How A VA Manual Underwrite Can Get You A Home With Zero Downpayment

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Timestamps:
0:00 VA Manual Underwrite is Awesome
0:45 Conditions for Manual Underwriting
1:30 Time to Begin The Underwrite (Nice)
2:15 Not All Lenders Do This
2:50 Ask for a Manual Underwrite
3:10 Contact Us to Sort It Out!
3:37 Tell me.. WHAT IS IT?
3:50 #1 Verify Housing/Rental History
4:20 #2 Credit Report and Late Payments
5:10 Helpful Advice (On Base, Landlord, Etc.)
8:30 Manual UW Exists Because Its Needed
9:05 Manuals Help With Lower Credit (550+)
9:50 You Will Own A House..
10:50 They’re Available, Call Me! :) at 707-478-0637
Licensing info: Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611 Branch Address: 1750 N University Drive, Coral Springs, Florida, 33071 Equal Housing Lender
For licensing, go to www.nmlsconsumeraccess.org
Top 1% in the nation 2016-2022 www.zerostressmortgage.com
NMLS 247743 Guaranteed Rate NMLS 2611
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AK - AK247743, AL - 72998, AR - Licensed, AZ - 1007541, CA - CA-DOC247743, CO - 100516570, CT - LO-247743, DC - MLO247743, DE - MLO-247743, FL - LO66900, GA - 70357, HI - HI-247743, IA - 33839, ID - MLO-2080247743, IL - 031.0054184, IN - 41478, KS - LO.0039219, KY - MC717200, LA - Licensed, MA - MLO247743, ME - Licensed, MI - 247743, MN - MN-MLO-247743, MO - MO-247743, MS-247743, MT - 247743, NC - I-189119, ND - NDMLO247743, NH - Licensed, NM - Licensed, NV - 66544, NY - Licensed, OH - MLO-OH.247743, OK - MLO20600, OR - 247743, PA-247743, SC - MLO - 247743, SD - MLO.08498, TN - 205478, TX - Licensed, VA - MLO-40552VA, VT - VT247743, WA - MLO-247743, WI - 247743, WV - LO-247743, WY - 8203
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.
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[@sandycalame]

Love a manual underwrite! I always love the surprise in peoples voices when we return that call

[@JenniferBeeston]

me too;)

[@anthonygreene562]

Thanks for the smooth process Jennifer! Got the book in the mail yesterday... Reading it front to back...

[@JenniferBeeston]

❤️❤️❤️

[@cortevisblakely2821]

What if Ive been living in a family house for the last two years rent free ?

[@JenniferBeeston]

If you’ve been living in a family house, rent free for two years and you have to go via Manuel I would hope that you’ve either paid off a ton of debt or saved money during that. Because it would be an exception due to the lack of rental history.

[@ramosusarmy]

Thank you, Ma'am. Great information.

[@JenniferBeeston]

Thank you!

[@RealBen7]

Great video Jen. Can you make a VA IRRRL refinance updated video? I bought last year when interest rate was very high. It’s been over 210 days since first payment and 7 on time payments. I keep getting letters to refinance with VA IRRRL. My interest rate is in the mid 6% and some of them are offering rates 1.6% lower than my current interest rate. Is now a good time to use the VA IRRRL or wait till June when we get the first fed rate cut?

[@JenniferBeeston]

I would 100% suggest waiting right now. any of the lenders promising rates way lower are charging a lot in fees and you want to avoid that so hold out. I have a February Refinance update coming soon but I know there’s a lot of mail out there making stuff look a lot better than reality. They’re just trying to get you to call And then hoping you never look at the loan estimate or pay attention to the numbers

[@alexmlo1]

do you need a VOR for all home loans like fha? which ones do you need that

[@JenniferBeeston]

We need VOR on VA manual underwrites

[@jayha22]

Hi Jen! Great content as always. Have a debt question. Currently working with a debt relief company as of this year to reduce my credit card debt. Make my front-end ratio look better. Would getting a VA underwrite, auto or manual, be difficult for me, with the late payments, although the debts are settled, and I have documentation I used a debt relief company and paid them timely to handle the settlements?

[@JenniferBeeston]

Debt settlement can be an issue. The Kates are still going to come into consideration because even if you paid it in full, you still have the lates within last year. Basically I would expect that you will need to wait for a year from your last late and then go manual as debt negotiation can throw underwriting findings for awhile. Work on rebuilding your credit and stacking cash in the mean time.

[@jayha22]

Thank you so much for helping me with the question. I definitely understand. This gives me a more realistic timeline in regards to reaching out for underwriting after the debts are settled and a plan for what to do in the mean time. Thanks Jen!@@JenniferBeeston