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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
Posted on
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…
ByAlex Carlucci
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In this article, we will cover and discuss what to do with proceeds from sale of a house. A frequently asked question is what to do with proceeds from sale of a house if you are going to take a break from homeownership. Home prices have been skyrocketing for almost a decade. Homeowners who are…
ByAlex Carlucci
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In this blog, we will discuss and cover the bankruptcy mortgage guidelines on government and conventional loans. All mortgage loan programs have a mandatory waiting period after bankruptcy and foreclosure. Borrowers need to adhere to Bankruptcy Mortgage Guidelines to qualify for a residential mortgage loan. In the following sections, we will through the bankruptcy mortgage…
ByAlex Carlucci
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In this article, we will discuss and cover how FHA credit score determines mortgage rate pricing on FHA loans. FHA loans are the most popular loan program in the United States. FHA Credit Score Guidelines are very lenient to qualify for FHA Mortgages. Borrowers with credit scores down to 500 FICO can qualify. Per the…
ByGustan Cho
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In this blog, we will discuss and cover what is an 60-10-10 piggyback mortgage. Many Home Buyers Ask What Is An 80-10-10 Or Piggyback Mortgage And How This Powerful Tool Can Help Them Qualify To Make Their Home Purchase Happen. What is an 80-10-10 or Piggyback Mortgage? An 80-10-10 or Piggyback Mortgage is a combination…
ByGustan Cho
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In this article, we will cover and discuss avoiding delays in getting conditional mortgage approval. There are ways of avoiding delays in getting a conditional mortgage approval and closing on time: Conditional mortgage approval is a loan commitment by the mortgage lender. A conditional mortgage approval means that the lender is ready to issue a…
ByMike Gracz
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Many Americans are familiar with the terms Fannie Mae and Freddie Mac, but may not know exactly what they represent. Many believe Fannie Mae and Freddie Mac are branches of the federal government. The role of Fannie Mae and Freddie Mac is to guarantee conventional mortgage loans. After the real estate crash of 2008, the…
ByMike Gracz
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In this blog, we will discuss and cover the VA funding fee mortgage guidelines for VA home loans. VA loans are the best loan program for owner-occupant primary home financing in the United States. One of the greatest benefits for homebuyers who have served in the U.S. Armed Services is the benefit of being eligible…
ByGustan Cho
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In this blog, we will discuss and cover the benefits of buying home on acreage versus home on lot for homebuyers. There are many benefits of buying home on acreage versus home on lot. There are many things for a home buyer to consider when buying a home. Buying a home is not like buying…
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