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ByGustan Cho
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In this blog, we will be covering the FAQ on VA loans on eligibility requirements and VA mortgage loan options for first-time homebuyers. There are many FAQ On VA loans on qualification, credit, and eligibility requirements as well as the types of VA loan programs that our viewers often inquiry about. VA loans are the…
ByMike Gracz
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Gustan Cho Associates work with many different families in all different areas of the country. But our clients commonly ask similar questions. In this blog, we will detail some of the most common questions we receive. We will also discuss how to apply for a mortgage with our highly skilled team. If you are a…
ByAlex Carlucci
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Florida homeowners with FHA Loans that closed on their home loans prior to January 26, 2015, don’t miss an opportunity to get an automatic 0.05% reduction in their Florida FHA Annual Mortgage Insurance payment as well as a rate reduction. There’s never been a better time to get the most bang for their buck on…
ByAlex Carlucci
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Gustan Cho Associates like to thank and wish all of our clients, viewers, and partners a very Merry Christmas from Gustan Cho Associates Mortgage Group. The Team at Gustan Cho Associates had a record-breaking 2021 and is looking forward to a spectacular 2022. We have added very talented licensed and support personnel to our growing…
ByAlex Carlucci
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One of the most frequently asked by first-time homebuyers is what are the credit requirements needed to get approved for a mortgage. Every mortgage loan program has its own minimum credit requirements. We will cover the general credit requirements on FHA, VA, Conventional, Jumbo, and Non-QM loans. In general, mortgage companies rely heavily on credit…
ByAlex Carlucci
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Eligible active duty and retired veterans meeting the minimum Washington VA loan requirements can qualify for VA loans with no minimum credit score requirements, no maximum debt to income ratio caps, and no maximum loan limits. Washington has one of the highest home prices in the nation next to California. FHA and conventional loans have…
ByAlex Carlucci
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This article is about a borrower’s testimonial on My Experience with The Gustan Cho Team at Gustan Cho Associates. We will discuss and cover a borrower’s experience with Gustan Cho NMLS 873293 of Gustan Cho Associates Mortgage Group. Many buyers start the mortgage process of mortgage approval by going to their local bank. This is great,…
ByAlex Carlucci
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In this blog, we will cover and explain the Florida FHA loan requirements in detail and advise homebuyers on how to qualify and get approved with bad credit and credit scores down to 500 FICO. Due to the lenient Florida FHA loan requirements, FHA loans are hands down the best mortgage loan program for first-time…
ByGustan Cho
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Many lenders in California have lender overlays on FHA loans due to the state having many high-cost areas.
ByGustan Cho
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This Article Is About Florida Mortgage Rates On Conventional Loans Versus FHA Loans Florida mortgage rates on Conventional Loans in comparison to FHA Loans are higher. Current Florida Mortgage Rates On Conventional Loans on average is 0.50% higher than FHA loans for borrowers with credit scores between 620 and 680 FICO. Florida Mortgage Rates On…
ByMike Gracz
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This Article Is About The Impact Credit Scores Has On Down Payment On Home Purchase: If you are in the market to buy or refinance a home, you know the importance of your credit score. Gustan Cho Associates are experts in all areas of mortgage lending and cannot stress the importance of credit score enough….
ByGustan Cho
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This Article Is About FHA Loan Guidelines Alabama For First-Time Homebuyers and borrowers with bad credit. Due to the lenient FHA loan guidelines Alabama, FHA loans are the most popular loan programs in Alabama. HUD, the parent of FHA, created FHA loans to help hard-working Americans be able to purchase a home with a 3.5%…
ByAlex Carlucci
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This Article Is About Employment Offer Letter Mortgage Programs And Guidelines Recent college graduates can now qualify for a home loan with an employment offer letter mortgage. Employment and income are some of the most important factors when it comes to qualifying for a mortgage. Mortgage underwriters will look at the borrower’s employment history for…
ByGustan Cho
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This Article Is About Asset And Reserves Requirements And Guidelines For Mortgages Homebuyers applying for a mortgage are going to be asked for asset and reserves on their mortgage application. Lenders will want to know where the down payment and closing costs are coming from. Lenders also require the applicant’s bank account information as well…
ByMike Gracz
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This Article Is About NON-QM Home Loan Guidelines For Borrowers With Bad Credit NON-QM Home Loan Guidelines And How It Benefits Borrowers Who Do Not Qualify For Traditional Mortgages: We have all heard the stories of the last-second mortgage denial nightmare. In today’s highly regulated mortgage industry this seems to be a common trend. With…
ByMike Gracz
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This article is about building credit with timely housing payments. One of the strongest credit tradelines consumers can have is by building credit with on-time housing payments. Most landlords do not report rental payments to the credit bureaus. However, there is a way of reporting on-time timely monthly payments to all three credit reporting agencies….
ByGustan Cho
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This Article Is About Credit Score Improvement In Mortgage Process Benefits Rates Credit scores are the biggest determinant of what mortgage rates borrowers get, especially on conventional loans. For FHA loans, if credit scores are under 600, interest rates will definitely be higher. Loan Level Pricing Adjustments (LLPA) are pricing adjustments on borrowers due to…
ByMike Gracz
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This Article Is About Recommended Lender By Realtors Due To Its No Lender Overlays Policy In this article, we will be covering and discussing the recommended lender by realtors and why real estate agents loves the team at Gustan Cho Associates. If you are a real estate professional, you understand how competitive and cutthroat this…
ByGustan Cho
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This Article Is About The Reserves Requirement On Home Loan By Mortgage Lenders Reserves are recommended for all homeowners but are not required on files that gotten an approve/eligible per automated underwriting system findings on single-family homes. All FHA and VA manual underwrites require one month’s reserves. Multi-family family homes require reserves. Reserves cannot be…
ByGustan Cho
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This Article Is About VA Bad Credit Mortgage Guidelines Versus Lender Overlays VA Home Loans are primary residence owner-occupant mortgages only available to active and/or retired members of the United States Armed Services with a Certificate of Eligibility. VA loans is one of three government-backed home mortgage loan programs available in the United States. However,…
ByMike Gracz
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In this blog, we will cover and discuss the coronavirus pandemic impact on lenders and borrowers. Gustan Cho Associates encourage our readers to take the necessary precautions to keep themselves and their loved ones as safe as possible during these times of uncertainty. This worldwide pandemic is something I have never seen in my lifetime….
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