The team at Capital Lending Network, Inc. (CLN Mortgage) has helped many first-time homebuyers enter the housing market. As millennials currently make up the majority of first-time homebuyers, many of them are taking a different approach when it comes to buying a home. Census data show millennials tend to live closer to major cities where…
In this blog, we will be covering the FHA waiting period after short sale 2023 mortgage guidelines. HUD, the parent of FHA, along with other mortgage agencies such as VA, USDA, Fannie Mae, Freddie Mac has mandatory waiting period requirements after short-sale and/or other housing events. FHA waiting period after short sale requirements is a…
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…
As expected, HUD, the parent of FHA, announced the FHA Loan Limits Increases for 2022, HUD announced the new FHA loan limit will be increased to $422,680 on single-family homes effective January 1st, 2022. Although the new maximum loan limit takes effect on January 1st, 2022, many mortgage companies such as Capital Lending Network, Inc….
In this blog, we will be covering and discussing lender approval with 500 FICO on FHA and VA loans. We have seen every credit profile from a perfect 850 credit score all the way down to credit scores in the 400s. How to get up to 600 and over if your credit score is low…
In this blog, we will cover and discuss qualifying for an FHA loan after a short sale. Homeowners with a prior short sale can qualify for an FHA Loan After A Short Sale And Foreclosure as long as they meet the mandatory waiting period after the short sale and re-established credit. Most lenders do not…
In this article, we will discuss and cover FHA cash-out refinance mortgage guidelines on FHA loans. Home prices have been appreciating since 2011 with no signs of correction. It seems like the real estate market is going strong. Housing demand for housing throughout the United States has been consistently strong. Alarming High Prices of Homes…
Homebuyers with prior bad credit can qualify for FHA Loans With Collection Accounts. Outstanding collection accounts do not have to get paid to qualify for an FHA loan. FHA loans are the most popular loan program for homebuyers with bad credit and outstanding collection accounts. Will I Get Approved For An FHA Loan With Collection…
FHA Loans With Recent Late Payments? Can I qualify for FHA Loan With Bad Credit? Can I qualify for FHA Loan with outstanding collections and charge-off accounts without having to pay them? The answer to this question is yes to qualify for FHA Loan with bad credit. It is possible to get a home loan…
If you’re looking for FHA lenders for bad credit, you may be wondering if it’s possible to get approved for a mortgage. While bad credit can make it more difficult to qualify for a loan, it’s still possible to get an FHA loan with a credit score of 580 or higher. In this blog post,…