Can I Qualify for VA Loan with High DTI in 2024? Are you a military member interested in finding out if you are still eligible for a VA loan even if you have a high debt-to-income ratio (DTI)? You’re not alone—this is one of the most frequently asked questions we get from veteran borrowers. The…
Student Loan Debt Mortgage Guidelines: Your Path to Homeownership in 2024 Purchasing a house is one of the most significant choices in life. But if you have student loans, you might wonder if your dream of owning a home is within reach. You’re not alone. Many potential homebuyers worry that their student loan debt will…
Conventional Versus FHA Loans: Which Is Best for You in 2024? When purchasing a house, selecting the appropriate mortgage is a significant choice. The two most popular mortgage options are conventional loans and FHA loans. If you’re a first-time homebuyer or trying to figure out the best way to finance a new home, you’re probably…
How Can Secured Credit Cards Help You Rebuild Credit and Qualify for a Mortgage in 2024? If you dream of buying a home, you might wonder how to boost your credit to qualify for a mortgage. Good news—rebuilding credit isn’t as hard as you think, and secured credit cards are a powerful tool to get…
In this blog, we will cover and discuss manufactured homes lending guidelines on purchases. Not too many lenders offer Manufactured Homes Lending. As time pass, manufactured home builders are coming up with creating great looking, and functional manufactured homes. You cannot tell the difference between a stick-built home and modern manufactured homes. Double Wide Manufactured…
This Article Is About Step By Step House Shopping Process And Qualifying For Mortgage After a home buyer has gone through a solid pre-approval mortgage process it is now to look for a home. Not just window shopping but the real deal. It is time to hire a real estate agent and go shopping for…
This BLOG On Buying Foreclosures And Fixer Uppers With FHA 203k Loans Was UPDATED On May 1st, 2019 Many home buyers believe that buying foreclosures are a bargain. Some buyers just look at properties that foreclosed. This may be the case but not always so. Home Buyers of fixer uppers and foreclosure can now make their dream of…
In this blog, we will cover and discuss the HUD minimum credit score guidelines on FHA loans. Over 75% of our borrowers at Gustan Cho Associates are folks who come to us because they cannot qualify for FHA loans at other lenders. Many are often confused about why lenders have their own credit score requirements….
This BLOG On Can I Qualify For A Reverse Mortgage If I Am Still Working Was UPDATED On July 4th, 2018 How Can I Qualify For A Reverse Mortgage If I Am Still Working? A Reverse Mortgage is not for everyone To qualify, the homeowner needs to be at least 62 years of age or older Homeowners…
This article is about Rebuilding Credit After Bankruptcy To Qualify For Mortgage Many folks who just went through bankruptcy have a goal that they will never obtain credit ever again. Everything they purchase will be purchased with cash. If they cannot afford it by paying it in full, they do not buy it This is…
This BLOG On Benefits Buying Smaller Home Versus Larger Homes Was UPDATED On April 16th, 2019 Buying a home is not like buying a car or other high ticket items. Unless buyers are real estate investors, chances are that if a person is buying a home, they intend in living there for several years, raise a…
How much should you offer when you know there are other interested buyers? Your lender will base your maximum loan amount on the appraised value or purchase price, whichever is lower. So you can’t offer more than the property value. If you can’t pay cash, get a preapproved mortgage and attach your approval to your offer….
This ARTICLE On Your Checklist To Qualify For A Mortgage To Start Mortgage Was PUBLISHED On October 8th, 2019 Congratulations, you’ve decided to buy a home! Buying a home is an intimidating process for many people for a variety of reasons, like figuring out your mortgage options. Mortgage requirements come with a costly learning curve….
This guide covers how to choose another lender after a mortgage application denied. There are options for borrowers when mortgage application denied by a lender. Home-buying can be a roller coaster of excitement, nervousness, and anticipation. All of those emotions are standard. However, when your mortgage application denied, a new breed of emotions takes over….
This BLOG On Mortgage Underwriters Role During Mortgage Process Was UPDATED On May 2nd, 2019 The mortgage underwriter is the most important person in the mortgage application and approval process. The most important person in the mortgage application and approval process, the underwriter, is the person borrowers will never talk to nor meet The mortgage…