Mortgage With Late Payments After Bankruptcy And Foreclosure
Home loans are still available to borrowers with collections, charged-off accounts, or late payments. Lenders are generally willing to approve…
Home Mortgages | Credit Scores | Mortgage Processing And Underwriting | Qualifying & Getting Pre-approved | Videos
Qualifying Credit Score For Mortgage Used By Lenders
In this blog, we’ll explain the qualifying credit score that lenders use for mortgages. Mortgage underwriters determine this score by…
Home Loan Without Spouse Mortgage Guidelines
This guide covers qualifying for a home loan without spouse mortgage guidelines. There are many reasons why home buyers want…
Comparison of Mortgage Rates on Purchase and Refinance
This guide covers comparison of mortgage rates on purchase and refinance loans. Mortgage rates have been steadily going up to…
Working With A Loan Officer During The Mortgage Loan Process
In this blog, we’ll explore the process of working with a loan officer during your mortgage application. Choosing a loan…
Using 401k To Purchase Home Down Payment
Many homebuyers have substantial value on their 401k. They can use up to 60% of the value of their 401k for their down payment and/or closing costs on their home purchase. The amount used from their 401k is not used for their debt to income ratio calculations.
Correspondent Lending Versus Mortgage Brokers
This blog aims to explore the difference between correspondent lending and mortgage brokers. A common inquiry we receive regularly pertains…
What Is PITI In Mortgage?
All mortgage loan programs require a maximum front debt-income ratio and back debt to income ratio. However, conventional loans do not require a front debt to income ratio. VA loans do not have a debt to income ratio requirements. Lenders can have lender over lender overlays on debt to income ratios.
What Is The FHA Amendatory Clause And Who Is Obligated To Sign It
The Federal Housing Administration (FHA), a segment of the United States Department of Housing and Urban Development, was established in…
What is The Difference Between ARM Versus Fixed-Rate Mortgages
In this blog, we will cover ARM versus fixed-rate mortgages. ARM stands for an adjustable-rate mortgage. Adjustable-Rate Mortgage is when…
California FHA Loans Versus Other Mortgage Options For Homebuyers
California FHA loans are a preferred mortgage solution for various borrowers, including first-time homebuyers, individuals with poor credit, and those…
VA Loans Residual Income Guidelines For 2024
Lenders can offer 100% with no mortgage insurance at competitive low mortgage rates on VA loans due to the government guarantee against loss or foreclosure on VA loans. VA loans have no maximum debt-to-income ratio cap on VA loans.
Florida Housing Market For Homebuyers and Renters
There is no sign of any housing market crash, especially in Florida. Home prices are booming with no signs of any correction.
Community Property States Mortgage Guidelines On DTI
This article will tackle the Community Property States Mortgage Guidelines On DTI. Understanding marital property rights can be intricate, especially…
Bi-Weekly Mortgage Loan Payments Versus Monthly Payments
Transitioning from monthly to bi-weekly mortgage loan payments can be a strategic move for homeowners looking to expedite their mortgage…
How Underwriters Look at Credit Report vs Credit Scores
This blog will cover how mortgage underwriters look at credit report vs credit scores. Minimum credit scores are required to…
HUD DACA Mortgage Guidelines For DREAMERS on FHA Loans
This article will cover HUD DACA mortgage guidelines on FHA loans for DREAMERS. Gustan Cho Associates have some good news…
Home Mortgages | Home Purchase | Mortgage Processing And Underwriting | Qualifying & Getting Pre-approved | Regulations | Videos
How Qualified Mortgages Affect Borrowers and Lenders
This guide covers how qualified mortgages affect borrowers and lenders on residential loans. To avoid another 2008 financial crisis, Congress…
Furnishing Your New Home Purchase Prior To Closing On Home Loan
Congrats on your new home purchase! We’ll guide you through the exciting process of Furnishing Your New Home Purchase Prior…
How To Calculate Income For Mortgage With Multiple Jobs
This blog will cover and discuss how to calculate income for mortgage with multiple jobs. Homebuyers can qualify for a…
Federal Employee Mortgage Loan Programs
In this mortgage guide, we will cover and discuss federal employee mortgage loan programs offered at Gustan Cho Associates Gustan…
Child Support Mortgage Guidelines On Home Purchase And Refinance
What Are The Updated Child Support Mortgage Guidelines On Home Purchase And Refinance For 2021? You cannot have delinquent child support payments and qualify for a mortgage.
