2 weeks ago
Compensating Factors in Mortgage (1)

Compensating Factors in Mortgage on Manual Underwriting

In this blog, we will cover and discuss compensating factors in mortgage on manual underwriting. HUD compensating factors guidelines on FHA  and VA loans are limited to certain factors. Not all positive factors can be considered compensating factors by mortgage underwriters. Compensating factors in mortgage are important on manual underwrites where underwriters need to go...

2 weeks ago
Mortgage With Low Credit Score in Chicago

Buying a House in Chicago With Bad Credit

Here are some facts about getting financing for a single-home family in Chicago for people who have bad credit meaning they have a 580 or lower credit score. We will go through all options and facts that are available nowadays in 2022. If you’re among the many Americans with bad credit, you may think that...

3 weeks ago
NON-occupy borrower on conventional loan

Adding Non-Occupying Co-Borrower Into Conventional Loan

In some situations, you might require assistance to bring your house ownership aspirations to reality. You may be able to co-borrow with a non-occupant if you’re looking for a home and don’t meet the financial criteria for a conventional mortgage loan. Most individuals would want to own their own homes. Especially for the younger generation...

3 months ago
5/1 Adjustable-Rate Mortgage : How ARMs Work

5/1 Adjustable-Rate Mortgage : How ARMs Work

In this article, we will discuss and cover 5/1 Adjustable-Rate Mortgage and how ARMs work. Ever want to know What is a 5/1 ARM adjustable-rate mortgage but simply haven’t taken the time to read up about it. You probably have heard about these types of mortgages during the financial crisis. But the truth is that...

3 months ago
Home Loans For Self-Employed Borrowers

Home Loans For Self-Employed Borrowers With No Income Docs

In this article, we will discuss and cover qualifying for home loans for self-employed borrowers with no income documentation required.  In this blog,  we will present all types of home loans for self-employed borrowers. Homebuyers who own their business without qualified income can qualify for home loans for self-employed borrowers without income tax returns. You...

4 months ago
USDA Loans

What are the USDA Loan Requirements and Rates?

In this article, we will discuss and cover USDA loans for homebuyers in eligible rural areas. The USDA Rural Development Guaranteed Housing Loan program offers a special mortgage loan program that offers 100% financing to qualified borrowers. Unlike other loan programs, only homes in selected USDA Designated Areas in the United States qualify for USDA...

4 months ago
HUD Two To Four Unit Multi-Family Guidelines On Rental Income

Jumbo Loans After Bankruptcy Mortgage Loan Options

In this article, we will cover and discuss how to qualify for jumbo loans after bankruptcy. There are various government, conventional, and non-QM jumbo loans after bankruptcy mortgage loan options for homebuyers and homeowners needing to refinance. We will discuss and cover How To Qualify For Jumbo Loan After Bankruptcy. There are waiting period requirements...

4 months ago
Second Home Financing Versus Investment Mortgages

Second Home Financing Versus Investment Mortgages

In this blog, we will cover and discuss second home financing versus investment mortgages.  There are various reasons why homeowners want to purchase a second home. Fannie Mae second home financing has different mortgage guidelines than investment home mortgages. Investment home financing requires the following: larger down payment higher interest rates require 6 months of...

4 months ago
VA Loan Requirements in Alaska

VA Loan Requirements in Alaska

If you’re a veteran of the United States armed forces or currently serving, you may be eligible for a VA loan in Alaska.  Based on VA loan requirements in Alaska is a type of a mortgage loan that’s guaranteed by the U.S. Department of Veterans Affairs. This type of loan can be used to buy...

4 months ago
Jumbo Loans: What You Need to Know

Jumbo Loans: What You Need to Know

This article is about Jumbo Loans And The Types Of Jumbo Mortgages for homebuyers of higher-priced homes. The booming home prices nationwide have many homebuyers priced out of the housing market on government and conventional loans. Government and Conventional loan programs have maximum loan limits. The skyrocketing home prices are exceeding many folks going well...