Best Mortgage Lenders With No Overlays in Indiana

Best Mortgage Lenders With No Overlays in Indiana For 2022

Gustan Cho Associates are mortgage brokers licensed in 48 states

In this blog, we will discuss why Gustan Cho Associates is hands down the best mortgage lenders with no overlays in Indiana for 2022. Gustan Cho Associates | Empowered by | NEXA Mortgage, LLC | are now able to offer our services in the state of Indiana. During a recent transition to our new regional headquarters in Oakbrook Terrace, Illinois, we were temporarily not available to help clients in Indiana. But we have great news, our services are once again available. In this blog, we will update our Indiana borrowers on the loan programs we have to offer. We will start this article with a few general facts about the state of Indiana. Since our branch is located in Oakbrook Terrace, Illinois, many of our clients are in Indiana or on vacation in Indiana frequently. We are very familiar with the state and have visited frequently.

Indiana Named The Hoosier State and the Crossroads by America

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The state of Indiana is often referred to as the Hoosier state. It is a wonderful state located in the Midwest region of the United States. This state is also known as the “crossroads of America” due to its central location. There is a common misconception that Indiana is a boring Midwestern state that is surrounded by nothing but cornfields and farms. While there are many cornfields throughout the state, there is much more to offer with a reasonable cost of living.

Best Mortgage Lenders With No Overlays in Indiana For 2022 | Apply Now With 500 FICO

Skyrocketing Home Prices in the United States | Indiana Ranks as a State with Low Cost of Living and Affordable Housing

If you are looking for a downtown metropolitan area, Indianapolis is a perfectly sized city. It’s not too big and it’s also not too small. There are amazing restaurants as well as museums and family activities. This is a three-hour drive from Chicago and only a seven-hour drive from the Canadian border so there are many unique visitors in and out of Indianapolis. Indiana is one of the most affordable states in our country. We are excited to offer our services in the state of Indiana because the housing costs are reasonable compared to most areas of the country.

Indiana Has Top Ranking Public School System Throughout The State

The beautiful suburbs of Indianapolis offer great school districts as well as a great suburb/ city life balance. I personally have visited the Indiana Sand Dunes numerous times as a youngster. The national parks of Indiana are beautiful, and the Sand Dunes on the Lake Michigan coastline are a sight to see. I highly recommend you check out the Indiana Sand Dunes this summer. The sand piles go well over 100 feet in elevation.

Indiana Landscape Attracts Tourists For its Beauty, Smokie Mountains, Indy 500, and Countless Areas

For those who prefer a more mountainous experience, Brown County State Park has the nickname “little Smokies” because it is similar to areas of the Smoky mountains. Many tourists travel here in the fall for great sightseeing when the leaves turn beautiful colors. Most visitors are unaware that there are waterfalls in the state of Indiana.

Indiana’s Tourist Hot Spots Attract New Families to Call Indiana Home

Just one hour from Indianapolis, Cataract Falls is the largest waterfall in Indiana. And then let’s not forget the famous Indianapolis motor speedway. This is home to the Indy 500 as well as the Brickyard 400. If you have never been to the Indy 500, we highly recommend checking it out. It is an exhilarating experience filled with fast cars and loud noises. The events at the Indianapolis motor speedways are always a fun time!

Why Do Indiana Lenders Have Their Own Mortgage Requirements

The state of Indiana has many mortgage borrowers who could benefit from a no overlay platform. Gustan Cho Associates do not have additional lender overlays on our mortgage products. A mortgage overlay is an additional guideline a lender adds to the agency guidelines
put in place by our elected officials. Many lenders do this to protect themselves from additional risk. A few common lender overlays are additional credit score requirements, debt to income threshold requirements, not allowing manual underwriting, and strict rules with collections or charged-off accounts.

Best Mortgage Lenders With No Overlays in Indiana: Over 75% of Our Borrowers Could Not Qualify Elsewhere

Why Do Lenders Have Overlays on VA Loans?

Many lenders have added strict credit score requirements to their mortgage products such as VA loans. Technically, there is not a minimum qualifying credit score for a VA mortgage loan, there are strict payment history requirements, but many lenders require a 620 or even a 640 credit score to utilize a VA mortgage loan. Once again, this is not a guideline, but this is an overlay. The same is true when it comes to debt-to-income ratios. Technically, with an FHA mortgage loan, you can stretch the backend debt to income as high as 56.99%. Numerous lenders will not allow you to go above a debt-to-income ratio of 49.99% as a company overlay.

Qualify for a Mortgage During Chapter 13 Bankruptcy

Gustan Cho Associates also specialize in manual underwriting for our FHA and VA mortgage borrowers. There are numerous reasons why your file may require a manual underwrite including chapter 13 bankruptcy. Since manual underwriting can be confusing, we strongly encourage you to reach out to Mike Gracz and (800) 900-8569 to explain the manual underwriting process.

