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ByJohn Strange
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In this blog, we will discuss and extensively cover everything you need to know about the loan estimate. The Loan Estimate, also known by mortgage industry professionals borrowers as the GFE, was created by the United States Department of Housing and Urban Development in 2010. The Good Faith Estimate is being replaced by the newly…
ByGustan Cho
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This article covers mortgage escrows guidelines on purchase and refinance home loans. Homeowners are not just responsible for their principal and interest payments on their loan balance but are also responsible for their property taxes and homeowners insurance. Lenders prefer their borrowers all have escrow account. By having a mortgage escrow account, the lender will…
ByGustan Cho
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This guide cover how long is a pre-approval valid when shopping for a home. A pre-approval letter is a ticket for homebuyers to go and enter into a real estate purchase contract and the transaction is likely to close. A pre-approval letter is not a guarantee that the mortgage loan application is guaranteed a residential…
ByGustan Cho
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This guide covers qualifying for a home mortgage after forbearance. Borrowers can qualify for a home mortgage after forbearance. The CARES ACT mortgage forbearance program is not treated the same as a regular forbearance due to not being able to afford monthly mortgage payments. In this article, we will discuss and cover qualifying for a…
ByGustan Cho
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This guide covers the first payment after closing for mortgage loan borrowers. One of the most common questions new homebuyers ask is when the first payment after closing. Other homeowners tell many that it will be a while before they make the first payment after closing on the new home. The first payment on a…
ByGustan Cho
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This guide covers the recovery of housing market and updates new mortgage guidelines and loan programs. Many of us remember the good old days of easy financing from the 90s until the real estate and mortgage meltdown of 2008. The Great Recession of 2008 hit everyone. Never in history since the Great Depression have so…
ByGustan Cho
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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…
ByMargarett Jurilla
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This guide covers removing judgments off credit report to qualify for and get approved for a mortgage. Borrowers can qualify and get approved for a mortgage with judgments, and tax Liens are the worst derogatory items consumers can have on credit reports. Lenders will not just go off consumer credit reports but will also do…
ByGustan Cho
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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….
ByGustan Cho
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This guide covers how to review credit report during the mortgage process. We will be discussing how to review credit report for errors before applying for a mortgage. An accurate credit report will avoid delays in the mortgage process and may boost your credit scores. Homebuyers should always review their credit reports before applying for…
ByGustan Cho
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This guide covers the frequently asked question of whether can you get denied for a mortgage with good credit. Income, credit, credit scores, assets, and liabilities are all majorly in the mortgage approval process. Two of the most important factors at the initial mortgage qualifying state are debt-to-income ratios and credit scores. Income plays the…
ByAlex Carlucci
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This guide covers home title insurance policy guidelines by lenders. A home title insurance policy is a contract of indemnity between the insured and the insurance company relating to the title to the land described in the policy. A Home Title Insurance Policy protects the insured against loss or damage because of defects, liens, or…
ByApril Ramirez
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In this blog, we will explain how Gustan Cho Associates goes above and beyond for their clients by having strong lending partnerships with the best wholesale mortgage lenders for non-prime loans with fair pricing on rates. We will cover and discuss the difference between using mortgage brokers versus mortgage bankers. Christian Sorenson, a wholesale account…
ByGustan Cho
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This guide covers the crisis in Florida homeowners insurance. Many insurance companies are getting out of the Florida homeowners insurance marketplace. It is costing insurance companies billions of dollars to insure a typical home in the state of Florida. Consider the company’s reputation and customer service. Research the reputation of the insurance companies you are…
ByGustan Cho
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This guide covers exploring the enchanting features of Manatee County Florida. Nestled along the picturesque Gulf Coast of Florida, Manatee County boasts a wealth of natural beauty, vibrant communities, and an array of attractions. Named after the gentle and majestic sea creatures that inhabit its waterways, Manatee County offers a diverse range of features that…
ByGustan Cho
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This guide covers what is a green mortgage and how it works. Are you looking for a way to make your home more energy-efficient and eco-friendly? Do you want to lower your utility bills and reduce your carbon footprint? If so, you may be interested in getting a green mortgage. Gustan Cho Associates are mortgage…
ByPeter Arcuri
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This guide covers refinancing your California mortgage loan during high rates and soaring inflation. California Homeowners Should Explore Refinancing Your California Mortgage Loan. Homes in California took a major hit during the 2008 Real Estate and Credit Collapse. Many homes in California, depending on the county the home is located, where home values dropped 30%…
ByGustan Cho
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This guide covers the benefits of making bi-weekly mortgage payments. The benefit of bi-weekly mortgage payments is that homeowners can pay off their loan balance before their 30-year fixed rate term. In the following paragraphs, we will be discussing how making bi-weekly mortgage payments can save you mortgage interest and shave four years off a…
ByAlex Carlucci
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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….
ByPeter Arcuri
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This blog is about understanding mortgage application process to avoid delays. Despite the countless mortgage lending guidelines, applying for a mortgage application has become much easier than a few years ago. Homebuyers with prior bad credit, prior bankruptcy, foreclosure, deed-in-lieu of foreclosure, and a short sale can now qualify for home loans. Many home buyers…
ByGustan Cho
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This guide covers applying for and getting approved for home loans with no credit. We have covered many blogs on how to get loans with bad credit, fair credit, and good credit, and blog topics on how to re-establish credit with a bad credit payment history. Gustan Cho Associates Mortgage Group has no lender overlays…
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