This guide covers the VA credit dispute guidelines on VA mortgage loans. VA loans are the best loan program in the U.S. The Department of Veterans Affairs created and launched VA Home Loans to reward our members of the United States Military in becoming homeowners. Active and retired members of the U.S. Armed Services with…
The lending requirements on FHA loans are not the same for all Maryland FHA Lenders. There are two different categories of guidelines that govern FHA loans. These are the HUD agency mortgage guidelines and lender overlays, which are the individual lender requirements that go beyond those of the HUD agency. Many people think lenders who…
In this blog, we will discuss and cover bad credit mortgage lenders in Rhode Island for borrowers with bad credit and credit scores down to 500 FICO. Not all lenders in Rhode Island are the same. They may have the same loan programs but different guidelines. Many Rhode Island homebuyers with bad credit apply for…
In this article, we will cover and discuss qualifying and getting approved with the best New Hampshire Mortgage Lenders for bad credit after being denied by another lender. Not all lenders have the same lending requirements on government and conforming loans. Many borrowers looking for the best New Hampshire mortgage lenders for bad credit unknowingly…
Jumbo Mortgages are home mortgage loans that are higher than the conforming loan limit. The conforming loan limit for 2024 is $766,550. Conforming mortgage loans are mortgage loans that conform to Fannie Mae and Freddie Mac Guidelines. Fannie Mae and Freddie Mac have caps on conforming loan limits. Every year, the Federal Housing Finance Agency…
Our veterans are no exception. Lately, we have been getting many calls about VA entitlement and how the remaining entitlement works to purchase a second (primary) home with a VA mortgage loan. In this blog, we will detail the steps for how a veteran can relocate and use a VA mortgage, even if they already…
Can I Qualify For A VA Loan With A Lender With No Lender Overlays In Mississippi? Absolutely, Gustan Cho Associates is a lender with no lender overlays on VA loans and is licensed in Mississippi.
In this article, we will cover getting approved for VA loans in New Mexico. Are you an active duty military service member or a veteran looking to purchase a home in New Mexico either for yourself or your family? If so, have you heard about VA loans and that you can apply and qualify despite…
This Article Is About Pest Inspection On VA Loans Mortgage Guidelines By State Pest Inspection On VA Loans Mortgage Guidelines By State required by the Veterans Administration: Gustan Cho Associates are experts in VA mortgage financing. We offer all our VA loan programs without LENDER OVERLAYS. In this blog, we will detail a critical part…
VA guidelines after short sale to qualify for a VA loan require a mandatory waiting period of two years for borrowers to qualify for a VA loan. Lenders expect no late payments after the short sale and re-established credit. Qualifying for VA loans is much easier than any other loan program. The United States Department…
In this blog, we will cover and discuss VA renovation mortgage loans. Many of our veterans do not know they may utilize a VA loan to complete renovations to a property. This can be done when purchasing a home or refinancing their current primary residence. This product is similar to The FHA 203k or Fannie…
In this article, we will discuss and cover the VA automated findings on the automated underwriting systems (AUS). VA loans has more lenient agency mortgage guidelines than any other loan program. All VA loans need to go through the Automated Underwriting System for VA Automated Findings. What is the Automate Underwriting System (AUS) The Automated…
In this article, we will cover and discuss VA foreclosure guidelines in qualifying for VA loans. VA Foreclosure Guidelines require a two-year waiting period after a housing event to qualify for VA Loans.VA Foreclosure Guidelines are less strict than other loan programs. A housing event is a foreclosure, deed in lieu of foreclosure, or short-sale….
This article discusses the first time home buying process, emphasizing that it starts with pre-approval. The initial step for those currently renting or living with family and are first time home buyers is to consult with a mortgage lender. The most critical stage of the first time home buying process starts with getting pre-approved. Over…
Most people don’t know that the VA does not limit the amount that you can borrow. The VA guarantee limits the amount that most lenders will allow with zero down, but with a down payment there are no VA loan limits.
This guide covers clearing mortgage conditions of conditional loan approval. After borrower’s mortgage application has been processed and underwritten, the mortgage underwriter will issue a conditional mortgage approval. Clearing Mortgage Conditions is required for the underwriter to issue a clear to close. A conditional mortgage approval is a letter of intent that the lender will…
When And Why Do Mortgage Lenders Ask For Reserves? On VA and FHA manual underwriting, one month’s reserves are required. Multi-family units require reserves by homebuyers.
In this blog, we’ll explain the qualifying credit score that lenders use for mortgages. Mortgage underwriters determine this score by selecting the middle credit score from a tri-merge credit report. When a mortgage applicant applies, the loan officer pulls a report to evaluate creditworthiness. Not all creditors rely on tri-merge credit reports. It is common…
In this blog, we will discuss and cover qualifying for a VA loan with prior mortgage included in bankruptcy. VA home loans are the best mortgage loan program in the United States. Only active servicemen and women, retired veterans, reservists, spouses of deceased veterans, and National Guard members of our military with a valid Certificate…
This guide covers credit score guidelines versus overlays by mortgage lenders. There are two types of credit score requirements to get approved for a mortgage. There is the agency credit score guidelines by HUD, VA, USDA, Fannie Mae and Freddie Mac. The second credit score guidelines is from the individual mortgage lender. Many borrowers are…
When does an automated underwriting system approved file get downgraded to a VA manual underwrite downgrade on VA loans happen? If you are following Gustan Cho Associates, you know we are experts in VA mortgage guidelines. We do our best to help as many of our Nation’s veterans as possible. The team at Gustan Cho…
In this blog post, we’ll discuss qualifying for FHA loans with top North Carolina FHA lenders for bad credit. It’s important to note that not all North Carolina FHA lenders have identical loan criteria. First-time homebuyers with lower credit scores or lacking credit history may be rejected by one lender but approved by another lender…
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