Gustan Cho Associates Is a Team of Expert Mortgage Professionals and a Master of Agency Guidelines

Gustan Cho Associates Is a Team of Expert Mortgage Professionals and a Master of Agency Guidelines

We as a team will only go off agency guidelines and nothing additional. The agency guidelines are set by major lending institutions such as Fannie Mae, Freddie Mac, and The U.S. Department of Housing and Urban Development. These guidelines are strict, and lenders who add overlays make it even harder to qualify for a mortgage loan.

Indiana Large Veterans Population for VA Loans at Low Rates

With the presence of the Fort Wayne National Guard base which is a base of the United States Air Force, there is a strong military population in the state of Indiana. Gustan Cho Associates are experts with VA mortgage lending. We do not have any lender overlays on our VA mortgage programs so we are able to help more veterans than most banks and lending institutions.

Best Mortgage Lenders With No Overlays in Indiana For Low Rates: Get a Quote

Best Mortgage Lenders With No Overlays in Indiana on Manual Underwriting on FHA and VA Loans

We offer manual underwriting as well as mortgages to our veterans who are currently in structured court-approved Chapter 13 Bankruptcy. If you have been turned down for a VA mortgage loan and do not know why we strongly encourage you to reach out to our team for a second review.

Strong Qualified/Pre-Approved Means The Borrower Will Close on Time

Our operations staff are well-versed in VA mortgage lending and will get your loan to the finish line! For our clients who may not qualify today, we will educate you on how to qualify as soon as possible. We will work with you and your family for as long as you need to buy the home of your dreams. Buying a home is a long-term investment and we do not want to rush the process.

Gustan Cho Associates Has The States, Products, and the Low Rates

Our team offers NON-QM and portfolio mortgage loans in the state of Indiana. This will help borrowers who do not fit the standard (QM = qualified mortgage) lending criteria. We have helped numerous self-employed borrowers in the state of Indiana achieve homeownership through a bank statement mortgage program. Our team is made up of experts in the NON-QM world.

Gustan Cho Associates National Reputation of Being a One-Stop Mortgage Shop

While most banks and lending institutions do not have access to these programs, we have numerous different outlets to help you with your home lending needs. There are great investment opportunities throughout the state of Indiana, and we have many loan programs geared toward real estate investors.

The Team at Gustan Cho Associates are Experts in Owner-Occupant Homes, Second Homes, and Investment Properties

Indiana is a Popular Place for Real Estate Investor

There are many colleges throughout the state where investors are able to buy rental units. If you think your qualifications may fall outside of the standard lending criteria, please call Mike Gracz at (800) 900-8569 or send an email to Mike will pair you with a licensed loan officer in the state of Indiana after reviewing your basic mortgage qualifications.

Why Choose Us at Gustan Cho Associates as Your Indiana Lender?

There are many facts why Gustan Cho Associates is the best mortgage lenders for bad credit in Indiana. We have the states, products, and rates. Being able to do the loan does not make you on the list of the best mortgage lenders for bad credit in Indiana. What good is getting approved on a bad credit home loan in Indiana if the rates are outrageous and have high discount points? Gustan Cho Associates leads as best mortgage lenders for bad credit in Indiana for not just being able to approve bad credit borrowers but on having the lowest rates among other lenders.

Why Gustan Cho Associates Ranks Best Mortgage Lenders With No Overlays In Indiana

As we mentioned earlier, Gustan Cho Associates has a unique business model. Customer is the utmost priority. Without our customers, we have no mission. Our loan officers are chosen to meet our business model and work habits. All of our homebuyers and/or homeowners at Gustan Cho Associates will be able to reach the assigned loan officer, assigned mortgage processors, and support/ops personnel. It is the people that make the team. It is a great team that makes a five-star company. We are proud of every member of our team at Gustan Cho Associates for doubling revenues year after year since 2016.

Over 75% of Our Borrowers are Homebuyers Denied at Other Lenders

Every one of our associates at Gustan Cho Associates is an expert in government and conventional loans, non-QM | Alternative Financing Loans, and hundreds of specialty loan programs. You will be dealing with licensed professionals with many years of my friend.

Gustan Cho Associates is Licensed in 48 States and Has 170 Wholesale Lenders

Gustan Cho Associates are expanding our state licensing coverage slowly but surely. The licensing process is slightly different in each state, but we are growing rapidly. Please reach out to our team if you are in the state of Indiana or need to know if we have coverage in your state. If you need to fact-check on the best mortgage lenders for bad credit in Indiana for 2022, you can easily fact-check and confirm it is Gustan Cho Associates.

Why We Rank As The Best Mortgage Lenders With No Overlays In Indiana

The customer is KING. We are available 7 days a week, evenings, weekends, and holidays for all of our clients. Some of our clients who transferred their mortgage loan to us left because the loan officer did not return calls.  Our team is one large cohesive unit that works incredibly hard to service our clients. Depending on your qualifications, the mortgage process may have some bumps in the road. But we are here to help you through the process. Choosing a highly educated mortgage team can save you numerous headaches down the road. For any mortgage-related questions in the state of Indiana, please reach out to Mike Gracz at (800) 900-8569 or feel free to send an email to
Best Mortgage Lenders For 500 to 620 FICO Borrowers

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