Debt Settlement Versus Bankruptcy Mortgage Guidelines
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Debt Settlement Versus Bankruptcy Mortgage Guidelines

ByGustan Cho Posted on

Debt Settlement Versus Bankruptcy: A Guide for Mortgage Borrowers in 2024 If you’re juggling debt and trying to figure out your next step, the decision between debt settlement versus bankruptcy can feel overwhelming. Both options can help you take control of your financial future, but they also have long-term effects on your credit, financial stability,…

Home Purchase With Bad Credit
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Home Purchase With Bad Credit With Lender With No Overlays

ByGustan Cho Posted on

Homebuyers do not need great credit and high credit scores to qualify for a mortgage. You can have outstanding collections and charged-off accounts and qualify for a mortgage as long

97 LTV Conventional Versus FHA Loans
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Comparison of 97 LTV Conventional Versus FHA Loans

ByGustan Cho Posted on

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…

How to Prepare Credit for Mortgage
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How To Prepare Credit For Mortgage and Get Approved

ByGustan Cho Posted on

How Do I Know If I Qualify For A Mortgage? All loan programs have different lending guidelines. However, you normally need timely payments in the past twelve months and need qualified income and have the ability to repay your new mortgage.

7 VA Loan Myths Veterans Need To Know
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7 VA Loan Myths Veterans Need To Know

ByAlex Carlucci Posted on

7 VA Loan Myths Veterans Need to Know in 2024 For veterans or active-duty service members, the VA loan benefit is one of the most valuable home-purchasing resources. However, misconceptions often lead veterans to miss out on these great benefits or face unnecessary hurdles. This guide covers the 7 VA loan myths veterans need to…

VA Loans With High Debt-To-Income Ratio
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VA Loans With High Debt-To-Income Ratio Mortgage Guidelines

ByGustan Cho Posted on

VA Loans with High Debt-to-Income Ratio: A 2024 Guide for Veterans Are you a Veteran worried about your high debt-to-income ratio holding you back from a VA loan? Here’s the good news: VA loans offer some of the most flexible options, even if your debt-to-income ratio (DTI) is on the high side. In this guide,…

Freddie Mac Mortgage Guidelines
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Freddie Mac Mortgage Guidelines on Conventional Loans

ByGustan Cho Posted on

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…

Difference Between Fannie Mae and Freddie Mac

Difference Between Fannie Mae And Freddie Mac

ByGustan Cho Posted on

Fannie Mae and Freddie Mac Explained: What’s the Difference? If you’re considering purchasing or refinancing a home, you’ve likely heard of Fannie Mae and Freddie Mac—two major names in the mortgage industry. But what exactly do they do, and how do they differ? Here, we’ll break down the essentials to help you understand the difference…

USDA One Credit Mortgage
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Get 100% Financing with a USDA One Credit Score Mortgage

ByGustan Cho Posted on

USDA One Credit Score Mortgage: What You Need to Know to Qualify in 2024 If you’ve been told you can’t qualify for a USDA loan because you only have one credit score, you’re not alone. Many potential homebuyers are turned away by lenders requiring three credit scores, but that’s not the full story. At Gustan…

Low Credit Score Pricing Adjustments
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Low Credit Score Pricing Adjustments on Mortgage Loans

ByGustan Cho Posted on

2024 Guide to Low Credit Score Pricing Adjustments: Understanding Your Options to Save on Your Mortgage Ready to buy or refinance but worried about how your credit score affects your mortgage rate? Don’t stress—understanding low credit score pricing adjustments can help you save on your mortgage. Let’s break down how these adjustments work, what they…

Cash To Close And Seasoned Funds For Closing
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Cash To Close and Seasoned Funds For Closing by Borrower

ByGustan Cho Posted on

Cash to Close and Seasoned Funds for Closing: Your 2024 Guide to a Smooth Home Purchase When you’re ready to buy a home, two terms you’ll hear often are cash to close and seasoned funds for closing. These are important steps in the mortgage process, and understanding them will make your journey to homeownership a…

FHA Loans Chicago
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FHA Loans Chicago With No Overlays on Government Loans

ByAnngelli Abenes Posted on

FHA Loans Chicago: Your 2024 Guide to Affordable Homeownership Buying a home in Chicago can be daunting, especially with rising property values and high living costs. However, FHA loans have made homeownership more accessible and affordable for thousands of Chicago residents. Whether you’re a first-time buyer or simply looking for a better way to finance…

Updated FHA Loan Requirements
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Updated FHA Loan Requirements on HUD Guidelines

ByGustan Cho Posted on

Updated FHA Loan Requirements for 2024: What You Need to Know Are you considering an FHA loan to buy a home? FHA loans are popular because they’re one of the easiest types of mortgages to qualify for, especially if you’re a first-time buyer or have had credit issues. In this guide, we’ll review everything you…

How Underwriters Calculate Debt-To-Income Ratio
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How Underwriters Calculate Debt-To-Income Ratio

ByGustan Cho Posted on

How Underwriters Calculate Debt-to-Income Ratio (DTI) – 2024 Guide When it comes to buying a home, there are a few numbers that can make or break your mortgage application. One of the biggest? Your debt-to-income ratio (DTI). Understanding how underwriters calculate DTI can help you better prepare for mortgage approval, increase your chances of getting…

Understanding Discount Points
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Understanding Discount Points Buying Down Mortgage Rates

ByAnngelli Abenes Posted on

Understanding Discount Points: Your Key to Big Savings on Your Mortgage When exploring your mortgage options, “discount points” often pop up. What are they? Simply put, discount points are a way to pay down your mortgage rate, potentially saving you thousands of dollars over the life of your loan. This detailed guide will thoroughly explore…

Does Co-Signing Affect in Buying Home
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Does Co-Signing Affect In Buying Home In The Future

ByGustan Cho Posted on

Does Co-Signing Affect in Buying Home? Understanding How Co-Signing a Loan Affects Your Future Home Purchase Have you ever considered co-signing a loan for a loved one? It might seem like a helpful way to support a family member or friend, but you might wonder, does co-signing affect in buying a home in the future?…

Verification of Employment
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Verification Of Employment Before Mortgage Closing

ByGustan Cho Posted on

Verification of Employment (VOE): Why It’s Crucial for Securing Your Mortgage in 2024 Whether you’re ready to purchase your first home or refinance an existing mortgage, understanding the importance of Verification of Employment (VOE) is essential. In the mortgage world, lenders need to know you have a stable income and can keep up with monthly…

Mortgage Forbearance During Pandemic
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Mortgage Forbearance During Pandemic Mortgage Crisis

ByGustan Cho Posted on

Updated Guide: Mortgage Forbearance During Pandemic When the COVID-19 pandemic hit, it upended the global economy, leaving millions of Americans in financial turmoil. Among those most affected were homeowners who faced sudden job losses and financial hardships, making it difficult to keep up with mortgage payments. The U.S. government and mortgage lenders introduced mortgage forbearance…

Freddie Mac Home Possible
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Freddie Mac Home Possible Mortgage Guidelines

ByAlex Carlucci Posted on

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…

Clear to Close in 2 Weeks or Less
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Clear To Close In 2 Weeks or Less Mortgage Process

ByGustan Cho Posted on

Clear to Close in 2 Weeks or Less: Here’s How to Fast-Track Your Mortgage Approval At Gustan Cho Associates, we know time is precious—especially in home-buying! One of the most common questions is whether a mortgage loan can be approved and closed in two weeks or less. The good news? It’s possible with the right…