FHA Jumbo Loans are FHA loans that has a higher loan limit than the standard FHA loan limit in low-cost areas. FHA Jumbo Loans, often referred to as FHA High-Balance Loans, is no different than the standard FHA loan in low-cost counties. The only difference between FHA High-Balance Jumbo Loans versus standard FHA loans in…
This article covers Waiting Period For Mortgage After Bankruptcy And Foreclosure What Are The Waiting Period For Mortgage After Bankruptcy And Foreclosure: For home buyers with a prior bankruptcy and/or foreclosure, there is a mandatory waiting period for a mortgage after bankruptcy and foreclosure to qualify for traditional mortgage loans. Traditional mortgage loan programs are…
In this blog, we will discuss and cover Fannie Mae Guidelines on mortgage included in bankruptcy. Conforming Guidelines On Mortgage Included in Bankruptcy is different on Conventional Loans than it is on FHA, VA, and USDA loans. Fannie Mae and Freddie Mac have much looser mortgage lending guidelines when it comes to the recorded date of…
In this article, we will discuss and cover updated HUD mortgage guidelines on home purchase FHA loans. The economy is on a fast-paced economic recovery after the coronavirus outbreak in February 2020. The housing market is booming like never before. Home prices are skyrocketing and both the FHFA and HUD has increased loan limits on…
This BLOG On Mortgage Guidelines Versus Lender Overlays On Home Loans Was PUBLISHED On May 12th, 2020 There is a big difference between mortgage guidelines versus lender overlays. Not all lenders have the same lending requirements on FHA, VA, USDA, and Conventional Loans All lenders need to follow minimum agency guidelines mandated by FHA, VA,…
This Article Is About Condominium Mortgage Loans And Lending Guidelines Condominium mortgage loans are considered riskier investments by lenders versus single-family homes. In the mortgage world, lenders will charge loan level pricing adjustments (LLPA) whenever there is a higher risk. LLPAs are charged on lower credit score borrowers, higher debt to income ratio, property types,…
In this article, we will cover the differences between non-QM down payment requirements versus traditional loans. This blog on Non-QM down payment requirements is an update of an older blog post that we published on bank statement loans which still exists but dozens more non-QM mortgages are now in the marketplace. Non-QM Mortgage Lenders now…
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 blog, we will cover and discuss qualifying for a new home loan with late payments in the past 12 months. Home Buyers can qualify for home loans with prior bad credit. Qualifying for a home loan with late payments in the past 12 months is different than qualifying for a mortgage with prior…
During this writing, we are going to talk about USDA Loans. By the end of this blog, you will know what a USDIn this A Loan is, what the necessary requirements are to obtain a USDA Loan, and how to apply for one. What is a USDA Loan? A USDA Loan is a type of…
Many borrowers and real estate agent partners who have never heard of us at Non-QM Mortgage Lenders often question, Why Choose Non-QM Mortgage Lenders The answer is very simple. We have more government-backed and conforming loan programs with no lender overlays than any other mortgage broker in the country. We have more non-QM and alternative…
In this guide on what are the eligibility and qualification requirements to qualify for a mortgage after Chapter 13 Bankruptcy, we will cover what type of mortgage loan program you can qualify for during and after the Chapter 13 Bankruptcy repayment plan. We will also cover the agency mortgage guidelines on qualifying for a mortgage…
In this guide, we will explain and cover what loan level pricing adjustments (LLPAs) by mortgage lenders are and how it works. LLPAs are pricing hits to par rates charged by lenders due to the risk levels of the borrower. The higher the risk, the higher the mortgage rates the lender will charge. Not all…
In this mortgage guide, we will cover qualifying for jumbo loans after bankruptcy. We all know that despite our best intentions, we can have instances that happen in life that cause financial hardship. We get in over our heads in debt or a major event has occurred that has made it impossible to dig ourselves…
In this guide on Jumbo Loans, we will cover traditional and non-QM jumbo loans available at Non-QM Mortgage Lenders Any mortgage loan that exceeds the maximum conforming loan limit is considered non-conforming. Fannie Mae and Freddie Mac will not purchase mortgages that exceed their conforming loan limit. Days of needing perfect credit and high credit…