Income-Based Repayment
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Income-Based Repayment Student Loan Mortgage Guidelines

ByGustan Cho Posted on

 This guide aims to understand Income-Based Repayment Student Loan Mortgage Guidelines clearly. The daunting task of outstanding student loans presents a substantial challenge for numerous Americans, especially those navigating the intricate process of qualifying for a home mortgage. In homebuying, where financial considerations are pivotal, adopting income-based repayment measures becomes increasingly significant. Notably, governing bodies…

Fannie Mae Guidelines on Community Property States
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Fannie Mae Guidelines on Community Property States

ByEric Jeanette Posted on

This guide offers insights into Fannie Mae Guidelines on Community Property States, catering to individuals searching for mortgage-related information. An additional focus is placed on elucidating Fannie Mae Guidelines about the debts of non-borrowing spouses within Community Property States. Navigating community property states can be intricate for those pursuing mortgages, especially given that the United…

FHA Debt-To-Income Ratio Requirements
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FHA Debt-To-Income Ratio Requirements

ByGustan Cho Posted on

This blog will cover FHA debt-to-income ratio requirements for FHA loans.  Just because borrowers meet all the HUD Agency Mortgage Guidelines on FHA loans does not mean that all lenders will approve borrowers meeting just the minimum agency mortgage guidelines. Lenders will require all borrowers to meet the minimum HUD agency mortgage guidelines on FHA…

Overlays on Debt-To-Income Ratio
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Overlays on Debt To Income Ratio on FHA Loans

ByGustan Cho Posted on

This guide covers overlays on debt-to-income ratio on FHA loans. Homebuyers who got issued pre-approval from a mortgage loan originator but think that the loan amount is not enough may have options. Debt-to-income ratio is the determinant on how much borrowers can qualify for. Overlays on debt-to-income ratio can limit maximum loan amounts borrowers can…

Debt-to-Income Ratio Limit
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Debt-To-Income Ratio Limit To Qualify For Mortgage Loan

ByGustan Cho Posted on

This GUIDE covers debt-to-income ratio limit to qualify for a mortgage loan. Home loans and debt-to-income ratio limit. Every mortgage loan program has a debt-to-income ratio limit (DTI). FHA loans have a more lenient debt-income ratio requirements than any other mortgage loan program. Debt-to-income ratios is calculated by taking the sum of all minimum monthly…

Property Taxes Can Determine Buying Power
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Property Taxes Can Determine Buying Power on Homes

ByAlex Carlucci Posted on

This guide covers how property taxes can determine buying power on home purchase. Every homeowner needs to pay property taxes. Property taxes are mandatory on all properties in the United States. Property taxes can determine buying power for home buyers because it affects debt-to-income ratios. There is no set percentage of the home value that…

How Can I Qualify For W2-Only Income Mortgages
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How Can I Qualify For W2-Only Income Mortgages

ByAlex Carlucci Posted on

Homebuyers with pending income tax returns or significant unreimbursed business expenses may be eligible for W2-only income mortgages. Gustan Cho Associates doesn’t mandate income tax returns from borrowers unless the Automated Underwriting System specifically demands a two-year tax return for qualification. We offers W2-Only Income Mortgages on the following loan programs: FHA loans VA loans…

How Credit Card Balance Affect Debt-To-Income Ratio
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How Credit Card Balance Affect Debt-To-Income Ratio

ByGustan Cho Posted on

This guide covers how credit card balance affect debt-to-income ratio for mortgage borrowers. We will discuss the negative impact how high credit card balance affect debt-to-income ratio and lowers credit scores during the mortgage process. Homebuyers or homeowners trying to refinance their home loan, credit scores are not the only thing they need to worry…

Importance of Debt-to-Income Ratio In Mortgages
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The Importance of Debt-To-Income Ratio in Mortgages

ByGustan Cho Posted on

This guide covers the importance of debt-to-income ratio in mortgages. Borrowers need to keep in mind the importance of debt-to-income ratio in mortgages when qualifying. DTI is what determines whether or not a borrower qualifies for a mortgage. You can have the best credit and credit scores in the world but if your debt-to-income ratios…

