Mortgage After Short Sales in Chicago
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Mortgage After Short Sales in Chicago FAQ and Answers

ByAlex Carlucci Posted on

This guide covers approved mortgage after short sale in Chicago FAQ and answers. Ronda Butts covers getting approved for a mortgage after short sales in Chicago. Interview with Jeff Wolff, President of Illinois Distressed Property Solutions. Jeff has been in the business for over 15 years. He negotiated hundreds of short sales with multiple lenders….

Investment Property Loans
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Investment Property Loans | Non-QM, DSCR, No-Doc Mortgages

ByAlex Carlucci Posted on

What Are The Eligibility Mortgage Guidelines On Investment Property Loans? Real estate investors can take advantage of the new non-QM and alternative loan programs for investment properties. Dozens of non-QM loan programs have been launched recently for real estate investors.

Loan Estimate Versus Closing Disclosure
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Loan Estimate Versus Closing Disclosure Closing Costs

ByAlex Carlucci Posted on

Closing costs on the Loan Estimate versus Closing Disclosure will most likely be different. The itemized closing costs on the Loan Estimate (LE) is normally over-disclosed since most costs and fees were estimated on the very high end. If closing costs are higher than 10% of the disclosed amount, the loan officer/lender is liable for…

How to Buy a House With Bad Credit
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How To Buy a House With Bad Credit

ByAlex Carlucci Posted on

This guide covers how to buy a house with bad credit.  Many folks assume you cannot get a mortgage loan with bad credit. Many non-believers frequently ask can you please help us how to buy a house with bad credit. The anwer to the frequently asked question how to buy a house with bad credit…

Waiting on Short Sale To Qualify For FHA Loans
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No Waiting Period on Short Sale Mortgage Guidelines

ByAlex Carlucci Posted on

This article cover no waiting period on short sale mortgage guidelines. For those who were homeowners during the economic meltdown of 2008 probably have fallen victims of the real estate market crash where their home values have plummeted. Some homeowners have lost over half the value of their homes in areas of  California, Illinois, Florida,…

VA Credit Dispute
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VA Credit Dispute Guidelines During Mortgage Process

ByAlex Carlucci Posted on

IIn this blog, we will discuss and cover VA credit dispute guidelines during the mortgage process. VA loans is hands down the best mortgage loan program in the U.S. However, not everyone can qualify for VA loans. Only active or retired members of the U.S. Armed Forces with a certificate of eligibility (COE) can only…

How Does The Federal Reserve Affect Mortgage Rates

How Does The Federal Reserve Affect Mortgage Rates

ByAlex Carlucci Posted on

This guide on how does the federal reserve affect mortgage rates was updated on June 16, 2023. Dustin Dumetre of Gustan Cho Associates updates this week’s mortgage news on his Friday weekly mortgage minutes. The team at Gustan Cho Associates had another busy stellar week with record mortgage loan applications and loans submitted. Homebuyers still…

What is a Mortgage
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Understanding The Basics of What is a Mortgage

ByAlex Carlucci Posted on

This guide covers understanding the basics on what is a mortgage. We will cover and discuss the meaning of what is a mortgage. Unless you are thinking about buying a new home or are a homeowner thinking about refinancing, most Americans really do not care to know the basic understanding of mortgages. Many folks think…

Update Credit Report Fast
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Get Recent Update Credit Report Fast With a Rapid Rescore

ByAlex Carlucci Posted on

In this blog post, we’ll delve into the most recent methods to update credit report fast using rapid rescore to boost credit scores and meet mortgage qualifications or secure optimal rates. Lenders usually establish a minimum requirement for different loan programs, making credit scores very important when it comes to qualifying for a mortgage. Moreover,…

Fannie Mae Multi-Family Mortgage
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UPDATED 2-to-4 Unit Fannie Mae Multi-Family Mortgage

ByAlex Carlucci Posted on

This manual addresses the modifications in down payment and self-sufficiency for multi-family properties designated as owner-occupant primary residences by the Fannie Mae Multi-Family Mortgage Guidelines. The Fannie Mae Multi-Family Mortgage Guidelines for 2-to-4-unit residences reduce the down payment obligations for owner-occupant borrowers, decreasing it from 15% to 5%. Two-to-four-unit multi-family investment properties do not apply…

NON-QM Loan Guidelines
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NON-QM Loan Guidelines on Waiting Period After Foreclosure

ByAlex Carlucci Posted on

This guide covers NON-QM Loan Guidelines on waiting period after housing event . Everyone experiences hardship during some time in their lifetime. Some people lose jobs, some have serious health issues while others find financial difficulty in caring for an aging loved one. Regardless of the individual situation, you should know that there is always…

FHA Appraisal Transfer
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FHA Appraisal Transfer To A New Mortgage Lender

ByAlex Carlucci Posted on

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…

Two-Year Work History Mortgage Guidelines

Two-Year Work History Mortgage Guidelines | Employment Gaps

ByAlex Carlucci Posted on

This blog post delves into the crucial aspects of the Two-Year Work History Mortgage Guidelines. It explores the significance of maintaining a consistent employment record when seeking approval for a mortgage loan and addresses considerations related to employment gaps. The eligibility criteria for a residential mortgage loan hinge on two essential prerequisites. According to the…

Credit Tradelines Requirements
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Credit Tradelines Requirements To Qualify For Mortgage Loans

ByAlex Carlucci Posted on

In this article, we will delve into the credit tradelines requirements essential for mortgage loan application eligibility. The credit tradelines requirements on government and individual lenders set conventional loans. It’s crucial to emphasize that agency guidelines do not regulate credit tradelines. Individuals applying for FHA, VA, USDA, Fannie Mae, and Freddie Mac loans are not…

Low Appraisal on Home Purchase
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Low Appraisal on Home Purchase and Solutions For Borrowers

ByAlex Carlucci Posted on

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…

Gift Of Equity On Home Purchase
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Gift of Equity on Home Purchase Mortgage Guidelines

ByAlex Carlucci Posted on

In this blog, we will cover and discuss the gift of equity on home purchase mortgage guidelines. Many people want to keep the family home in the family. When the parents retire and downsize, mom and dad want to sell the home to one of their children at a discount. What does the gift of…

Moving To Another Owner-Occupied Home
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Moving To Another Owner-Occupied Home Without Selling

ByAlex Carlucci Posted on

In this blog, we will cover and discuss buying and moving to another owner-occupied home without selling their first home. There are strict rules and mortgage regulations with owner-occupant home financing. Gustan Cho Associates get countless calls from potential homebuyers about Moving To Another Owner-Occupied Home Without Selling their first home. There are several variables…