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ByGustan Cho
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In this blog, we will cover and discuss qualifying for VA loans by Wisconsin VA mortgage lenders with no lender overlays. Gustan Cho Associates, empowered by NEXA Mortgage, LLC NMLS 1660690 has a large presence in Wisconsin. Gustan Cho Associates empowered by NEXA Mortgage, LLC is licensed in 48 states, including Wisconsin, and is based…
ByGustan Cho
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In this blog, we will discuss and cover second home versus investment home financing. For homeowners who currently own a primary residence, they can possibly qualify for a second home on their next home purchase. A second home can be a vacation home in a resort area or just a regular condominium or single-family home….
ByGustan Cho
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In this blog, we will cover and discuss how online mortgage shopping changed mortgage lending. The Greatest Benefits Of Online Mortgage Shopping Is Time Management: Being More Efficient. We are used to getting what we want and getting it now. The world is at our fingertips. If we want information, we want it now. Anything…
ByGustan Cho
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In this blog, we will cover and discuss turning an owner-occupied to investment home. The exiting home will turn into a rental investment home. By doing so, buying a new primary residence home will not be stressful due to rental income coming in from the exiting home. There are cases where a homeowner with an…
ByGustan Cho
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In this blog, we will cover and discuss credit scoring and how it works in the mortgage process. Credit scoring and how it works to qualify for a mortgage can be very simple. Credit Scoring by the three credit bureaus is used by lenders to determine the risk of borrowers they plan on lending. Credit…
ByGustan Cho
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The initial loan approval from the mortgage loan approval lists a set of conditions from the mortgage loan underwriter. Once the loan conditions are satisfied, the mortgage underwriter will issue will issue a clear to close.
ByGustan Cho
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In this blog, we will discuss and cover qualifying for conventional loans with no lender overlays in Illinois. Gustan Cho Associates Mortgage Group has no overlays on government and conventional loans. All of our government and conventional loan programs have no mortgage lender overlays. As long as mortgage borrowers get an approve/eligible per DU Findings…
ByGustan Cho
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In this blog, we will cover and discuss retirees fleeing high-taxed states to low-taxed states with affordable housing and low cost of living. The economy is hot. Housing prices have been appreciating throughout the United States except in certain states. Many Retirees Fleeing High Taxed States To Low Cost Of Living States. Illinois Has The…
ByGustan Cho
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In this article, we will discuss and cover qualifying for mortgage with irregular income on a home purchase. Income qualification by loan officers is one of the most important factors in getting a residential mortgage loan approval. There are strict income and employment guidelines when it comes to qualified income. Cash-income and/or undocumented income cannot…
ByGustan Cho
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In this blog, we will cover and discuss the roles of Fannie Mae and Freddie Mac in the housing and mortgage industry. What Are Roles Of Fannie Mae And Freddie Mac? The main role of both of these mortgage giants is to provide liquidity in the mortgage markets. Fannie Mae and Freddie Mac purchase mortgages…
ByGustan Cho
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In this article, we will cover and discuss rate and term refinance mortgage loans versus other types of refinance options. Cash-Out and Rate And Term Refinance Mortgage Loans require full documentation as well as a new home appraisal. The easiest and fast track refinance loan program is the FHA Streamline Refinances and VA Streamline Refinances….
ByGustan Cho
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In this blog, we will cover and discuss HUD guidelines after bankruptcy versus other mortgage loan programs. Per HUD guidelines after bankruptcy, borrowers can qualify for FHA loans after Chapter 7 and Chapter 13 Bankruptcy. However, there are different HUD Guidelines After Bankruptcy requirements on Chapter 7 versus Chapter 13 Bankruptcy. Many folks who file bankruptcy…
ByGustan Cho
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In this blog, we will discuss and cover how do underwriters approve mortgage loans when analyzing and processing borrowers. Mortgage Underwriters play the most important role in the mortgage process. There are certain ways on how do underwriters approve mortgage loans. Underwriters are professionals who approve or deny mortgage loans. There is no reason why…
ByGustan Cho
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In this blog, we will discuss and cover how to know the market value of your home. Home prices have been skyrocketing in the past few years. Many are thinking that another housing bubble is imminent. Others were forced out of the housing market due to skyrocketing home values. Almost every one of us comes to…
ByGustan Cho
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In this blog, we will discuss and cover if you can get pre-approved in one hour on a home mortgage. The qualification and pre-approval step of the mortgage process is the most important step. One of the major reasons for stress during the mortgage process or a last-minute mortgage denial is due to the loan…
ByGustan Cho
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In this blog, we will discuss and cover on tricks and tips in getting one day mortgage loan approval. The mortgage process does not have to stressful if the borrower is properly qualified. There are many mortgage loan applicants who get issued a pre-approval letter within 30 minutes once they contact a loan officer. Properly…
ByGustan Cho
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In this blog, we will discuss and cover HUD guidelines on student loans versus other mortgage programs. The Federal Housing Administration, FHA, has changed the HUD guidelines on student loans. HUD, the parent of FHA is excluding deferred student loan payments that have been deferred for more than 12 months from the calculations of debt…
ByGustan Cho
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In this article, we will discuss and cover conventional loan after short sale mortgage guidelines. Fannie Mae and Freddie Mac are the two mortgage giants that set conventional mortgage guidelines. Conventional Loans are called Conforming Loans because they need to conform to Fannie/Freddie Mortgage Guidelines. Waiting Period After Housing Event on conforming loans is different…
ByGustan Cho
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In this blog, we will discuss and cover VA loans for first-time home buyers with no lender overlays. The United States Department of Veteran Affairs (VA) has very lenient mortgage guidelines on VA Loans For First Time Veteran Home Buyers. Getting able to qualify for VA loans for first-time veteran home buyers is a privilege…
ByGustan Cho
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FHA Streamline Refinance California is a fast-track refinance mortgage loan program for California homeowners with a current FHA loan. They can refinance their current FHA Loan into another FHA loan at a lower mortgage rate to lower their mortgage rates. Doing so will get them a reduction in their monthly mortgage payments. By refinancing their…
ByGustan Cho
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In this blog, we will be covering the FAQ on VA loans on eligibility requirements and VA mortgage loan options for first-time homebuyers. There are many FAQ On VA loans on qualification, credit, and eligibility requirements as well as the types of VA loan programs that our viewers often inquiry about. VA loans are the…
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