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This Article Is About Buying A House With Tenants Who Are Still Occupants Buying A House With Tenants Who Are Still Occupants happens if you are buying a home from a real estate investor. It is very common to have tenants on a home you are purchasing There can be benefits when buying a house…
ByGustan Cho
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This article covers Lenders Increasing Credit Score Requirements Due To COVID-19 Most borrowers have noticed that Lenders Increasing Credit Score Requirements Due To COVID-19 Outbreak. Lenders across the board have raised their minimum credit score requirements on government and conventional loans due to the coronavirus pandemic The good news is that FHA, VA, USDA, Fannie…
ByGustan Cho
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This guide is an update of a previous article: This guide covers FHFA postpones adverse fee for mortgage refinance loans. FHFA Postpones Adverse Fee until later this year sends mortgage rates lower: Mortgage rates are at historic highs. The housing and mortgage market is in crisis like never in history with high inflation, record high…
ByGustan Cho
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This article covers Freddie Mac Housing Event Guidelines On Conventional Loans Fannie Mae and Freddie Mac are the two mortgage giants known as Government Sponsored Enterprises (GSE). Fannie Mae and Freddie Mac are under the control and regulation of the Federal Housing Finance Agency (FHFA) Conventional Loans are referred to as Conforming Loans This is…
ByGustan Cho
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BREAKING NEWS: Housing Market Booming Despite Record High Unemployment Housing Market Booming despite record-high unemployment and the coronavirus outbreak. Never in history has the housing market been so hot despite economic uncertainty and a presidential election in just a few months. Over 50 million Americans have filed for unemployment due to the coronavirus outbreak. With…
ByGustan Cho
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This Article covers Conventional Loans With Derogatory Credit Mortgage Guidelines Many clients of Gustan Cho Associates are interested in a conventional mortgage. We offer a full slate of conventional mortgage products without any LENDER OVERLAYS We even participate in specialty loan programs offered by FREDDIE MAC and FANNIE MAE such as HOMESTYLE and HOMEONE It…
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This ARTICLE On Buying A House During Recession And COVID-19 Pandemic The team at Gustan Cho Associates gets countless calls about Buying A House During Recession And COVID-19 Pandemic. Home values have been skyrocketing prior to the coronavirus pandemic for many years Many experts and economists predicted the housing market will undergo a market correction…
ByGustan Cho
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This ARTICLE On Upgrading Your New Home Purchase Prior To Moving In Upgrading Your New Home Purchase before moving in is wise and will make the renovations easier. It is much easier and less work in updating your new home purchase before moving in It is always more work, time-consuming, and costly updating a home…
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This Article On Refinance Mortgage Loans Hit Year High Due To Low Rates Refinance Mortgage Loans is the hottest thing right now. Many mortgage companies are swamped with homeowners trying to refinance their current mortgage loans at lower rates The breaking news the Central Bank lowering rates to zero percent drove mortgage rates at historic lows…
ByGustan Cho
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This Article On Condotel Loans Florida With 25% Down Payment Condotel Loans Florida is a big part of our business at Gustan Cho Associates. I specialize in Condotel Loans Florida Condo Hotels are great investments for those seeking to purchase a vacation home During the period where you do not use your Condo Hotel, you…
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This Article On Buying Out Of State Homes Online Sight-Unseen Purchases The concept of Buying Out Of State Homes Online sight-unseen is nothing new. As a prior real estate investor, most of the investment homes I purchased to flip and/or to rent were sight-unseen Many professional real estate investors with working relationships with realtors have…
ByGustan Cho
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This Article On What Is A Partnership And Types Of Partnerships In Business A partnership is a business where two or more people share in the ownership and are called “partners” or “members.” Each partner contributes to all aspects of the business This is including money, property, labor, and skill In return, each partner shares…
ByGustan Cho
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This Article Is On Mortgage After Deed In Lieu In California Home buyers can now qualify for mortgage after deed in lieu in California after the mandatory waiting period depending on the mortgage loan program. California is one of the states in the nation with the highest foreclosure rates. Californians were hurt hard by the…
ByGustan Cho
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This Article On FHA Loan With Unpaid Collections Florida Home Buyers with bad credit and lower credit scores can qualify for FHA Loan With Unpaid Collections. Borrowers of FHA Loans do not have to pay outstanding collection accounts and charge off accounts as long as the lender they consult with has no FHA Lender Overlays…
ByGustan Cho
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This Article On Bankruptcy Alternatives & How Bankruptcy Affects Mortgage Qualification Many who have extenuating circumstances such as job loss, business loss, medical issues, or divorce fall behind on their debts. Once consumers fall behind on their debts due to loss of income, it is very difficult to catch up. Many who are behind on…
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This Article On Home Buyer Questions To Ask Sellers When Buying Home Home buyers should definitely make it a priority to visit as many open houses as possible. Open houses are great because home buyers will be meeting the seller’s real estate listing agent Sometimes the sellers of the home is present as well Asking…
ByGustan Cho
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This Article On Using IRS 4506T Form In Mortgage Loan Processing Mortgage lenders require income verification with not just the employer and with requiring income tax returns, but will also need to verify the income and tax returns with the Internal Revenue Service to make sure that the income tax returns are valid. The way…
ByGustan Cho
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This Article On What Are The Biggest Home Purchase Regrets And How To Avoid Them Buyers who decided purchase a home and got a solid pre-approval from a mortgage loan originator, next step is to start shopping for a home. Shopping for a new home is an exciting time Home buyers should do a lot…
ByGustan Cho
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This Article On Mortgage After Short Sale Guidelines For Home Purchase Previous homeowners who had a prior short sale can now qualify for a mortgage after a short sale as long as they have met the mandatory waiting period after a short sale. Many homeowners have requested a short sale from their current lender as…
ByGustan Cho
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This Article On How Underwriters View Credit History And Recent Late Payments Credit history and recent late payments are carefully reviewed by mortgage lenders during the mortgage application and mortgage approval process. A mortgage underwriter will look at the overall credit history of applicants Two things they will look for is whether the applicant has…
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This article is about Selling Your Home Prior To Foreclosure And Qualifying For New Mortgage Homeowners who get behind on their mortgage payments more than 4 months can have their mortgage lender start foreclosure proceedings against their homes. A foreclosure is when the mortgage lender starts legal proceedings to take over a homeowner’s home due…
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