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ByRonda Butts
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Appraisal Review in Mortgage Underwriting Process: Your Guide to Success in 2024 Buying a home is one of the most exciting moments in life, but it comes with some steps that might seem complicated at first. One of those key steps is the home appraisal and its review during the mortgage underwriting process. Understanding how…
ByAnngelli Abenes
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FHA Appraisals Versus Home Inspections: Why You Need Both to Make a Smart Home Purchase in 2024 When buying a home with an FHA loan, two key steps can make or break your experience: the FHA appraisal and the home inspection. But what’s the difference between them, and why do you need both? Whether you’re…
ByAnngelli Abenes
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In this guide, we’ll explain everything you need to know about FHA appraisal guidelines and what your home needs to check off the list for 2024 FHA loans. We’ll also examine how these FHA appraisal guidelines compare to regular loan appraisals and point out what’s different. This is made to make things clearer for those…
ByAlex Carlucci
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This guide covers the home appraisal process timeline during the mortgage process. Gustan Cho Associates will update you on the appraisal process timeline during these tough times. The post-coronavirus ERA, times of soaring rates, out-of-control inflation, and a shortage of home inventory has affected every industry, including the real estate and mortgage sectors. In times…
ByAnngelli Abenes
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HUD Guidelines On FHA Property Standards is the home needs to be safe, secure, and habitable. No need to be alarmed if the home is old. As long as the home is secured, safe, and habitable, it will pass FHA Home Appraisal.
ByGustan Cho
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The Federal Housing Administration (FHA), a segment of the United States Department of Housing and Urban Development, was established in 1934. Its primary mission is to foster homeownership among Americans, particularly those with moderate incomes, less-than-perfect credit, and minimal down payments. The FHA plays a vital role not as a lender but as a government-sponsored…
ByGustan Cho
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This blog will discuss the appraisal transfer policy from one lender to another when a borrower changes mortgage lenders. As you know, we do not have any LENDER OVERLAYS at Gustan Cho Associates. Meaning we can help more borrowers than most lenders. FHA and VA home appraisals are generally transferrable from one lender to another….
ByAlex Carlucci
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In this blog, we will discuss and cover appraisal issues during the home buying and mortgage process. The word “appraisal” can be an ugly word when things don’t go right. All lenders require a home appraisal on borrowers purchasing and/or refinancing a home. The home appraisal is the report lenders rely on as the collateral…
ByDustin Dumestre
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This guide covers upfront costs for mortgage loans prior to closing. What would you do as a borrower if a lender asked for upfront costs for mortgage loans? The mortgage process is time-consuming and involves a lot of work for both the lender and the loan applicant. The borrower must complete a 4-page mortgage loan…
ByRonda Butts
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This article will cover and discuss when mortgage lenders require two appraisals. In general, only one appraisal is required—however, there are cases where lenders require two appraisals. Two appraisals are required because the lender does not feel comfortable with the security of the property. Lenders are not real estate investors. They have no interest in…
ByGustan Cho
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This guide deep dives into the significance of the FHA and VA Amendatory Clause. We will explore the implications of these clauses for borrowers and underscore their crucial role in the loan process. It’s essential to note that HUD, the overseeing entity of FHA and VA, does not originate or fund loans. Instead, these government…
ByAlex Carlucci
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In this blog, we will discuss and cover the FHA appraisal transfer from your old lender to a new mortgage lender. FHA loans are the most popular loan program in the United States. The United States Department of Housing and Urban Development (HUD) is the parent of the Federal Housing Administration (FHA). HUD permits FHA…
ByAlex Carlucci
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This guide covers low appraisal on home purchase and solutions for mortgage borrowers. We will discuss solutions to low appraisal on home purchase. Low appraisal on home purchase can be avoided if the sellers’ price out the home appropriately prior to listing the home. Low appraisals often will delay the mortgage and closing process. Appraisers…
ByRonda Butts
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This article examines and clarifies the criteria for FHA Appraisals Versus Conventional Appraisals. There are significant differences in the guidelines governing FHA appraisals versus conventional appraisals. Whenever individuals seek home financing, they must undergo a home appraisal according to their lenders’ requirements. The mortgage offered by lenders to borrowers is dependent on the results of…
ByGustan Cho
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In this blog, we will discuss and cover walking away after a home inspection. A home inspection on a home purchase is normally done by homebuyers before the home appraisal. Home inspections are not required by mortgage lenders. However, it is highly recommended for homebuyers to get a home inspection done. There are instances when…
ByGustan Cho
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This ARTICLE On Appraisals Will No Longer Be Required On Homes Under $400,000 Was PUBLISHED On September 29th, 2019 Appraisals Will No Longer Be Required On Homes Under $400,000 once the Federal Reserve Board signs off on this bill. The news of Appraisals Will No Longer Be Required On Homes Under $400,000 will come into…
ByGustan Cho
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5 Must Know Facts On How To Appraise Your House Was Written By Staff Writer at Gustan Cho Associates A house appraisal is very important when selling your home, buying a new home through a mortgage loan, or refinancing an existing mortgage. Whether you’re a homeowner, seller or buyer, you need to understand how the…
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