Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByAlex Carlucci
Posted on
This Breaking News Article Is About States Attracting New Taxpayers Due To Low Taxes And Cost Of Living 2020 is finally over and we are off to a new start in 2021. Americans faced many challenges in 2020. Americans have been able to endure 2020 with the health, economic, and political impact on us as…
ByGustan Cho
Posted on
This Article Is About Myths And Truths About Conventional Loans Versus FHA Mortgages What do you believe is the most pervasive myth about conventional mortgage financing? When people think of conventional loans, they think they need a 20% down payment and great credit. This is not true. Conventional loans are not backed by any government…
ByGustan Cho
Posted on
This Article Is About Conforming Down Payment Guidelines For Home Buyers Conventional Loans are called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Guidelines. Conforming Loans are not government loans. The Federal Housing Finance Agency (FHFA) regulates Fannie Mae and Freddie Mac. Why do conforming loans need to conform to…
ByMike Gracz
Posted on
This Article Is About The Importance Of Having Homeowners Hazard Insurance For Homeowners A home is most people’s single largest investment in their lifetime. Homeowners Hazard Insurance is mandatory by lenders on homes with a mortgage. Buying a home is an exciting process. Protecting your single biggest investment should be exciting as well. Unless you…
ByAlex Carlucci
Posted on
This Article Is About Documents Required By Lenders To Close Mortgage On Time Most people dread the thought of providing documents required by lenders. The mortgage process does not have to be stressful. The number one reason for delays in the home loan process is due to borrowers not providing documents required by lenders timely…
ByGustan Cho
Posted on
This Article Is About Changes In Mortgage Lending And Guidelines And How It Affects Buyers 2021 has come and is almost gone in several weeks. 2021 was a tough year for Americans due to the coronavirus outbreak last year in February 2020. It was a very tough year in mortgage lending. Mortgage Rates have increased…
ByGustan Cho
Posted on
This Article Is About How Do Underwriters View Charge Off Accounts With Balances Home Buyers Can Now Qualify Mortgages With Charge Off Accounts With Balances. All government and conventional loans that are owner-occupant home loans do not require outstanding collections and charged-off accounts to be paid in order for borrowers to qualify for a mortgage….
ByMike Gracz
Posted on
This ARTICLE Is About VA Loans Alabama Mortgage Guidelines With No Lender Overlays Alabama is on the map. The state borders one of the hottest states in the nation, Florida. Alabama is one of the top states residents from high-taxed states are migrating to. A large percentage of New Yorkers fleeing the state to lower-taxed…
ByGustan Cho
Posted on
This Article Is About Debt Versus Credit Scores During Mortgage Qualification There is a negative impact on debt versus credit scores. If you have credit cards with high credit balances, that will negatively impact your credit scores. The good news is that paying down credit card balances will boost credit scores. Here is the scoop…
ByGustan Cho
Posted on
This Article Covers 85% LTV Jumbo Loans Versus 90% LTV Non-QM Mortgages. Topics to be Covered in This Article: Gustan Cho Associates offers traditional 90% LTV jumbo mortgages with at least a 660 credit score and 50% LTV. We offer both traditional and non-QM jumbo loans. The maximum debt to income ratio cap is up…
ByGustan Cho
Posted on
This Article Is About Mortgage Insurance Premium On NON-QM Mortgage Loans Lenders will require a mortgage insurance premium on borrowers who have less than 20% equity in their home purchase. The mortgage insurance premium is commonly referred to as MIP. MIP is paid by the borrower for the benefit of the lender. Mortgage insurance premiums…
ByGustan Cho
Posted on
This ARTICLE Is About Jumbo Loans After Foreclosure With No Waiting Period Requirements The U.S. Housing Market is booming in the majority of counties in the Nation. Home prices are literally skyrocketing. Both HUD and the FHFA realize this. Many homebuyers are getting priced out of the housing market due to skyrocketing home prices. For…
ByGustan Cho
Posted on
This Article Is About FHA Automated Findings With Low Credit Scores And High DTI It will be much more difficult getting an FHA Automated Findings Approval on the automated underwriting system (AUS) this year. HUD, the parent of FHA, has changed its algorithms on the automated underwriting system. The algorithm changes make it much more…
ByAlex Carlucci
Posted on
This article covers Owner Financing On Home Purchase For Buyers And Sellers Owner financing is a great option for homebuyers who cannot qualify for a mortgage from a lender and need time to either re-establishing their credit or to document their income. Owner financing offers benefits for both home buyers and sellers. For home buyers…
ByGustan Cho
Posted on
This article covers DIY Tips For Homeowners On Home Improvements Good Morning world and happy Friday to all of you. I don’t know about you but I woke up this morning with an exceptionally high energy count knowing that today is going to be a great day. I’m currently at my daughter’s school doing some…
ByGustan Cho
Posted on
You cannot dispute derogatory credit tradelines during the mortgage process unless they are exempt from retraction. Any non-exempt credit disputes will suspend and halt the mortgage process.
ByGustan Cho
Posted on
This Article Is About FHA Loan Credit Guidelines Versus Lender Overlays The U.S. Department of Housing and Urban Development (HUD), which is the parent of the Federal Housing Administration (FHA), is not a mortgage lender but an insurance provider for all FHA loans in this country. FHA loans are extremely popular due to the government…
ByGustan Cho
Posted on
This Article Is About What Do Mortgage Lenders Want To See In A Borrower The number one concern lenders have and want to see in a borrower is the ability to repay their new mortgage. This is why lenders are very careful when qualifying, processing, underwriting, and approving a mortgage loan for a borrower. The…
ByDale Elenteny
Posted on
Lenders are really strict and can nit-pick during the mortgage process due to tough mortgage regulations. Mortgage regulators can fine lenders. If lenders do not follow mortgage regulations, the mortgage loans the lender closes, and funds may not be able to get sold on the secondary market.
ByAlex Carlucci
Posted on
This Article Is About Removing Negative Items To Qualify For Mortgage Gustan Cho Associates are experts in advising borrowers in rebuilding and boosting their credit scores to qualify for a mortgage. Removing negative items to qualify for a mortgage is recommended in certain circumstances but not all circumstances. We will discuss the pros and cons…
ByGustan Cho
Posted on
Condos are becoming very popular for millennials, young busy professionals, and the elderly. However, lending standards are tougher on condos versus single-family homes.
CALL NOW