In this blog, we will cover the various first-time homebuyer mortgage options that are available in today’s mortgage marketplace. There are many different types of first-time homebuyer mortgage options. We will review first-time homebuyer mortgage options for borrowers with bad credit, no credit, high debt-to-income ratios, 1099 wage earners, and self-employed borrowers. Apply Now What…
In this blog, we will be covering the VA refinancing guidelines and requirements for VA loans. VA loans are limited to only Veterans who have gotten an honorable discharge from a branch of the United States Armed Services and have a valid VA Certificate Of Eligibility. VA loans offer 100% financing. A veteran with a…
In this article, we will cover the FHA Underwriting Guidelines on home purchase and refinance transactions. In this paragraph, we will cover what are FHA underwriting guidelines. FHA Underwriting Guidelines are rules and regulations lenders need to follow on every mortgage loan application in order for that FHA Loan to be insured. HUD, the parent…
In this blog, we will cover and discuss buying home after short sale. Government and conventional loans have a mandatory waiting period after bankruptcy, foreclosure, a deed in lieu of foreclosure, or short sale. Buying home after short Sale With NON-QM Mortgage Loans is now possible for home buyers who recently had a short sale….
DTI manual underwriting guidelines on FHA and VA loans are similar. FHA and VA loans are the only two loan programs that allow manual underwriting on home mortgages. Many people are often confused about the differences between manual underwriting and automated underwriting system (AUS) approved files. Manual and AUS-approved underwriting is the same. However, with…
In this blog, we will cover student loan debt mortgage guidelines to qualify for government and conventional loans. We will go over the guidelines on Fannie Mae, Freddie Mac, HUD, VA, and USDA with regard to qualifying for mortgage loans with outstanding student loan debts. Student Loan Debt Mortgage Guidelines are different for every loan…
In this guide, we will cover the dually licensed MLO Career Opportunity For Realtors at Non-QM Mortgage Lenders Non-QM Mortgage Lenders, a dba of Non-QM Mortgage Lenders empowered by NEXA Mortgage, LLC. has business development manager positions for dually licensed MLO Career Opportunity for Realtors. Can Realtors Be Loan Officers? Realtors who are licensed loan…
In this blog, we will cover using seller concessions for the closing costs on a home purchase. We will go over what seller concessions are and how it works on home purchase transactions. Seller concessions can be used for closing costs. However, seller concessions cannot be used for the down payment on a home purchase….
In this article, we will cover and discuss the VA minimum credit score requirements to qualify for VA loans. The United States Department of Veterans Affairs (Referred to as The VA), has created and launched the VA Home Loan Program for our men and women of the United States Armed Services. Veterans of the United…
In this blog, we will cover VA Manual Underwriting Guidelines During Chapter 13 Bankruptcy Repayment Period. VA loans are home loan programs for active and/or retired members of the United States Armed Services with a Certificate of Eligibility. The Certificate of Eligibility is also referred to as the COE. Only active-duty and retired members of…
Home Buyers who meet USDA home mortgage guidelines can qualify for USDA loans with 100% financing. with no closing costs by using seller concessions and lender credit. Many people do not realize that USDA loans are not just for a home purchase in rural areas. Many suburbs of larger cities and towns are designed in…
In this blog, we will cover what non-QM mortgage loans are. Many homebuyers and real estate investors have heard of non-QM mortgage loans. However, a large number of homebuyers and real estate investors assume non-QM mortgage loans are non-prime loans or hard money loans with high mortgage rates. This is not true. Apply Now Why…
In this article, we will cover comparing the benefits of conventional versus FHA loans. Conventional and FHA loans are the two most popular mortgage loan options in the nation. Many folks, especially first-time homebuyers, do not realize which loan program is best for them. As far as they are concerned, a mortgage is a mortgage…
In this blog, we will cover qualifying for a mortgage with tax lien and outstanding judgments. We will cover tax liens and judgments together in this blog since they are similar and the guidelines are almost the same. Having a tax lien on a credit record is probably one of the worst hurdles home buyers…
In this blog, we will cover and discuss qualifying for a new home loan with late payments in the past 12 months. Home Buyers can qualify for home loans with prior bad credit. Qualifying for a home loan with late payments in the past 12 months is different than qualifying for a mortgage with prior…