This guide covers mortgage refinance guidelines. We will also cover homeowners’ top reasons and benefits for refinancing their mortgage loans. There are other reasons why homeowners need refinancing on their current mortgage loan besides just refinancing. Per mortgage refinance guidelines, homeowners may refinance to have a lower interest rate and save money. Although the main…
This guide will cover the types of mortgage options for homebuyers. Taking out a loan can be daunting, especially if you need to learn about mortgages. Wendy Lahn, a dually licensed real estate agent, and loan officer, shared the following: For starters, you should know that not all loans are the same, with the main…
This guide will cover VA guidelines after bankruptcy and foreclosure on VA loans. VA loans are the best home mortgage loan program available today. Dale Elenteny of Non-QM Mortgage Brokers is an expert on VA loans and has done countless VA manual underwriting VA loans with credit scores down to 500 FICO and debt-to-income ratios…
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 Brokers, manual underwriting is defined as follows: Manual Underwriting…
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…
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 Brokers issues the following statement about VA loans: VA loans…
In this blog, we will cover and explain VA overlays imposed by mortgage lenders on VA home loans. VA loans are the best mortgage loan program in the United States. No other owner-occupant primary home loans come close to the benefits of VA loans. Private lenders offer VA loans at 100% financing where no down…
This Article Is About Government-Backed Loans for first-time homebuyers. Most people do not want too much government. However, when it comes to government-backed loans, everyone is all for it. Government-backed loans are ideal for first-time homebuyers because it requires little to no down payment plus has lenient mortgage guidelines. In the following paragraphs, we will…
In this blog, we will be covering the VA refinancing guidelines and requirements for VA loans. VA loans are limited to only Veterans who have gotten an honorable discharge from a branch of the United States Armed Services and have a valid VA Certificate Of Eligibility. VA loans offer 100% financing. A veteran with a…
DTI manual underwriting guidelines on FHA and VA loans are similar. FHA and VA loans are the only two loan programs that allow manual underwriting on home mortgages. Many people are often confused about the differences between manual underwriting and automated underwriting system (AUS) approved files. Manual and AUS-approved underwriting is the same. However, with…
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…
In this blog, we will cover VA Manual Underwriting Guidelines During Chapter 13 Bankruptcy Repayment Period. VA loans are home loan programs for active and/or retired members of the United States Armed Services with a Certificate of Eligibility. The Certificate of Eligibility is also referred to as the COE. Only active-duty and retired members of…
In this article, we will discuss and cover the VA cash-out eligibility guidelines for VA loans. VA loans are hands down the best mortgage loan program in the nation with no minimum credit score requirements, no maximum loan limit, no mortgage insurance, and no maximum loan limit. There are specific VA Cash-Out Eligibility Guidelines for…