FHA Versus Conventional Mortgage After Bankruptcy
| | | | |

FHA Versus Conventional Mortgage After Bankruptcy

ByEric Jeanette Posted on

This  guide cover FHA versus conventional mortgage after bankruptcy. There are differences in  when and how you can qualify for FHA versus conventional mortgage after bankruptcy. You can qualify earlier on FHA loans because the waiting period requirements on FHA versus Conventional mortgage after bankruptcy is shorter. The waiting period on FHA versus Conventional mortgage…

HomeReady Versus Home Possible
| | | |

HomeReady Versus Home Possible Mortgage Guidelines

ByAlex Carlucci Posted on

This article covers HomeReady versus Home Possible mortgage guidelines. Many homebuyers contact us at Gustan Cho Associates and want to know the difference between HomeReady versus Home Possible. HomeReady conventional loans are offered by Fannie Mae. Freddie Mac offers Home Possible conventional loans. There is no major difference between Fannie Mae’s HomeReady and Home Possible….

Preparing To Qualify For Conventional Loans
| | |

Preparing To Qualify For Conventional Loans

ByGustan Cho Posted on

This guide covers preparing to qualify for conventional loans versus other mortgage loan programs. Preparing to qualify for conventional loans is often required for some mortgage borrowers who cannot go with an FHA loan. Every home mortgage program has its own mortgage lending guidelines. There are instances where borrowers cannot take out an FHA loan….

80-10-10 Mortgage Loans
| | | |

Buying Home With No PMI With 80-10-10 Mortgage Loans

ByPeter Arcuri Posted on

This guide covers buying home with no private mortgage insurance with 80-10-10 mortgage loans. Any conventional mortgage loan with less than 20% down payment, or equity in the home, requires mandatory private mortgage insurance. Homebuyers who have at least a 10% down payment towards a home purchase and want to eliminate paying for private mortgage…

Waiting Period After Mortgage Part Of Bankruptcy Guidelines
| |

Waiting Period After Mortgage Part of Bankruptcy Guidelines

ByAlex Carlucci Posted on

This guide covers the Fannie Mae guidelines on conventional loans with a waiting period after mortgage part of bankruptcy. Many of our borrowers are folks with prior bankruptcy, foreclosure, short sale, or deed-in-lieu of foreclosure. Borrowers can qualify for a home loan after bankruptcy and foreclosure. This holds true as long as they meet the…

Fannie Mae HomeStyle Mortgage
| | |

Fannie Mae HomeStyle Mortgage Guidelines

ByGustan Cho Posted on

This guide covers  Fannie Mae HomeStyle Mortgage Guidelines on conventional loans. Have you thought about adding a pool to your property? Or how about redoing your kitchen or bathrooms? How about remodeling your outdated home and modernizing it without moving to a new home. John Strange, a senior loan officer at Gustan Cho Associates explains…

Conforming Underwriting Guidelines On Conventional Loans
| |

Conforming Underwriting Guidelines on Conventional Loans

ByGustan Cho Posted on

This guide covers conforming underwriting guidelines on conventional loans. Conventional Loans are called conforming loans because they need to conform to Fannie Mae and Freddie Mac Mortgage Guidelines. Conventional loans are not government-backed loans. No government entity insures and guarantees conforming loans. Dale Elenteny of Gustan Cho Associates explains why conventional loans are called conforming…

FNMA Guidelines
| |

FHFA FNMA Guidelines UPDATE on Conventional Loans

ByGustan Cho Posted on

This guide covers the FHFA FNMA Guidelines updates on Conventional loans. There are FNMA guidelines changes for mortgage loan borrowers on Conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants in the United States that set mortgage requirements for Conventional loans.  To qualify, conventional mortgage borrowers must meet the minimum Fannie Mae…

What is Lender-Paid Mortgage Insurance
| |

What Is Lender-Paid Mortgage Insurance on Conventional Loans

ByGustan Cho Posted on

In this guide, we will cover what is lender-paid mortgage insurance on conventional loans. Lender-paid mortgage insurance is also referred to as LPMI. Lender-paid mortgage insurance applies to Conventional loans only. Private Mortgage Insurance is required for all Conventional loans with less than a 20% down payment. This blog will cover the answer to what is…

