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ByAlex Carlucci
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This guide covers solutions for no credit scores on mortgage loan approvals. There are cases where consumers do not have any credit scores because they never applied for credit and have no credit. There are solutions for no credit scores qualifying for a mortgage. This is common for many young folks who have just entered…
ByGustan Cho
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This guide covers taking the next steps after getting a mortgage denial by underwriter. There should be no mortgage denial if the borrower was properly qualified for a home loan. Borrowers need to be very cautious with their finances and credit during the mortgage loan approval process. Make sure not bounce checks or apply for…
ByGustan Cho
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This guide covers preparing to qualify for conventional loans versus other mortgage loan programs. Preparing to qualify for conventional loans is often required for some mortgage borrowers who cannot go with an FHA loan. Every home mortgage program has its own mortgage lending guidelines. There are instances where borrowers cannot take out an FHA loan….
ByAlex Carlucci
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This guide covers preparing and choosing the right vacation for your family. Planning a family vacation takes work, but it can be a lot of fun. Knowing where to look for the best travel deals can be key. It helps to stretch your budget further without sacrificing one minute of the experience. Once you’ve narrowed…
ByGustan Cho
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This guide covers how to review credit report during the mortgage process. We will be discussing how to review credit report for errors before applying for a mortgage. An accurate credit report will avoid delays in the mortgage process and may boost your credit scores. Homebuyers should always review their credit reports before applying for…
ByGustan Cho
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This guide covers paying down credit card balances to boost credit scores and lower high debt-to-income ratios to qualify for a mortgage and get approved for new credit. Debt-to-income ratios are among the most important factors a mortgage underwriter will consider when qualifying borrowers. Paying down credit card balances is the fastest and easiest way…
ByGustan Cho
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This guide covers changes in credit report during mortgage process. Credit scores and debt-to-income ratios determine whether borrowers qualify for a home loan and the type of loan program borrowers qualify for. Lenders do not only go by credit scores. Mortgage underwriters will also review the credit report and the credit history. Late payments in…
ByAlex Carlucci
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This guide covers changes in mortgage guidelines for the government and conforming loans. HUD, the parent of FHA, has made over 20 changes due to the growing pressure from the Consumer Finance Protection Bureau to abide by the ability to repay rule (i.e., qualified mortgage). As a result, more documentation will be required, and more…
ByDale Elenteny
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This guide covers apartment building loans for real estate investors. Gustan Cho Associates are experts in apartment building loans. Apartment building loans fall into the category of commercial real estate loans. They are very popular in today’s market. Most lenders want the borrower to put in a 20% down payment. Others require a 25% down…
ByGustan Cho
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This guide covers the frequently asked question of whether can you get denied for a mortgage with good credit. Income, credit, credit scores, assets, and liabilities are all majorly in the mortgage approval process. Two of the most important factors at the initial mortgage qualifying state are debt-to-income ratios and credit scores. Income plays the…
ByAlex Carlucci
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This guide covers home title insurance policy guidelines by lenders. A home title insurance policy is a contract of indemnity between the insured and the insurance company relating to the title to the land described in the policy. A Home Title Insurance Policy protects the insured against loss or damage because of defects, liens, or…
ByGustan Cho
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This guide covers investing in Chicago real estate. Many homebuyers love the City of Chicago, where they would not consider living other than Chicago or the nearby suburbs. Others will only invest in commercial real estate in Chicago and nearby suburbs. In this guide, we will discuss investing in Chicago real estate. Many people would…
ByDustin Dumestre
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A contingent sales agreement in real estate is a contract that includes one or more contingencies. Contingencies are conditions that must be fulfilled before the sale can be finalized. Common contingencies involve inspection, appraisal, financing, and selling an existing home. Each contingent sales agreement in real estate has a specified timeframe for the buyer to…
ByAnngelli Abenes
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This guide covers the differences between FICO and VantageScore Credit Scores. We will explain the differences between FICO and VantageScore credit scores in mortgage lending and rebuilding credit. Understanding the differences Between FICO and VantageScore is important when rebuilding credit and applying for a mortgage. FICO and VantageScore are the two most widely recognized scoring…
ByGustan Cho
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In this blog, we will cover and explain home equity. Home values have skyrocketed over the past few years. Many homeowners are taking advantage of their home equity and doing a cash-out refinance. Proceeds from cash-out refinance loans are tax-free, and the borrower can spend it where they see fit. If you intend on paying…
ByAlex Carlucci
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This guide covers the dream of owning your own home. The dream of owning your own home is a common aspiration for many people worldwide. It represents a significant milestone in one’s life and is often seen as a symbol of financial stability, security, and personal achievement. Here are some key aspects and reasons why…
ByAlex Carlucci
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This guide covers understanding mortgage forbearance for homeowners who cannot pay their monthly housing payments. Phase three of the coronavirus pandemic economic stimulus package included assistance for homeowners eligible for forbearance. Homeowners financially affected by the economic meltdown due to the pandemic can defer their mortgage payments for six months. After six months, borrowers can…
ByApril Ramirez
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In this blog, we will explain how Gustan Cho Associates goes above and beyond for their clients by having strong lending partnerships with the best wholesale mortgage lenders for non-prime loans with fair pricing on rates. We will cover and discuss the difference between using mortgage brokers versus mortgage bankers. Christian Sorenson, a wholesale account…
ByGustan Cho
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This guide covers home repairs. We will thoroughly explain fixing common problems in your home. Your home is your sanctuary, comfort zone, and biggest investment. But remember that it also requires regular maintenance and repairs to keep it in good shape and prevent bigger problems. Whether you’re a homeowner or a renter, you may encounter…
ByGustan Cho
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This guide covers the crisis in Florida homeowners insurance. Many insurance companies are getting out of the Florida homeowners insurance marketplace. It is costing insurance companies billions of dollars to insure a typical home in the state of Florida. Consider the company’s reputation and customer service. Research the reputation of the insurance companies you are…
ByGustan Cho
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This guide covers exploring the enchanting features of Manatee County Florida. Nestled along the picturesque Gulf Coast of Florida, Manatee County boasts a wealth of natural beauty, vibrant communities, and an array of attractions. Named after the gentle and majestic sea creatures that inhabit its waterways, Manatee County offers a diverse range of features that…
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