Getting More House For Your Money
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Getting More House For Your Money With Low Property Taxes

This guide covers getting more house for your money with low property taxes.  Getting more house for your money is possible. Getting more house for your money for homebuyers can be done by getting a home with lower property taxes. Property taxes vary widely from state to state and county to county. New Jersey has…

Online Payday Loans
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An Overview in the Best Online Payday Loans For Consumers

This guide covers an overview of the best online payday loans. The best online payday loans can instantly get your money when needed. Deciding on which online loan service is the best depends on your current situation. Payday loans, also known as cash advance loans, paycheck loans, or payday advances, are short-term, high-interest loans typically…

How The VA Mortgage Process Work
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How The VA Mortgage Process Work For Homebuyers

This guide covers how the VA mortgage process work for homebuyers. How the VA mortgage process work? VA loans are the best mortgage loan program for owner-occupant homes. The Department of Veterans Affairs (VA) is the federal agency in charge of VA loans. There are no down payment requirements on VA loans. Lenders offer 100%…

Housing Shortage
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Skyrocketing Home Prices Due To Housing Shortage

This guide covers skyrocketing home prices due to the housing shortage facing homebuyers. The U.S. is facing a severe housing shortage of homebuyers and skyrocketing prices. The housing market was booming before the coronavirus outbreak in February 2020. All states had governors exercise their executive stay-at-home orders and were shut down. Under the watch of…

Home Loan After Multiple Foreclosures
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Home Loan After Multiple Foreclosures Mortgage Guidelines

This guide covers qualifying for a home loan after multiple foreclosures. Homebuyers can qualify for a home loan after foreclosure. There are waiting periods after foreclosure that are mandatory for every mortgage loan program. For example, there is a mandatory waiting period of three years from the recorded foreclosure date to qualify for an FHA…

Buying a house after bankruptcy discharge date.
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Buying a House After Bankruptcy Discharged Date

This guide covers buying a house after bankruptcy discharge date. Buying a house after bankruptcy is possible. Many homebuyers think that bankruptcy is the end of the world when it comes to obtaining credit, especially a mortgage. This is not true. Many people have credit scores higher than 700 FICO less than a year before…

HomeReady Versus Home Possible
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HomeReady Versus Home Possible Mortgage Guidelines

This article covers HomeReady versus Home Possible mortgage guidelines. Many homebuyers contact us at Gustan Cho Associates and want to know the difference between HomeReady versus Home Possible. HomeReady conventional loans are offered by Fannie Mae. Freddie Mac offers Home Possible conventional loans. There is no major difference between Fannie Mae’s HomeReady and Home Possible….

Mortgage Process Timeline From Application To Closing
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Mortgage Process Timeline From Application To Closing

This guide covers the mortgage process timeline from mortgage loan application to closing. There is a mortgage process timeline. The mortgage process timeline is a process. There are steps in the mortgage process. Once you have decided to get a mortgage, whether it is a home purchase or refinancing your current home, there are several stages…

Solutions For No Credit Scores
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Solutions For No Credit Scores on Mortgage Approval

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…

Mortgage Denial By Underwriter
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The Next Steps After a Mortgage Denial By Underwriter

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…

Preparing To Qualify For Conventional Loans
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Preparing To Qualify For Conventional Loans

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….

Choosing the Right Vacation for Your Family and How to Prepare For It
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How To Prepare Choosing the Right Vacation for Your Family

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…

How To Review Credit Report
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How To Review Credit Report During The Mortgage Process

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…

Paying Down Credit Card Balances
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Paying Down Credit Card Balances To Boost Credit Scores

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…

Changes in Credit Report During Mortgage Process
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Changes In Credit Report During Mortgage Process

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…

Changes in Mortgage Guidelines

Changes In Mortgage Guidelines and Housing Market

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…

Apartment Building Loans For Real Estate Investors
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Apartment Building Loans For Real Estate Investors

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…

Can You Get Denied For a Mortgage With Good Credit
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Can You Get Denied For a Mortgage With Good Credit

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…

Home Title Insurance Policy
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Home Title Insurance Policy Guidelines By Lenders

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…