In this article, we will discuss and cover the FHA Chapter 13 Bankruptcy Guidelines on purchasing and refinancing FHA loans. The housing market is booming. Home prices are now at a six-year high. Many homebuyers are being priced out of the market. Due to the skyrocketing home prices, the FHFA increased 2022 conforming loan limits...
This Article Is About Mortgage After Bankruptcy And Foreclosure Waiting Period Guidelines Bankruptcy is not the end of the world. Actually, it is the opposite. Bankruptcy is a federal law giving consumers a second chance in their financial life. Bankruptcy will enable consumers who are deeply in debt to get those debts discharged and/or restructure...
In this blog, we will cover and discuss how to pass the NMLS MLO exam the first time. The 125-question NMLS exam has a reputation for being tricky. Many test-takers say out of four answers to choose from, two of them can easily be eliminated, but the final two left answers are always a 50/50...
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...
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...
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...
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...
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...
In this blog, we will cover and discuss how to improve credit scores to buy a house. There are minimum credit score requirements to qualify for a mortgage. What is your FICO at 400 and how to improve your credit score to buy a house? We will try to explain all possible case scenarios below....
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...
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 FHA 203k loan requirements on fixer-uppers. HUD, the parent of FHA has an acquisition and renovation loan program for homebuyers of fixer-uppers. FHA 203k Loans allows home buyers to purchase homes that need renovation. What Type of Work Can You Do With FHA 203k Streamline Loans? The...
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...
Many current condotel owners nationwide still have high-interest rates on their condo hotel mortgage loans. Some have interest rates as high as 9%. Capital Lending Network, Inc. has a large clientele base of condotel borrowers throughout the United States. We are licensed in multiple states and can help condotel buyers and owners with condotel financing...
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...
If you are in the process of a home loan, you know the appraisal process is one of the most stressful parts of the entire transaction. Lately, the team at Capital Lending Network, Inc. has received numerous calls and inquiries surrounding appraisal requirements and appraisal transfer policies. In this blog, we will detail the process...