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ByAlex Carlucci
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Borrowers looking to qualify for a home loan with bad credit Ohio have options with traditional and/or non-traditional mortgages. The Ohio housing market has been bullish for the past few years. Many renters who were planning on buying a house after a few years are now planning on buying a house now before rates increase…
ByAlex Carlucci
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In this blog, we will cover and discuss qualifying for a high-balance FHA loan with FHA Jumbo Lenders in Hawaii with no lender overlays. Many FHA lenders in Hawaii have lender overlays on high-balance FHA loans. FHA Jumbo Lenders in Hawaii believe high-balance FHA loans pose higher risk factors. Therefore, FHA Jumbo Lenders in Hawaii…
ByAlex Carlucci
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In this blog, we will cover and discuss QM-Qualified Mortgages versus non-QM loans. We will explain what QM-qualified mortgages are and when they went into effect. QM-qualified mortgages focus on the borrower’s ability to repay. QM-Qualified Mortgages took effect on January 10, 2014. In essence, QM-Qualified Mortgages is trying to create a standard mortgage guideline…
ByGustan Cho
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There is a major difference in qualifying for an FHA Loan With Bad Credit Versus Late Payments. FHA loans are the best loan program for homebuyers with less-than-perfect credit. HUD, the parent of FHA, is very forgiving with prior bad credit. HUD is a federal agency that sets FHA Agency Mortgage Guidelines. Lenders need to have their…
ByMike Gracz
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The one-time construction loan close for new construction homes enables homebuyers to purchase land, build, and permanently finance a new home.
ByCrisartia Torres
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In this blog, we will cover and discuss the equity release scheme mortgage option for senior homeowners. We will be covering how the equity release scheme works for homeowners with equity where they do not have to sell the house or move out of their home. As you pay down your mortgage, the amount of…
ByGustan Cho
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In this guide on millennials and mortgages, we will cover tips for millennial home buyers going from renting to becoming a homeowner. Many millennials are realizing the skyrocketing home prices and high rates. If they do not act on buying a home now, they will lose their chance of ever becoming a homeowner. We have…
BySapna Sharma
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In this mortgage guide in Gustan Cho Associates we will cover what predatory lending laws are. Predatory Lending is the practice where the mortgage lender benefits and the borrowers are taken advantage of. This type of lending is against the law. It benefits the lender and the borrower’s ability to repay their mortgage loan is…
ByAlex Carlucci
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In this blog, we will cover and discuss changing jobs during mortgage approval process. There are cases where mortgage loan borrowers change jobs during the mortgage approval process or prior to starting the mortgage process. Many folks realize that changing jobs during the mortgage approval process can cause mortgage closing delays. But it is not…
ByMike Gracz
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In this blog, we will cover and discuss buying a home with a VA loan with no money down. If you are a veteran and bravely served our country, this article is for you. The team at Gustan Cho Associates are experts in VA mortgage financing. If you have been following our blogs, you are…
ByAlex Carlucci
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One of the most frequently asked questions is how much income do I need to buy a house in 2022. In this article, we will answer the question commonly asked, How Much Income Do I Need To Buy A House In 2022? The housing market is booming. Despite the coronavirus pandemic, home prices have skyrocketed…
ByAlex Carlucci
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In this blog, we will be covering the difference between conditional mortgage approval versus pre-approval during the mortgage process. There are several stages in the mortgage approval process. When a home buyer is ready to start shopping for a home, they consult with a lender. A loan officer will qualify the home buyer and see…
ByMike Gracz
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What Are The Rules On FHA Loan Collection Accounts With Outstanding Balances
ByGustan Cho
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Home inspections are not required. Home Appraisals are required by lenders. However, a home inspection is highly recommended and worth the investment for homebuyers.
ByGustan Cho
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In this blog, we will discuss and cover walking away after a home inspection. A home inspection on a home purchase is normally done by homebuyers before the home appraisal. Home inspections are not required by mortgage lenders. However, it is highly recommended for homebuyers to get a home inspection done. There are instances when…
ByMike Gracz
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In this article, we will discuss and cover lenders changing mortgage guidelines post COVID-19 ERA due to skyrocketing rates, market volatility, and an unstable housing market. We will be comparing mortgage lenders changing mortgage guidelines due to liquidity issues in the secondary mortgage bond market. The coronavirus pandemic had lenders changing mortgage guidelines due to…
ByMike Gracz
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In this blog, we will cover and discuss the non-QM mortgage update from non-prime lenders. Ever since the coronavirus outbreak in February 2020, there have been many changes in non-QM mortgage loans. Non-QM mortgage update from non-prime lenders seems like it is happening more often than any other mortgage program. Recently non-QM mortgage lender Sprout…
ByGustan Cho
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In this blog, we will cover and discuss when is the best date to qualify for a mortgage after a short sale. Homeowners who had a prior short sale can qualify for a mortgage loan after the short sale. This holds true as long as they meet the mandatory waiting period after a short sale….
ByGustan Cho
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In this article, we will cover and discuss how mortgage lenders determine interest rates. Many home buyers and homeowners often get confused when they shop for rates on how mortgage lenders determine rates. Mortgage borrowers should be aware of the various how mortgage lenders determine rates prior to applying for a mortgage. Not all borrowers…
ByGustan Cho
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In this blog, we will cover and discuss FNMA waiting period guidelines after foreclosure for 2022. Conventional loans are often referred to as conforming loans because they need to conform to Freddie Mac and/or Fannie Mae guidelines. If lenders do not make sure conventional loans they originate and fund do not conform to FNMA or…
ByGustan Cho
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In this blog, we will cover and discuss the student loans mortgage guidelines on government and conforming loans. We will cover and fully go into depth about qualifying for a mortgage with large outstanding student loans. There have been major updates on student loans mortgage guidelines on FHA and conventional loans. Higher student loan balances…
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