This Article Is About Automated Underwriting System Approval Findings on home mortgages The automated underwriting system approval findings is a sophisticated computerized system used by mortgage lenders to get automated findings on government and conventional loans. Programmed in the AUS is data of all updated agency mortgage guidelines. What Is The Automated Underwriting System Approval?…
In this article, we will cover and discuss qualifying for VA loans with 580 credit scores. Active duty and retired eligible veterans with a VA certificate of eligibility do not realize that they can get qualified for VA loans with 580 credit scores. Actually, the U.S. Department of Veteran Affairs has no minimum credit score…
In this article, we will cover and discuss the VA minimum credit score requirements to qualify for VA loans. The United States Department of Veterans Affairs (Referred to as The VA), has created and launched the VA Home Loan Program for our men and women of the United States Armed Services. Veterans of the United…
This guide covers how soon can I qualify for a mortgage after bankruptcy. If you follow Gustan Cho Associates regularly, you know we are experts in mortgage lending surrounding bankruptcies. Gustan Cho Associates offers all of our mortgage products without additional LENDER OVERLAYS. This allows us to finance mortgage loans in an active Chapter 13…
In this article, we will cover HUD Chapter 13 Bankruptcy Guidelines on FHA loans, HUD, the parent of the Federal Housing Administration (FHA) is one of two mortgage loan programs that allow borrowers to qualify for home loans during Chapter 13 Bankruptcy repayment plan. You do not have to have the Chapter 13 Bankruptcy discharged…
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…
Can You Get a Mortgage with Late Payments? Here’s How to Make It Happen in 2024 One of the most significant financial actions you’ll ever make is purchasing or refinancing a home. But what if you’ve had late payments in the past? Can you still qualify for a mortgage with late payments on your credit…
This guide covers the mortgage process leading to clear-to-close and closing on time. The basic steps in the mortgage process leading to clear-to-close and closing on time. The mortgage loan and approval process starts when the mortgage processor is assigned to the borrower’s file. The loan officer will be alerted once the applicant completes and…
This Article Is About Preparing For An FHA Loan With A Lender With No Overlays The COVID-19 coronavirus pandemic has sent many families out of major cities. Thousands of Americans fear living in a major city, accompanied by historically low-interest rates, has sparked a homebuying uptick. Many families may have less than perfect credit but…
This blog will discuss how lenders price mortgage rates by credit score. We will compare mortgage rates for Maine homebuyers with bad credit and the difference between higher credit score borrowers with lower rates. Lenders base risk levels on the credit score of borrowers. We will compare the various loan programs’ best mortgage rate options…
In this blog, we will discuss and cover the updated HUD guidelines on FHA home loans for 2022. FHA loans are the most popular home loan programs in the United States for homebuyers with lower credit scores and bad credit. Homebuyers with credit scores down to 580 FICO are eligible to qualify for FHA loans…
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 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 article, we will cover and discuss the true cost of home ownership and compare the cost of a homeowner versus a renter. We will cover the frequently asked questions by first-time homebuyers with concerns about becoming a homeowner. We will discuss the finances and credit required to buy a house. We will also…
Many renters are under the belief that they need a 20% down payment and good credit to qualify for mortgage loans. This is not the case. The Team at Non-QM Mortgage Lenders specializes in helping home buyers qualify for bad credit home loans. We help homeowners with bad credit home loans in most of the…