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ByAlex Carlucci
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This Article Is About How Do Principal Payments Work On Home Mortgages One of the most frequently asked questions by first-time homebuyers often ask How Do Principal Payments Work On Home Mortgages. The two basic components that make up a monthly mortgage payment are principal and interest Every month, when homeowners make their scheduled monthly…
ByAlex Carlucci
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BREAKING NEWS: The impact of the coronavirus outbreak on Non-QM lender. The impact of the coronavirus outbreak on Non-QM lenders hit the mortgage and housing industry hard: All non-QM mortgage companies have halted funding mortgages. Many have already gone out of business. Non-QM loans are alternative mortgages that have been becoming very popular. Many non-QM…
ByGustan Cho
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This Article Is About How Student Loans Affect Qualifying For Mortgage Two types of debts are the biggest hurdles most home buyers will encounter when qualifying for a mortgage loan. They are student loan debts and automobile monthly payments Student loan debts can be tens of thousands of dollars A car payment can be a minimum…
ByMike Gracz
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This Article Is About Advice In Moving Out Of Your Parents House And Buying First Home Tips and Advice In Moving Out Of Your Parents House and buying a first home: Let’s face it, living with your parents has its ups and downs I remember when I lived with my mother after college It was…
ByGustan Cho
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This Article Is About Mortgage With High DTI Guidelines On Home Loans Qualifying for a mortgage with high DTI can be very challenging. The reason why qualifying for a mortgage with high DTI is extremely challenging This is because most lenders will have overlays on debt to income ratios This often causes a loan denial…
ByMike Gracz
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This Article Is About VA Forbearance Guidelines During The COVID-19 Outbreak It is no secret that mortgage interest rates are near all-time lows and the mortgage industry is busier than normal. The COVID-19 coronavirus outbreak has sparked a burst in the refinance market across the nation Data shows there are trillions of dollars’ worth of…
ByAlex Carlucci
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This Article Is About Non-QM Eligibility Guidelines On Non-QM Mortgage Loans As the major regulatory agencies continue to tighten the guidelines on mortgage lending, the NON-QM mortgage products are thriving. If you have not heard of a NON-QM mortgage loan, this blog is for you Gustan Cho Associates Mortgage Group offer a full slate of…
ByMike Gracz
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HUD Forbearance Guidelines On FHA Loans During COVID-19 allows homeowners to get delays in making their mortgage payments if they are affected by the coronavirus outbreak. The housing market is booming despite the coronavirus outbreak. There is no shortage of homebuyers during times of economic unrest and turmoil due to the COVID-19 outbreak and scare….
ByAlex Carlucci
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This Article Is About Unsecured Credit Card Approval With Bad Credit And Bankruptcy Unsecured Credit Card Approval is possible for consumers with prior bad credit. Unsecured Credit Card Approval is even possible for consumers after a bankruptcy discharge Credit card companies want to grant unsecured credit to consumers However, they want to make sure consumers…
ByGustan Cho
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This Article Is About Buying A House With Tenants Who Are Still Occupants Buying A House With Tenants Who Are Still Occupants happens if you are buying a home from a real estate investor. It is very common to have tenants on a home you are purchasing There can be benefits when buying a house…
ByAlex Carlucci
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BREAKING NEWS: Illinois Ranked As Highest-Taxed State In The Nation For Taxpayers Illinois Ranked As Highest-Taxed State In The Nation For Taxpayers and is expected to remain the ranking for many years. While other states are freezing and/or reducing taxes during the coronavirus pandemic, Illinois is doing the exact opposite What kind of idiot raises…
ByAlex Carlucci
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BREAKING NEWS: New Home Sales Surge In July Despite Coronavirus Outbreak New Home Sales Surge In July despite the coronavirus outbreak and high unemployment. Unemployment claims surpassed the $50 million mark Unemployment rates are still over 10% However, unemployment rates have been dropping month after month The Dow Jones Industrial Average hit an all-time record…
ByGustan Cho
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This article covers Lenders Increasing Credit Score Requirements Due To COVID-19 Most borrowers have noticed that Lenders Increasing Credit Score Requirements Due To COVID-19 Outbreak. Lenders across the board have raised their minimum credit score requirements on government and conventional loans due to the coronavirus pandemic The good news is that FHA, VA, USDA, Fannie…
ByGustan Cho
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This guide is an update of a previous article: This guide covers FHFA postpones adverse fee for mortgage refinance loans. FHFA Postpones Adverse Fee until later this year sends mortgage rates lower: Mortgage rates are at historic highs. The housing and mortgage market is in crisis like never in history with high inflation, record high…
ByMike Gracz
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This ARTICLE On VA Co-Signer Mortgage Guidelines On VA Home Loans Was PUBLISHED On August 25th, 2020 2020 UPDATED VA Co-Signer Mortgage Guidelines On VA Home Loans: If you follow Gustan Cho Associates, you know we are experts in VA mortgage financing We offer all of our VA mortgage products without LENDER OVERLAYS Even during…
ByAlex Carlucci
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BREAKING NEWS: Chicago Riots Causing Exodus Of Businesses And Taxpayers The recent Chicago Riots are causing countless businesses to call it quits in Chicago. Not only are businesses fleeing the city, but individual taxpayers had enough with Chicago Chicago, under the leadership of rookie freshman Mayor Lori Lightfoot, is deteriorating fast Chicago is the highest…
ByGustan Cho
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This article covers Freddie Mac Housing Event Guidelines On Conventional Loans Fannie Mae and Freddie Mac are the two mortgage giants known as Government Sponsored Enterprises (GSE). Fannie Mae and Freddie Mac are under the control and regulation of the Federal Housing Finance Agency (FHFA) Conventional Loans are referred to as Conforming Loans This is…
ByGustan Cho
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BREAKING NEWS: Housing Market Booming Despite Record High Unemployment Housing Market Booming despite record-high unemployment and the coronavirus outbreak. Never in history has the housing market been so hot despite economic uncertainty and a presidential election in just a few months. Over 50 million Americans have filed for unemployment due to the coronavirus outbreak. With…
ByGustan Cho
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This Article covers Conventional Loans With Derogatory Credit Mortgage Guidelines Many clients of Gustan Cho Associates are interested in a conventional mortgage. We offer a full slate of conventional mortgage products without any LENDER OVERLAYS We even participate in specialty loan programs offered by FREDDIE MAC and FANNIE MAE such as HOMESTYLE and HOMEONE It…
ByGustan Cho
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This ARTICLE On Buying A House During Recession And COVID-19 Pandemic The team at Gustan Cho Associates gets countless calls about Buying A House During Recession And COVID-19 Pandemic. Home values have been skyrocketing prior to the coronavirus pandemic for many years Many experts and economists predicted the housing market will undergo a market correction…
ByAlex Carlucci
Posted on
BREAKING NEWS: Lightfoot Increasing Taxes Despite Mass Exodus Of Chicagoans The news of Mayor Lori Lightfoot Increasing Taxes has not just skyrocketed individual taxpayers leaving Chicago, but a large percentage of small business owners are planning on leaving as well. Under the leadership of Mayor Lori Lightfoot, Chicago has deteriorated like never before Chicago murder…
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