Mortgage Guidelines On Late Payments In Past 12 Months

1. Mortgage Guidelines On Late Payments In Past 12 Months

* Mortgage Guidelines On Late Payments Versus Lender Overlays:
Borrowers can qualify for home loans with bad credit, prior bankruptcy, prior foreclosures, and outstanding collections.

- However, per Mortgage Guidelines On Late Payments normally require timely payments in the past 12 months
- Furthermore, Mortgage Guidelines On Late Payments on manual guidelines normally require timely payments in 24 months
- One or two late payments is not a deal killer with lenders with no overlays
- Many lenders with overlays require timely payments in the past 12 months

2. Loan Program Options In Qualifying For Mortgage With Recent Late Payments

* What are your options with late payments?

- NON-QM- NON-QM mortgages DO ALLOW for late payments
- Many late payments for that matter
- With more late payments or longer delinquencies, a larger down payment will be necessary
- These loans also allow for rolling 30-day late payments
- You may obtain NON-QM mortgages just one day after major housing events such as foreclosure, short sale, or deed-in-lieu
- We are experts in NON-QM lending
- If you feel your late payments will not allow you to get a mortgage, a NON-QM loan will be a good option for you
- For further questions or to go over your specific late payment scenario, please call Mike Gracz on 630-659-7644 or text us for a faster response
- We have seen every type of late payment possible! We are here to help seven days a week!

Gustan Cho Associates is one of the very few national direct lenders with no overlays on government and conventional loans. Gustan Cho Associates are also Non-QM and bank statement loans for self-employed borrowers experts. We are available 7 days a week, evenings, weekends, and holidays.

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* You want to know more, contact The Gustan Cho Team at 262-716-8151 or send a text message for a faster response.

* CHECK IF YOU QUALIFY:

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