Mortgage Guidelines on Home Loans
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Mortgage Guidelines on Home Loans

ByDale Elenteny Posted on

This guide covers changes in mortgage guidelines on home loans and year-end recap. 2023 was a tough year for the mortgage industry and Gustan Cho Associates. It was a year filled with ups and downs in the housing and mortgage markets. In this guide, we will detail changes in the housing, mortgage, and financial markets….

Sacramento California Home Purchase With Bad Credit And Low Scores
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Sacramento California Home Purchase With Bad Credit

ByAlex Carlucci Posted on

This guide covers Sacramento California home purchase with bad credit and credit scores down to 500 FICO. Sacramento is the capital of California and is located in the northern-most point of California’s Central Valley.  Being the sixth-largest city in California, and home to the Sacramento Kings and the Sacramento River Cats, Sacramento is a very…

High-Balance Mortgage Loans
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FHA and Conforming High-Balance Mortgage Loans

ByAnngelli Abenes Posted on

Traversing the landscape of mortgage loans can be an intricate voyage, presenting many options tailored to meet diverse financial requirements. Two common choices for homebuyers seeking financing are FHA (Federal Housing Administration) loans and Conforming High-Balance Mortgage Loans. Throughout this blog, we will dig deep into the features, advantages, and factors to consider for each…

What Is PMI
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What Is PMI on Conventional Loans

ByAlex Carlucci Posted on

This guide covers what is PMI on conventional loans. What Is PMI? One of the most common questions I often get asked by my borrowers is what is PMI or private mortgage insurance. There are two types of mortgage insurance: Mortgage insurance premium and private mortgage insurance (PMI). Mortgage Insurance Premium is for FHA Loans….

Freddie Mac HomeOne Conventional Loan Guidelines On Purchases
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Freddie Mac HomeOne Mortgage Loan Program

ByAlex Carlucci Posted on

In this blog, we will cover the Freddie Mac HomeOne Mortgage Loan Program. Fannie Mae and Freddie Mac are the two government-sponsored enterprises (GSE). Freddie Mac and Fannie Mac sets the guidelines and lending requirements for conventional loans. The role of Fannie Mae and Freddie Mac is to provide market stability and liquidity by purchasing…

Fannie Mae Bankruptcy Guidelines
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Fannie Mae Bankruptcy Guidelines on Conventional Loans

ByRonda Butts Posted on

As per the Fannie Mae Bankruptcy Guidelines for conventional loans, borrowers must follow a mandatory waiting period after filing for Chapter 7 or Chapter 13 bankruptcy before being considered eligible for a conventional loan. While it is possible for mortgage borrowers to obtain a loan post-bankruptcy, they must first satisfy the required waiting period to…

Refinancing NON-QM Loans to Traditional Mortgages
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Refinancing NON-QM Loans To Traditional Mortgages

ByGustan Cho Posted on

In this blog, we will discuss and cover refinancing non-QM loans to government and conventional mortgages. Refinancing NON-QM loans to government or conventional loans is possible after the initial home mortgage closing. This only holds true if the deal makes sense. Homebuyers who initially closed on their home loan with a non-QM loan at a…

Qualifying For Conventional Loan After Foreclosure
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Qualifying For Conventional Loan After Foreclosure

ByRonda Butts Posted on

Qualifying for a conventional loan after foreclosure presents more challenges than government loans. However, homebuyers can qualify for a conventional loan after experiencing foreclosure and bankruptcy. There are specific waiting period requirements that must be met. To qualify for a conventional loan post-foreclosure, borrowers must have a minimum credit score 620. Additionally, debt-to-income ratios can…

How Do I Qualify For a Mortgage Loan
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How Do I Qualify For a Mortgage and Get Approved

ByGustan Cho Posted on

This guide covers the frequently asked question how do I qualify for a mortgage loan and get approved. Mortgage lenders do not just lend a home loan to anyone. Lenders need to make sure borrowers qualify not just in making their making their new mortgage payments but borrowers need to qualify and meet minimum mortgage…

