This BLOG On Home Purchase After Bankruptcy And Foreclosure Was UPDATED On December 10th, 2018 The real estate and credit collapse of 2008 has affected millions of homeowners. The burst of the housing bubble not only set records in foreclosures but also affected many American workers with massive layoffs Many business owners either went out of…
This Article Is About Understanding Your Credit Report To Qualify For Mortgage Understanding your credit report is extremely important for not borrowers but for all consumers. A person’s credit report provides information to existing and potential creditors on the credit applicants payment history and patterns. An applicant’s past payment performance and history is a good indicator…
This BLOG On Feds Cause Mortgage Rates To Drop To Lowest Levels In 3 Years Was PUBLISHED On June 29th, 2019 Feds Cause Mortgage Rates To Drop This Week. After the Federal Reserve Board’s meeting on March 2019, mortgage rates have been consistently dropping Both 30 year fixed mortgage rates and 15 year fixed mortgage…
This BLOG On Mortgage Lender Reviews And Testimonials By Borrowers Was PUBLISHED On June 13th, 2020 The home buying process is both an exciting and stressful process at the same time. Choosing a loan officer is one of the most important tasks for a mortgage loan applicant Whether seeking a home purchase loan or a…
This ARTICLE Is About Home Inspection During The Home Buying And Mortgage Process A Home Inspection During The Home Buying And Mortgage Process is not required. An appraisal is mandatory for all homebuyers who plan on getting a mortgage. A home inspection is highly recommended. There are countless homebuyers wanting to save $200 to $500…
This Article Is About Home Shopping Advice For First Time Home Buyers The home buying and mortgage process is a process. There are many moving parts when buying a home. Most homebuyers need a mortgage. The real estate agent needs to work closely with the loan officer. The loan officer needs to make sure the…
This Article Is About Importance Solid Pre-Approval Letter On Home Purchase The Importance Of A Solid Pre-Approval Letter By The Loan Officer: The pre-approval phase of the mortgage process is the most important step. The number one reason for a last-minute mortgage loan denial or stress during the mortgage process is that the loan officer…
In this blog, we will discuss and cover FHA guidelines on bad credit on home purchase and refinance. HUD, the parent of FHA, has the most lenient mortgage guidelines when it comes to home loan borrowers with bad credit. FHA Guidelines On Bad Credit do not require borrowers to pay off the outstanding collection and…
This article is about Conventional Loan Waiting Period After Housing Event And Bankruptcy Conventional Loan Waiting Period Explained There are Conventional Loan Waiting Period requirements after bankruptcy, foreclosure, deed in lieu of foreclosure, and short sale. Fannie Mae and Freddie Mac are the two mortgage giants that make up the conventional mortgage lending guidelines Fannie…
This BLOG On Fannie Mae Waiting Period After DIL And Short Sale Was UPDATED On February 6th, 2019 A deed in lieu of foreclosure (DIL)is an alternative to foreclosure. DIL is when the homeowner and the lender come to an agreement where the homeowner will surrender the title and the keys to their home in lieu…
There are many reasons to refinance your mortgage loan. Refinancing from an FHA mortgage into a conventional loan is a very common practice This is a great opportunity to stop paying mortgage insurance and lower your monthly mortgage obligation This time will go down in history with some of the lowest interest rates ever seen…
This Article Is About Verification Of Employment For Mortgage To Determine Qualified Income Employment, income, and credit are the most important factors in qualifying for a mortgage. Only qualified income can be used as income by lenders. All income need to be sourced and meet agency guidelines standards. Cash income is non-existent in the mortgage…
Loan Programs With No Waiting Period After Bankruptcy Was UPDATED On January 4th, 2019 HUD has a mandatory waiting period after bankruptcy and foreclosure. Loan Programs With No Waiting Period After Bankruptcy and Foreclosure is offered by Gustan Cho Associates. These loan programs are called NON-QM Loans. Currently, the waiting period is two years from…
This Article Is About Special Mortgage Loan Programs After Loan Denial By Lender There are times where borrowers go through stress during the mortgage process or get a last-minute loan denial. What do you do? Look for another lender? Give up? There are solutions for quick mortgage approval and fast closing. There are lenders who…
This Article Is About The VA Maximum DTI Guidelines On VA Home Mortgages All government and conventional loan programs have minimum credit score requirements and debt to income ratio requirements with the exception of VA Mortgages. VA loans have lenient agency mortgage guidelines. The U.S. government realizes veterans have lower credit profiles than their civilian…