This blog will cover and discuss manual underwriting credit guidelines on VA and FHA loans. VA and FHA allow for manual underwriting. Fannie Mae and Freddie Mac do NOT allow manual underwriting on conventional loans. According to Angie Torres, the National Operations Director at Non-QM Mortgage Lenders, manual underwriting is defined as follows: Manual Underwriting…
This guide will cover how a credit dispute on a derogatory credit tradeline can halt the mortgage process on FHA loans. Millions of Americans fell victim to the economic, real estate, and banking collapse of 2008. The Great Recession of 2008 devastated more families than any other in U.S. history. Dale Elenteny of Non-QM Mortgage…
This article will cover the mortgage agency guidelines on VA loans after mortgage charge-off. There are mandatory waiting periods after bankruptcy, foreclosure, deed-in-lieu of foreclosure, and short sale to qualify for government and conventional loans. VA loans are the best mortgage loan program in the United States. However, only veterans with a certification of eligibility…
This guide will cover re-establishing credit with secured credit cards to qualify for a mortgage. Qualifying for a home loan is not as difficult as many people think. Most homebuyers think they need a large down payment and good credit to qualify for a mortgage loan. Lenders do realize that many folks may have gone…
In this blog, we will discuss and cover one of the most frequently asked questions we receive daily can I qualify for a VA loan with high DTI? VA loans are the best mortgage loan program in the United States. Dale Elenteny of Non-QM Mortgage Lenders issues the following statement about VA loans: VA loans…
In this article, we will cover how to improve your credit scores to qualify for mortgage. There are many ways how to improve your credit scores to qualify for mortgage. It is not too difficult and many times, just applying a few simple techniques can do wonders. The team at Non-QM Mortgage Lenders are experts…
Apply Now This article will cover going through credit repair to qualify for mortgage. Is going through credit repair to qualify for mortgage recommended? Consumers’ credit scores determine whether or not they qualify for a particular mortgage loan program. There are minimum credit score requirements for all loan programs. To qualify for a 3.5% down…
Apply Now This article will cover fixing credit to qualify for conventional loans. Sometimes, mortgage borrowers needed conventional loans instead of FHA, VA, and USDA loans. For example, borrowers with very high student loan balances may only qualify for conventional loans. This is because Fannie Mae and Freddie Mac was the only loan program that…
This article will cover FHA guidelines on employment gaps and job seasoning requirements once borrowers return to work. FHA guidelines on employment gaps allow gaps in employment to qualify for FHA loans. One of the questions asked by lenders is two-year employment history. Most mortgage lenders require borrowers employed for two years in the same…
Can you qualify for FHA loans with charge-offs? Do you have to pay charge-offs to qualify for FHA loans with charge-offs? One of the most common questions is, do you have to pay a charge-off to qualify for FHA loans with charge-offs? Per HUD agency guidelines, borrowers can qualify for FHA loans with charge-offs and…
The FHA minimum credit score requirements to get mortgage approval on FHA loans is 500 FICO. One of the most common questions I have been getting recently from my viewers is what are FHA Minimum Credit Score Requirements to qualify for an FHA loan with a 3.5% down payment. Many folks who contact me are…
In this blog, we will cover and discuss the down payment requirement on a home purchase. We know saving for a house takes time and discipline. At Non-QM Mortgage Lenders, we help many clients tackle the mortgage buying process. One of the main obstacles preventing Americans from buying a home is the down payment requirement….
This Article Is About Buying Home With Student Loans And Qualifying For A Mortgage Credit scores and debt to income ratios are two of the most important factors when it comes to qualifying for a mortgage. Debt to income ratio (DTI) is the total sum of all monthly debts that report on the credit bureaus…
This article covers Tips For First Time Home Buyers And Mistakes To Avoid Many renters do not realize that they can qualify to be homeowners. We will cover Tips For First Time Home Buyers and mistakes to avoid during the mortgage process: Many renters think that they need 20% down payment in order to be first…
In this article, we will cover and discuss qualifying for non-QM mortgages after bankruptcy and foreclosure with no waiting period requirements. Government and conventional loans require a mandatory waiting period after bankruptcy, foreclosure, a deed in lieu of foreclosure, and a short sale. The waiting period after bankruptcy and foreclosure depends on the individual mortgage…