Search Results for: va lender overlays

Videos | Charge Off Accounts | Collection Accounts | Qualifying & Getting Pre-approved | Re-Establishing Credit | VA Loans

VA Loans With Bad Credit in Tennessee
ByGustan Cho, NMLS 873293 August 3, 2026August 4, 2026

VA loans with bad credit in Tennessee may be available, even when a borrower has a low credit score. The Department of Veterans Affairs does not set one universal minimum credit score for every VA loan. However, lenders may apply their own credit standards and must evaluate the borrower’s complete financial picture. This review includes…

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Mortgage Processing And Underwriting | Conditional Loan Approval | Videos

Conditional Mortgage Approval Delays: Causes and How to Avoid Them
ByGustan Cho, NMLS 873293 July 31, 2026August 3, 2026

Conditional mortgage approval means an underwriter has reviewed your loan file but still needs specific documents, explanations, or third-party items before granting final approval. Conditional mortgage approval delays often result from incomplete bank statements, unclear income, employment verification, large deposits, new credit, appraisal issues, title work, or homeowners’ insurance. To avoid delays, submit all requested…

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VA Loans | High Debt To Income Ratio | Home Mortgages | Income And Employment | Manual Underwriting | Mortgage Lender Overlays | Mortgage Processing And Underwriting | Videos

VA Loan Residual Income Guidelines for Homebuyers
ByTanhia Romero July 31, 2026August 10, 2026

Lenders can offer 100% with no mortgage insurance at competitive low mortgage rates on VA loans due to the government guarantee against loss or foreclosure on VA loans. VA loans have no maximum debt-to-income ratio cap on VA loans.

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FHA Loans | Videos

New Jersey FHA Lenders: FHA Loan Requirements and Options
ByJohn Strange, NMLS: 230932 July 30, 2026August 3, 2026

In New Jersey, you can qualify for an FHA loan with a 580 credit score or higher and a down payment of just 3.5%. If your score is between 500 and 579, you may still qualify with a 10% down payment. Approval also depends on your income, employment, debt-to-income ratio, credit history, funds to close,…

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Bad Credit Mortgages

Do All Lenders Have The Same Guidelines? Avoid Denial
ByGustan Cho, NMLS 873293 July 30, 2026July 31, 2026

Do all mortgage lenders have the same guidelines? No, mortgage lenders do not all have the same guidelines. FHA, VA, USDA, Fannie Mae, and Freddie Mac establish program requirements, but lenders may add stricter rules called lender overlays. One lender might require a higher credit score, lower debt-to-income ratio, more reserves, or no manual underwriting….

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Manual Underwriting | Compensating Factors | FHA Loans | High Debt To Income Ratio | VA Loans | Verification Of Rent | Videos

DTI Manual Underwriting Guidelines on FHA and VA Loans
ByTanhia Romero July 30, 2026August 31, 2026

DTI Manual Underwriting Guidelines on FHA and VA Loans If a computer system says “no” to your mortgage because your debt-to-income ratio (DTI) is high, your income is hard to document, or your credit history is unique, you may still qualify through manual underwriting. DTI Manual underwriting guidelines are when a real underwriter reviews your…

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Home Mortgages | Conditional Loan Approval | Mortgage Processing And Underwriting | Qualifying & Getting Pre-approved | Videos

How Is a Mortgage Pre-Approval Issued By Lenders
ByGustan Cho, NMLS 873293 July 27, 2026September 8, 2026

This guide covers mortgage pre-approval issued by underwriters. Over 80% of our borrowers at Gustan Cho Associates are folks who either got a last-minute mortgage loan denial or are stressed during their mortgage process with their current lender. Dale Elenteny, NMLS 904444, a senior loan officer at Gustan Cho Associates, explains the reasons for a…

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Mortgage Guide to FHA, VA, USDA and Conventional Loans
ByGustan Cho, NMLS 873293 July 24, 2026September 24, 2026

