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ByGustan Cho
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97 LTV Conventional Versus FHA Loans: Which One Is Right for You? If you’re like most first-time homebuyers, one of the biggest hurdles standing between you and your dream home is the down payment. With everyday costs like housing, groceries, gas, and family responsibilities, saving up for a house can feel impossible. Thankfully, low-down-payment loan…
ByGustan Cho
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Guide to Freddie Mac Mortgage Guidelines for 2024: Your Path to Homeownership or Refinancing Are you ready to own a home or refinance your current mortgage but find all the mortgage terms confusing? Freddie Mac’s mortgage guidelines can be your solution! In this guide, we’ll break down everything you need to know about Freddie Mac’s…
ByAlex Carlucci
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Freddie Mac Home Possible Mortgage: Your Key to Low Down Payment Homeownership in 2024 Are you dreaming of owning a home but worried about the down payment? The Freddie Mac Home Possible mortgage program offers a smart solution. This loan option is ideal for low- to moderate-income buyers, enabling you to buy your own home…
ByMike Gracz
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Boarder Income Mortgage Guidelines for 2024: Boosting Your Income to Buy or Refinance a Home Are you wondering if the rent you collect from a roommate or boarder could help you qualify for a mortgage? With rising home prices, every bit of income can make a big difference. Let’s dive into how boarder income works…
ByGustan Cho
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Everything You Need to Know About Second Home Loans in 2024 Are you thinking of buying a second home? Maybe you want a cozy cabin by the lake, a beachside retreat, or a place closer to family. Second homes can be exciting investments and give you a getaway, but financing them differs slightly from getting…
ByGustan Cho
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Conforming Loan Requirements: 2024 Guide for Homebuyers and Refinancers If you’re thinking about buying a home or refinancing your current mortgage in 2024, it’s essential to understand conforming loan requirements. These loans enjoy popularity due to the criteria established by Fannie Mae and Freddie Mac, which generally makes them easier to qualify for and more…
ByAnngelli Abenes
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This guide covers all about Debt-To-Income Ratio for Conventional Loan: Your 2024 Guide to Homeownership with conventional loans: Are you wondering if you can qualify for a conventional loan to buy a home or refinance your current mortgage? Lenders take into account your debt-to-income ratio (DTI) as one of the crucial factors. This guide on…
ByAnngelli Abenes
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Struggling with student loan debt can often feel like attempting to run a marathon with a heavy backpack, particularly when you want to purchase your own home. Adding car payments on top of student loans makes your budget tight, and it all plays a big part in calculating your mortgage debt-to-income (DTI) ratio. This ratio…
ByAnngelli Abenes
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If you’re considering buying a house and need a loan, getting the lowdown on the main types of loans is super important. Let’s talk about the difference between conventional loans versus FHA loans. People in the United States consider these two main options when they need money to buy a home. Each type of loan…
ByAnngelli Abenes
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When it comes to getting home loans, buyers sometimes need extra support to qualify for their dream home. This is exactly when bringing in a non-occupying co-borrower can make a huge difference. If you’re stepping into the housing market for the first time, or even if you’re well-versed in real estate dealings, it’s crucial to…
ByDale Elenteny
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In this article, we will cover and discuss getting approved for a new home loan after having a prior mortgage included in Chapter 7 Bankruptcy. There are instances where people will include a home loan when they file for bankruptcy. There are waiting period requirements after a bankruptcy and foreclosure. However, what is the waiting…
ByAnngelli Abenes
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This Article Is About Freddie Mac No Credit Score Mortgage Guidelines Occasionally, borrowers may have to opt for conventional loans instead of FHA loans. For example, the Freddie Mac No Credit Score Mortgage among other conventional loans accepts Income-Based Repayment (IBR) plans for student loans. Nevertheless, IBR payments are not acceptable as per the FHA…
ByGustan Cho
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This article concerns securing a home loan with bad credit in Indiana with no overlays. Indiana home values are skyrocketing due to the booming housing market, which is experiencing strong demand from homebuyers and keeping builders busy. The demand for homes far exceeds the available inventory. Indiana boasts one of the highest population growth rates…
ByGustan Cho
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This guide covers FHA versus conventional mortgage rates on purchase and refinances transactions. One of the most common questions the team at Gustan Cho Associates is how are FHA versus Conventional mortgage rates. Not all borrowers get the same mortgage rates. Prime borrowers will get the best mortgage rates and terms. Prime borrowers have at…
ByGustan Cho
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This blog will cover and discuss HUD Cash-Out Mortgage Guidelines on FHA loans for 2024. Home values are rising across the country, and many homeowners who purchased their properties a few years ago are experiencing significant appreciation, with increases in home value by 20% to 30% or more. The conventional loan limits 2024 have been…
ByAnngelli Abenes
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There are certain debts that can be exempt from debt to income ratio calculations on conventional loans.
ByGustan Cho
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This guide compares FHA versus conforming mortgages, the two most popular mortgage loan programs for homebuyers in the United States. Which program should homebuyers choose? Both have pros and cons. Sometimes, borrowers may qualify for FHA loans instead of conforming mortgages. Conversely, some borrowers who qualify for conventional loans may not qualify for FHA loans….
ByGustan Cho
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This guide covers conventioal loan after short sale vs foreclosure guidelines. Since 2008, millions of Americans have witnessed their equity in their homes evaporate. The real estate and credit meltdown of 2008 has devastated many hard-working families. The Great Recession of 2008 was more of a depression than the Great Recession. Record bankruptcies, foreclosures, and…
ByGustan Cho
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This guide covers second home guidelines on non-QM and conventional loans. Second-home financing is different than investment properties. Homebuyers are eligible to finance second and investment homes with conventional loans. However, lenders consider investment homes higher risk than second home financing. Therefore, higher risk means higher rates and more down payment. This is why many…
ByAnngelli Abenes
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This guide explores the updated Freddie Mac part-time income mortgage guidelines for 2024. The new year has introduced significant changes in the mortgage industry. Freddie Mac has recently made a major announcement regarding its income calculation rules. This blog will outline the new guidelines, their effective date, and how they differ from previous rules. Additionally,…
ByAnngelli Abenes
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In this article, we’ll talk about reaffirming home loan after bankruptcy, a frequently inquired topic. Milwaukee-based Attorney James Miller of Miller and Miller LLC Attorney at Law is often consulted. It’s a common misconception among homeowners that filing for bankruptcy necessitates immediate eviction from their property. To clarify, here’s what James Miller outlines: Any non-exempt…
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