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ByGustan Cho
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This ARTICLE On 15 Year Versus 30 Year Fixed Rate Mortgages On Loan Programs. All residential mortgage loan programs have amortized terms. The most common mortgage programs are the 30-year fixed-rate mortgages. 30-year fixed-rate mortgages are the most popular due to lower monthly mortgage payments due to its longer amortized schedule of 30 years. The…
ByGustan Cho
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This guide covers the benefits of refinance mortgage loans. There are many benefits of refinance mortgage. Although the Federal Reserve Board has recently raised interest rates by 0.25% basis points, mortgage rates are still at historic lows. Nobody has a crystal ball, but mortgage interest rates cannot remain this low forever. The Feds are closely…
ByDale Elenteny
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Homeowners should explore how much money they can save with today’s historic low mortgage rates to refinance their home loans.
ByJohn Strange
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This blog post will explore and elaborate on the Texas Cash-Out Refinance Guidelines in home mortgages. Gustan Cho Associates, a team of mortgage brokers, holds licenses in 48 states, specifically including Texas. Operating as licensed mortgage lenders in those same 48 states, Gustan Cho Associates has earned a national reputation for successfully facilitating mortgage loans…
ByAlex Carlucci
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This guide covers understanding the basics on what is a mortgage. We will cover and discuss the meaning of what is a mortgage. Unless you are thinking about buying a new home or are a homeowner thinking about refinancing, most Americans really do not care to know the basic understanding of mortgages. Many folks think…
ByDale Elenteny
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In this blog, we will discuss and cover FHA vs conventional cash-out refinance mortgage loans and general rate and term refinance mortgage guidelines. HUD, the parent of FHA, has changed the FHA cash-out refinance guidelines for homeowners from 85% loan to value to 80% LTV. HUD requires FHA mortgage insurance premium on all 30-year fixed-rate…
ByGustan Cho
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This guide covers what is the definition of net tangible benefits for refinancing. When mortgage rates were at a 3-year low, mortgage lenders could not keep up the volume of refinancing loan applications. Experts are anticipating mortgage rates to drop in the coming weeks and months: The Federal Reserve Board (The Fed) has recently did…
ByAlex Carlucci
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Homeowners With FHA Loans Should Consider A Conventional Refinance Loan While Mortgage Rates Are At Historic Lows And Avoid Paying FHA MIP. Mortgage rates are at historic lows and many home values have skyrocketed in the past several years. Many homeowners with FHA loans can benefit by refinancing to a conventional mortgage and avoid paying LPMI.
ByGustan Cho
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This article covers Conforming versus government-backed loans. FHA, VA, and USDA loans are called government-backed loans. This is because lenders who originate these types of home loans are guaranteed by the government. FHA loans are insured by the Federal Housing Administration, a subsidiary of the United States Department of Housing and Urban Development VA loans…
ByAlex Carlucci
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This guide covers Chicago mortgage refinance loan process for homeowners. Many homeowners refinance mortgage loans because they want to reduce their mortgage rates thus lowering their monthly payments. In this article, we will cover and discuss the benefits of refinancing a home mortgage during these times of historic low-interest rates. Mortgage refinancing is a process…
ByGustan Cho
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Lenders can cover borrowers’ mortgage refinance costs with a lender, credit in lieu of a higher mortgage rate to the borrower. All mortgage loans, whether they are purchase or refinance mortgages, have closing costs. Homeowners who are thinking of refinancing their current mortgage will have mortgage refinance costs associated with their refinance. Some states have…
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…
ByAlex Carlucci
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This guide covers refinancing non-QM to conforming loans with lower mortgage rates. Mortgage rates hit the highest in 2023 since the 2008 Housing Bubble and Credit Collapse. Mortgage rates are increasing at historic twenty-year highs despite skyrocketing home prices, out-of-control inflation, and a volatile economy. Non-QM loans remain popular and are the mortgage loan of…
ByGustan Cho
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In this blog, we will cover and discuss homeowners doing a fast-track low-interest FHA streamline refinance in Alabama for homeowners with a current FHA loan. Homeowners can qualify for an FHA streamline refinance in Alabama with bad credit, no appraisal, no income verification, plus no closing costs. Borrowers can have very low credit scores and…
ByAlex Carlucci
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In this article, we will discuss and cover qualifying for an FHA streamline refinance in Wisconsin with the best rates and closing in two weeks. Gustan Cho Associates offers FHA streamline refinance in Wisconsin with no appraisal, no income with a fast-track no stress mortgage process. The FHA Streamline Refinance in Wisconsin mortgage process is…
ByGustan Cho
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In this article, we will cover and discuss qualifying for a mortgage one day out of foreclosure lending guidelines. Housing prices kept on going up like never in history in the 2000s. Real estate was the investment of choice for most Americans. A large percentage of American workers had other properties as their choice of…
ByGustan Cho
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In this blog, we will discuss and cover FHA streamline refinance Connecticut with no appraisal and no income docs required. FHA Streamline Refinance Connecticut is when a homeowner with a current FHA home loan refinances with a new FHA loan. HUD, the parent of FHA, does not require homeowners with an FHA loan to get…
ByGustan Cho
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In this article, we will cover and discuss FHA streamline refinance Utah mortgage guidelines. Gustan Cho Associates, Empowered by NEXA Mortgage, LLC, is a mortgage broker licensed in 48 states. We have wholesale lending relationships with over 160 wholesale mortgage lenders. Most of our wholesale lenders on government and conventional loans have no mortgage overlays…
ByMike Gracz
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What Are Refinancing Community Property States Mortgage Guidelines? Refinancing in community property states requires non-borrowers debts to be included on FHA loans. Conventional loans do not require non-borrowers debts to be included in the debt to income ratio calculations.
ByGustan Cho
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In this article, we will cover and discuss rate and term refinance mortgage loans versus other types of refinance options. Cash-Out and Rate And Term Refinance Mortgage Loans require full documentation as well as a new home appraisal. The easiest and fast track refinance loan program is the FHA Streamline Refinances and VA Streamline Refinances….
ByGustan Cho
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FHA Streamline Refinance California is a fast-track refinance mortgage loan program for California homeowners with a current FHA loan. They can refinance their current FHA Loan into another FHA loan at a lower mortgage rate to lower their mortgage rates. Doing so will get them a reduction in their monthly mortgage payments. By refinancing their…
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