Mortgage programs differ in their down payment, credit, income, property, occupancy, and mortgage insurance requirements. The right loan depends on your complete financial profile—not simply which program offers the lowest advertised interest rate. FHA loans may help borrowers with lower credit scores or limited savings. VA loans can offer eligible service members and veterans zero-down…

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Mortgage Processing And Underwriting | Conditional Loan Approval | Qualifying & Getting Pre-approved | Videos

Fully Underwritten TBD Mortgage Approval As Pre-Approvals
ByGustan Cho, NMLS 873293 July 23, 2026July 23, 2026

In this blog, we will cover and discuss getting a fully underwritten TBD mortgage approval as pre-approvals. Fully Underwritten TBD Mortgage Approval on home loans is geared towards borrowers who may or may not meet agency mortgage guidelines. In most cases, loan officers will issue pre-approval letters if they are sure borrowers will definitely get…

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Home Mortgages | Mortgage Rates | Videos

Direct Versus Correspondent Lender: Key Differences
ByAlex Carlucci, NMLS: 229891 July 16, 2026July 20, 2026

Direct and correspondent lenders can both originate, process, close, and fund mortgage loans. A direct lender typically funds the mortgage in its own name and may keep the loan, sell it to an investor, or transfer the servicing after closing. A correspondent lender also closes and funds the loan in its own name, but usually…

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Videos | Non-Occupant Co-Borrowers | VA Loans

VA Loan Co-Borrower Guidelines: Who Can Apply With a Veteran?
ByDale Elenteny, NMLS: 904444 July 10, 2026August 20, 2026

A veteran may apply for a VA loan with a spouse, another eligible Veteran, or, in some cases, a non-Veteran such as a parent, child, sibling, fiancé, or friend. A non-veteran spouse is usually the simplest co-borrower arrangement. Two eligible veterans may also apply together and use their VA entitlement toward the same purchase. When…

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VA Loans | Manual Underwriting | Videos

VA Mortgage Loans in Arizona Eligibility Requirements
ByDale Elenteny, NMLS: 904444 July 6, 2026September 17, 2026

We will be covering qualifying and getting approved for VA mortgage loans in Arizona. Arizona is one of the most migrated states in the nation. Tens of thousands of families are moving to the state due to the great economy, low taxes, affordable housing, and low cost of living. Thousands of Californians are moving to…

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Appraisal | FHA Loans | Mortgage Processing And Underwriting | Qualifying & Getting Pre-approved | Real Estate Topic | Videos

FHA Appraisal Transfer to a New Mortgage Lender
ByGustan Cho, NMLS 873293 July 5, 2026September 17, 2026

In this guide, we will discuss and cover the FHA appraisal transfer from your old lender to a new mortgage lender. FHA loans are the most popular loan program in the United States. The United States Department of Housing and Urban Development (HUD) is the parent of the Federal Housing Administration (FHA). Dale Elenteny, a…

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Bad Credit Mortgages | Credit Scores | Qualifying & Getting Pre-approved | Re-Establishing Credit | Videos

Lowest Credit Score Allowed For Mortgage Approvals
ByGustan Cho, NMLS 873293 June 30, 2026August 19, 2026

Many homebuyers worry that a low credit score will automatically stop them from qualifying for a home loan. The lowest credit score allowed for mortgage approvals can vary by loan program, and some options may be available even when your credit is less than perfect. Meeting a minimum score does not guarantee approval. Mortgage lenders…

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Automated Underwriting System | FHA Loans | VA Loans | Videos

What is DU Automated Approval per AUS FINDINGS
ByGustan Cho, NMLS 873293 June 26, 2026August 18, 2026

In this blog, we will cover and discuss what is DU automated approval on the automated underwriting system. A sound mortgage loan approval? My Loan Officer told me I had a DU Automated Approval, what is that? There are two types of automated underwriting system approvals. Fannie Mae Desktop Underwriter also referred to as DU…

