Getting a mortgage after a divorce is inevitable. One person will be awarded the house. The person who is awarded the house will want to have the mortgage just under their name. The same goes for the ex-spouse who has relinquished their rights to the home. They will not want to have any liabilities because…
In this blog, we will cover and discuss how to hire the best real estate agent to list and find your new home. We will also do a feature on the Broker/Owner of the Balado Group, Tracie Balado. In this blog, we will cover and discuss how to hire the best real estate agent to…
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 article, we will cover and discuss non-QM loan requirements for purchase and refinance transactions. Despite the coronavirus pandemic that broke out in February 2020, the housing market has been going strong. Again, 2022 was a historic year for the housing and mortgage markets. Home prices continue to rise despite the coronavirus economic impact…
In this blog, we will cover and discuss what is a 2-1 buydown mortgage. In today’s financial climate, it seems like everything is unaffordable. Whether you are living your day-to-day life buying groceries and gasoline or attempting to find housing, everything seems to cost more these days. Clearly inflation is out of control if our…
In this guide in Non-QM Mortgage Lenders, we will cover and discuss qualifying for a mortgage after bankruptcy for borrowers on home purchase and refinance transactions. Government-backed loans and conventional loans have mandatory waiting period requirements to qualify for a mortgage after bankruptcy. To get a conventional mortgage that meets the requirements from Fannie Mae…
In this article, we will cover and discuss the down payment and closing costs required for a home purchase. Many first-time home buyers are very concerned about how much money they would need to save in order to be qualified to be able to purchase their new home. Believe it or not, many people who dream…
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 blog, we will cover the closing costs breakdowns on a home purchase transaction. The down payment on a home purchase is a fixed percentage of the purchase price. Closing costs vary depending on the borrower, the property, the city, the county, and the state. Whether mortgage borrowers are refinancing a current home or…
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 article, we will cover the waiting period requirements on FHA versus Conventional loans after bankruptcy and foreclosure. Homebuyers can qualify for a mortgage loan after bankruptcy, foreclosure, a deed in lieu of foreclosure, or a short sale. However, there are mandatory waiting periods after bankruptcy and foreclosure with government and conventional loans. There…
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 article, we will cover qualifying for a mortgage with late payments after bankruptcy. Most consumers are under the belief that bankruptcies are the end of the world. This is absolutely not the case. Bankruptcies is a federal law that all American consumers can utilize to help them with a fresh financial start. In…
In this article, we will cover and discuss getting approved for FHA loans with collection accounts. Home Buyers who are looking to get qualified for a purchase mortgage loan or a refinance mortgage loan can qualify for FHA loans with collection accounts without having to pay outstanding collections and charge-offs. HUD Guidelines state that borrowers can…