In this article, we will cover and discuss qualifying for two-to-four unit multi-family home mortgage loans. One to four-unit residentially zoned properties is eligible for owner-occupant primary resident mortgage loans with HUD, VA, USDA, Fannie Mae, and Freddie Mac. Non-QM mortgage lenders also consider a one to four-unit property as a residential property and owner-occupant…
In this guide, we will explain and cover what loan level pricing adjustments (LLPAs) by mortgage lenders are and how it works. LLPAs are pricing hits to par rates charged by lenders due to the risk levels of the borrower. The higher the risk, the higher the mortgage rates the lender will charge. Not all…
In this blog, we will discuss and cover the recent late payments mortgage guidelines with non-QM loans. Mortgage borrowers can qualify for traditional government and conventional loans with prior bad credit. Outstanding collections and charge-off accounts do not have to be paid off to qualify for government and conventional loans. Home buyers can qualify for…
This Article Is About Mortgage Qualification Requirements For Home Loan Programs There are government and conventional loans. There are also non-QM and alternative financing loan programs. Every loan program has its own lending requirements. If a borrower cannot qualify for a government and/or conventional loan because of a recent bankruptcy, Gustan Cho Associates has non-QM…
This Article On First Time Home Buyers Frequently Asked Questions First Time Home Buyers Frequently Asked Questions: How is borrowers’ credit score? Do borrowers meet the minimum credit score? Borrowers credit score and income are the two most important factors when it comes to qualifying for a home loan Gustan Cho Associates and most other lenders will…
This Article On Homepath Renovation Mortgage Financing Guidelines Was UPDATED And PUBLISHED On July 19th, 2019 The HomePath Renovation Mortgage was extremely popular at one time. This is where a home buyer can purchase a HomePath property which are properties that are owned by Fannie Mae HomePath homes are homes that have been foreclosed upon and…