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ByGustan Cho
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In this blog, we will discuss and cover duplex mortgage loans down payment guidelines. A duplex is a two-unit multi-unit residential housing unit. HUD, the parent of FHA, allows homebuyers to qualify for a 3.5% home purchase FHA loan on an owner-occupant one to four-unit home. The owner needs to occupy one of the units…
ByGustan Cho
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What To Do If Homeowners Cannot Afford Property Taxes: Every homeowner has to pay property taxes. Homeowners who own home free and clear, property taxes must be paid. Homeowners insurance is optional for homeowners who own their property free and clear However, all lenders will require borrowers to have homeowners insurance All property taxes will…
ByGustan Cho
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This Article Is About VA Loan Denial And Getting Qualified With Lender With No Overlays There should be no reason why anyone should get a VA Loan Denial. Unfortunately, there are many borrowers who either get a last-minute mortgage loan denial or major stress during the mortgage process. There is one reason and one reason ONLY…
ByGustan Cho
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Have you ever wonder what is government shutdown and effects to mortgage programs? A government shutdown occurs when non-essential federal government offices close because of lack of approval on the federal budget for the upcoming fiscal year. This event can significantly impact various sectors of the economy. These includes the housing market and mortgage programs….
ByAnngelli Abenes
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There are certain debts that can be exempt from debt to income ratio calculations on conventional loans.
ByAnngelli Abenes
Posted on
In this blog, we will cover and discuss Chicago First Responders Homes For Heroes Mortgage Program. We have can help Chicago police officers and Chicago firefighters who are seeking a home loan with bad credit. Many decorated Chicago Police Officers and Firefighters have been affected by the 2008 Great Recession And Real Estate Market Crash….
ByAnngelli Abenes
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This blog will discuss the HUD and Fannie Mae Guidelines on credit disputes during the mortgage process. We will outline the key points from the most recent updates to the HUD and Fannie Mae guidelines on credit disputes. Credit disputes occur when a consumer finds errors on their credit report that shouldn’t be there. The…
ByAnngelli Abenes
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This guide covers choosing the right mortgage company for loan officers. Choosing the right mortgage company for loan officers is one of the most important decisions a mortgage loan originator needs to make. John Strange, a senior loan officer at Gustan Cho Associates, explains choosing the right mortgage company for loan officers to start their…
ByGustan Cho
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Understanding Credit Score Guidelines Versus Lender Overlays during the coronavirus pandemic is important. A detailed analysis of the covid 19 situation highlights that none of the key stakeholders involved namely HUD, VA, USDA, Fannie Mae and Freddie Mac altered or hiked minimum credit score prerequisites. The coronavirus pandemic that began in early 2020 affected the…
ByMike Gracz
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BREAKING NEWS: Refinancing During Coronavirus Pandemic Mortgage Crisis Hurdles with Refinancing During Coronavirus Pandemic Mortgage Crisis: With all the global news surrounding the COVID-19 coronavirus outbreak, there is a strong surge of refinance mortgage transactions. In this blog, we will give a quick update on the coronavirus affecting mortgages and how to complete a refinance…
ByGustan Cho
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This ARTICLE Is About Buying House During Chapter 13 Repayment Plan Mortgage Guidelines Buying House During Chapter 13 Repayment Plan is allowed only with FHA and VA loans. Borrowers can qualify for FHA and VA loans without the Chapter 13 Bankruptcy is discharged. FHA and VA are the only two mortgage loan programs that allow…
ByAlex Carlucci
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In this article, we will cover and discuss the steps to selling a house with a realtor fast for top dollar. We interviewed John Hartnett, a veteran licensed Illinois real estate agent who is an expert in representing both home sellers and buyers in the Chicagoland area. Do you want your home to look like…
ByAnngelli Abenes
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It is no secret that mortgage interest rates are at historic lows. The COVID-19 pandemic has affected every global market, including the United States mortgage market. While historic lows are currently experienced in interest rates, all signs indicate an imminent increase. If you have been following the news, you know that the Federal Reserve announced…
ByGustan Cho
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This guide compares FHA versus conforming mortgages, the two most popular mortgage loan programs for homebuyers in the United States. Which program should homebuyers choose? Both have pros and cons. Sometimes, borrowers may qualify for FHA loans instead of conforming mortgages. Conversely, some borrowers who qualify for conventional loans may not qualify for FHA loans….
ByAnngelli Abenes
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Florida, the most southern state in the United States, has a strong economy fueled by manufacturing, building, global finance, healthcare services, medical research, education, and aerospace and defense. However, Florida’s main source of income is tourism. Travelers love to explore local attractions and the white sandy beaches, often opting for car rentals, including“Miami car rentals…
ByMike Gracz
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Tennessee Home Prices Continue to Rise in 2024 Tennessee boasts a healthy state government with a surplus, which is excellent news for the state’s financial health. Many residents from financially struggling states like Illinois are moving to Tennessee. The state attracts numerous residents from high-tax states such as Illinois, Wisconsin, California, New York, New Jersey,…
ByGustan Cho
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In this article, we will discuss and explain the guidelines for VA loans with under 620 credit scores. VA loans are considered the best mortgage loan program available for home buyers. However, VA Home Loans are exclusively available to Veterans of the United States Armed Forces who possess a valid Certificate of Eligibility (COE). Importantly,…
ByGustan Cho
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This guide covers how to qualify for a mortgage by buying a home in another state. Buying a home in another state is becoming more and more popular. Many employers now offer remote positions where workers do not have to report to a local brick-and-mortar branch office. Many industries are now either closing many of…
ByGustan Cho
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This guide covers conventioal loan after short sale vs foreclosure guidelines. Since 2008, millions of Americans have witnessed their equity in their homes evaporate. The real estate and credit meltdown of 2008 has devastated many hard-working families. The Great Recession of 2008 was more of a depression than the Great Recession. Record bankruptcies, foreclosures, and…
ByGustan Cho
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This article discusses the first time home buying process, emphasizing that it starts with pre-approval. The initial step for those currently renting or living with family and are first time home buyers is to consult with a mortgage lender. The most critical stage of the first time home buying process starts with getting pre-approved. Over…
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…
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