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…
In this blog, we will cover and discuss Jumbo VA loans in high-cost counties and areas of the United States. Home prices vary from city to city, county to county, and state to state. For example, most areas in California are considered high-cost counties where the homes are higher than traditional median-priced homes. HUD and…
In this article, we will cover and discuss VA loan requirements and eligibility guidelines. Retired and active-duty members of the U.S. Military need to meet VA Loan Requirements and Guidelines to get their COE. Veterans, Service members, current or former activated National Guard members, or reserve members who meet certain rules can get a COE….
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 mortgage loan that’s guaranteed by the U.S. Department of Veterans Affairs. This type of loan can be used to buy a…
A VA Loan is a mortgage loan that is backed by the US Department of Veterans Affairs. VA Loans are available to eligible veterans, active duty service members, and their surviving spouses. VA Loans can be used to purchase or refinance a home, and can also be used to build or improve a home. There…
In this blog, we will cover and discuss qualifying for VA loans with collection and charged-off accounts. One of the frequently asked questions we get at Capital Lending Network is can I qualify for a VA loan with outstanding debts and collections. The answer is YES. Veteran homebuyers can qualify for VA loans with collection…
Homebuyers with prior credit issues and lower credit scores can qualify for VA loans with bad credit. A borrower’s credit score is what determines whether they can even qualify for a mortgage loan. In this blog, we will focus our topic on VA loans with bad credit. VA home loan with bad credit are the…
Per VA debt-to-income ratio requirements, there is no maximum DTI limit on VA loans if the borrower can get an approve/eligible per automated underwriting system (AUS) findings. The key to getting AUS approval is to have strong income and timely payments in the past 12 months. It is a well-known statistic that many Americans are…
VA residual income guidelines require borrowers have enough income set aside in savings or reserve funds after making all the household expenses. In other words, VA residual income is the overage in income after the borrower has met all of their minimum household monthly debt obligations. VA Residual Income Requirements For VA Loans Is Based…
Many mortgage borrowers are getting conflicting answers about the minimum credit score requirements when trying to qualify for a VA mortgage. Over 75% of our borrowers at Capital Lending Network, Inc. dba CLN Mortgage are folks who could not qualify at other lenders due to their overlays. They get conflicting reports when it comes to…