In this blog, we will cover warrantable versus non-warrantable condominium mortgage guidelines. It is important to understand the difference between warrantable and non-warrantable condos for condominium homebuyers. A warrantable condo can turn into a non-warrantable condo complex. Whether it is a warrantable versus non-warrantable condominium, the only way you can differentiate is by the occupancy…
This Article Is About VA Guidelines Under 580 Credit Scores On VA Loans: VA loans do not have minimum credit score requirements. Mortgage companies need to follow the minimum VA agency mortgage guidelines. However, individual mortgage companies can have higher lending requirements higher than the minimum VA agency mortgage guidelines. The higher lender requirements imposed…
In this blog, we will cover and discuss how to get mortgage approval with under 600 credit scores in 2022 and which mortgage options is best. Many homebuyers do their due diligence on FHA Guidelines On Credit Scores and find out HUD has the easiest lenient guidelines for mortgage approval with under 600 credit scores….
In this article, we will discuss and cover bad credit mortgage loans and qualification requirements. Mortgage borrowers with prior bad credit such as prior bankruptcy, foreclosure, deed-in-lieu, short sale, unpaid collections, judgments, tax liens, and charge-offs can qualify for bad credit mortgage loans. This holds true as long as they have rebuilt and re-established credit…
This Article Is About Bad Credit Home Loans Florida With Collection Accounts Florida home buyers can Bad Credit Home Loans Florida With Outstanding Collection Accounts and Charge Off Accounts. Under HUD Guidelinesmortgage applicants do not have to pay outstanding collection accounts and charge off accounts to qualify for FHA Loans. HUD is the parent of…
This guide covers qualifying and getting approved for a mortgage with a prior home loan included in Chapter 7 bankruptcy conforming guidelines. Fannie Mae has announced that there will be new rules for homeowners qualifying for conforming loans with home loan included in Chapter 7 bankruptcy. If someone has a home loan included in Chapter…
The article covers 30 Year Fixed Mortgage Rate At Historic Lows On Home Mortgages 30-year fixed-rate mortgage rates have dropped to a 20 month low. According to Freddie Mac, 30-year fixed-rate mortgage rates have not been this low in 20 months. Mortgage rates have been consistently sliding on a downward trend this year with a…
In this blog, we will discuss and cover doctor mortgage programs lending guidelines. Student loan debts are the number one barrier when it comes to physicians and medical professionals qualifying for a mortgage. Most physicians have student loan balances of more than $300,000. Depending on the postgraduate degree, I have seen doctors with over $1…
This Article Covers Second Home Financing Guidelines on Home Purchases Homebuyers of second homes can qualify with conventional loans. A 10% down payment is required. Rates on second homes are similar to owner-occupant homes. Rates on investment properties are significantly higher than owner-occupant and second homes. This is why homebuyers of second homes want to…
This BLOG On Florida Condo Hotel Financing Was Updated On October 28th, 2018 Condominium buyers who are in the market for a Condo Hotel in Florida, they may run into challenges in finding Condo Hotel Mortgage Lenders. Most Florida Condo Hotel Financing lenders who used to finance Condo Hotels in Florida have stopped lending on Condotels….
This BLOG On FNMA Bankruptcy Guidelines To Qualify For Conventional Loans Was UPDATED On December 15th, 2018 FNMA Bankruptcy Guidelines are the rules and regulations that set the qualification requirements and standards for borrowers of Conventional Loans after a Chapter 7 Bankruptcy discharged date. Fannie Mae and Freddie Mac are the two mortgage giants in the…
This BLOG On Mortgage Lending Process For First Time Home Buyers Was UPDATED And PUBLISHED On February 15th, 2020 The mortgage lending process does not have to be difficult: All of the horror stories about borrowers going through a stressful mortgage process and getting last minute mortgage denials can all be avoided How can I…
This guide covers the frequently asked question: do all lenders have the same guidelines on mortgage loans? The team at Gustan Cho Associates gets countless calls from our viewers on the topic of do all lenders have the same guidelines on mortgage loans: The answer is no. Not all lenders have the same credit score…
In this blog, we will cover the Benefits of Being a Homeowner versus Renter and the mortgage process. The American dream is still being a homeowner. A home purchase is normally one’s largest and single biggest investment. There are many benefits being a homeowner versus renter. Many renters do not realize how simple it is…
In this article, we will cover how to get mortgage with bad credit lenders with no overlays. Many borrowers have a hard time on how to get mortgage that they can qualify for. The government wants consumers to do mortgage shopping to get the best rates and terms. But many borrowers will not qualify for…