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BySarah Wu
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This guide covers home-buying mistakes by first-time homebuyers. Gustan Cho Associates Mortgage Group offers numerous loan options without LENDER OVERLAYS. The vast array of mortgage options can sometimes be overwhelming for some clients. That is where your loan officer comes into play. Our team has experienced loan officers who will provide the best long-term advice….
ByMike Gracz
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This guide covers the eligibility guidelines for VA Jumbo Home Mortgages. Most veterans know they do not need a down payment to purchase a home. But there are many things Veterans are not aware of, such as the removal of loan limits for VA mortgage loans. Up until 2020, VA loan limits required a down…
ByGustan Cho
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In this article, we will discuss and cover balloon mortgages and how they work. Balloon mortgages are short-term loans with fixed monthly payments, usually based on a 30-year fully amortizing schedule. Balloon loans are for commercial loans only and do not apply to residential mortgages. After the 2008 housing meltdown and subprime mortgage collapse, federal…
ByCharlotte Hopper
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This guide covers what to look for when buying beachfront property in Florida. We will discuss the risks and strategies for buying beachfront property in Florida. With its picturesque coastline and year-round sunshine, Florida has long been a popular destination for beach lovers and real estate investors. Buying beachfront property in Florida can be an…
ByGustan Cho
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Many borrowers are confused about how lenders price mortgage rates. How can mortgage rates just under 3.0% just a little over a year ago hit 6.5% in such a short time? Mortgage rates are hitting historic highs due to the Federal Reserve Board’s increasing rates to fight the skyrocketing inflation rate. Most people do not…
ByRonda Butts
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This blog covers a guide to buying a house in Charlotte North Carolina. While well-established neighborhoods like Myers Park and Dilworth have long been famous for real estate investment, countless hidden gems throughout the city offer incredible growth and return on investment potential. Here is what Alaina Phillips, a dually licensed realtor and loan officer…
ByGustan Cho
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This guide covers the updated non-QM guidelines post-coronavirus outbreak and political scare. Non-QM guidelines are not uniform agency lending guidelines like government and conventional loans. The individual wholesale lender sets Non-QM guidelines. Just because one lender has a set of non-QM guidelines does not mean another will have the same lending requirements. The post-coronavirus updated…
ByGustan Cho
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This guide covers qualifying income guidelines to qualify for home loan. There are federal income guidelines to qualify for home loan. Days of no income verification to qualify for a home loan have long been gone, and it does not seem like they will ever come back shortly. There are strict income guidelines to qualify…
ByRonda Butts
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This guide covers buying a house in Salt Lake City Utah, and how to get approved for a mortgage. Breaking Down the Numbers: A Comprehensive Look at the Salt Lake City Real Estate Market. Are you curiously interested in learning about the real estate market in Salt Lake City? The cost of living index in…
ByGustan Cho
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This guide covers the FHFA FNMA Guidelines updates on Conventional loans. There are FNMA guidelines changes for mortgage loan borrowers on Conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants in the United States that set mortgage requirements for Conventional loans. To qualify, conventional mortgage borrowers must meet the minimum Fannie Mae…
ByRonda Butts
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This guide covers the mortgage process experience after Chapter 13 Bankruptcy. The experience does not have to be stressful. I had the pleasure and honor of meeting Mary B. as a borrower. Now we have become lifelong friends. Mary B., like many, fell victim to the 2008 Real Estate And Credit Meltdown. Due to the…
ByGustan Cho
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This guide covers the waiting period mortgage guidelines after housing events and bankruptcy. Homebuyers with prior bankruptcy, foreclosure, deed-in-lieu of foreclosure, or short sale have a mandatory waiting period to qualify for a mortgage. FHA, VA, and USDA loan programs have a waiting period of 2 years after Chapter 7 bankruptcy. Waiting period mortgage guidelines…
ByAlaina Phillips
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This guide covers the complete maintenance checklist for Florida homes. Maintenance checklist for Florida homes is not an option but a necessity. With the harsh Florida temperatures and ferocious climate, maintenance checklist for Florida homes should be done annually and as needed than homes in other states. In this guide, we will discuss the seven…
ByRonda Butts
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This guide covers the benefits of open houses for homebuyers and sellers. There are many reasons why a homeowner decides to sell their home. Home Sellers normally hire a listing real estate agent when they market and sell their homes. The listing agent is responsible for marketing the home for top dollar to the seller…
ByAlex Carlucci
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This guide covers qualifying for jumbo loans with lower credit scores and debt-to-income ratios up to 50% with traditional and non-QM loans. Qualifying for jumbo loans with lower credit scores and a 50% debt-to-income ratio at competitive rates is possible at Gustan Cho Associates. Gustan Cho Associates are commercial and residential mortgage lenders. Gustan Cho…
ByRonda Butts
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This guide covers buying a house in Georgia for first-time homebuyers and buyers from other states. We will cover finance options for self-employed borrowers, borrowers with need high-end homes, borrowers with low credit scores and bad credit, and homebuyers who need alternative mortgage options. We will cover the up-and-coming areas in Georgia, especially Atlanta and…
ByRonda Butts
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This blog will discuss buying a home in Hawaii with bad credit. Hawaii is one of the most beautiful places in the world. Many people relocate to Hawaii, especially retirees. Thousands of people have goals of buying a second home in Hawaii. It is no secret everything is expensive in Hawaii, including home prices….
ByRonda Butts
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What New Residents Say About Tennessee After Moving There Gustan Cho Associates Mortgage Group is a national lender licensed in multiple states. Many of our clients leave high-taxed states for the Great State of Tennessee. This is what one of our borrowers who recently closed on their home said about making Tennessee their new home….
ByRonda Butts
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In this article, I provide a step-by-step guide for first-time buyers and answer common questions concerning a home purchase in the Chicago area.
ByGustan Cho
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This guide covers why rent when you can own a home. We will discuss the advantages of owning versus renting a home. We have discussed the advantages of owning versus renting in previous blogs. Every renter should seriously consider buying a home, and when they realize how easy it is, they will question why rent…
ByGustan Cho
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In this guide, we will cover what is lender-paid mortgage insurance on conventional loans. Lender-paid mortgage insurance is also referred to as LPMI. Lender-paid mortgage insurance applies to Conventional loans only. Private Mortgage Insurance is required for all Conventional loans with less than a 20% down payment. This blog will cover the answer to what is…
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