Qualifying for a Mortgage Loan With Judgment: Your 2024 Guide If you’re trying to get a mortgage loan with a judgment on your credit report, you might think it’s impossible. The good news? It’s not! Even with an outstanding judgment, you can still qualify for a conventional or FHA mortgage. Still, there are specific steps…
Mortgage Credit Scores: What Do Lenders Use to Qualify Borrowers in 2024? If you’re considering buying a home or refinancing, you’ve probably heard much about credit scores. But what exactly are mortgage credit scores, and how do they affect your ability to get approved for a loan? In this blog post, we’ll cover everything you…
VA Cash-Out Eligibility Guidelines: Your Complete Guide for 2024 When it comes to refinancing your home, the VA cash-out refinance is one of the best options out there for veterans and active-duty service members. The VA cash-out refinance program in 2024 enables homeowners to access their home equity through a 100% cash-out refinance, offering competitive…
VA Guidelines After Bankruptcy: Qualifying for a VA Loan in 2024 If you’ve experienced bankruptcy, don’t give up on your dream of homeownership. The VA loan program offers one of the most flexible and forgiving paths to homeownership, even after financial setbacks like bankruptcy or foreclosure. For veterans and active-duty service members, the VA loan…
Credit Guidelines in Mortgage Underwriting Process: Your 2024 Guide to Mortgage Approval Purchasing or refinancing a home is one of the biggest financial steps you’ll take. Whether you’re a first-time homebuyer or looking to refinance, understanding how credit guidelines impact the mortgage underwriting process can help you prepare. This guide includes everything you need about…
Frequently Asked Questions About Compensating Factors on Manual Underwriting: 1. What is manual underwriting, and how does it help me get a mortgage? Manual underwriting is when a human underwriter reviews your mortgage application instead of a computer system. This can help you get approved if the automated system says no, especially if you have…
Discount Points: How to Buy Down Your Mortgage Rate in 2024 Buying a home is one of the biggest financial decisions most of us will make. While locking in a good mortgage rate is a priority for most homebuyers, not everyone knows that you can lower your interest rate even more by using discount points….
Errors in your credit report can significantly affect your financial future, especially if you plan to buy a house or refinance your mortgage. No matter how small, a mistake in your credit report could lower your credit score. This might cause higher interest rates, loan denials, or delays in your mortgage application. According to the…
If you’ve had a timeshare foreclosure, don’t worry—you can still buy a home without a long waiting period. Most people think a timeshare foreclosure is just like a mortgage foreclosure, but that’s not true. In this post, we’ll explain how a timeshare foreclosure differs and why you may not need to wait years to get…
Are you dreaming of owning a home that needs some TLC? Or you’re a homeowner looking to renovate and make your house your dream home. Consider the FHA 203k Mortgage Loan program as a potential option. With this loan, you can fund the purchase (or refinance) and the remodeling of a home using a single…
If you’re struggling with bad credit and need financing, you’ve probably heard of hard money loans. These types of loans are different from traditional ones because they rely more on the value of your property than your credit score. For many borrowers with less-than-perfect credit, hard money loans can be a great solution. Let’s dive…
Applying for a mortgage can feel daunting, especially when your lender asks you to submit a Letter of Explanation to Underwriters (LOE). You’ve come to the right place if you’re wondering why this is needed to write it effectively. In this updated guide for 2024, we’ll walk you through everything you need to know about…
Whether buying a new home or refinancing your current one, a home appraisal is a critical step in the mortgage process. But the appraisal process can feel confusing and even a little intimidating if you’re like most homebuyers or homeowners. Don’t worry—we’ve got you covered! In this guide, we’ll break down everything you need to…
If you are thinking about purchasing a house or refinancing your existing mortgage, you have likely encountered the phrase “closing costs.” Understanding closing costs is essential because they affect your budget and overall financial plan. In this guide, we’ll break down closing costs, how much you can expect to pay, and the smart ways to…
If you’ve had late payments in the past year, you may be wondering if you can still qualify for an FHA loan. The good news is that, with the right lender and guidance, you can. At Non-QM Mortgage Lenders, we specialize in helping borrowers who other lenders have turned away. We don’t have overlays, which…