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ByGustan Cho
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Buying a House in Nevada: The Ultimate 2024 Guide to Making Your Dream Home a Reality Buying a house in Nevada is an exciting journey, whether you’re a first-time homebuyer or looking to relocate to one of the country’s fastest-growing states. With its booming economy, no state income tax, and vibrant communities like Las Vegas,…
ByGustan Cho
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The Feds Announce Future Rate Cuts: What It Means for Mortgage Rates in 2024 In 2024, homeowners and buyers will watch closely one major announcement: The Feds’ announcement of future rate cuts. This single decision could mean the difference between saving thousands on your mortgage or missing the opportunity to refinance at record-low rates. With…
ByGustan Cho
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Common VA Overlays: What You Need to Know for 2024 When it comes to VA loans, borrowers often need more information, particularly about qualifying for a loan. Many are told they don’t meet the requirements, even though they qualify under VA guidelines. What’s the catch? It’s something called lender overlays—additional rules that individual lenders impose…
ByGustan Cho
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Surety Bond: Everything Mortgage Brokers Need to Know in 2024 Understanding surety bond requirements is important if you’re a mortgage broker looking to expand your business or get licensed in new states. Surety bonds are more than just a box to check—they’re a way to protect consumers and build trust in the mortgage industry. In…
ByGustan Cho
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Debt Settlement Versus Bankruptcy: A Guide for Mortgage Borrowers in 2024 If you’re juggling debt and trying to figure out your next step, the decision between debt settlement versus bankruptcy can feel overwhelming. Both options can help you take control of your financial future, but they also have long-term effects on your credit, financial stability,…
ByGustan Cho
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Homebuyers do not need great credit and high credit scores to qualify for a mortgage. You can have outstanding collections and charged-off accounts and qualify for a mortgage as long
ByGustan Cho
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97 LTV Conventional Versus FHA Loans: Which One Is Right for You? If you’re like most first-time homebuyers, one of the biggest hurdles standing between you and your dream home is the down payment. With everyday costs like housing, groceries, gas, and family responsibilities, saving up for a house can feel impossible. Thankfully, low-down-payment loan…
ByGustan Cho
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How Do I Know If I Qualify For A Mortgage? All loan programs have different lending guidelines. However, you normally need timely payments in the past twelve months and need qualified income and have the ability to repay your new mortgage.
ByGustan Cho
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VA Loans with High Debt-to-Income Ratio: A 2024 Guide for Veterans Are you a Veteran worried about your high debt-to-income ratio holding you back from a VA loan? Here’s the good news: VA loans offer some of the most flexible options, even if your debt-to-income ratio (DTI) is on the high side. In this guide,…
ByGustan Cho
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Guide to Freddie Mac Mortgage Guidelines for 2024: Your Path to Homeownership or Refinancing Are you ready to own a home or refinance your current mortgage but find all the mortgage terms confusing? Freddie Mac’s mortgage guidelines can be your solution! In this guide, we’ll break down everything you need to know about Freddie Mac’s…
ByGustan Cho
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Fannie Mae and Freddie Mac Explained: What’s the Difference? If you’re considering purchasing or refinancing a home, you’ve likely heard of Fannie Mae and Freddie Mac—two major names in the mortgage industry. But what exactly do they do, and how do they differ? Here, we’ll break down the essentials to help you understand the difference…
ByGustan Cho
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USDA One Credit Score Mortgage: What You Need to Know to Qualify in 2024 If you’ve been told you can’t qualify for a USDA loan because you only have one credit score, you’re not alone. Many potential homebuyers are turned away by lenders requiring three credit scores, but that’s not the full story. At Gustan…
ByGustan Cho
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2024 Guide to Low Credit Score Pricing Adjustments: Understanding Your Options to Save on Your Mortgage Ready to buy or refinance but worried about how your credit score affects your mortgage rate? Don’t stress—understanding low credit score pricing adjustments can help you save on your mortgage. Let’s break down how these adjustments work, what they…
ByGustan Cho
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Cash to Close and Seasoned Funds for Closing: Your 2024 Guide to a Smooth Home Purchase When you’re ready to buy a home, two terms you’ll hear often are cash to close and seasoned funds for closing. These are important steps in the mortgage process, and understanding them will make your journey to homeownership a…
ByGustan Cho
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Updated FHA Loan Requirements for 2024: What You Need to Know Are you considering an FHA loan to buy a home? FHA loans are popular because they’re one of the easiest types of mortgages to qualify for, especially if you’re a first-time buyer or have had credit issues. In this guide, we’ll review everything you…
ByGustan Cho
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How Underwriters Calculate Debt-to-Income Ratio (DTI) – 2024 Guide When it comes to buying a home, there are a few numbers that can make or break your mortgage application. One of the biggest? Your debt-to-income ratio (DTI). Understanding how underwriters calculate DTI can help you better prepare for mortgage approval, increase your chances of getting…
ByGustan Cho
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Does Co-Signing Affect in Buying Home? Understanding How Co-Signing a Loan Affects Your Future Home Purchase Have you ever considered co-signing a loan for a loved one? It might seem like a helpful way to support a family member or friend, but you might wonder, does co-signing affect in buying a home in the future?…
ByGustan Cho
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Verification of Employment (VOE): Why It’s Crucial for Securing Your Mortgage in 2024 Whether you’re ready to purchase your first home or refinance an existing mortgage, understanding the importance of Verification of Employment (VOE) is essential. In the mortgage world, lenders need to know you have a stable income and can keep up with monthly…
ByGustan Cho
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Updated Guide: Mortgage Forbearance During Pandemic When the COVID-19 pandemic hit, it upended the global economy, leaving millions of Americans in financial turmoil. Among those most affected were homeowners who faced sudden job losses and financial hardships, making it difficult to keep up with mortgage payments. The U.S. government and mortgage lenders introduced mortgage forbearance…
ByGustan Cho
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Clear to Close in 2 Weeks or Less: Here’s How to Fast-Track Your Mortgage Approval At Gustan Cho Associates, we know time is precious—especially in home-buying! One of the most common questions is whether a mortgage loan can be approved and closed in two weeks or less. The good news? It’s possible with the right…
ByGustan Cho
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How Does Rapid Rescore Assist You in Securing a Mortgage in 2024? Imagine this: You’re almost ready to buy your dream home, but your credit score is holding you back. Maybe you’ve been working hard to pay down debt, or there’s a mistake on your credit report making your score look lower than it should…
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