Fannie Mae-Freddie Mac Charge-Off Guidelines
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Fannie Mae-Freddie Mac Charge-Off Guidelines On Conventional Loans

ByAlex Carlucci Posted on

This blog post will explore the Fannie Mae-Freddie Mac charge-off guidelines applicable to conventional loans. Gustan Cho Associates has recently received numerous inquiries regarding conventional mortgages and charged-off accounts. These queries have come from prospective borrowers and loan officers, emphasizing the importance of educating our readers on this topic. The Fannie Mae-Freddie Mac Charge-Off Guidelines…

Non-QM Down Payment Guidelines On Home Purchase
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Non-QM Down Payment Guidelines on Home Purchase

ByAlex Carlucci Posted on

This guide covers non-QM down payment guidelines on home purchase. Non-QM down payment guidelines on home purchase for homebuyers on non-QM mortgages: If you are in the market for a mortgage, minimum down payment requirements are probably on your mind. In this blog, we will detail down payment requirements on the mortgage products we offer….

Bankruptcy Dismissal
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Mortgage Waiting Period Guidelines After Bankruptcy Dismissal

ByAlex Carlucci Posted on

In this article, we will cover and discuss when you can get a mortgage approval after bankruptcy dismissal. There are strict waiting period requirements after Bankruptcy on government and conventional loans. Consumers in debt can get the help of the United States Bankruptcy Courts for protection from creditors. Many consumers who file bankruptcy think it…

VA Refer-Eligible Findings Versus AUS Approval Guidelines
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VA Refer-Eligible Findings Versus AUS Approval Guidelines

ByAlex Carlucci Posted on

In this blog, we will discuss and cover VA refer-eligible findings versus AUS approval guidelines. The United States Department of Veterans Affairs commonly referred to as The VA, is the parent federal agency that administers VA Home Loans for the active and retired members of our Military.  In the complex real estate landscape, the intersection…

conventional refinance loan with no PMI
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Conventional Refinance Loan With No PMI

ByAlex Carlucci Posted on

Homeowners With FHA Loans Should Consider A Conventional Refinance Loan While Mortgage Rates Are At Historic Lows And Avoid Paying FHA MIP. Mortgage rates are at historic lows and many home values have skyrocketed in the past several years. Many homeowners with FHA loans can benefit by refinancing to a conventional mortgage and avoid paying LPMI.

Lender Versus Borrower Paid Mortgage Transactions
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Lender Versus Borrower Paid Mortgage Transactions

ByAlex Carlucci Posted on

In this blog, we will discuss lender versus borrower-paid mortgage transactions. Mortgage brokers can often opt to go with a borrower paid for by a mortgage borrower to save the borrower’s commissions. There is no such thing as free in the mortgage industry. The way mortgage rates charged is the higher the lender’s compensation, the…

Importance of Mortgage Qualification and Pre-Approval
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Importance of Mortgage Qualification and Pre-Approval

ByAlex Carlucci Posted on

This guide covers the importance of mortgage qualification and pre-approval. A pre-approval is when a home buyer or homeowner has completed a 1003 mortgage loan application and the loan officer is confident the borrower qualifies for a mortgage. A pre-approval should be issued once the loan originator has run credit, ran the file through the…

New Mortgage Programs
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New Mortgage Programs For Homebuyers and Investors

ByAlex Carlucci Posted on

In this article, we will cover and discuss new mortgage programs for homebuyers and real estate investors. We have over 160 wholesale lending partners and hundreds of new mortgage programs for homebuyers and real estate investors. Gustan Cho Associates had an amazing start to the New Year with new mortgage programs like no-doc loans, stated-income…

Things To Avoid When Repairing Your Credit
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Things To Avoid When Repairing Your Credit For a Mortgage

ByAlex Carlucci Posted on

This guide covers things to avoid when repairing your credit for a mortgage approval. There are things to avoid when repairing your credit for a mortgage approval. Mortgage applicants need to realize that low credit scores mean higher mortgage interest rate. Lenders view lower credit score borrowers as higher risk. With higher risk, comes higher…

VA Loan Denial Due To Overlays
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VA Loan Denial Due to Overlays

ByAlex Carlucci Posted on

This article covers getting a VA loan denial due to overlays and qualifying with a different lender. In this article, we will cover the VA agency guidelines, what are VA lender overlays, VA agency guidelines versus overlays, and why Gustan Cho Associates can approve VA loans when other lenders can’t. VA loans are hands down…

