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ByApril Ramirez
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We will be covering the updated VA cash-out refinance mortgage loans. Gustan Cho Associates, empowered by NEXA Mortgage, LLC are mortgage brokers licensed in 48 states, including Washington DC, Puerto Rico, and the U.S. Virgin Islands. Gustan Cho Associates has lending partnerships with over 190 wholesale mortgage lenders. We will update our viewers on updated…
ByApril Ramirez
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This guide covers the loan officer document checklist. This article on the Loan Officer Document Checklist is a series of training worksheets that will be prepared and saved on the Mortgage Learning Center archives for both new and experienced loan officers who came on board at Gustan Cho Associates. All loan officers must ensure all files…
ByApril Ramirez
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In this blog, we will cover employer distance requirements on primary home mortgages. Employer Distance Requirements On Primary Home Mortgages is a requirement on all loan programs. Lenders want to make sure that the distance from the new home purchase to their work location is reasonable. FHA, VA, and USDA loans (Government Loans) only offer…
ByApril Ramirez
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In this blog post, we’ll delve into Mortgage Qualifying With Part-Time Income and Other Income and explore lending guidelines regarding various income sources. One significant challenge for numerous mortgage applicants is navigating a high debt-to-income ratio during the qualification process. Many lenders enforce overlays on debt-to-income ratios, which are lending criteria more stringent than those…
ByApril Ramirez
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This manual provides information on Job Relocation Mortgage Guidelines for individuals purchasing homes in a different state. According to these guidelines, individuals are eligible for a mortgage even if they have a new out-of-state job. This remains applicable in cases of job transfers and when securing a new position with a different employer. Job relocation…
ByApril Ramirez
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In this article, we will cover and discuss how credit disputes affect mortgage process and cause loan denial. The pre-approval stage of the mortgage process is the most important part of the overall mortgage loan process. Credit disputes are not allowed on FHA loans during the mortgage process unless the credit disputes are exempt, says…
ByApril Ramirez
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In this blog, we will cover and discuss the mortgage guidelines after bankruptcy on home purchases and refinance transactions. There is a mandatory waiting period after bankruptcy to qualify for government and conventional loans. Gustan Cho Associates offers non-QM loans. Mortgage Guidelines After Bankruptcy on non-QM loans do not require any waiting period after bankruptcy…
ByApril Ramirez
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Homebuyers should ask for seller concessions from the home seller to pay closing costs. There are two types of costs for a home purchase. The down payment and closing costs. Most homebuyers do not have to come up with closing costs. If structured the home purchase contract correctly, homebuyers do not have to worry about…
ByApril Ramirez
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This guide covers an overview of the best online payday loans. The best online payday loans can instantly get your money when needed. Deciding on which online loan service is the best depends on your current situation. Payday loans, also known as cash advance loans, paycheck loans, or payday advances, are short-term, high-interest loans typically…
ByApril Ramirez
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In this blog, we will explain how Gustan Cho Associates goes above and beyond for their clients by having strong lending partnerships with the best wholesale mortgage lenders for non-prime loans with fair pricing on rates. We will cover and discuss the difference between using mortgage brokers versus mortgage bankers. Christian Sorenson, a wholesale account…
ByApril Ramirez
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This guide covers things that determines your mortgage rates on home loans. Mortgage rates are the interest rates that you pay for your mortgage loan. Many factors determine what mortgage rates will be offered to you. John Strange, a senior loan officer at Gustan Cho Associates, explains how no two borrowers will get the same…
ByApril Ramirez
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This guide covers SEO marketing for loan officers by co-branding with realtor partners with an all-in-one multi-functional loan origination website designed for loan officers. The SEO marketing for loan officers’ all-in-one multi-functional portal focuses on generating organic mortgage traffic and leads. Each multi-purpose and functional mortgage loan origination website is custom designed for each mortgage…
ByApril Ramirez
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This guide covers buying spec home by builders versus building new home. Buying Spec Home by home builders can offer many benefits for home buyers. Spec homes are new-construction homes that have already been built and are furnished. John Strange of Gustan Cho Associates defines a spec home, also called a builder’s model home, as…
ByApril Ramirez
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This guide will cover the recent trends and issues in mortgage regulations for homebuyers and homeowners. We now have an update on recent trends and issues in mortgage regulations. Recent Trends And Issues In Mortgage Regulations for RESPA and HUD are ongoing. The implementation of the Consumer Financial Protection Bureau to be the enforcement agency of…
ByApril Ramirez
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This article will cover how the mortgage loan underwriting process works. The qualification and the pre-approval process are the most important out of the mortgage process. The mortgage loan underwriter is the person that decides whether or not to approve a mortgage loan application. The mortgage underwriter is also the person who decides to issue a…
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