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 Article Is About Bad Credit Home Loans Florida With Collection Accounts Florida home buyers can Bad Credit Home Loans Florida With Outstanding Collection Accounts and Charge Off Accounts. Under HUD Guidelinesmortgage applicants do not have to pay outstanding collection accounts and charge off accounts to qualify for FHA Loans. HUD is the parent of…
Many first-time home buyers with bad credit are under the following impression they need high credit scores and a 20% down payment to qualify for a mortgage. This is not true. FHA and USDA require 580 credit scores. The Veterans Administration has no minimum credit score requirement on VA loans. Fannie Mae and Freddie Mac…
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 Brokers specializes in helping home buyers qualify for bad credit home loans. We help homeowners with bad credit home loans in most of the…
We will discuss the expertise of our loan officers at Non-Qm Mortgage Brokers, powered by Gustan Cho Associates. We will explain why our loan officers at Non-Qm Mortgage Brokers, powered by Gustan Cho Associates, can do loans while other mortgage companies cannot. Non-Qm Mortgage Brokers is partnered and powered with Nexa Mortgage and is licensed…
Apply Now This guide will cover qualifying for a mortgage after deed-in-lieu versus foreclosure. Government loans treat a short sale and deed-in-lieu versus foreclosure differently concerning the mandatory waiting period to qualify for a mortgage. There is a mandatory waiting period after housing events with government and conventional loans. A housing event is the following:…
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 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…
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…
This blog will cover whether homebuyers can qualify for a mortgage with late payments. One of the main reasons for a mortgage loan denial is recent late payments. Borrowers can qualify for a mortgage with prior bad credit. They can have unpaid collections, charge-off accounts, prior late payments, bad credit, and low credit scores. But…
This Article Is About Back To Work Extenuating Circumstances FHA Mortgage Loan If you had to file bankruptcy or had a foreclosure, there are mandatory waiting periods if you want to get an FHA loan. The waiting period is 2 years from the date of your bankruptcy discharge date The waiting period is three years…
In this blog, we will cover and discuss hiring credit repair for mortgage repair. Many people planning on buying a home decide to take action by hiring credit repair for mortgage approval. Hiring credit repair for mortgage approval is not recommended. Credit repair companies can do more damage than good when it comes to fixing…
In this article, we will cover qualifying for a mortgage with late payments after bankruptcy. Most consumers are under the belief that bankruptcies are the end of the world. This is absolutely not the case. Bankruptcies is a federal law that all American consumers can utilize to help them with a fresh financial start. In…
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…
In this blog, we will cover and discuss how to write a letter of explanation to underwriters during the mortgage process. Borrowers who are either buying a home or homeowners who are refinancing their home loan go through the mortgage process by completing and submitting a mortgage application called 1003. Completing a mortgage application officially…