Resources and News

DSCR Second Mortgage for Investment PropertiesLooking to cash out on an investment property, but your current mortgage has a good interest rate? A debt-service coverage ratio second mortgage for investment properties is a solution to tap into the equity while leaving the first mortgage untouched. These types of loan are...

DSR Loan for Investment Properties | Debt Service Ratio CalculatorThe DSR loan, also known as a DSCR loan, is a way to qualify for an investment mortgage without personal debt-to-income ratios.DSR stands for debt-service ratio.DSCR stands for debt-service coverage ratio.The DSR mortgage comes in 30 year fixed rates and a...

Calculating Self-Employed Income for a MortgageCalculating self-employed income for a mortgage can depend on whether you are taking the traditional or non-qualified mortgage route. When calculating self-employed income, underwriters prepare a written evaluation of analysis by using a worksheet to break down income. The reason why an underwriter uses a...

FHA Manual Underwriting & VA Manual Underwriting GuidelinesAre you looking for FHA manual underwriting or VA manual underwriting guidelines? Not all lenders are willing to manually underwrite government loans due to mortgage lender overlays. There are factors that can trigger a loan to be manually underwritten or the risk can...

Mortgage Pre-Approval Process | Properly Pre-Approved for a MortgageeLooking for a fast mortgage pre-approval? The mortgage pre-approval process is one of the most important first steps to home ownership and the mortgage process. One major reason why borrowers stress during the loan process is because they have not been pre-approved...

2 to 4 Unit FHA Multi-Unit RequirementsFinancing for a multi-unit (2 to 4 unit) is possible with a FHA multi-unit mortgage. The down payment is 3.5% with a 580 FICO or higher. Owner occupied multi family financing is desirable to borrowers who plan to occupy one of the units and...

VA IRRRL Guideline Requirements | Non-Credit Qualifying StreamlineIf you are looking for VA IRRRL guidelines, the loan is not hard to qualify for. The non-credit qualifying streamline has limited documentation, which does not require a full credit report, written Verification of Employment, or appraisal. The two major VA IRRRL requirements...

FHA Streamline Guidelines on Credit & Non-Credit QualifyingFHA streamline guidelines can vary by lender if they have internal guidelines. The credit and non-credit qualifying streamline can be a great opportunity to save you money. The two biggest qualifying factors are determining if you meet the mortgage payment history and FHA...

Appraisal Wavier Requirements for Conventional Loans | No AppraisalLooking to see if a property is eligible for a property inspection waiver through the Automated Underwriting System? A Fannie Mae appraisal or Freddie Mac appraisal waiver eligibility is determined during the pre-approval process. It is important that a Loan Originator checks...

Conventional Loan Appraisal Requirements | Appraisal Guidelines Looking to see if a property meets conventional loan appraisal requirements? Conventional loan roof requirements seem to be the most common issues when it comes to appraisals. Going over a conventional loan appraisal checklist can be cost effective to prevent any extra fees...