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Mortgage Lender Overlays | Automated Underwriting System | Home Mortgages | Manual Underwriting | Mortgage Processing And Underwriting | Videos

Overlays in Underwriting by Mortgage Lenders
ByMike Gracz, NMLS: 1160212 June 26, 2026June 29, 2026

This blog is about overlays in underwriting on government and conventional loans. The mortgage industry went through a major overhaul after the subprime crisis. Mortgage companies have two different types of guidelines. Dale Elenteny, a senior mortgage loan originator and Director of Correspondent Lending at Gustan Cho Associates says the following: HUD, VA, and USDA…

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Automated Underwriting System | FHA Loans | Home Mortgages | Manual Underwriting | Mortgage Denial | Mortgage Lender Overlays | Mortgage Processing And Underwriting | Videos

Applying for Mortgage with Another Lender When Denied
ByGustan Cho, NMLS 873293 June 25, 2026June 29, 2026

In this article, we will cover and discuss applying for mortgage with another lender when denied by the original lender. The team at Gustan Cho Associates gets countless calls from borrowers asking for advice on applying for mortgage with another lender after denied by their first lender. Applying for mortgage with another lender after denied…

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Bad Credit Mortgages | FHA Loans | Mortgage With Late Payments | Qualifying & Getting Pre-approved | Re-Establishing Credit | Videos

Home Purchase with Bad Credit with Lender with No Overlays
ByGustan Cho, NMLS 873293 June 23, 2026June 24, 2026

Home purchase with bad credit is possible, but the path depends on your credit score, recent payment history, down payment, loan program, and the type of credit issues on your report. A borrower with a 500 credit score may still qualify for an FHA loan with a larger down payment. A borrower with a 580…

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Bad Credit Mortgages | Credit Scores | Home Purchase | video

Buying a Home with Bad Credit in Nevada with under 600 FICO
ByMike Gracz, NMLS: 1160212 June 23, 2026August 27, 2026

In this article, we will delve into the process of buying a home with bad credit in Nevada, specifically for individuals with credit scores below 600. The team at Gustan Cho Associates specializes in guiding homebuyers through purchasing a home with bad credit in Nevada. Over 60% of our clients come to us after being…

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Home Mortgages | Conventional Loans | FHA Loans | Mortgage Lender Overlays | NON-QM Loans | USDA Loans | VA Loans | Videos

Mortgage Loan Programs with No Overlays and 30-Day Closing
ByGustan Cho, NMLS 873293 June 22, 2026September 3, 2026

In this guide, we will cover and discuss mortgage loan programs with no overlays and closing in 30 days. In addition to government and conventional loans, there are hundreds of non-QM and alternative lending programs that benefit all types of borrowers. The majority of lenders have their own overlays. There are not many lenders that…

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Mortgage Processing And Underwriting | Clear To Close | Conditional Loan Approval | Videos

Mortgage Approval Conditions: What They Mean Before Clear to Close
ByGustan Cho, NMLS 873293 June 17, 2026June 18, 2026

The initial loan approval from the mortgage loan approval lists a set of conditions from the mortgage loan underwriter. Once the loan conditions are satisfied, the mortgage underwriter will issue will issue a clear to close.

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Bad Credit Mortgages | Manual Underwriting | Mortgage After Bankruptcy and Foreclosure | Mortgage With Late Payments | Qualifying & Getting Pre-approved | Re-Establishing Credit | VA Loans | video | Videos

Recent Late Payment VA Guidelines on VA Home Loans
ByGustan Cho, NMLS 873293 June 13, 2026August 18, 2026

VA home loans are ideal for primary residences, offering 100% financing with no down payment required for those who qualify, including active and retired U.S. Armed Forces members and eligible surviving spouses. The key to accessing these benefits is obtaining a Certificate of Eligibility (COE), which confirms eligibility for the VA’s loan program. The VA…

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