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…
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 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…
This Article Is About Multiple FHA Loans At Same Time Mortgage Guidelines FHA loans are the second most popular loan program in the United States next to conventional loans. HUD, the parent of FHA, has more lenient mortgage lending guidelines than Fannie Mae and/or Freddie Mac. FHA loans have great benefits for first-time homebuyers, borrowers…
In this blog, we will discuss why Gustan Cho Associates is hands down the best mortgage lenders with no overlays in Indiana for 2022. Gustan Cho Associates | Empowered by | NEXA Mortgage, LLC | are now able to offer our services in the state of Indiana. During a recent transition to our new regional…
In this blog, we will discuss and cover FHA guidelines on collections charge-off accounts. The United States Department of Housing and Urban Development (HUD) is the parent of the Federal Housing Administration (FHA). FHA is not a lender. The Federal Housing Administration is a government agency under HUD. The role of HUD is to insure…
This BLOG On Home Loan With New Job Mortgage Guidelines And Requirements Was PUBLISHED On June 23rd, 2020 Income and employment is probably the most important factor when it comes to qualifying for a mortgage loan. Borrowers can have the best credit scores and payment history in the world but if they do not have…