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ByRonda Butts
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Appraisal Review in Mortgage Underwriting Process: Your Guide to Success in 2024 Buying a home is one of the most exciting moments in life, but it comes with some steps that might seem complicated at first. One of those key steps is the home appraisal and its review during the mortgage underwriting process. Understanding how…
ByRonda Butts
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This guide covers the housing shortage facing the Midwest. The housing shortage in the Midwest has impacted and affected homebuyers in the Midwest. While home sellers enjoyed the multiple offers on their listed homes, many homebuyers were affected by multiple offers on the same property. There is not a homebuyer who did not have been…
ByRonda Butts
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This guide covers buying a house near mom-and-pop shops versus big box retail stores. Are you tired of the same old chain stores and restaurants that seem to dominate every city? Do you crave a unique experience filled with charm, character, and locally-owned businesses? Living and buying a house near mom-and-pop shops are the lifeblood…
ByRonda Butts
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This guide covers selling house in bad market during period of high inflation and skyrocketing mortgage rates. Despite high mortgage rates, high inflation, and a deteriorating overall economy, the housing market is still booming. Home prices are increasing. In general, there is more demand for homes versus inventory. Dale Elenteny, a 30-year veteran of the…
ByRonda Butts
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FHA loans bad credit Georgia mortgage requirements and guidelines make FHA home mortgages the most popular loan program for first-time homebuyers, borrowers with credit scores down to 500 FICO, and homebuyers with high-debt to income ratios. HUD, the parent of FHA, is the federal government agency in charge of the administration of FHA loans. Alex…
ByRonda Butts
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As per the Fannie Mae Bankruptcy Guidelines for conventional loans, borrowers must follow a mandatory waiting period after filing for Chapter 7 or Chapter 13 bankruptcy before being considered eligible for a conventional loan. While it is possible for mortgage borrowers to obtain a loan post-bankruptcy, they must first satisfy the required waiting period to…
ByRonda Butts
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In this guide, we will cover how rent-to-own homes work for homebuyers who cannot quite get traditional financing. When you want to buy a home, the usual process involves applying for a mortgage to finance the purchase. This is a whole different process, where you will have to be approved to get the funds, and…
ByRonda Butts
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This guide covers the benefit of buying a house in California versus other states. California reached record home prices Despite the historic high rate and soaring inflation in June 2023. California has the nation’s highest home prices. California is also one of the highest-taxed in the nation. The California real estate market is one of…
ByRonda Butts
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Qualifying for a conventional loan after foreclosure presents more challenges than government loans. However, homebuyers can qualify for a conventional loan after experiencing foreclosure and bankruptcy. There are specific waiting period requirements that must be met. To qualify for a conventional loan post-foreclosure, borrowers must have a minimum credit score 620. Additionally, debt-to-income ratios can…
ByRonda Butts
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This article will cover and discuss when mortgage lenders require two appraisals. In general, only one appraisal is required—however, there are cases where lenders require two appraisals. Two appraisals are required because the lender does not feel comfortable with the security of the property. Lenders are not real estate investors. They have no interest in…
ByRonda Butts
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Is Possible To Buying Home In Mississippi With Bad Credit With Lender With No Overlays? Yes, it is at Gustan Cho Associates. Gustan Cho Associates is a mortgage company licensed in Mississippi.
ByRonda Butts
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In this blog post, we will explore a tackle problem many borrowers face – Mortgage Denied After Pre-Approval. The landscape of qualifying for a residential mortgage loan has undergone significant changes in recent years, presenting distinctions from past processes. Despite obtaining pre-approval, instances of mortgage denied after pre-approval persist, leaving many borrowers needing clarification. It’s…
ByRonda Butts
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In this blog, we will cover and discuss buying house near airport. Homebuyers need to consider the benefits and negatives of buying house near airport. One of the main benefits is that homebuyers will immediately notice the price of the homes listed near the airport. Alex Carlucci, a loan officer at Gustan Cho Associates,…
ByRonda Butts
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This article examines and clarifies the criteria for FHA Appraisals Versus Conventional Appraisals. There are significant differences in the guidelines governing FHA appraisals versus conventional appraisals. Whenever individuals seek home financing, they must undergo a home appraisal according to their lenders’ requirements. The mortgage offered by lenders to borrowers is dependent on the results of…
ByRonda Butts
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This guide will cover the Texas housing market forecast for 2023 going into 2024. The Texas housing market is booming despite mortgage rates surging past 7% in a volatile economy. If you’re considering moving to Texas, you’re not alone. The Lone Star State is one of the fastest-growing states in the country, and its cities…
ByRonda Butts
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Can I Use Overtime Income As Qualified Income To Qualify For A Mortgage? You can use overtime and part-time income as qualified income as long as those other income has been seasoned for at least two years.
ByRonda Butts
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This guide covers buying a house in states with best schools. We will discuss why these seven states we will be covering rank as the best for those buying a house in states with best schools. This guide was created due to the frequently asked question from our viewers over the past several months on…
ByRonda Butts
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This guide covers buying house in different state due to job transfer and nice weather—relocation for Employees that own a home and want to purchase a new home in a new location. Dale Elenteny, a senior mortgage loan advisor at Gustan Cho Associates, explains his thoughts about buying a house in different state due to…
ByRonda Butts
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This guide covers buying a house near the Great Lakes area. You can enjoy coming from city life to buying a house near the Great Lakes area. Transitioning to a new lifestyle of lakeside living in the Great Lakes area is anyone’s dream come true. Dale Elenteny, a senior loan officer at Gustan Cho Associates,…
ByRonda Butts
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This guide covers buying a house in states with exceptional campgrounds. Are you tired of the hustle and bustle of city life? Do you dream of escaping to the tranquility and beauty of nature? Look no further! In this blog post, we will take you on a virtual journey through seven magnificent states that offer…
ByRonda Butts
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This guide covers the best places to buy waterfront property for boating and recreational watersports. We will discuss buying a house in the perfect state for boating and watersports. Are you ready to set sail on a thrilling adventure where the sun-kissed waves become your playground and every day feels like a dream? Welcome aboard…
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