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ByGustan Cho
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2024 Guide to Low Credit Score Pricing Adjustments: Understanding Your Options to Save on Your Mortgage Ready to buy or refinance but worried about how your credit score affects your mortgage rate? Don’t stress—understanding low credit score pricing adjustments can help you save on your mortgage. Let’s break down how these adjustments work, what they…
ByAnngelli Abenes
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Understanding Discount Points: Your Key to Big Savings on Your Mortgage When exploring your mortgage options, “discount points” often pop up. What are they? Simply put, discount points are a way to pay down your mortgage rate, potentially saving you thousands of dollars over the life of your loan. This detailed guide will thoroughly explore…
ByGustan Cho
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Issues With Condominium Financing And Mortgage Options in 2024 Financing a condominium can be a smart choice for many buyers. Condos often offer a mix of affordability and convenience. Still, getting a mortgage for one can come with unique challenges. At Gustan Cho Associates, we’re experts in helping buyers navigate the issues with condominium financing,…
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…
ByChad Bush
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This guide guide covers how home prices are increasing despite higher mortgage rates. All indicators point to a housing bubble. The real estate boom we have experienced since 2019 is like no other housing explosing since the housing market peaked in 2005-06. HUD and the FHFA have increased loan limits for eight years in a…
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 FHA versus conventional mortgage rates on purchase and refinances transactions. One of the most common questions the team at Gustan Cho Associates is how are FHA versus Conventional mortgage rates. Not all borrowers get the same mortgage rates. Prime borrowers will get the best mortgage rates and terms. Prime borrowers have at…
ByGustan Cho
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This article covers the mortgage rate lock process and how to decide when to lock in a mortgage. You cannot close your mortgage without locking your interest rate when your lender gives you a mortgage rate quote that tells you what rate is available to you that day. But your mortgage rate is not guaranteed…
ByGustan Cho
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Remote job positions enable homebuyers to purchase homes in other states. This is because remote wage earners no longer have to report to a brick-and-mortar location. Many people are fleeing high-taxed cities and states to lower-taxed states with affordable housing and lower cost of living.
ByGustan Cho
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Mortgage Rates have dropped has dropped again after the sudden surge in recent weeks.
ByGustan Cho
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Non-QM mortgage rates are determined by the down payment, credit scores, credit history of the borrower, and type of property. The higher the credit score and the higher the down payment, the lower the mortgage rates.
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
ByGustan Cho
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This Article Is About Understanding VA Mortgage Rates And Loan Level Pricing Adjustments VA loans are the best home mortgage program in the United States. The government has created and launched VA loans decades ago to reward qualified members of our U.S. Military to reward them for their service to our country. Only select qualified…
ByDale Elenteny
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This guide covers changes in mortgage guidelines on home loans and year-end recap. 2023 was a tough year for the mortgage industry and Gustan Cho Associates. It was a year filled with ups and downs in the housing and mortgage markets. In this guide, we will detail changes in the housing, mortgage, and financial markets….
ByAlex Carlucci
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This guide covers comparison of mortgage rates on purchase and refinance loans. Mortgage rates have been steadily going up to all time highs for home buyers shopping for a home loan or homeowners thinking of refinancing their current home loans. Mortgage rates have been steadily increasing and are at the highest rates since the 1980’s….
ByAlex Carlucci
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This guide covers buying an investment property using a conventional loan. Buying an investment property using a conventional loan with have tighter restrictions, lower debt-to-income ratio, mortgage loan-level pricing adjustments, and higher rates from Fannie Mae and Freddie Mac. Mortgage giants Fannie Mae with regards to buying an investment property using a conventional loan. Fannie…
ByGustan Cho
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This guide covers credit scores and mortgage rates versus pricing adjustments. Credit scores and mortgage rates go side by side. The most important factor in any mortgage loan application process is one’s credit score. Although income, credit, credit history, debts, assets, and liabilities are all important in the mortgage loan application process, the single most…
ByGustan Cho
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This blog aims to explore the difference between correspondent lending and mortgage brokers. A common inquiry we receive regularly pertains to the lender type offering the most favorable rates. The response is straightforward: correspondent lenders aren’t mandated to reveal the yield spread premium in the closing disclosure, and there’s no upper limit on this premium…
ByDale Elenteny
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This guide covers shopping for best mortgage rates in California on home purchase and refinance home loans. California is the nation’s most populous state. Many counties in the state of California is classified as high-cost areas. FHA, VA, and Conventional loan limits are substantially higher than other parts of the country on high-cost areas. California…
ByGustan Cho
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This guide covers qualifying for the lowest FHA mortgage rates on FHA loans. Qualifying for the lowest FHA mortgage rates is every borrowers goal. There are ways to prepare for a mortgage a few months before actually applying for a home loan. Not everyone gets the same mortgage rates on FHA loans. Mortgage lenders will…
BySapna Sharma
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In this blog, we will cover ARM versus fixed-rate mortgages. ARM stands for an adjustable-rate mortgage. Adjustable-Rate Mortgage is when the mortgage interest rate of the loan is not fixed for the 30-year term; The mortgage interest rate is fixed for the initial rate period, which is normally three years, five years, seven years, or…
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