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ByMike Gracz
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In this blog, we will cover and discuss Fannie Mae Conventional loan limits on one to four-unit properties. The FHFA increased conventional loan limits for six years in a row due to increasing home prices so homebuyers are not priced out of the housing market. As we approach the end of the year, the Federal…
ByGustan Cho
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What Are The Waiting Period Requirements On Conventional Versus FHA Loans On Chapter 13 Bankruptcy? There is no waiting period requirements after Chapter 13 Bankruptcy discharged date on FHA loans but Conventional loans require a two-year waiting period.
ByGustan Cho
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This Article Is About Myths And Truths About Conventional Loans Versus FHA Mortgages What do you believe is the most pervasive myth about conventional mortgage financing? When people think of conventional loans, they think they need a 20% down payment and great credit. This is not true. Conventional loans are not backed by any government…
ByGustan Cho
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This article covers Freddie Mac Housing Event Guidelines On Conventional Loans Fannie Mae and Freddie Mac are the two mortgage giants known as Government Sponsored Enterprises (GSE). Fannie Mae and Freddie Mac are under the control and regulation of the Federal Housing Finance Agency (FHFA) Conventional Loans are referred to as Conforming Loans This is…
ByGustan Cho
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This Article covers Conventional Loans With Derogatory Credit Mortgage Guidelines Many clients of Gustan Cho Associates are interested in a conventional mortgage. We offer a full slate of conventional mortgage products without any LENDER OVERLAYS We even participate in specialty loan programs offered by FREDDIE MAC and FANNIE MAE such as HOMESTYLE and HOMEONE It…
ByGustan Cho
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This BLOG On Qualifying For Conventional Loan With Bad Credit And Low Credit Scores Was UPDATED And PUBLISHED On July 1st, 2020 Conventional Loans are called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac mortgage lending guidelines. Fannie Mae and Freddie Mac have their mortgage guidelines on conventional loans Borrowers…
ByGustan Cho
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This BLOG On Conforming Mortgage Credit Guidelines For Home Buyers Was UPDATED And PUBLISHED On June 20th, 2020 Conforming Mortgage Credit Guidelines For Home Buyers After Deed In Lieu And Short Sale Conforming Mortgage Credit Guidelines For Home Buyers After Deed In Lieu And Short Sale requires a 4 year mandatory waiting period after the deed…
ByMike Gracz
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This BLOG On Freddie Mac HomeOne Mortgage Guidelines For First Time Home Buyers Was PUBLISHED On June 12th, 2020 Freddie Mac has come out with a new Loan program called Freddie Mac HomeOne Mortgage to help first-time home buyers. This program is designed to attract clients who may be looking into low down payment options,…
ByGustan Cho
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This BLOG On Minimum Down Payment Conventional Mortgage Loan Program Was UPDATED And PUBLISHED On January 17th, 2020 There are various minimum down payment requirement mortgage loan programs for home buyers. Homebuyers who do not want to pay a monthly mortgage insurance premium, the minimum down payment required is 20% Conventional loans are different than…
ByGustan Cho
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This ARTICLE On Fannie Mae And Freddie Mac Increases Conventional Loan Limit To $510,400 Was PUBLISHED On November 26th, 2019 The housing market is booming. Actually, the housing market has been on fire for the past several years with no sign of a correction With the exception of a few states, home prices have been…
ByAlex Carlucci
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This Article Is About Conventional Mortgage Rates Drop To A 24 Month Low Conventional Mortgage Rates hit a 24 month low. The Federal Reserve Board has announced they will not be increasing interest rates for the remaining year of 2019 Mortgage Rates have been dropping since January 2019 and has recently hit a 24 month…
ByGustan Cho
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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…
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