How To Get A Mortgage Without Removing Disputes…

Have you been told by your loan officer that you could get a mortgage, but you will need to get disputes removed from your credit report first?

For those of you who have disputes, and either don’t have time to get them removed, or are having trouble getting them removed there is a way to get a mortgage with the disputes still on your report.

FHA manual underwrite.

FHA’s rule is that if you are disputing accounts who’s balances exceed an aggregate of $1,000 then the file is automatically downgraded to a manual underwrite.

…but, you can still get approved for a mortgage with a manually underwritten loan.

Just wanted you to be aware of this.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

Get Pre Approved For A Loan Here.

Get A Rate Quote Here.

Need A Mortgage Calculator?

My Previous Blog Posts

No Tax Returns Needed For FHA Loans…

I wrote about this the other day, but it’s pretty huge and I wanted to touch on it again.

It’s regarding alternative income documentation for FHA loans.

Normally you will need to provide pay stubs, w-2′s, and tax returns for income documentation to get a mortgage.

If there is an issue with your tax returns, or tax transcripts it can kill your loan.

We now have the ability to get your loan closed by just producing pay stubs, w-2′s, and a verification of employment.

…no tax returns.

…no tax transcript order from the IRS.

Keep this in mind if you or someone you know are having issues with tax returns in a mortgage process.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

Get Pre Approved For A Loan Here.

Get A Rate Quote Here.

Need A Mortgage Calculator?

My Previous Blog Posts

How To Buy A Manufactured Home Using A USDA Loan…

From time to time I get asked if a USDA loan can be used to purchase a manufactured home.

The answer is “yes”. …kind of.

The big limitation when using a USDA loan for a manufactured home is that the loan can only be used to purchase and place a brand new manufactured home on land.

If you are wanting to purchase an existing manufactured home with a USDA loan – you can’t do it. Only NEW homes.

If you have an existing manufactured home you wan to purchase you can use an FHA loan for this type of transaction.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

Get Pre Approved For A Loan Here.

Get A Rate Quote Here.

Need A Mortgage Calculator?

My Previous Blog Posts