This guide covers the steps to shopping and buying a house in Hawaii. Buying a house in Hawaii can be quite costly. Home prices in Hawaii are above the national average. Besides high home prices, everything in Hawaii costs more than the mainland U.S. Many homebuyers buying a house in Hawaii will discover that home…
This guide covers how soon can I qualify for a mortgage after bankruptcy. If you follow Gustan Cho Associates regularly, you know we are experts in mortgage lending surrounding bankruptcies. Gustan Cho Associates offers all of our mortgage products without additional LENDER OVERLAYS. This allows us to finance mortgage loans in an active Chapter 13…
This guide covers mortgage refinance guidelines. We will also cover homeowners’ top reasons and benefits for refinancing their mortgage loans. There are other reasons why homeowners need refinancing on their current mortgage loan besides just refinancing. Per mortgage refinance guidelines, homeowners may refinance to have a lower interest rate and save money. Although the main…
This article is about Home Equity Line Of Credit In California Versus Cash-Out Refinance Home Equity Line Of Credit In California: California is the largest state in the nation California also has one of the highest home values in the United States Average home prices in the state of California is $595,700 when the national…
Many first-time home buyers with bad credit are under the following impression they need high credit scores and a 20% down payment to qualify for a mortgage. This is not true. FHA and USDA require 580 credit scores. The Veterans Administration has no minimum credit score requirement on VA loans. Fannie Mae and Freddie Mac…
In this article, we will cover and discuss the true cost of home ownership and compare the cost of a homeowner versus a renter. We will cover the frequently asked questions by first-time homebuyers with concerns about becoming a homeowner. We will discuss the finances and credit required to buy a house. We will also…
Many renters are under the belief that they need a 20% down payment and good credit to qualify for mortgage loans. This is not the case. The Team at Non-QM Mortgage Lenders specializes in helping home buyers qualify for bad credit home loans. We help homeowners with bad credit home loans in most of the…
This guide will cover how down payment assistance works for homebuyers. Homeownership is a dream for many Americans, but the reality is that saving for a down payment, which is crucial if you are to secure a mortgage, can be daunting. With home prices rising and wages often needing to catch up, saving tens of…
This guide will cover conditional mortgage approval from the mortgage underwriter during the home loan process. Once borrowers submit a mortgage loan application, it gets processed and submitted to underwriting. Once submitted to underwriting, it gets assigned to a mortgage underwriter. Fiona McCue, a senior mortgage processor at Non-QM Mortgage Lenders, explains the role of…
Apply Now This guide will cover qualifying for a mortgage after deed-in-lieu versus foreclosure. Government loans treat a short sale and deed-in-lieu versus foreclosure differently concerning the mandatory waiting period to qualify for a mortgage. There is a mandatory waiting period after housing events with government and conventional loans. A housing event is the following:…
This blog will cover and discuss manual underwriting credit guidelines on VA and FHA loans. VA and FHA allow for manual underwriting. Fannie Mae and Freddie Mac do NOT allow manual underwriting on conventional loans. According to Angie Torres, the National Operations Director at Non-QM Mortgage Lenders, manual underwriting is defined as follows: Manual Underwriting…
This guide will cover how a credit dispute on a derogatory credit tradeline can halt the mortgage process on FHA loans. Millions of Americans fell victim to the economic, real estate, and banking collapse of 2008. The Great Recession of 2008 devastated more families than any other in U.S. history. Dale Elenteny of Non-QM Mortgage…
This article will cover the mortgage agency guidelines on VA loans after mortgage charge-off. There are mandatory waiting periods after bankruptcy, foreclosure, deed-in-lieu of foreclosure, and short sale to qualify for government and conventional loans. VA loans are the best mortgage loan program in the United States. However, only veterans with a certification of eligibility…
This guide will cover re-establishing credit with secured credit cards to qualify for a mortgage. Qualifying for a home loan is not as difficult as many people think. Most homebuyers think they need a large down payment and good credit to qualify for a mortgage loan. Lenders do realize that many folks may have gone…
In this blog, we will discuss and cover one of the most frequently asked questions we receive daily can I qualify for a VA loan with high DTI? VA loans are the best mortgage loan program in the United States. Dale Elenteny of Non-QM Mortgage Lenders issues the following statement about VA loans: VA loans…