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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….
ByGustan Cho
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This Breaking News Is About LLPA During Coronavirus Pandemic Mortgage Crisis. Understanding LLPA During Coronavirus Pandemic Mortgage Crisis. The coronavirus pandemic has created disruption and chaos in the secondary mortgage bond markets. Loan Level Pricing Adjustments are commonly referred to as LLPA. LLPA’s are pricing adjustments on mortgages. Lenders determine mortgage rates based on risk…
ByMike Gracz
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Breaking News: This Breaking News Article Is About CARES ACT Forbearance Extended On Mortgages For Homeowners. Great news for homeowners who are still having financial difficulties due to the coronavirus pandemic. As Americans continue to deal with the aftermath and chaos from the shutdowns caused by the COVID-19 coronavirus outbreak, the Federal Housing Finance Agency…
ByAlex Carlucci
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BREAKING NEWS: The Coronavirus Mortgage Meltdown And How MBS Process Works. The Coronavirus Mortgage Meltdown is impacting the real estate and mortgage industry. The Coronavirus Mortgage Meltdown caused the mortgage markets in chaos. The Coronavirus Mortgage Meltdown created confusion not just among borrowers but also loan officers and other mortgage and real estate professionals. The…
ByGustan Cho
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This Article Is About Jumbo Mortgage Eligibility Requirements On High Priced Homes Jumbo mortgage eligibility requirements and guidelines are more strict than government and/or conventional loans. Any mortgage loan balance that is higher than the conforming loan limit of $548,250 is considered a jumbo mortgage. Jumbo loans are also referred to as non-conforming loans because…
ByGustan Cho
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This ARTICLE Is About The Difference Between Mortgage Lender Versus Servicer What are the major Difference Between Mortgage Lender Versus Servicer? We will discuss the various types of lenders in this article. The Difference Between Mortgage Lender Versus Servicer is the lender will initially fund the home loan. The lender will use their own funds…
ByGustan Cho
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This Article Is About The Waiting Period After Loan Modification To Qualify For FHA Loan A home loan modification is when a mortgage lender will agree to change the terms of the original mortgage loan in order to lower borrowers monthly mortgage payment. Reasons why lenders offer modifications is because borrowers are not able to…
ByGustan Cho
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This Article Is About NON-QM Loans For Real Estate Investors Qualification Requirements Gustan Cho Associates now offers NON-QM Loans For Real Estate Investors. Until the creation and launch of NON-QM Loans For Real Estate Investors, most investors relied on high-interest hard money loans. Real estate investors relied on using hard money loans with interest rates higher…
ByMike Gracz
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This Article Is About How Mortgage Forbearance Affected The Housing Market: How Mortgage Forbearance Affected The Housing Market In The United States: It is no secret that the housing market has been greatly affected from the global COVID-19 coronavirus outbreak. The United States Congress enacted the C.A.R.E.S. ACT which set forbearance protection for individuals and…
ByDale Elenteny
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This Article Is About Turning A Profit Flipping Homes In Today’s Booming Housing Market Real estate investors can be turning a profit flipping homes in today’s booming housing market. There are many pre-approved borrowers at Gustan Cho Associates who have been looking for homes for over one year. Due to the strong demand of homes…
ByGustan Cho
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This ARTICLE Is About Should I Buy a House That Needs Renovation And Rehab Buying property can be one of the biggest expenses you’ll ever encounter and, as a result, many people look for those seemingly great deals in fixer-uppers. The main question here is if should I buy a house that needs renovation? Sometimes it seems…
ByGustan Cho
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This Article Is About How Can Homeowners Hold Title On Home Purchase One of the most common questions we get from our borrowers is how can homeowners hold title on a home purchase. Homeowners do not have to be on the mortgage note to be on title to the property. There are countless incidents where…
ByGustan Cho
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This Article Is About The Things To Avoid Selling Your Home And Mistakes To Avoid Great news for homeowners who were stuck from selling their homes due to their homes being underwater. The real estate market is hot nationwide. With mortgage rates increasing at a record pace, the housing market is still hot with no…
ByMike Gracz
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This BLOG On Houston Housing Market For Veterans Of Our United States Military The Great City of Houston, Texas is controlled by Oil and Gas, Agriculture, and The Maritime the Texas economy is one that will stand the test of time and flourish. Texas also has one of the highest populations of active, retired, and…
ByGustan Cho
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This Article Is About The Loss Of Employment During Mortgage Process And How It Affects CTC What If My Loan Application Is Denied Due To Loss Of Employment During Mortgage Process? Income is one of the most important factors when qualifying for a mortgage. You can have the best credit in the world but with…
ByAlex Carlucci
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This Article Is AboutThe Real Truth About Unemployment And Qualifying For Mortgage Here’s something that most Americans including the smartest and most educated don’t know is that the official unemployment rate as reported by the U.S department of labor, is extremely misleading. Lately, we’ve been hearing much celebrating from the media, the White House, and…
ByGustan Cho
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This Article Is About Florida FHA Loan With Bad Credit And High Debt To Income Ratio Homebuyers can now qualify for Florida FHA Loan With Bad Credit, high debt to income ratios, and outstanding collections & charge-off accounts with Gustan Cho Associates. Most mortgage loan applicants do not bother trying to get qualified for FHA…
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