Fannie Mae Guidelines On Timeshare Foreclosure
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Fannie Mae Guidelines On Timeshare Foreclosure On Conventional Loans

ByGustan Cho Posted on

This Article Is About Fannie Mae Guidelines On Timeshare Foreclosure On Conventional Loans. What are Fannie Mae guidelines regarding timeshare foreclosure on conventional loans? Timeshares experienced popularity before the 2008 financial crisis, but many owners faced financial difficulties and could not maintain their obligations. Attempts to sell timeshares often diminished values, leading some owners to…

High-Cosr
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High-Cost Guidelines On Government And Conventional Loans

ByAlex Carlucci Posted on

In this blog, we will discuss and cover high-cost guidelines on government and conventional loans. Some states have high-cost rules. What is high-cost? High-cost is that the total fees and costs in obtaining a residential mortgage loan cannot exceed 5% of the mortgage loan amount. Fees that are calculated in high cost include upfront mortgage…

Gustan Cho Associates Has Special Tricks On Ways Of Boosting Credit Before Applying For Mortgage
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Ways of Boosting Credit Before Applying For Mortgage

ByGustan Cho Posted on

Gustan Cho Associates Has Special Tricks On Ways Of Boosting Credit Before Applying For Mortgage. Do not hire any credit repair companies if you are planning on applying for a mortgage. Credit repair does more harm than good during the mortgage process. You cannot have credit disputes during the mortgage process.

Freddie Mac Bankruptcy Guidelines On Conventional Loans
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Freddie Mac Bankruptcy Guidelines On Conventional Loans

ByGustan Cho Posted on

In this blog, we will discuss and cover Freddie Mac bankruptcy guidelines on conventional loans. Mortgage borrowers can qualify for government and conventional loans after bankruptcy. However, government and conventional loans require a waiting period after bankruptcy. The waiting period requirements depend on the individual mortgage program. Gustan Cho Associates offer non-QM mortgages one day…

Conventional Loan Collection Accounts Guidelines
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Conventional Loan Collection Accounts Guidelines

ByGustan Cho Posted on

In this article, we will cover and discuss conventional loan collection accounts guidelines. Conventional Loan Collection Accounts Guidelines for 2023 are implemented and set by Fannie Mae and Freddie Mac. FHA, part of the United States Department of Housing and Urban Development, commonly referred to as HUD, set the mortgage lending guidelines for FHA loans….

Refinancing Land Contract Homes
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Refinancing Land Contract Homes To Government Or Conventional Loans

ByMike Gracz Posted on

In this article, we will discuss and cover refinancing land contract homes to government or conventional loans. There are factors to address when refinancing land contract homes to government and conventional loans. In today’s crazy mortgage market, more and more Americans are purchasing homes with a land contract. This is an alternative to traditional mortgage…

Do I Have To Pay Collections For FHA Loan
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Do I Have To Pay Collections For FHA Loan Approval

ByGustan Cho Posted on

This guide covers the frequently asked question do I have to pay collections for FHA loan approval. We will discuss the topic of do I have to pay collections for FHA loan approval. A large percentage of our borrowers are folks who were turned down by other mortgage companies because they had outstanding collection accounts…

97 LTV Conventional Loan
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Fannie Mae 97 LTV Conventional Loan Mortgage Guidelines

ByGustan Cho Posted on

This guide covers the 97 LTV conventional loan mortgage guidelines for first-time homebuyers. Fannie Mae and Freddie Mac 97 LTV conventional loan program is back: Fannie Mae and Freddie Mac have just released news that they will bring the 97 LTV conventional loan program back. The 97 LTV conventional loan program enables qualified home buyers…

High-Balance Conforming Loans For High-Cost Homebuyers
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High-Balance Conforming Loans in High-Cost Areas

ByGustan Cho Posted on

In this blog, we will cover and discuss high-balance conforming loans for high-cost homebuyers. There are certain areas throughout the United States where it is considered high-cost areas. In high-cost areas, loan limits are higher than the traditional loan limits. The Federal Housing Finance Agency (FHFA) has increased the conventional loan limit to $766,550 for…