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ByDale Elenteny
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we will discuss the FHA Guidelines on Charge-Offs and Collections, crucial information for anyone seeking an FHA loan. These guidelines allow individuals with outstanding charge-offs and collection accounts to qualify for FHA financing. Despite such financial blemishes on your credit report, you may still meet the criteria for securing an FHA loan. Understanding these guidelines…
ByDale Elenteny
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You must first be eligible. Only servicemembers, honorably-discharged veterans and sometimes their families are eligible. VA underwriting guidelines are flexible, with no minimum credit score an no minimum down payment.
ByDale Elenteny
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In this blog, we will discuss and cover FHA vs conventional cash-out refinance mortgage loans and general rate and term refinance mortgage guidelines. HUD, the parent of FHA, has changed the FHA cash-out refinance guidelines for homeowners from 85% loan to value to 80% LTV. HUD requires FHA mortgage insurance premium on all 30-year fixed-rate…
ByDale Elenteny
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This blog post’ll delve into closing a closing mortgage under LLC. Typically, most lenders mandate that investment properties be closed under the individual’s name rather than that of a limited liability company (LLC). Many real estate investors opt to initially close the investment property under their names and transfer ownership to their LLC through a…
ByDale Elenteny
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Borrowers cannot qualify for a mortgage with defaulted federal student loans until the student loans are out of default.
ByDale Elenteny
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Is Timeshare Foreclosure Considered Mortgage Foreclosure? A timeshare is not considered real estate and is classified as an installment loan. Foreclosure waiting period
ByDale Elenteny
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This guide covers investor cash-flow mortgage for investment properties. Gustan Cho Associates now offers investor cash-flow loan programs on investment properties. One of the requirements on investor cash-flow mortgage programs is the real estate investor owns a primary residence. Renters who do not own a primary residence cannot qualify. The way investor cash-flow mortgage loans…
ByDale Elenteny
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In this blog, we will discuss and cover the upfront costs mortgage application versus closing costs. All home buyers or a refinance mortgage borrowers have closing costs associated with obtaining a residential mortgage loan. However, there are strict rules and regulations, both federal and state, on costs a mortgage lender can charge. Upfront costs mortgage…
ByDale Elenteny
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This GUIDE covers the experience with homeowners associations. Have you ever wondered where your HOA fee goes every month or every quarter when you pay it? Have you ever wondered why a friend of yours might pay as much or less than you do and they enjoy more amenities than you could imagine? I have…
ByDale Elenteny
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This guide covers investing in a distressed property and what you need to know. Distressed properties refer to properties for which the owner defaults on the mortgage. Investing in distressed homes became very common in the late 2000s, with a third of home sales between 2008 and 2011 falling into this category, according to Money…
ByDale Elenteny
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This guide covers apartment building loans for real estate investors. Gustan Cho Associates are experts in apartment building loans. Apartment building loans fall into the category of commercial real estate loans. They are very popular in today’s market. Most lenders want the borrower to put in a 20% down payment. Others require a 25% down…
ByDale Elenteny
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This guide covers real estate investing mortgage loan programs for investors. There are various types of real estate investing. Real estate investing is such a broad topic, so we will narrow real estate investing to single-family homes on this blog. Real estate investing was extremely popular until the real estate market collapsed in 2008. Real…
ByDale Elenteny
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This guide covers the mortgage timeline on manual underwriting for clear to close and closing. When the COVID-19 coronavirus outbreak hit the country in February 2020, the time it takes to close a mortgage loan changed. Alex Carlucci, a senior loan officer at Gustan Cho Associates, recalls when the COVID-19 political scare hit the United…
ByDale Elenteny
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Gustan Cho Associates, empowered by NEXA Mortgage, LLC. are mortgage broker licensed in 48 states including Puerto Rico, Virgin Islands, and Washington, DC. We have a lending network of 210 wholesale mortgage lenders. Gustan Cho Associates has lending partnerships with 210 wholesale investors of government, conventional, non-QM, alternative mortgages, and expatriate mortgage loans. Foreigners are…
ByDale Elenteny
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In this blog, we will cover and discuss qualifying for home loan with unpaid collection accounts mortgage options. There are various home loan with unpaid collection accounts mortgage options. FHA, VA, USDA, Non-QM, and conventional loans all do not require outstanding collections to be paid. Many people get surprised when they hear that you can…
ByDale Elenteny
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Homebuyers have many mortgage options when looking for home loans in Virginia for bad credit and low credit scores. The best home loans in Virginia for bad credit and credit scores down to 550 FICO scores are FHA and VA loans. Unfortunately, not all people are eligible for VA loans. FHA loans are the most…
ByDale Elenteny
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In this article, we will cover and discuss shopping for mortgage lenders for a home with bad credit in Iowa with competitive mortgage rates and no discount points. Homebuyers can qualify for a home loan with bad credit in Iowa. You do not have to settle for high rates and 4% discount points to qualify…
ByDale Elenteny
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In this blog, we will discuss and cover FHA reverse mortgages for senior homeowners. Homeowners who are 62 years old or older can qualify for FHA Reverse Mortgages. Reverse Mortgages are ideal for retired homeowners with limited fixed income such as pension or social security income. Seniors with not enough income to qualify for a traditional…
ByDale Elenteny
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In this blog, we will cover and discuss qualifying for FHA jumbo loans with FHA High-Balance Lenders in New Jersey with no lender overlays and competitive rates. The minimum credit score guidelines to qualify for a 3.5% down payment home purchase FHA high-balance loan in New Jersey is set at 580. Many lenders in New…
ByDale Elenteny
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In this blog, we will discuss and cover qualifying for a mortgage after bankruptcy in New Hampshire. New Hampshire has one of the hottest housing markets in the nation. Many families from high-taxed states such as New York, New Jersey, California, and Illinois are moving to New Hampshire. Home prices are surging in New Hampshire….
ByDale Elenteny
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In this article, we will cover and discuss helping your realtor and lender help you with a home purchase. I know sometimes it can be hard finding the right Realtor. I also know that once you have made that decision, there are some tips that can make your Home Buying Partnership more successful. Helping your…
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