Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByGustan Cho
Posted on
This BLOG On FHA Insured Mortgage Loans Versus Other Loan Programs Was UPDATED And PUBLISHED On January 10th, 2019 FHA Insured Mortgage Loans are government residential home loans that are originated and funded by private mortgage lenders. However, FHA Insured Mortgage Loans are insured by the Federal Housing Administration against borrower default and foreclosure HUD,…
ByGustan Cho
Posted on
This BLOG On Primary Home Status When Qualifying For Mortgage Was UPDATED On January 8th, 2019 When a mortgage loan borrower applies for a residential mortgage home, there are three statuses. Primary home Second-home Investment home All government loan programs are for primary home status only. Second homes and investment home loans do not qualify for…
ByGustan Cho
Posted on
This BLOG On Factors Influencing Credit Scores When Applying For Mortgage Was UPDATED On January 8th, 2019 There are five Factors Influencing Credit Scores: Payment history Credit balances outstanding Credit history longevity Types of credit types Credit Inquiries In this article, we will cover and discuss the Factors Influencing Credit Scores when applying for a mortgage. How…
ByGustan Cho
Posted on
This BLOG On Mortgage Lender Overlays On FHA And VA Loans Was UPDATED On January 8th, 2019 Mortgage Lender Overlays are mortgage lending guidelines that are above and beyond those mandated by mortgage loan programs. There are two types of mortgage lending guidelines: Mortgage Loan Program Guidelines Mortgage Lender Overlays All banks and mortgage companies need…
ByGustan Cho
Posted on
This ARTICLE On Top Cities in The United States To Invest In For Investors Was Written By Staff Writer at Gustan Cho Associates Mortgage Group It is no secret that the economy is not what it used to be. Things have become more expensive, salaries are pretty much the same, and you just get the…
ByGustan Cho
Posted on
This BLOG On Importance Of Credit Reports In Mortgage Application Process Was UPDATED On January 6th, 2019 Our society is credit driven. Almost every aspect in the financial world is based on a borrower’s credit score and credit report, especially in mortgage lending Credit and income are the two most important factors to a lender However,…
ByGustan Cho
Posted on
This BLOG On Conforming Versus FHA Mortgage Guidelines And Benefits Was PUBLISHED On January 5th, 2019 Higher loan conventional loan limit of $484,350 Conventional Loans does not count non-borrowing spouse’s debt in community property states FHA Loans does include non-borrowing spouses debts in community property states Conventional Loans allows Income Based Repayment FHA Loans does…
ByGustan Cho
Posted on
This BLOG On Are Mortgage Rates Heading Higher With Dow Soaring Was PUBLISHED On January 4th, 2019 The economy is hot. So is the housing markets. Both HUD and FHFA has increased loan limits for three years in a row due to rising housing prices. Mortgage Rates Heading Higher with Dow Soaring has not put…
ByGustan Cho
Posted on
This BLOG On Foreclosure In Mortgage Qualification Lending Guidelines Was UPDATED On January 4th, 2019 Foreclosure In Mortgage Qualification There are mandatory waiting periods after foreclosure in mortgage qualification process on government and conventional loans. Government Loans are home loans that are guaranteed and insured by the federal government. There are three different types of government…
ByGustan Cho
Posted on
This BLOG On How Do I Qualify For A Conventional Loan Mortgage Was UPDATED On January 4th, 2019 A conventional loan is a residential mortgage loan that conforms to Fannie Mae and Freddie Mac mortgage lending standards and guidelines. Fannie Mae stands for the Federal National Mortgage Association and Freddie Mac stands for the Federal Home Loan…
ByGustan Cho
Posted on
This BLOG On Qualifying Mortgage Borrowers And Co-Borrowers For Loan Approval Was UPDATED On January 4th, 2019 All mortgage lenders qualify mortgage borrowers and co-borrowers in similar ways: All Mortgage Borrowers and Co-Borrowers need to have a valid social security number Two years of employment history: Gaps in employment is allowed Two years of residential history…
ByGustan Cho
Posted on
The FHA Back to Work Extenuating Circumstances Mortgage has been discontinued. Back to Work Extenuating Circumstances Mortgage Loan Program was created and implemented temporarily to help mortgage borrowers who have been involuntarily terminated from their employment due to the Great Recession. FHA Back To Work Extenuating Circumstances Mortgage Loan Program: DISCONTINUED HUD just launched the Back…
ByGustan Cho
Posted on
This BLOG On What Are Mortgage Lender Overlays On Home Loans Was UPDATED And PUBLISHED On January 1st, 2019 The arena for government home loan programs such as found with Department of Veterans Affairs, USDA, and the Federal Housing Administration place minimum lender criteria on those seeking home loans to purchase or refinancing their home….
ByAlex Carlucci
Posted on
This BLOG On Mortgage Rates Rise For 7 Continuous Weeks With No Sign Of Drop Was UPDATED On December 30th, 2018 Mortgage rates rise again for 7 consecutive weeks and there is no sign of turning backs. Mortgage rates hit record lows in April and it started to take off. Common sense dictates if mortgage rates…
ByAlex Carlucci
Posted on
This BLOG On Michigan Realtor Juanita Hawkins Was UPDATED On December 24th, 2018 A Condotel, also known as a Condo Hotel, is a condominium unit in a hotel where it is individually owned. The Condo Hotel management staff takes care of all the management and maintenance Tasks and duties such as daily rentals, bookkeeping, room…
ByGustan Cho
Posted on
This BLOG On Funds Required For First Time Home Buyer On Home Purchase Was UPDATED On December 17th, 2018 Are you a first time home buyer? Potential homebuyers who are currently renting and living paycheck to paycheck often think that becoming a homeowner is a dream Many believe that they do not qualify for a mortgage…
ByGustan Cho
Posted on
This article is about Mortgage Rate Adjustments The lower your credit scores are the higher your mortgage rates will be. Rate adjustments also called Loan Level Pricing Adjustments are pricing adjustments either added to the rate or discounted to mortgage rates For conventional loans, there are credit score tiers starting at the following levels: 620…
ByGustan Cho
Posted on
This ARTICLE On Reasons To Use NYC Movers To Get a New Home In New York Was Written By Staff Writer at Gustan Cho Associates There’s no other city with a vitality that can rival New York. The quick pace, the humming traffic, the buzzing about the general population, the 24-hour life, and the inventive…
ByAlex Carlucci
Posted on
This article is about How To Get Lowest Mortgage Rates On Home Loans And What Are LLPA INTRODUCTION OF HOW TO GET LOWEST MORTGAGE RATES HOME LOANS Mortgage loan officers who have been in the business for several years will tell you the number one question they hear is, “What are your rates today?” And…
ByGustan Cho
Posted on
This ARTICLE On Steps In Getting Mortgage Approval With Bad Credit Illinois Was UPDATED On December 11th, 2018 There are Steps In Getting Mortgage Approval. It starts with consulting with a loan officer Mortgage Loan Applicants first few Steps In Getting Mortgage Approval starts with consulting with a loan officer Borrowers need to complete a 4-page…
ByGustan Cho
Posted on
This BLOG On Short Sale Versus Foreclosure Mortgage Guidelines Was UPDATED On December 10th, 2018 Are There Benefits Of Short Sale Over Foreclosure? There are benefits of a short sale instead of a foreclosure if home buyers are planning on buying a new home with Conventional Loans. Waiting Periods to qualify on Conventional Loans after a…
CALL NOW