Apply Now This article will cover going through credit repair to qualify for mortgage. Is going through credit repair to qualify for mortgage recommended? Consumers’ credit scores determine whether or not they qualify for a particular mortgage loan program. There are minimum credit score requirements for all loan programs. To qualify for a 3.5% down…
Apply Now This article will cover fixing credit to qualify for conventional loans. Sometimes, mortgage borrowers needed conventional loans instead of FHA, VA, and USDA loans. For example, borrowers with very high student loan balances may only qualify for conventional loans. This is because Fannie Mae and Freddie Mac was the only loan program that…
Apply Now This article will cover FHA guidelines on employment gaps and job seasoning requirements once borrowers return to work. FHA guidelines on employment gaps allow gaps in employment to qualify for FHA loans. One of the questions asked by lenders is two-year employment history. Most mortgage lenders require borrowers employed for two years in…
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…
The FHA minimum credit score requirements to get mortgage approval on FHA loans is 500 FICO. One of the most common questions I have been getting recently from my viewers is what are FHA Minimum Credit Score Requirements to qualify for an FHA loan with a 3.5% down payment. Many folks who contact me are…
In this blog, we will cover and discuss the down payment requirement on a home purchase. We know saving for a house takes time and discipline. At Non-Qm Mortgage Brokers, we help many clients tackle the mortgage buying process. One of the main obstacles preventing Americans from buying a home is the down payment requirement….
This Article Is About Buying Home With Student Loans And Qualifying For A Mortgage Credit scores and debt to income ratios are two of the most important factors when it comes to qualifying for a mortgage. Debt to income ratio (DTI) is the total sum of all monthly debts that report on the credit bureaus…
This article covers Tips For First Time Home Buyers And Mistakes To Avoid Many renters do not realize that they can qualify to be homeowners. We will cover Tips For First Time Home Buyers and mistakes to avoid during the mortgage process: Many renters think that they need 20% down payment in order to be first…
In this article, we will cover and discuss qualifying for non-QM mortgages after bankruptcy and foreclosure with no waiting period requirements. Government and conventional loans require a mandatory waiting period after bankruptcy, foreclosure, a deed in lieu of foreclosure, and a short sale. The waiting period after bankruptcy and foreclosure depends on the individual mortgage…
Getting a mortgage after a divorce is inevitable. One person will be awarded the house. The person who is awarded the house will want to have the mortgage just under their name. The same goes for the ex-spouse who has relinquished their rights to the home. They will not want to have any liabilities because…
Homebuyers and homeowners can get lower rates by buying down mortgage interest rates with discount points. Discount points are origination fees charged by lenders in lieu of getting lower mortgage rates. However, borrowers should buy discount points to buy down rates if they intend on not refinancing their home loan for at least five or…
In this blog, we will cover and discuss the adding non-occupant co-borrowers for mortgage for homebuyers with high debt-to-income ratios. We will also cover the non-occupant co-borrowers for mortgage guidelines on home loans. If you have dreamed of owning your own home but are unable to meet the requirements needed in order to do so,…
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 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…