Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByGustan Cho
Posted on
There is no reason why a pre-approved borrower should ever get a last-minute mortgage denial by a mortgage underwriter. The main reason why borrowers get a last-minute mortgage
ByGustan Cho
Posted on
This article covers how underwriters view liabilities In mortgage qualification. Income and liabilities in mortgage qualification are the two most important factors when lenders qualify borrowers. Borrowers can have high verified income, but if they have many liabilities in mortgage qualification, they may not qualify by themselves. Every mortgage loan program has debt-to-income ratio requirements….
ByGustan Cho
Posted on
This guide covers modular homes mortgage guidelines on purchase and refinance transactions. Modular homes are becoming more and more popular during the housing boom. If you are reading this article, you are more than likely finding it hard to find mortgage financing to buy a modular home. Fewer lenders are willing to enter the modular…
ByGustan Cho
Posted on
This guide aims to understand Income-Based Repayment Student Loan Mortgage Guidelines clearly. The daunting task of outstanding student loans presents a substantial challenge for numerous Americans, especially those navigating the intricate process of qualifying for a home mortgage. In homebuying, where financial considerations are pivotal, adopting income-based repayment measures becomes increasingly significant. Notably, governing bodies…
ByGustan Cho
Posted on
This article covers reasons why hiring realtor on home purchase is important. Getting hooked up with the right real estate agent is one of the most important factors in the home buying process. Most homebuyers need a real estate agent who not only is knowledgeable but is also familiar with the area and its pros…
ByGustan Cho
Posted on
This guide covers things that can delay your mortgage loan closing. A mortgage loan should be able to close in 30 days of less. Whether it is a new home purchase mortgage loan or a refinance mortgage loan, a complete mortgage application package consists of a lot of materials. We have discussed the mortgage application…
ByGustan Cho
Posted on
In this blog, we will cover the Fannie Mae Chapter 13 dismissal guidelines on conventional loans. One of the most frequently asked questions at Gustan Cho Associates is what is the eligibility requirements to qualify for a conventional loan after Chapter 13 Bankruptcy dismissal. Homebuyers can qualify for FHA and VA loans with no waiting…
ByGustan Cho
Posted on
This guide covers FHA MIP versus conventional PMI for mortgage borrowers. Mortgage Insurance is mandatory on all FHA loans and Conventional loans with less than 20% equity. There are pros and cons of FHA MIP versus Conventional PMI. In this article, we will discuss the pros and cons on FHA MIP versus conventional PMI for…
ByGustan Cho
Posted on
This guide covers HUD guidelines versus lender overlays on FHA loans. There have been notable changes for HUD guidelines versus lender overlays on FHA loans, which may affect homebuyers. HUD guidelines on student loans excluded student loans on deferment from debt-to-income ratio calculations. This article will discuss HUD guidelines versus overlays on FHA loans. One…
ByGustan Cho
Posted on
Your mortgage lender checks your credit when you apply for a home loan. Your credit score determines your mortgage rate and also if you qualify for a loan.
ByGustan Cho
Posted on
This guide covers preparing for a VA loan with a lender with no overlays. Preparing for a VA loan with a lender with no overlays during the coronavirus pandemic: The Veterans Administration is the government agency governing VA loans. VA home mortgages are the best mortgage program in the nation. However, not everyone can qualify…
ByGustan Cho
Posted on
Self-employed borrowers are now eligible to get an approve/eligible per automated underwriting system with one-year income tax returns.
ByGustan Cho
Posted on
This guide outlines the advantages of Non-QM loans and Non-Traditional Mortgages. Gustan Cho Associates serves as your reliable ally for Non-QM and Non-Traditional Mortgages. Non-QM and Non-Traditional Mortgages, also known as alternative financing mortgages, are distinct home loan options. These alternative financing loans diverge from the standard lending criteria of traditional government or conventional loans….
ByGustan Cho
Posted on
Gustan Cho Associates has mortgage with no income documentation, no tax returns, and low credit scores. Many folks who have established themselves with good credit and stable income and have decided that they are ready to become homeowners seek to get qualified for a home loan. One of the most important factors lenders look in…
ByGustan Cho
Posted on
Borrowers should not stress during the mortgage process. . There is no reason why there should be stress during the mortgage process.
ByGustan Cho
Posted on
This guide covers what is the definition of net tangible benefits for refinancing. When mortgage rates were at a 3-year low, mortgage lenders could not keep up the volume of refinancing loan applications. Experts are anticipating mortgage rates to drop in the coming weeks and months: The Federal Reserve Board (The Fed) has recently did…
ByGustan Cho
Posted on
This article discusses the revised VA guidelines regarding charge-offs and collections. According to the VA Guidelines on Charge-Offs and Collections, veteran borrowers may still be eligible for VA home loans even if they have outstanding charge-offs and collections accounts, provided they receive an approved/eligible status from the automated underwriting system (AUS). VA guidelines on charge-offs…
ByGustan Cho
Posted on
This guide covers the steps in mortgage process for closing home loan on time. Homebuyers looking to purchase a new home or homeowners looking to refinance their current home loans need to go through steps in mortgage process. The first steps in mortgage process are the qualification and pre-approval stages. The pre-approval stage is by…
ByGustan Cho
Posted on
This guide covers how to close on home loan after losing job during mortgage process. We will show you qualifying for home loan after losing job during mortgage process. Losing job during mortgage process does not happen often. However, there are times when it is inevitable and does happen to the best of us. Loss…
ByGustan Cho
Posted on
This guide covers mortgage underwriter errors causing borrowers a loan denial. Mortgage underwriter errors do happen. Underwriters are human and are not perfect. There are thousands of pages when it comes to mortgage agency guidelines that it is impossible to remember it all. Many loan officers often get frustrated when they know a particular agency…
ByGustan Cho
Posted on
Dozens of non-QM loan programs have been created and launched in recent years. A large percentage of homebuyers who cannot qualify for traditional loans gravitate towards non-QM loans.
CALL NOW