The Five C's of Mortgage Underwriting
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The Five C’s of Mortgage Underwriting Leading To CTC

ByAlex Carlucci Posted on

This guide covers the five C’s of mortgage underwriting leading to clear-to-close. With mortgage loans, the risk analysis is critically important, so it is a good idea to review the file in detail before even submitting it. It is the responsibility of the mortgage underwriter to analyze the layered risk of the lender and the…

Property Taxes Can Determine Buying Power
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Property Taxes Can Determine Buying Power on Homes

ByAlex Carlucci Posted on

This guide covers how property taxes can determine buying power on home purchase. Every homeowner needs to pay property taxes. Property taxes are mandatory on all properties in the United States. Property taxes can determine buying power for home buyers because it affects debt-to-income ratios. There is no set percentage of the home value that…

Denied For FHA Loan With Good Credit on Home Purchase
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Denied For FHA Loan With Good Credit on Home Purchase

ByAlex Carlucci Posted on

This guide covers the frequently asked question can I get denied for FHA loan with good credit on home purchase. You can qualify for an FHA loan with credit scores down to 500 but you will not get an FHA loan approval with a 700 credit score if you have late payments in the past…

HUD Late Payment Mortgage Guidelines
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HUD Late Payment Mortgage Guidelines During Chapter 13

ByAlex Carlucci Posted on

This blog will discuss HUD late payment mortgage guidelines during the Chapter 13 Bankruptcy repayment plan. HUD and VA are the only two mortgage loan programs that allow borrowers in an active Chapter 13 Bankruptcy repayment plan to qualify for an FHA and VA loan. However, the key is to have been timely on all…

When Am I Committed To Mortgage Lender
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When Am I Committed To Mortgage Lender For a Home Loan

ByAlex Carlucci Posted on

In this article, we will cover and discuss when am I committed to mortgage lender for a home loan. Mortgage loan officers do a lot of work in order to get a clear to close from the mortgage underwriter. A loan officer nor a lender can charge any fees, costs, or commissions up front until…

Chicago Mortgage Refinance- The Risks Associated with Refinancing
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Chicago Mortgage Refinance Lending Guidelines

ByAlex Carlucci Posted on

This guide covers Chicago mortgage refinance loan process for homeowners. Many homeowners refinance mortgage loans because they want to reduce their mortgage rates thus lowering their monthly payments. In this article, we will cover and discuss the benefits of refinancing a home mortgage during these times of historic low-interest rates. Mortgage refinancing is a process…

Low Rates With High FICO
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Can I Get Low Rates With High FICO For a Mortgage

ByAlex Carlucci Posted on

When saving money buying a house, remember one key thing, low rates with FICO credit scores. This article will cover how to get low rates with high FICO for mortgages. It is possible for a homebuyer to qualify for a home loan with bad credit. Borrowers who do not meet the minimum credit scores to…

Government and Conventional Loans After Bankruptcy
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Government and Conventional Loans After Bankruptcy

ByAlex Carlucci Posted on

This guide covers government and conventional loans after bankruptcy and foreclosure. There are mandatory waiting period requirements on government and conventional loans after bankruptcy and foreclosure. Government loans are residential home loans insured by a government agency. The mandatory waiting period on government and conventional loans after bankruptcy and foreclosure depends on the individual loan…

Subprime Loans and NON-QM Mortgage Guidelines
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Subprime Loans and NON-QM Mortgage Guidelines

ByAlex Carlucci Posted on

This guide covers subprime loans and non-QM mortgages. Borrowers who have bad credit or not enough income due to self-employment or other reasons may not qualify for a conventional loan or a low down payment loan offered by FHA, USDA, or VA. Borrowers who cannot qualify for traditional conforming mortgages may consider subprime loans and…

How Can I Qualify For W2-Only Income Mortgages
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How Can I Qualify For W2-Only Income Mortgages

ByAlex Carlucci Posted on

Homebuyers with pending income tax returns or significant unreimbursed business expenses may be eligible for W2-only income mortgages. Gustan Cho Associates doesn’t mandate income tax returns from borrowers unless the Automated Underwriting System specifically demands a two-year tax return for qualification. We offers W2-Only Income Mortgages on the following loan programs: FHA loans VA loans…