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FHA Investor Overlays: What They Are and How to Avoid Them Are you trying to get an FHA loan but keep getting turned down—even though you meet the basic requirements? The problem might not be you—it might be the FHA investor overlays added by your lender. In this post, we’ll explain exactly what FHA investor…
Active and/or retired members of the United States Armed Services and eligible surviving spouses of eligible veterans in Kentucky can qualify for VA loans Kentucky with no money down, credit scores down to 500 FICO, less than perfect credit, and prior credit issues. Navigate Kentucky VA loans, including eligibility requirements, benefits, and guidelines, and make…
In this article, we will cover and discuss qualifying for FHA loans with 580 FICO in West Virginia and getting mortgage loan approval. Not all FHA Mortgage Lenders have the same lending guidelines on FHA loans with 580 FICO in West Virginia. Most lenders in West Virginia have mortgage overlays which are additional guidelines that…
The bankruptcy manual underwriting guidelines on FHA and VA loans are covered in this guide, which focuses on the exclusive mortgage programs that permit manual underwriting. Manual underwriting occurs when a borrower fails to receive an approve/eligible status via the automated underwriting system and necessitates human underwriter assessment. Dale Elenteny is a loan officer at…
Mortgage borrowers eligible for VA loans can use the VA DTI mortgage calculator, powered by Gustan Cho Associates, to calculate their debt-to-income ratio. The Veterans Administration, or VA, does not have a specific debt-to-income ratio cap on VA loans. Borrowers can get an approve/eligible per automated underwriting system (AUS) with over 65% DTI and lower…
VA Loan Eligibility Requirements in Vermont (2025 Update) Buying a home in Vermont is more than just owning property—it’s about creating stability after years of service. Whether you’re stationed in Burlington, settling in Rutland, or retiring near the Green Mountains, the VA home loan program can make homeownership easier and more affordable than ever. The…
FHA Loan Denied for Low Credit Scores in Ohio: Why It Happens and How to Get Approved If your FHA loan was denied for low credit scores in Ohio, you are not alone. Many homebuyers in Ohio face this problem yearly — they receive an “Approve/Eligible” through the automated underwriting system (AUS), only to be…
This blog will cover the FAQ on VA loans, eligibility requirements, and VA mortgage loan options for first-time homebuyers. There are many FAQs on VA loans regarding qualification, credit, eligibility requirements, and the types of VA loan programs that our viewers often inquire about. VA loans are the best mortgage loan program available in the United…
If you are thinking about buying a home or refinancing your current mortgage, you may have heard about FHA loans. FHA loans are very popular mortgage options, especially for first-time homebuyers. But there’s one thing that can trip you up during the process: FHA lender overlays. In this guide, we’ll break down what FHA lender…
What Lenders Look for in Bank Statements: 2025 Guide for Mortgage Approval Getting a mortgage can be stressful, especially when lenders ask for your bank statements. A lot of people wonder what exactly lenders are looking for in those statements and why it’s such a big deal. The truth is, bank statements give lenders a…
Quick Take: 2025 Mortgage Reserve Requirements FHA: 0–1 month (manual = 1, multi-unit = 3–6) VA: 0 months (manual = 1–2, multi-unit = up to 6) Conventional: 0 months for single-family, 2–6 months for second homes, 6+ for investments Jumbo: 6–12 months, depending on loan size/credit Non-QM: 3–12 months depending on program If you’re planning…
Introduction: Your Credit Score Is the Key to Homeownership Buying a home is one of the most significant financial steps you’ll ever take. But before you can get the keys, lenders want to know one thing: What’s your FICO score? Your FICO score determines if you qualify, how much you’ll pay each month, and even…
How to Rebuild Credit for Mortgage Approval: A Simple Step-by-Step Guide If you’re dreaming of owning a home but your credit score is low, you’re not alone. Many homebuyers today need to rebuild credit for mortgage approval. The good news? You can raise your score and get approved faster than you think. At Gustan Cho…
VA DTI Manual Underwriting Guidelines: How to Qualify for a VA Loan with High DTI in 2025 For veterans or active-duty service members aiming to purchase a home, concerns about a high debt-to-income (DTI) ratio may raise questions regarding eligibility for a VA loan. This situation often prompts individuals to seek guidance on their options….
In this blog, we will cover and discuss the top-rated five-star Washington DC lenders for traditional and non-QM mortgages who have the best mortgage rates. Washington, DC has one of the highest home prices in the nation. Whether you have great credit, bad credit, or are seeking unique non-QM and alternative financing loans with multiple…
This article discusses the revised VA guidelines regarding charge-offs and collections. According to the VA Guidelines on Charge-Offs and Collections, veteran borrowers may still be eligible for VA home loans even if they have outstanding charge-offs and collections accounts, provided they receive an approved/eligible status from the automated underwriting system (AUS). VA guidelines on charge-offs…
Your Complete Guide to VA Loan With Poor Credit in 2025 Are you a veteran wondering if you can get a VA loan with poor credit? The answer is a resounding YES! Despite having less-than-perfect credit, many veterans can still qualify for a VA loan, one of the best mortgage programs available in the U.S….
This blog will discuss qualifying for a VA loan during Chapter 13 Bankruptcy mortgage guidelines. Many of our clients at Gustan Cho Associates are told they do not qualify for a VA loan during Chapter 13 Bankruptcy. Many homebuyers are told they can’t qualify for a VA loan during Chapter 13 Bankruptcy. You need to…
VA Refinance Guidelines encompass two distinct mortgage processes: the VA streamline refinance (IRRRL), and the VA cash-out refinance. Gustan Cho Associates specializes in assisting homeowners with rate and term VA streamline refinances and cash-out VA refinance mortgages. Dale Elenteny, a senior mortgage loan originator at Gustan Cho Associates says the following about VA refinance guidelines…
This article will discuss the buy-out cash-out refinance option for VA Chapter 13 Bankruptcy. A VA Chapter 13 Bankruptcy buy-out can be accomplished using a cash-out refinance on VA home loans while under a Chapter 13 Bankruptcy repayment plan. The widespread financial hardship caused by the coronavirus pandemic outbreak in February 2020 has significantly affected…
Getting a mortgage in 2025 doesn’t need to be a hassle. One of the quickest ways to lock in your financing is by getting approved through the Fannie Mae Automated Underwriting System—often referred to as DU or Desktop Underwriter. This guide will cover everything you need to know about the Fannie Mae Automated Underwriting System…
In this article, we will cover and discuss helping your realtor and lender help you with a home purchase. I know sometimes it can be hard finding the right Realtor. I also know that once you have made that decision, there are some tips that can make your Home Buying Partnership more successful. Helping your…
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