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ByGustan Cho
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This Article Is About Borrowers Cost Out Of Pocket During The Mortgage Process There are two types of costs involved when buying a home: The down payment on the home purchase The closing costs on the home purchase transaction Down Payment And Closing Costs The down payment required depends on the type of mortgage program….
ByGustan Cho
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This ARTICLE On The Ultimate Guide To Houseplant Was PUBLISHED On May 24th, 2019 Whether you have the yard space or not, it’s nice to include plants inside your home. Indoor plants offer more than aesthetics to the space they’re in. Many indoor plants have major health benefits to consider. Maintaining healthy indoor plants can…
ByGustan Cho
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Understanding what your mortgage payment consists of is very important for homeowners. Most people do not pay in cash for their first home and get a mortgage loan. So it’s important to understand mortgage payment before buying a home. This article tells you what goes into a mortgage payment, how your mortgage payment reduces your…
ByGustan Cho
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This BLOG On Buying Home Cash And Refinancing Afterwards To Get Better Deal Was PUBLISHED On May 8th, 2019 It is no secret that home sellers tend to accept a cash offer by home buyers. Often times, sellers will give cash buyers a better deal than buyers with mortgage contingencies Home buyers with less and/or no…
ByGustan Cho
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This BLOG On Qualifying For Home Loan In Placer County California Was Written By Arlene DiSessa Of Gustan Cho Associates Mortgage News Why I Moved to Placer County: I previously lived in a small bedroom community in a rural underdeveloped area north of Sacramento. I can say we did not move there for the schools. They…
ByGustan Cho
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This BLOG On Delayed Financing Cash-Out Refinance Mortgage Guidelines Was UPDATED On May 5th, 2019 Home Buyers who purchase a home without financing and with cash and need to turn around to get a cash-out refinance mortgage, it is not as easy as they might think it is. Delayed Financing Cash-Out Refinance Mortgage Guidelines now applies. Prior…
ByGustan Cho
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This BLOG On How Credit Scores Impact DTI On FHA And Conventional Loans Was UPDATED On May 5th, 2019 A person’s credit score will determine whether or not the person can qualify for a certain mortgage loan program. For example, the minimum credit score needed to qualify for a conventional loan is 620 The minimum credit…
ByAlex Carlucci
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This BLOG On FHA Back To Work Versus NON-QM Mortgages And Pros And Cons Was UPDATED On May 5th, 2019 FHA Back to Work Extenuating Circumstances due to an Economic Event mortgage loan program was launched on August 15, 2013 and many home buyers with a prior bankruptcy, foreclosure, deed in lieu of foreclosure, and short…
ByGustan Cho
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5 Must Know Facts On How To Appraise Your House Was Written By Staff Writer at Gustan Cho Associates A house appraisal is very important when selling your home, buying a new home through a mortgage loan, or refinancing an existing mortgage. Whether you’re a homeowner, seller or buyer, you need to understand how the…
ByGustan Cho
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This BLOG On Fannie Mae NON-Citizens Mortgage Guidelines On Conventional Loans Was PUBLISHED On April 29th, 2019 Recently Fannie Mae added clarity to Fannie Mae NON-Citizens Mortgage Guidelines. Per Fannie Mae Guidelines on Conventional Loans, borrowers do not have to be U.S.Citizens to qualify for home loans Fannie Mae Guidelines, non-citizen home buyers can qualify for a home mortgage…
ByGustan Cho
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This BLOG On Purchase Offer Rejected By Sellers On Homes And Reasons Why Was UPDATED On April 29th, 2019 The housing market has recovered in the past two years and it seems like it will continue to recover. Real estate values have steadily been climbing in most parts of the country Homeowners who had underwater mortgages…
ByGustan Cho
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This BLOG On Conforming Versus Non-Conforming Mortgage Loan Programs Was UPDATED On April 27th, 2019 Home Buyers and homeowners have a variety of mortgage loan programs to choose. There are conforming versus non-conforming mortgage loan programs. Conforming Loans needs to conform to government and/or conventional mortgage guidelines. Depending on the borrowers credit profile and the type…
ByGustan Cho
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This BLOG On Benefits Of FHA Loans For First Time Home Buyers Was UPDATED On April 26th, 2019 By Gustan Cho There are many Benefits Of FHA Loans for first time home buyers. There are also Benefits Of FHA Loans for home buyers with prior bad credit, bankruptcy, foreclosure, deed in lieu of foreclosure, and short sale. FHA…
ByGustan Cho
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This BLOG On Mortgage Denied With Lender And Taking Next Steps To Get Approved Was UPDATED On April 25th, 2019 First time home buyer or seasoned home buyers need to choose a mortgage lender to qualify for home loans. Not all mortgage lenders have the same government and conventional loan requirements. All lenders need to meet…
ByGustan Cho
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This BLOG On Indiana Home Purchase Ranked Best Place To Live Was PUBLISHED On April 23rd, 2019 While tens of thousands of residents are moving out of Illinois, Indiana is flourishing. Indiana is the 17th most populous state in the United States. The state is the 38th largest state in the U.S. The state of Indiana…
ByGustan Cho
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This BLOG On Freddie Mac Cash-Out Refinance Guidelines On Conventional Loans Was PUBLISHED On April 22nd, 2019 Freddie Mac Cash-Out Refinance Guidelines allow a limited amount of cash to be taken out on a limited rate and term refinance on conventional loans. Per Freddie Mac Cash-Out Refinance Guidelines, borrowers can get up to 1.0% of the mortgage…
ByGustan Cho
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This BLOG On Recent Increase In Income And How It Is Viewed By Underwriters Was UPDATED On April 18th, 2019 Depending on mortgage underwriters, W-2 income is calculated in various ways. Mortgage lenders require two years of employment history This does not mean borrowers needs to have worked for two years at the same company Home…
ByGustan Cho
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This BLOG On Refinance Mortgage Guidelines For Mortgage Programs Was UPDATED On April 15th, 2019 Many homeowners do not realize that by doing a refinance mortgage loan can save them thousands of dollars over the life of their home loan. There are Refinance Mortgage Guidelines various different mortgage programs: There are many types of refinance mortgage programs…
ByGustan Cho
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This BLOG On What Does Sheriffs Sale Mean In Home Foreclosures Was UPDATED On April 3rd, 2019 A sheriffs sale is the final process of foreclosure proceedings via judicial foreclosure. There are many stages in the foreclosure process that a homeowner in default goes through before the sheriff’s sale When a borrower is in default of…
ByGustan Cho
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This BLOG On Housing Market Strong Due To Declining Mortgage Interest Rates Was PUBLISHED On March 25th, 2019 Many economists and housing experts are expecting Housing Market Strong in 2019 due to the FED announcing of an interest rate freeze for the remaining year. In 2018, mortgage rates shot up to an all-time high since the…
ByGustan Cho
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In this article, we will cover and discuss how the FED interest rate freeze affecting the booming housing market. The news of the FED Interest Rate Freeze on March 20th, 2109 surprised many. The FED Interest Rate Freeze comes weeks after the news of the FED Leaving Interest Rates Unchanged For the First Quarter of…
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