHA loans are the most popular mortgage program…
Automated Underwriting System Findings On Home Mortgages
In this blog, we will cover and discuss the automated underwriting system approval, which is also referred to as AUS…
Bad Credit Mortgages | Charge Off Accounts | Collection Accounts | Credit Scores | FHA Loans | Mortgage Rates | Qualifying & Getting Pre-approved | Videos
Shopping For Mortgage With Poor Credit and Low Credit Scores
In this blog, we will discuss and cover shopping for mortgage with poor credit and low credit scores. Shopping for…
Videos | FHA Loans | Fix-and-Flip Mortgage Loans | High-Balance Mortgage Loans | Jumbo Loans | Manufactured Homes | Muti-Family Investment | NON-QM Loans | One-Time Close Construction Loans | USDA Loans | VA Loans
Types of Mortgage Loan Programs For Homebuyers
This guide covers the types of mortgage loan programs for homebuyers. There are several types of mortgage loan programs. The…
Automated Approval By The Automated Underwriting System
In this blog, we will cover and discuss the automated approval by the automated underwriting system. It is key to…
Mortgage After Bankruptcy and Foreclosure | Automated Underwriting System | Conventional Loans | FHA Loans | Videos
Conventional Loan After Chapter 7 Bankruptcy Mortgage Guidelines
There’s a common misconception that only those with excellent credit scores can secure a conventional loan, while FHA loans are…
Chapter 11 Bankruptcy Guidelines on FHA and VA Loans
What is the waiting period to get a home loan after filing Chapter 11 bankruptcy?
FHA allows mortgage eligibility after 12 months of on-time payments if the bankruptcy trustee approves, and no waiting period after discharge.
VA home loans are allowed after 12 months of on-time payments and trustee approval, and no waiting period after discharge.
Conforming (Fannie Mae and Freddie Mac) lenders require a two-year waiting period after Chapter 11 discharge, and a four-year wait after Chapter 11 dismissal.
Mortgage applications after recent bankruptcy filings may require manual underwriting, which can be stricter than automated underwriting.
Cashback at Closing on VA Loans Mortgage Lending Guidelines
This blog addresses the topic of obtaining cashback when closing on VA loans. We’ve received numerous inquiries in recent…
FHA Work History Guidelines on Non-Traditional Jobs and Gaps
We aim to examine the FHA Work History Guidelines in this blog post and explain how they are relevant to…
Buying a Home In Tennessee With Bad Credit and Low FICO
HUD oversees the Federal Housing Administration (FHA) and helps homebuyers in buying a home in Tennessee with bad credit and…
Debt-To-Income Ratio For Conventional Loan Guidelines
This guide covers the debt-to-income ratio for conventional loan guidelines. A conventional loan is any mortgage loan not insured or…
Videos | Bad Credit Mortgages | Mortgage After Bankruptcy and Foreclosure | Mortgage With Late Payments | NON-QM Loans | Re-Establishing Credit
Mortgage With Recent Derogatory Credit in the Past 12 Months
In this article, we will cover and discuss qualifying for a mortgage with recent derogatory credit with our non-QM loan…
Manual Underwriting During Chapter 13 Mortgage Process
In this article, we will discuss and cover manual underwriting during Chapter 13 mortgage process. Homebuyers can qualify for an…
HUD FHA 203k Loans Manual Underwriting Guidelines
This guide covers HUD FHA 203k loans manual underwriting guidelines on renovation loans. HUD FHA 203k loans manual underwriting guidelines…
Income And Employment | No-Ratio Mortgage Loans | NON-QM Loans | Qualifying & Getting Pre-approved | Videos
1099-Income Versus W-2 Income Mortgage Guidelines
This article will cover 1099-income versus W-2 income mortgage lending guidelines. Regarding traditional government and conventional loans, more scrutiny is…
Buying House While In Chapter 13 Bankruptcy
This blog post will explore Buying House While In Chapter 13 Bankruptcy. Chapter 13 Bankruptcy involves a structured five-year repayment…
Manual Underwriting With Late Payments Mortgage Guidelines
Can You Qualify For Manual Underwriting With Late Payments? VA and FHA allow manual underwriting for borrowers who cannot get an approve/eligible per automated underwriting system. Manual underwriting guidelines require timely payments in the past 24 months. However, Gustan Cho Associates can approve manual underwriting with late payments in the past 24 months if the borrower had extenuating circumstances beyond their control. This is more so on VA loans versus FHA loans.
How Underwriters Qualify Income To Approve Mortgage Loans
This guide covers how underwriters qualify income to approve mortgage loans. Many mortgage loan applicants do not have the role…
