In this blog, we will explain how to shop for the best mortgage lenders. The way to do comparative shopping of mortgage lenders can save you tens of thousands. Most people normally go with the first lender they contact. Mortgage rates vary widely between lenders. Mortgage rates even vary among independent P and L mortgage…
This Article is about qualifying for mortgage loans for bad credit homebuyers. Homebuyers and homeowners can qualify for mortgage loans for bad credit with low credit scores on purchase and refinance transactions. There are many mortgage loans for bad credit available. The housing market is bullish and booming and is expected to continue. Homebuyers do…
Always consult with a loan officer first before starting credit repair or hiring to do credit repair so you can qualify for a mortgage. Collection Accounts and charged-offs do not have to be paid to qualify for a home mortgage. Credit repair during the mortgage process can backfire. In most cases, credit repair does not…
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…
It is easier to get an automated underwriting system (AUS) on FHA versus VA loans with late payments in the past 12 months. Many home buyers go with FHA Versus VA loans even though they have a VA certificate of eligibility (COE) if they cannot get an AUS approval on VA loan AUS and cannot…
Rapid Rescore By Lenders Increases Credit Scores In Days versus weeks and/or months if you wait until it updates until the next cycle. When its time for you to buy a home and you need to get a home loan you will want a good, if not great credit score. The better the credit score,…
The team at Capital Lending Network, Inc. often get asked daily by our viewers on How To Get A Mortgage With Late Payments And Get AUS Approved. Timely payments is one of the things mortgage underwriters scrutinize when underwriting borrowers. You can have prior bad credit, a prior bankruptcy, a prior foreclosure, outstanding collections and…
Mortgage Guidelines On Charged-Off Accounts do not require borrowers to pay outstanding non-mortgage charged-off accounts to be paid off on owner-occupant primary home government and conventional loans. This holds true no matter how large the outstanding charge-off amount is. Fannie Mae and Freddie Mac only exempt charged-off accounts on owner-occupant conventional loans ONLY. This rule…
A judgment is the worst credit tradeline any consumer can have on their credit report. A judgment means a creditor took the necessary steps legally and took the debtor to court. The court found the case in favor of the plaintiff and issued a judgment on the defendant. It is not up to the court…