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ByGustan Cho
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This Article On Using IRS 4506T Form In Mortgage Loan Processing Mortgage lenders require income verification with not just the employer and with requiring income tax returns, but will also need to verify the income and tax returns with the Internal Revenue Service to make sure that the income tax returns are valid. The way…
ByGustan Cho
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This Article On What Are The Biggest Home Purchase Regrets And How To Avoid Them Buyers who decided purchase a home and got a solid pre-approval from a mortgage loan originator, next step is to start shopping for a home. Shopping for a new home is an exciting time Home buyers should do a lot…
ByGustan Cho
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This Article On Mortgage After Short Sale Guidelines For Home Purchase Previous homeowners who had a prior short sale can now qualify for a mortgage after a short sale as long as they have met the mandatory waiting period after a short sale. Many homeowners have requested a short sale from their current lender as…
ByGustan Cho
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This Article On How Underwriters View Credit History And Recent Late Payments Credit history and recent late payments are carefully reviewed by mortgage lenders during the mortgage application and mortgage approval process. A mortgage underwriter will look at the overall credit history of applicants Two things they will look for is whether the applicant has…
ByAlex Carlucci
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This Article Is On Lending Requirements For Mortgage After Short Sale In California The State of California has the nation’s highest home prices. California was one of the biggest hit states by the 2008 Real Estate and Mortgage Meltdown Many homeowners had home values drop 50% California is also the nation’s largest state A short…
ByGustan Cho
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This article is about Selling Your Home Prior To Foreclosure And Qualifying For New Mortgage Homeowners who get behind on their mortgage payments more than 4 months can have their mortgage lender start foreclosure proceedings against their homes. A foreclosure is when the mortgage lender starts legal proceedings to take over a homeowner’s home due…
ByGustan Cho
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This Article On VA Mortgage Guidelines For Same-Sex Married Couples Was Written By Gustan Cho of Gustan Cho Associates The U.S. Department of Housing and Urban Development (HUD) the parent of FHA, allows non-occupant co-borrowers to be added on FHA Home Loans. Fannie Mae and Freddie Mac permits non-occupant co-borrowers The U.S. Department of Veterans…
ByMike Gracz
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This article is about Benefits Of Using Non-QM Mortgages For Home Buyers Advantages And Benefits Of Using Non-QM Mortgages For Home Buyers: Preparing for a mortgage can be a difficult process in 2020 Since the real estate crash of 2008, the federal government has stepped in to oversee mortgage regulations The restrictions and guidelines have…
ByGustan Cho
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This Article On Mortgage Guidelines On Adding Co-Borrower To Qualify For Home Loan Adding co-borrower to qualify for home loan is done because the main borrower does not qualify with income. Adding co-borrower to qualify for home loan is normally done because of the borrower having higher debt to income ratios A spouse can be…
ByAlex Carlucci
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BREAKING NEWS: Progressive Tax Could Affect 47 Percent Of Illinois Business Owners Governor JB Pritzker’s Progressive Tax Could Affect 47 Percent Of Illinois Business Owners. Illinois is in a financial crisis like never before The U.S. economy was booming prior to the coronavirus pandemic Many states such as Florida, Texas, Georgia, Tennessee, and dozen of…
ByGustan Cho
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This Article On Location Is Key On Home Purchase On Home Values Location, Location, Location. I am sure most folks have heard of this saying. Property taxes in one city may be double or triple than in other cities. High property taxes on home purchases may affect buying power. Location is key on a home…
ByGustan Cho
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This Article On Difference Between Mortgage Rate And APR In Home Mortgages There is a Difference Between Mortgage Rate And APR. First of all, they are relatively similar. To explaining it simply, if the cost of the mortgage is high, the APR or Annual Percentage Rate will be higher. The CFPB has strict rules and…
ByGustan Cho
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This Article On Home Loan After Second Mortgage Charge Off Guidelines Mortgage loan borrowers can qualify for a home loan after second mortgage charge off with no waiting period after the charge off depending on the mortgage loan program. Homebuyers after second mortgage charge off is a commonly asked questions by many of our viewers…
ByGustan Cho
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This BLOG On How Difficult Is It To Qualify For FHA 203k Rehab Mortgage Was UPDATED And PUBLISHED On July 4th, 2020 The sea was rough that day my friend. Then George pulled the golf ball out of the whale’s blowhole, but where was Jerry Seinfeld? He was conveniently missing during all of this He…
ByGustan Cho
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This BLOG On Risks In Private Money Investing On Real Estate Transactions Was PUBLISHED On July 3rd, 2020 There are many rewards in investing in private money loans and hard money loans for an investor. Investing in hard money loans can offer extreme handsome returns that are secured by real estate Many private money investors…
ByAlex Carlucci
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BREAKING NEWS: June 2020 Jobs Numbers Show Promising Economic Recovery June 2020 Jobs Numbers came in at a whopping 4.8 million new jobs. The news sent stocks skyrocketing The Trump Administration did not waste any time announcing the great news However, Chuck Schumer, Nancy Pelosi, and other democrats pouted that the economy is still in…
ByGustan Cho
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This BLOG On What Are The Foreclosure Procedures And Process Was UPDATED And PUBLISHED On July 2nd, 2020 The government’s position with lending, traditionally, is they are set to ensure there is a warehouse for lending on the secondary, and that there are programs available for low to moderate-income families, as well as low to…
ByGustan Cho
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This BLOG On Qualifying For Conventional Loan With Bad Credit And Low Credit Scores Was UPDATED And PUBLISHED On July 1st, 2020 Conventional Loans are called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac mortgage lending guidelines. Fannie Mae and Freddie Mac have their mortgage guidelines on conventional loans Borrowers…
ByMike Gracz
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This BLOG On Mortgage Rates On FHA 203k Loans Versus Traditional Mortgages Was PUBLISHED On July 1st, 2020 FHA 203k Loans is an acquisition and construction/renovation loan all combined in one loan. This type of loan is where a home buyer can purchase a fixer-upper or uninhabitable home that is in need of rehab with…
ByGustan Cho
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BREAKING NEWS: Mortgage Forbearance On The Rise Due To Covid-19 Spike After a few weeks of declining numbers, Mortgage Forbearance On The Rise due to the recent outbreak of the coronavirus. Dozens of states have reopened since late April after being shut down for over two months Worker’s high confidence levels triggered many workers not…
ByGustan Cho
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This BLOG On Mortgage Lending Requirements On Government And Conforming Loans Was UPDATED And PUBLISHED On June 29th, 2020 Mortgage Lending Requirements is what lenders follow to see if a mortgage loan applicant qualifies for a residential mortgage loan. There are two types of lending guidelines There are mortgage lending requirements that are set by…
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