What is considered bad or low credit scores? There is more to credit than just the score when it comes to getting approved for a home loan. Just because your credit score is under 620 and you are labeled “Fair” to “Very Poor” credit doesn’t mean you cannot get approved for a home loan. Example 1: You… [Read More]
VA Key Underwriting Criteria There is no maximum debt ratio. However, the lender must provide compensating factors if the total debt ratio is more than 41 percent. There is no maximum loan amount. However, VA does limit its guaranty. Veterans can borrow up to $484,350 without a down payment in most of the country and… [Read More]
What is a NO Overlay Lender you might Ask? Access Capital Group, Inc. is a NO Overlay Lender meaning we approve loans to the Investor Guidelines and have done so since 2001. A “Lender Overlay” is a guideline (or set of guidelines) on top of the actual investor guidelines. An investor would be Fannie Mae,… [Read More]
2019 LOAN LIMITS NOW ALLOWED ON CONVENTIONAL PRODUCTS As announced today by the Federal Housing Finance Agency (FHFA), the standard and high-cost area loan limits for Fannie Mae and Freddie Mac are increasing. The base loan limit in most of the country will be $484,350, which represents a 6.9% increase over the 2018 limit. All… [Read More]
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