This guide covers what is a conventional mortgage. One of the frequently asked question from homebuyers is what is a conventional mortgage? What is the difference between a conventional mortgage and a government-backed loan. A conventional mortgage is a type of home loan that is not insured or guaranteed by any government entity, such as…
Can an individual with a credit score of 500 be eligible for a VA loan? Absolutely. The Veterans Administration (VA) oversees and establishes guidelines for VA loans, and there’s no mandated minimum credit score requirement. If the borrower can receive approve/eligible through the automated underwriting system (AUS), they can secure a VA loan, even with…
If you’re trying to buy home loans with no credit score, you’re not alone. First-time buyers, cash-only savers, new immigrants, and people who paid off all their debt often have no score—and that can confuse automated mortgage systems. Here’s the good news: you can still qualify for a mortgage with no credit score, as long…
Complying with Florida FHA loan requirements is one of the most flexible ways to buy a primary residence—especially if your credit isn’t perfect. In this guide, you’ll learn the current FHA minimums for credit score, down payment, debt-to-income (DTI), mortgage insurance, and common approval roadblocks, plus practical tips to improve your chances of getting an…
FHA Mortgage Guidelines on Collection Accounts: How to Qualify for a Home Loan in 2026 Buying a home with collection accounts on your credit report? You’re not alone. Many borrowers worry that old debts will stop them from qualifying for a mortgage. But here’s the good news: Bill Burg, a dually licensed mortgage loan originator…
Non-QM (Non-Qualified Mortgage) loans are alternative home loans for borrowers who don’t meet the requirements of FHA, VA, USDA, or conventional “agency” programs—often because of self-employment income, recent credit events, high loan amounts, complex income, or non-traditional documentation. Unlike government and conventional loans, Non-QM guidelines are not uniform. Each wholesale Non-QM investor sets its own…
Your credit score affects three things that matter most when you buy or refinance a home: Whether you get approved How much can you borrow What your rate and monthly payment look like But your credit score isn’t the only piece of the puzzle. Lenders also look at your down payment, debt-to-income ratio (DTI), cash…
Jumbo Mortgage Options: Traditional and Non-Prime Solutions A jumbo mortgage is a type of home loan that’s larger than the conforming loan limit set by the FHFA for 2026. In most U.S. counties, the 2026 one-unit limit is $832,750. In certain high-cost areas, the limit can be as high as $1,249,125. If you’re buying a…
Can You Get a Conventional Loan After Foreclosure? Yes—many buyers can qualify for a conventional (Fannie Mae/Freddie Mac) loan after foreclosure, but you’ll usually need to meet a required waiting period first (most often 7 years from the completed/recorded foreclosure date). In some cases—such as hardship situations or when the mortgage was included in bankruptcy—the…
Can You Get a Conventional Loan with Bad Credit in 2026? Yes—you can get a conventional (Fannie Mae/Freddie Mac) loan with “bad credit,” but you generally need at least a 620 credit score and an Approve/Eligible result through automated underwriting (Desktop Underwriter or Loan Product Advisor). The closer your score is to 740, the better…
Mortgage Loan After Foreclosure And Short Sale Guidelines Many people believe that having a foreclosure or a short sale means they can never buy a home again. The truth is, you can get another mortgage if you wait the right amount of time, repair your credit, and follow the latest loan requirements. Each loan type…
Quick Answer: Why Rent When You Can Own a Home? If you’re paying rent on time every month, you may be closer to homeownership than you think. Buying can turn a monthly payment into equity, stability, and long-term wealth—often with low down payment options and down payment assistance. Your best path depends on your income,…
Quick Answer: Non-QM Home Loan Guidelines Non-QM (non-qualified) mortgages are flexible home loans that don’t follow standard FHA/VA/USDA/Fannie Mae/Freddie Mac rules. They’re built for borrowers with real-world situations—self-employed income, high DTI, recent credit events, or investment properties—using alternative documentation like bank statements, DSCR, or asset-based qualifying. Guidelines vary by program and lender, so the best…
Buying a home or refinancing should feel exciting—not stressful. Yet for many borrowers, the biggest worry is how long it takes to close a mortgage. At most lenders, the average time is still 30–45 days, which feels like forever when trying to move into your new home or lock in a lower rate. At Gustan…
Quick Answer: Pennsylvania Mortgage Calculator The Pennsylvania Mortgage Calculator from Gustan Cho Associates estimates your full monthly payment, not just principal and interest. It factors in PITI (principal, interest, taxes, and insurance), PMI or FHA MIP, HOA dues, and your debt-to-income (DTI) to help you budget and understand your approval readiness before you apply. What…
Last updated: February 4, 2026 Mortgage and underwriting guidelines can change. The examples in this guide are for education and may vary by lender, AUS findings, and loan type. For the most current official rules, see HUD FHA guidance, the VA Lender’s Handbook, and the Fannie Mae/Freddie Mac selling guides. Yes, You Can Buy a…
Quick Answer: Mortgage Escrow Account for Purchase and Refinance Ever wonder why your monthly mortgage payment feels higher than expected? Mortgage escrow accounts are often the reason. Your lender collects money monthly for property taxes and homeowners’ insurance, then pays those bills when due. Escrows are required on FHA/VA/USDA loans and common on conventional loans…
First-time homebuyers need to hire an experienced realtor who is not just accessible 24/7 but who knows the area where the subject property is located.
Quick Answer: Statute of Limitations on Debt and Judgments The statute of limitations on debt is the time limit a creditor or collector has to sue you for an unpaid debt. After it expires, they’re generally time-barred from suing. However, the debt may still appear on your credit report, and collectors may still contact you….
Quick Answer (who this is for + what “best rate” really means) This guide is for California homebuyers and homeowners refinancing who want to save real money by shopping for the best mortgage rates the right way. In a high-balance market like California, the “best rate” isn’t just the lowest number in an ad—it’s the…
Quick Answer Credit during the mortgage process affects your approval in three ways: (1) eligibility for certain programs, (2) interest rate and pricing, and (3) how underwriting views your debts and payment history. Protect your credit from pre-approval through closing by avoiding new debt, late payments, and credit disputes—then work with a lender who follows…
Florida homeowners are saving thousands in 2026 by refinancing—don’t miss your chance to do the same. You can lower your monthly payment, remove mortgage insurance, switch you into a fixed rate, or let you tap equity for cash when you refinance a mortgage in Florida. The best refinance depends on your current loan type (FHA,…
CALL NOW 