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ByGustan Cho
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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.
ByGustan Cho
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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…
ByGustan Cho
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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?…
ByGustan Cho
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How Does Rapid Rescore Assist You in Securing a Mortgage in 2024? Imagine this: You’re almost ready to buy your dream home, but your credit score is holding you back. Maybe you’ve been working hard to pay down debt, or there’s a mistake on your credit report making your score look lower than it should…
ByGustan Cho
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How to Get a Mortgage During or After Chapter 11 Bankruptcy (2024 Updates) If you’re recovering from Chapter 11 Bankruptcy, you might feel unsure about your chances of buying or refinancing a home. But the good news is, you can still qualify for a mortgage, whether you’re in the middle of the repayment plan or…
ByGustan Cho
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Mortgage Guidelines with Unpaid Taxes: Qualifying for a Home Loan in 2024 Are you worried about unpaid taxes standing in the way of your dream home? The good news is that you can still qualify for a mortgage—even if you owe money to the IRS. However, the rules for mortgage guidelines with unpaid taxes depend…
ByGustan Cho
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Home Loan with Income Increase: Everything You Need to Know in 2024 Are you thinking about buying a home or refinancing your mortgage? Wondering if a recent income increase can help you qualify for a better loan or higher loan amount? You’re not alone! Many people are curious about how a new job, a promotion,…
ByAnngelli Abenes
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Changing Lenders After Locking Rates: What You Need to Know in 2024 Locking in a mortgage rate is a critical step for any homebuyer. Once your rate is locked, you’re often left wondering if you’ve made the right choice. But what happens if you find a better rate or your experience with your lender isn’t…
ByAnngelli Abenes
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Your 2024 Guide to Buying and Selling a Home at the Same Time Without the Stress Buying and selling a home at the same time can feel like juggling fireballs—exciting but stressful. If you’ve ever wondered how to handle both without losing your mind, you’re not alone. Many homeowners find themselves in this tricky situation….
ByLauren Wright
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This guide covers Great Content Authority FORUMS and Sub-FORUMS, commonly referred to GCA FORUMS. Great Content Authority FORUMS (GCA FORUMS) was established as an all-in-one online community where consumers, viewers, and members can get answers to frequently asked questions (FAQs) based on the community’s mortgage and real estate foundation. When people sell and purchase a…
ByAnngelli Abenes
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Understanding HUD Credit Score Guidelines in 2024 Are you dreaming of buying your first home but worried about your credit score? Or you’re considering refinancing but unsure if your credit history will hold you back. The Department of Housing and Urban Development, or HUD, has very flexible guidelines for FHA loans, which makes it easier…
ByChad Bush
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This article will discuss the California Housing Market Forecast for homebuyers of primary owner-occupant homes, second homes, investment homes, and commercial properties. California is the third-largest state in the United States. The state has the largest population of any state. With a population of 39.5 million, the area comprises 163,696 square miles (423,970 km2). Los…
ByAnngelli Abenes
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Borrowers who have credit scores under 620 FICO need a lower debt to income ratio to get an approve/eligible per automated underwriting system.
ByAnngelli Abenes
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Is it possible to get a mortgage with a recent eviction? It’s a common worry – can someone get a mortgage if they’ve just faced eviction? If you’re in this boat, you’re definitely not sailing alone. At Gustan Cho Associates, it’s a question that often lands in our inbox. The uplifting news here is that,…
ByAlex Carlucci
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In this article on the difference between a direct versus correspondent lender, we will explore the advantages and disadvantages of each choice when seeking a mortgage for a home. There are several different types of lenders, and depending on each borrower’s credit and income profile, choosing a specific lender may be more beneficial than going…
ByGustan Cho
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This guide covers buying house in community property states. Buying house in community property states can be tricky on certain loan programs. Thousands of Americans live in a community property state and may not understand how this can impact buying a home until they apply for a mortgage. In community property states, each spouse has…
ByDale Elenteny
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In this article, we will cover and discuss mortgage options for homebuyers in Idaho with bad credit and low credit scores. Many homebuyers in Idaho, especially first-time home buyers, do not realize that they can qualify for a home loan with bad credit. Gustan Cho Associates are mortgage brokers licensed in 48 states, including Washington,…
ByGustan Cho
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In this blog, we will be covering pre-qualifying borrowers with bad credit for mortgage loans. This article on pre-qualifying borrowers with bad credit for mortgage loans is a resource mortgage guide for borrowers and loan officers. New loan officers need to understand that the pre-approval process is the most important stage of the mortgage process….
ByGustan Cho
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This guide covers the minimum credit score mortgage guidelines on home loans. Income, credit, credit history, and credit scores are all determinants to qualify for mortgage loans. Every loan program has minimum credit scores mortgage loan programs. The single most important factor in whether or not borrowers qualify for a certain type of loan program…
ByGustan Cho
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In general, borrowers buy down mortgage rates to get a lower rate on their home loans. However, there are instances where borrowers need to buy down rates due to loan level pricing adjustments due to lower credit scores
ByMike Gracz
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This blog will explore and discuss the Colorado mortgage loan limits for FHA and Conventional Loans. Similar to trends nationwide, Colorado has seen an increase in loan limits for 2022. After thorough analysis, the Federal Housing Finance Agency (FHFA) has raised the conforming loan limits nationwide in response to the significant rise in home prices….
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