Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByGustan Cho
Posted on
This guide covers why underwriters issue denials on mortgage loans. The mortgage process should not be a stressful process and there is no reason why a mortgage loan should not close after a pre-approval has been issued. All mortgages should close on time and Gustan Cho Associates has a 21-day close policy on most loans….
ByGustan Cho
Posted on
This Article Is About Non-Occupied Co-Borrower Can Be Added To Borrower With High DTI A large percentage of mortgage borrowers consult with Gustan Cho Associates Mortgage Group due to having higher debt-to-income ratios. Most mortgage lenders have lender overlays on debt to income ratios. Lender Overlays are mortgage guid+++elines that are above and beyond federal…
ByGustan Cho
Posted on
In this article, we will discuss VA AUS approval versus manual underwriting on VA loans. VA loans are the best loan program for owner-occupant home buyers. The Department of Veterans Affairs, The VA, is the government agency that insures VA Loans to private lenders who originate and fund VA loans. The Veterans Administration does not…
ByGustan Cho
Posted on
This guide covers what is earnest money on home purchase. Earnest money is a deposit a homebuyer submits with the real estate purchase offer. This deposit gives the home seller the assurance that the home buyer is serious about the purchase of the home. In this guide covers how the deposit of a home purchase…
ByGustan Cho
Posted on
In this blog, we will discuss and cover HUD waiting period guidelines after Chapter 13 on FHA loans. Why is it many lenders say there is a one or two-year waiting period after Chapter 13 discharge date? This is what many home buyers who are in a Chapter 13 Bankruptcy Repayment Plan want to know….
ByGustan Cho
Posted on
In this blog, we will discuss and cover using FHA loans for self-employed borrowers on a home purchase. Using FHA Loans For Self-Employed Borrowers on a home purchase is very popular because of the high debt to income ratio caps. FHA loans allow up to a maximum of a 46.9% front end and 56.9% back…
ByGustan Cho
Posted on
In this article, we will be covering the topic on are all mortgage lenders the same. Choosing the right mortgage lender that is suitable to you is one of the most important decisions borrowers will make in the home buying process. Getting the right lender with the best terms and rates is very important for…
ByGustan Cho
Posted on
This guide covers identity theft process during mortgage application process. Identity theft process is one of the fastest growing crimes in America and every consumer should always make sure that their personal credit information is not accessible to anyone. Anyone can be a victim of identity theft process. All the thief needs is the following:…
ByGustan Cho
Posted on
This guide covers credit scores and mortgage rates versus pricing adjustments. Credit scores and mortgage rates go side by side. The most important factor in any mortgage loan application process is one’s credit score. Although income, credit, credit history, debts, assets, and liabilities are all important in the mortgage loan application process, the single most…
ByGustan Cho
Posted on
Many homebuyers have substantial value on their 401k. They can use up to 60% of the value of their 401k for their down payment and/or closing costs on their home purchase. The amount used from their 401k is not used for their debt to income ratio calculations.
ByGustan Cho
Posted on
This guide covers housing demand strong despite highest mortgage rates and surging inflation numbers. Home sales throughout the United States remain strong due to a combination of factors. Rumors of higher mortgage rates in the second half of 2021 have not slowed down demand for homes. The reduction of the FHA annual mortgage insurance premium has…
ByGustan Cho
Posted on
This blog aims to explore the difference between correspondent lending and mortgage brokers. A common inquiry we receive regularly pertains to the lender type offering the most favorable rates. The response is straightforward: correspondent lenders aren’t mandated to reveal the yield spread premium in the closing disclosure, and there’s no upper limit on this premium…
ByGustan Cho
Posted on
This guide covers qualifying for a home mortgage with bad credit. One of the frequently asked questions by our clients at Gustan Cho Associates is, what is bad credit in mortgage terms? What does it mean to have bad credit? Bad credit, in general, can have a lot of meanings. Bad credit mortgage loans are…
ByGustan Cho
Posted on
VA home loans are ideal for primary residences, offering 100% financing with no down payment required for those who qualify, including active and retired U.S. Armed Forces members and eligible surviving spouses. The key to accessing these benefits is obtaining a Certificate of Eligibility (COE), which confirms eligibility for the VA’s loan program. The VA…
ByGustan Cho
Posted on
This guide covers qualifying for the lowest FHA mortgage rates on FHA loans. Qualifying for the lowest FHA mortgage rates is every borrowers goal. There are ways to prepare for a mortgage a few months before actually applying for a home loan. Not everyone gets the same mortgage rates on FHA loans. Mortgage lenders will…
ByGustan Cho
Posted on
When considering Home Purchase With Illegal Apartment in Chicago, prospective buyers have access to various financing options through government and conventional lending programs. FHA loans require a minimal down payment of just 3.5% for owner-occupied two to four-unit properties. The VA provides an attractive 100% financing option for these multi-unit homes, targeting veterans. On the…
ByGustan Cho
Posted on
This article explores the Factors Affect Pre-Approval And Stress During Mortgage Process. Once individuals decide to purchase a home, the subsequent step is qualifying for a home loan. Prospective buyers must assess the required down payment and closing costs and determine their eligibility for a loan. Homebuyers must undergo the qualification process and obtain a…
ByGustan Cho
Posted on
This guide covers mortgage loan options with bad credit after bankruptcy on home purchase and refinance loans. One of the frequently asked questions from our viewers is can I qualify and get approved for a mortgage with bad credit after bankruptcy? The answer is yes. Depends on the mortgage loan program and the down payment….
ByGustan Cho
Posted on
This guide covers the right of rescission mortgage guidelines on refinances. As we have seen interest rates drop over the past month and a half, we have seen a rise in refinance mortgage transactions. Thousands of Americans are taking advantage of the temporary rate decrease the FEDERAL RESERVE has put in place. It is no…
ByGustan Cho
Posted on
This guide covers credit score guidelines versus overlays by mortgage lenders. There are two types of credit score requirements to get approved for a mortgage. There is the agency credit score guidelines by HUD, VA, USDA, Fannie Mae and Freddie Mac. The second credit score guidelines is from the individual mortgage lender. Many borrowers are…
ByGustan Cho
Posted on
In this blog post, we’ll explore obtaining an FHA loan with a credit score under 600. Gustan Cho Associates specializes in processing and finalizing FHA Loans With Under 600 Credit Scores in Florida. Many lenders set higher credit score thresholds due to additional criteria known as overlays. However, it’s important to note that only some…
CALL NOW