Calculating Monthly Mortgage Payment On Home Purchase
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Calculating Monthly Mortgage Payment on Home Purchase

ByGustan Cho Posted on

This guide covers calculating monthly mortgage payment on a home purchase. Many first-time homebuyers think they need a lot of money to purchase a home. When they see that homes average $200,000, they think they could never afford a home and do not consider it. The fact is that you do not need much money…

Paying Down Credit Card Balances
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Paying Down Credit Card Balances To Boost Credit Scores

ByGustan Cho Posted on

This guide covers paying down credit card balances to boost credit scores and lower high debt-to-income ratios to qualify for a mortgage and get approved for new credit. Debt-to-income ratios are among the most important factors a mortgage underwriter will consider when qualifying borrowers.  Paying down credit card balances is the fastest and easiest way…

Taking Out That Next Student Loan
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How Taking Out That Next Student Loan Can Affect Mortgage

ByAlex Carlucci Posted on

This guide covers the risk of taking out that next student loan when getting a mortgage loan approved. If you plan on buying a home, think twice before taking out that next student loan. I worked in the medical field for three years while slowly chipping away at my student loans by making minimal payments….

Debt-To-Income Ratio Overlays
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Debt-To-Income Ratio Overlays Versus Agency Guidelines

ByGustan Cho Posted on

This guide covers debt-to-income ratio overlays versus agency mortgage guidelines. We will be discussing what debt-to-income ratio overlays by independent lenders are. Debt To Income Ratio Overlays is additional guidelines that an individual lender sets on top of the minimum lending requirements mandated by the particular mortgage loans program, such as FHA, VA, USDA, Fannie…

Mortgage With High Student Loan Debts
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Qualifying For Mortgage With High Student Loan Debts

ByGustan Cho Posted on

This guide covers qualifying for mortgage with high student loan debts. Every loan program has different guidelines on mortgage with high student loan debts. Government, Conventional, non-QM, bank statements, jumbo mortgages, and alternative financing loans all have their mortgage with high student loan debts lending requirements. John Strange, a senior loan officer and expert in…

Impact On Debt Versus Your Credit Scores

Debt Versus Credit Scores During Mortgage Qualification

ByGustan Cho Posted on

This Article Is About Debt Versus Credit Scores During Mortgage Qualification There is a negative impact on debt versus credit scores. If you have credit cards with high credit balances, that will negatively impact your credit scores. The good news is that paying down credit card balances will boost credit scores. Here is the scoop…

Exempt Debts From Debt To Income Ratio To Qualify For Mortgage
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Exempt Debts From Debt To Income Ratio To Qualify For Mortgage

ByGustan Cho Posted on

This Article Is About Exempt Debts From Debt To Income Ratio To Qualify For Mortgage There are certain Exempt Debts From Debt To Income Ratio. Borrowers with high debt to income ratios with debts that are co-signed and/or debts someone else is paying can get those debts exempt from DTI calculations The borrower needs to…

What is high income debt
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Mortgage With High DTI Guidelines On Home Loans

ByGustan Cho Posted on

This Article Is About Mortgage With High DTI Guidelines On Home Loans Qualifying for a mortgage with high DTI can be very challenging. The reason why qualifying for a mortgage with high DTI is extremely challenging This is because most lenders will have overlays on debt to income ratios This often causes a loan denial…

How Credit Scores Impact DTI

How Credit Scores Impact DTI On FHA And Conventional Loans

ByGustan Cho Posted on

This BLOG On How Credit Scores Impact DTI On FHA And Conventional Loans Was UPDATED On May 5th, 2019 A person’s credit score will determine whether or not the person can qualify for a certain mortgage loan program. For example, the minimum credit score needed to qualify for a conventional loan is 620 The minimum credit…

Front End Debt To Income Ratios

Front End Debt To Income Ratios Mortgage Guidelines

ByGustan Cho Posted on

This BLOG On Front End Debt To Income Ratios Mortgage Guidelines Was UPDATED On November 12th, 2018 There are two different types of debt to income ratios: Front End Debt To Income Ratios Back End Debt To Income Ratios A homeowner’s monthly mortgage payment consists of the following and is called P.I.T.I. Principal Interest Property Taxes…