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FHA Loans for Bad Credit You can totally get an FHA loan even if your credit isn’t perfect—sometimes as low as a 500 score! FHA is super flexible for people who might have had late payments, collections, charge-offs, or other credit issues. It’s a great option if you’ve faced some financial bumps along the way….
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…
Quick Answer: Documents Required for Mortgage Processing and Underwriting To avoid delays and get to closing on time, submit a complete, legible, all-pages-included document package before your loan file goes to underwriting. Most borrowers will need photo ID, proof of income and employment, 60 days of asset statements, debt details, and property paperwork (a purchase…
DSCR mortgage loans, debt-service coverage ratio mortgages, are a no-income verification mortgage loan program. No income verification and documentation are required on DSCR mortgage loans, which benefit self-employed borrowers or real estate investors who do not have a consistent flow of qualified income. DSCR mortgage loans are underwritten based on the subject property, not the…
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…
This blog will discuss how mortgage underwriters calculate property taxes on new construction homes. Property taxes on new construction homes can often affect the homebuyer’s debt-to-income ratio due to being estimated versus an exact number. The exact property taxes on new construction homes are not known until a few years after the development has been…
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…
Deciding whether to go with an FHA loan or a conventional loan in Florida isn’t just about the interest rate you find online. For many borrowers—especially with credit scores in the 620–680 range—the “cheaper” option on paper can end up costing more each month once you factor in mortgage insurance (PMI vs. FHA MIP), loan-level…
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…
Reverse Mortgage Loans: Complete 2026 Guide for Seniors (Age 62+) Thinking about a reverse mortgage? If you’re 62 or older and own a home, a reverse mortgage can let you turn part of your home equity into cash—without required monthly mortgage payments. This guide explains how reverse mortgages work, who qualifies, the pros and cons,…
Thinking about moving up in the mortgage business—whether you’re a newly licensed loan officer, a producing LO ready to lead a team, or an experienced branch manager who wants more control and support? This guide is for you. In the next few minutes, you’ll learn exactly how mortgage branch opportunity careers work at Gustan Cho…
Portfolio Loans for Foreign Nationals (2026) Yes—foreign nationals can buy U.S. real estate without U.S. citizenship, a green card, or a U.S. credit score using portfolio (non-QM) foreign national mortgage programs. These loans are designed for international buyers who may not have a Social Security number or traditional U.S. income documentation. Most foreign national programs…
Jumbo Mortgage Options: Traditional and Non-Prime Solutions for 2026 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…
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…
This blog is a short-cut guide to the HUD 4000.1 FHA Handbook Revised For FHA Loans. The HUD 4000.1 FHA handbook revised for FHA loans is a 900 comprehensive list of mortgage guidelines and requirements for FHA loans. Every HUD agency guidelines about FHA loans can be found on the HUD 4000.1 FHA handbook. Gustan…
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…
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