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ByAlex Carlucci
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In this article, we will cover and discuss the steps to selling a house with a realtor fast for top dollar. We interviewed John Hartnett, a veteran licensed Illinois real estate agent who is an expert in representing both home sellers and buyers in the Chicagoland area. Do you want your home to look like…
ByAlex Carlucci
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This article will cover qualifying for non-QM loans for self-employed borrowers’ home purchases with no income tax returns. In 2023, over thirty million people were self-employed in the United States. That is about 10% percent of the workforce. Lenders must follow strict and specific guidelines for self-employed borrowers on traditional mortgage loans with traditional income…
ByAlex Carlucci
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In this article, we will be comparing FHA loans vs VA loans. VA loans by far are the best mortgage loan program in the nation. The U.S. Department of Veterans Affairs is the federal government agency administering the agency mortgage guidelines on VA loans. The role of the Veterans Administration (VA) and the U.S. Department…
ByAlex Carlucci
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HUD, the parent of FHA, has strict rules on financing home buyers who are buying property flips.
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…
ByAlex Carlucci
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This guide covers how Illinois tax burden is the least friendlyy in the U.S. Illinois is making news again. According to a new study, Illinois Tax Burden makes the state as the least friendly taxed state in the nation. The state already made the #2 spot as having the highest property tax in the nation….
ByAlex Carlucci
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This guide covers bankruptcy for Illinois may be a possible solution to save the state. Bankruptcy for Illinois may be an option for the state due to their many years of financial mismanagement. Illinois, along with a few other states, has been struggling with budget deficits for many years. Prior to the coronavirus pandemic, the…
ByAlex Carlucci
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In this blog, we will cover and discuss the steps to buying your first home in Wyoming. Buying your first home in Wyoming should not be stressful. It should be an exciting point in your life where you are making your single largest investment and starting a new chapter in your life as a homeowner….
ByAlex Carlucci
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This Article Is About How Loan Officers Qualify Borrowers And Issue Pre-Approvals. Understanding how loan officers qualify borrowers is crucial in the mortgage process. The pre-approval process is the most critical stage, setting the foundation for the mortgage journey. Often, last-minute loan denials occur because the loan officer initially needed to adequately qualify the borrowers. The mortgage industry is…
ByAlex Carlucci
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This guide covers Sacramento California home purchase with bad credit and credit scores down to 500 FICO. Sacramento is the capital of California and is located in the northern-most point of California’s Central Valley. Being the sixth-largest city in California, and home to the Sacramento Kings and the Sacramento River Cats, Sacramento is a very…
ByAlex Carlucci
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This guide covers qualifying for a home loan without spouse mortgage guidelines. There are many reasons why home buyers want or need a home loan without spouse on the mortgage note. Homebuyers can qualify for a home loan without spouse on the mortgage note. They can have the spouse on the deed as joint owners…
ByAlex Carlucci
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In this article, we will be discussing and covering manual underwriting with extenuating circumstances and going over some common case scenarios. We will go over some of the recent manual underwriting with extenuating circumstances success stories at Gustan Cho Associates. Many of our clients contact us with general questions surrounding manually underwritten mortgage loans. The…
ByAlex Carlucci
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This guide covers unexpected home buyers expenses payment shock for borrowers. The American Dream is still owning your own home. More millennials are getting qualified for a mortgage and are shopping for their first home. Rent prices are soaring nationwide. In some areas, a mortgage payment is less than the market rents. VA and USDA…
ByAlex Carlucci
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This guide covers comparison of mortgage rates on purchase and refinance loans. Mortgage rates have been steadily going up to all time highs for home buyers shopping for a home loan or homeowners thinking of refinancing their current home loans. Mortgage rates have been steadily increasing and are at the highest rates since the 1980’s….
ByAlex Carlucci
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This guide covers buying an investment property using a conventional loan. Buying an investment property using a conventional loan with have tighter restrictions, lower debt-to-income ratio, mortgage loan-level pricing adjustments, and higher rates from Fannie Mae and Freddie Mac. Mortgage giants Fannie Mae with regards to buying an investment property using a conventional loan. Fannie…
ByAlex Carlucci
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We will be covering qualifying and getting approved for VA mortgage loans in Arizona. Arizona is one of the most migrated states in the nation. Tens of thousands of families are moving to the state due to the great economy, low taxes, affordable housing, and low cost of living. Thousands of Californians are moving to…
ByAlex Carlucci
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In this blog, we will discuss and cover qualifying for a VA loan with prior mortgage included in bankruptcy. VA home loans are the best mortgage loan program in the United States. Only active servicemen and women, retired veterans, reservists, spouses of deceased veterans, and National Guard members of our military with a valid Certificate…
ByAlex Carlucci
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Many people have no credit score. This can make getting a mortgage to buy a home harder. However, it’s not impossible. You can re-establish credit after bankruptcy or other serious credit problems. And if you have no credit score at all, lenders can approve you with a non-traditional credit report.
ByAlex Carlucci
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This guide covers what is PMI on conventional loans. What Is PMI? One of the most common questions I often get asked by my borrowers is what is PMI or private mortgage insurance. There are two types of mortgage insurance: Mortgage insurance premium and private mortgage insurance (PMI). Mortgage Insurance Premium is for FHA Loans….
ByAlex Carlucci
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In this blog, we will cover the Freddie Mac HomeOne Mortgage Loan Program. Fannie Mae and Freddie Mac are the two government-sponsored enterprises (GSE). Freddie Mac and Fannie Mac sets the guidelines and lending requirements for conventional loans. The role of Fannie Mae and Freddie Mac is to provide market stability and liquidity by purchasing…
ByAlex Carlucci
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This guide covers home purchase and refinance Jumbo loan mortgage loan options. There are traditional and non-qm jumbo loans for owner-occupant homes, second homes, and investment homes. Many self-employed homebuyers of higher-end homes can afford a high-balalnce jumbo mortgage loan, however, do not qualify due to the hefty write off on their income tax returns….
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