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This Article On VA Mortgage Guidelines For Same-Sex Married Couples Was Written By Gustan Cho of Gustan Cho Associates The U.S. Department of Housing and Urban Development (HUD) the parent of FHA, allows non-occupant co-borrowers to be added on FHA Home Loans. Fannie Mae and Freddie Mac permits non-occupant co-borrowers The U.S. Department of Veterans…
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This Article On Mortgage Guidelines On Adding Co-Borrower To Qualify For Home Loan Adding co-borrower to qualify for home loan is done because the main borrower does not qualify with income. Adding co-borrower to qualify for home loan is normally done because of the borrower having higher debt to income ratios A spouse can be…
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This Article On Location Is Key On Home Purchase On Home Values Location, Location, Location. I am sure most folks have heard of this saying. Property taxes in one city may be double or triple than in other cities. High property taxes on home purchases may affect buying power. Location is key on a home…
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This Article On Difference Between Mortgage Rate And APR In Home Mortgages There is a Difference Between Mortgage Rate And APR. First of all, they are relatively similar. To explaining it simply, if the cost of the mortgage is high, the APR or Annual Percentage Rate will be higher. The CFPB has strict rules and…
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This Article On Home Loan After Second Mortgage Charge Off Guidelines Mortgage loan borrowers can qualify for a home loan after second mortgage charge off with no waiting period after the charge off depending on the mortgage loan program. Homebuyers after second mortgage charge off is a commonly asked questions by many of our viewers…
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This BLOG On How Difficult Is It To Qualify For FHA 203k Rehab Mortgage Was UPDATED And PUBLISHED On July 4th, 2020 The sea was rough that day my friend. Then George pulled the golf ball out of the whale’s blowhole, but where was Jerry Seinfeld? He was conveniently missing during all of this He…
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This BLOG On Risks In Private Money Investing On Real Estate Transactions Was PUBLISHED On July 3rd, 2020 There are many rewards in investing in private money loans and hard money loans for an investor. Investing in hard money loans can offer extreme handsome returns that are secured by real estate Many private money investors…
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This BLOG On What Are The Foreclosure Procedures And Process Was UPDATED And PUBLISHED On July 2nd, 2020 The government’s position with lending, traditionally, is they are set to ensure there is a warehouse for lending on the secondary, and that there are programs available for low to moderate-income families, as well as low to…
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This BLOG On Qualifying For Conventional Loan With Bad Credit And Low Credit Scores Was UPDATED And PUBLISHED On July 1st, 2020 Conventional Loans are called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac mortgage lending guidelines. Fannie Mae and Freddie Mac have their mortgage guidelines on conventional loans Borrowers…
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BREAKING NEWS: Mortgage Forbearance On The Rise Due To Covid-19 Spike After a few weeks of declining numbers, Mortgage Forbearance On The Rise due to the recent outbreak of the coronavirus. Dozens of states have reopened since late April after being shut down for over two months Worker’s high confidence levels triggered many workers not…
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This BLOG On Mortgage Lending Requirements On Government And Conforming Loans Was UPDATED And PUBLISHED On June 29th, 2020 Mortgage Lending Requirements is what lenders follow to see if a mortgage loan applicant qualifies for a residential mortgage loan. There are two types of lending guidelines There are mortgage lending requirements that are set by…
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This BLOG On Adding Yourself To Another Bank Account To Qualify For Mortgage Was UPDATED And PUBLISHED On June 25th, 2020 One of the requirements borrowers need to provide lenders is two months’ bank statements as part of the documents that are required. Lenders will carefully analyze 60 days of bank statements when processing and…
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This ARTICLE On Do All Lenders Have The Same Collections And Charge Off Guidelines Was PUBLISHED On June 21st, 2020 One of the most common questions asked by borrowers is Do All Lenders Have The Same Collections And Charge Off Guidelines. Over 75% of our borrowers at Gustan Cho Associates are folks who have been…
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This BLOG On Conforming Mortgage Credit Guidelines For Home Buyers Was UPDATED And PUBLISHED On June 20th, 2020 Conforming Mortgage Credit Guidelines For Home Buyers After Deed In Lieu And Short Sale Conforming Mortgage Credit Guidelines For Home Buyers After Deed In Lieu And Short Sale requires a 4 year mandatory waiting period after the deed…
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This BLOG On Real Estate Investments That Are Safe With Best Returns Was UPDATED And PUBLISHED On June 19th, 2020 A trend many are seeing in the financial markets is a growing appetite for real estate investments such as commercial and residential real estate with secured income as the option. Millennials, many who saw their…
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This BLOG On When Is The Right Time To Refinance Mortgage For Homeowners Was UPDATED And PUBLISHED On June 16th, 2020 Question: When Is The Right Time To Refinance? Answer: There are several answers to this question. The answer to the question of when is the right time to refinance is when the mortgage rates…
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This BLOG On Mortgage With Marginal Credit Scores And Bad Credit Guidelines Was UPDATED On August 9th, 2018 Applying for a mortgage with marginal credit scores can be extremely risky. Every mortgage loan program has minimum credit score requirements Most lenders have overlays A lender credit score requirements may be higher than the minimum federal mortgage…
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This BLOG On What Do Mortgage Underwriters Look For During Review Was UPDATED And PUBLISHED On June 9th, 2020 What Do Mortgage Underwriters Look For Underwriting Review: The underwriting department of a mortgage company is probably the most important department. Mortgage Underwriters are the people that will approve a loan file and issue a clear…
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BREAKING NEWS: Mortgage Underwriting During The Covid-19 Pandemic Mortgage Underwriting During The Covid-19 Pandemic is more scrutinized than it ever used to be. Lenders are paranoid about being able to sell their originate and fund after closing The mortgage industry is in chaos due to the coronavirus pandemic The once strong mortgage market is now…
ByGustan Cho
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BREAKING NEWS: Foreclosure During Pandemic For Unemployed Homeowners. The coronavirus pandemic really hit the U.S. hard. Prior to the pandemic, the U.S. economy was booming. Americans enjoyed a great economy, strong employment, little to no inflation, the lowest unemployment rate in U.S. history, a strong housing market, an all-time high value on their 401ks. In…
ByGustan Cho
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BREAKING NEWS: Emergency Relief Screw-Up Affects Student Loan Borrowers Emergency Relief Screw-Up Affects over credit reports of more than 5 million student loan borrowers. One of the biggest hurdles in qualifying for a mortgage for homebuyers are student loans Most student loans are federally-backed student loans Many homebuyers often encounter hurdles and issues when qualifying…
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