Reading Time: 5 minutes This Article Is About Conventional Loan Requirement And Mortgage Guidelines What Are The Conventional Loan Requirements Versus FHA Loans? There are many instances where borrowers need to go with conventional versus FHA loans. Conventional loans are the only loan program that accepts income-based repayment. Many borrowers are under the belief that conventional loans are for…
Reading Time: 3 minutes In this article, we will cover and discuss how to write a letter of explanation to mortgage underwriters. Borrowers need to get accustomed to writing letters of explanation to mortgage underwriters throughout the mortgage process. A letter of explanation to mortgage underwriters is just part of the program throughout the mortgage process. Whenever there…
Reading Time: 5 minutes In this blog, we will cover and discuss getting a mortgage after bankruptcy and foreclosure. There is a mandatory waiting period after bankruptcy and foreclosure to qualify for a residential mortgage loan. Government and conventional loans have a mandatory waiting period requirement to qualify for a mortgage after bankruptcy and/or a housing event. In the…
Reading Time: 4 minutes In this article, we will cover and discuss mortgage after loan modification guidelines on home loans. Mortgage after loan modification guidelines on government and conventional loans: Since the real estate crash of 2008, millions of Americans have gone through loan modifications. The loan modification process can be incredibly confusing and frustrating. We have heard numerous…
Reading Time: 9 minutes This guide will cover applying for a mortgage after bankruptcy and getting approved. Are you considering applying for a mortgage after bankruptcy? If so, you may feel overwhelmed and uncertain about your approval chances. But don’t worry! With the right outlook, strategy, and preparation, it is certainly possible to successfully apply for a loan post-bankruptcy….
Reading Time: 6 minutes In this article, we will cover and discuss credit disputes during mortgage underwriting process. How Credit Disputes During Mortgage Underwriting Process Can Disqualify Borrowers. Credit Disputes During Mortgage Process are not allowed. There are exempt disputes that do not have to be removed which we will discuss later in this article. Loan Officers should not…
Reading Time: 5 minutes This BLOG On Loan Estimate Replaces The Good Faith Estimate Was UPDATED On June 2nd, 2018 Loan Estimate Replaces The Good Faith Estimate Loan Estimate Replaces The Good Faith Estimate effective October 3, 2015. The main reason Loan Estimate Replaces The Good Faith Estimate was because the Consumer Protection Financial Bureau, referred and known as…
Reading Time: 3 minutes This Article Is About Mortgage Refinance Closing Costs When Refinancing Home Loans Mortgage Refinance Closing Costs And How It Is Paid: Refinancing is almost at a historical high More and more homeowners are refinancing their mortgages due to record low mortgage rates Last year in 2018, mortgage rates were at an all time high since…
Reading Time: 5 minutes This Article Is About Home Purchase After College With High Student Loan Balance One of the mandatory requirements to qualify for a residential home loan is that the mortgage loan applicant has a two-year work history. The 2-year work history requirement applies to all loan programs. Whether buyers want to qualify for an FHA, VA,…
Reading Time: 4 minutes This article covers adding a non-occupant co-borrower if your application is not strong. If you don’t qualify for a mortgage on your own, can adding a co-borrower help you qualify? Adding a co-borrower to your home loan application can increase your chances of mortgage approval. A co-borrower can increase your qualifying income if your debt-to-income…