Unfortunately, bad things happen to good people and I can speak first hand of the consequences, stress, emotions and financial difficulties that arise from a… Read More »Divorce, Real Estate and You! What you need to know.
Collections are credit accounts that have not been paid over a period of time. FHA defines collection accounts as “a Borrower’s loan or debt that has been submitted… Read More »How Do Collection Accounts Affect A Mortgage Application?
Thinking of purchasing a three or four unit residential building using FHA financing? It’s a great opportunity. FHA allows one-unit to four-unit purchases for only 3.5% down payment. FHA defines a three or four unit property as “a single family residential property with three or four individual dwellings”.
There are two basic differences from a financing an FHA one or two-unit property versus an FHA three or four-unit property.
A manual underwrite by FHA standards is when a loan applicant cannot obtain an Approve/Eligible status through the AUS (Automated Underwriting System) and was considered… Read More »New 2019 FHA Manual Underwriting Guidelines – What You Need to Know!