Oceanfront Homes in Puerto Rico
| | | | | |

Investing in Oceanfront Homes in Puerto Rico

BySarah Wu Posted on

In this guide, we will cover oceanfront homes in Puerto Rico. Imagine waking up to the gentle sound of waves crashing against the shore, feeling the ocean breeze on your skin, and witnessing panoramic views of the sparkling blue waters daily. This is the allure of oceanfront homes in Puerto Rico, where owning a dream…

Mortgage Lenders For The Best Rates
| | | | |

How to Find Mortgage Lenders For The Best Rates

ByJoe Betro Posted on

This guide will cover finding the best mortgage lenders for the best rates. Buying a home is a significant milestone, a dream-come-true to many. However, this process can be overwhelming! Not all mortgage lenders have the same mortgage rates. There are mortgage lenders for the best rates. We will show you how to shop for…

FHA Versus Conforming Loans Mortgage Lending Guidelines
| | |

FHA Versus Conforming Loans Mortgage Lending Guidelines

ByGustan Cho Posted on

This guide will cover the difference between FHA versus conforming loans. We will discuss FHA versus conforming loans mortgage lending guidelines and the benefits of each home loan program. There are three different types of government loans: FHA loans, and VA loans. USDA loans.  Conventional loans benefit over FHA loans on waiting period requirements on…

Conventional Loan Guidelines

Conventional Loan Guidelines For Mortgage Borrowers

ByGustan Cho Posted on

This article will cover the conventional loan guidelines for mortgage borrowers on primary, second, and investment homes. Borrowers needing Conventional loans must meet the minimum 2023 Conventional loan guidelines. Conventional loans are called Conforming loans because they must conform to Fannie Mae and Freddie Mac mortgage guidelines. There is no private mortgage insurance on conventional…

Fannie Mae Guidelines On Conforming Loans After Housing Event
|

FNMA Waiting Period Guidelines After Foreclosure For 2022

ByGustan Cho Posted on

In this blog, we will cover and discuss  FNMA waiting period guidelines after foreclosure for 2022. Conventional loans are often referred to as conforming loans because they need to conform to Freddie Mac and/or Fannie Mae guidelines. If lenders do not make sure conventional loans they originate and fund do not conform to FNMA or…

Rental Payments Reported on Credit Bureaus

Rental Payments Reported on Credit Bureaus

ByMike Gracz Posted on

Many Americans are familiar with the terms Fannie Mae and Freddie Mac, but may not know exactly what they represent. Many believe Fannie Mae and Freddie Mac are branches of the federal government. The role of Fannie Mae and Freddie Mac is to guarantee conventional mortgage loans. After the real estate crash of 2008, the…

What Are Conventional Loans

What Are Conventional Loans and Conforming Mortgages

ByMike Gracz Posted on

In this blog, we will cover and discuss what are conventional loans or conforming mortgages and their benefits. Many home buyers often are not familiar with the various different mortgage options they have to choose from. However, which mortgage option is the best for them? One of the most common frequently asked questions we get…

Conventional Loans With No Lender Overlays Illinois

Conventional Loans With No Lender Overlays Illinois

ByGustan Cho Posted on

In this blog, we will discuss and cover qualifying for conventional loans with no lender overlays in Illinois. Gustan Cho Associates Mortgage Group has no overlays on government and conventional loans. All of our government and conventional loan programs have no mortgage lender overlays. As long as mortgage borrowers get an approve/eligible per DU Findings…

Freddie Mac GreenChoice Conventional Mortgage Loan Program

Freddie Mac GreenChoice Conventional Mortgage Loan Program

ByMike Gracz Posted on

The major mortgage agencies like HUD, the parent of the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac look at thousands of data points to create new loan programs available to homebuyers (and current owners looking for a refinance transaction). One of the main data points they have looked at lately is, who are…

Fannie Mae Guidelines 2018 On Foreclosures
|

Fannie Mae Guidelines On Mortgage After Foreclosure

ByAlex Carlucci Posted on

In this blog, we will discuss and cover Fannie Mae Guidelines on mortgage after foreclosure on conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants that set conventional mortgage requirements. Conventional Loans are also called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Guidelines. Government Loans are…