VA Chapter 13 Bankruptcy Buy-Out
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VA Chapter 13 Bankruptcy Buy-Out Cash-Out Refinance

This article will discuss the buy-out cash-out refinance option for VA Chapter 13 Bankruptcy. A VA Chapter 13 Bankruptcy buy-out can be accomplished using a cash-out refinance on VA home loans while under a Chapter 13 Bankruptcy repayment plan. The widespread financial hardship caused by the coronavirus pandemic outbreak in February 2020 has significantly affected…

Colorado Mortgage Loan Limits
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Colorado Mortgage Loan Limits on FHA and Conforming Loans

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….

Choosing The Right Mortgage Company
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Choosing The Right Mortgage Company For Loan Officers

This guide covers choosing the right mortgage company for loan officers. Choosing the right mortgage company for loan officers is one of the most important decisions a mortgage loan originator needs to make. John Strange, a senior loan officer at Gustan Cho Associates, explains choosing the right mortgage company for loan officers to start their…

Buying House During Chapter 13
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Buying House During Chapter 13 Repayment Plan Mortgage Guidelines

This ARTICLE Is About Buying House During Chapter 13 Repayment Plan Mortgage Guidelines Buying House During Chapter 13 Repayment Plan is allowed only with FHA and VA loans. Borrowers can qualify for FHA and VA loans without the Chapter 13 Bankruptcy is discharged. FHA and VA are the only two mortgage loan programs that allow…

Tennessee Home Prices Continue

Tennessee Home Prices Continue To Rise Due To Low Mortgage Rates

Tennessee Home Prices Continue to Rise in 2024 Tennessee boasts a healthy state government with a surplus, which is excellent news for the state’s financial health. Many residents from financially struggling states like Illinois are moving to Tennessee. The state attracts numerous residents from high-tax states such as Illinois, Wisconsin, California, New York, New Jersey,…

VA Loans With Under 620 Credit Scores
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VA Loans With Under 620 Credit Scores Guidelines

In this article, we will discuss and explain the guidelines for VA loans with under 620 credit scores. VA loans are considered the best mortgage loan program available for home buyers. However, VA Home Loans are exclusively available to Veterans of the United States Armed Forces who possess a valid Certificate of Eligibility (COE). Importantly,…

Mortgage Rates During The COVID-19 Pandemic

Mortgage Rates During The COVID-19 Pandemic

This guide covers the volatility of mortgage rates during the Covid-19  pandemic. Mortgage Rates During The COVID-19 Pandemic is two-fold. Mortgage rates are at historic lows for prime borrowers. Prime borrowers are mortgage borrowers with at least 740 credit scores, low debt-to-income ratios, 25% down payment, and no loan-level pricing adjustments. However, any borrower with…

Qualifying Borrowers For Mortgage
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Qualifying Borrowers For Mortgage on Purchase and Refinance

This guide covers the process of qualifying borrowers for mortgage on home purchases and refinances. From the application stage to closing, the mortgage process has numerous steps. One of the most crucial steps is qualifying borrowers for mortgage during the initial call. Even though many borrowers may have previously gone through the mortgage process, it…

Layered Risk In Manual Underwriting
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What Factors Are Considered Layered Risk In Manual Underwriting

In this blog, we will be discussing the factors that are considered layered risks in manual underwriting. FHA and VA loans are the two primary loan programs that permit manual underwriting. When a VA or FHA loan receives a refer/eligible finding on the automated underwriting system (AUS), the application can still proceed with manual underwriting….

Credit in Mortgage Process
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Credit in Mortgage Process: Credit Scores vs Credit Report

This guide covers credit in mortgage process. We will cover the difference between credit scores vs credit reports. Credit in mortgage process is probably one of the most important factors when it comes to residential home mortgages.  There are two ways mortgage lenders view credit. Borrowers need to meet minimum credit score requirements. The minimum…

FHA Loans vs VA Loans
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FHA Loans vs VA Loans: Comparing Mortgage Options

In this article, we will be comparing FHA loans vs VA loans. VA loans by far are the best mortgage loan program in the nation. The U.S. Department of Veterans Affairs is the federal government agency administering the agency mortgage guidelines on VA loans. The role of the Veterans Administration (VA) and the U.S. Department…

Non-QM And Bank Statement Mortgage
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Non-QM and Bank Statement Mortgage With NO Tax Returns

In this article, we will cover and discuss non-QM and bank statement mortgage with no income verification. Non-QM and bank statement mortgage loans do not require income verification. Therefore, income tax returns are not required on non-QM and bank statement mortgage loans. Gustan Cho Associates offer a wide variety of mortgage products. Over the past…

Realtors Marketing Package For Home Buyers
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Realtors Marketing Package For Home Buyers

This guide covers realtors marketing package for home buyers, real estate agents and referral partners. Home buyers rely on their real estate agents for advice, and one of the most important roles of a realtor is to give their home buyers a referral to a loan officer. Giving the wrong loan officer referral partner as…

How Student And Car Loans Affect DTI
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How Student And Car Loans Affect DTI For Mortgages

This article will explore how student and car loans affect DTI (Debt-to-Income) mortgage ratios. Auto loans are typically the second-largest monthly payment for consumers after their mortgage. Student and auto loans are the two most significant monthly debts that impact DTI ratios when borrowers qualify for a mortgage. Auto loan payments can sometimes be equivalent…

NON-QM Jumbo Loans
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NON-QM Jumbo Loans For Bad Credit and No-Income Docs

NON-QM jumbo loans are alternative mortgage loan programs for owner-occupant primary homes, second homes, and investment properties. Most non-QM loans do not have maximum loan limits. Any non-QM or alternative lending products with a loan balance higher than the 2023 conforming loan limit of $726,200 is called or often referred to as non-QM jumbo loans….

Buying Your First Home In Wyoming
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Steps To Buying Your First Home In Wyoming Without Stress

In this blog, we will cover and discuss the steps to buying your first home in Wyoming. Buying your first home in Wyoming should not be stressful. It should be an exciting point in your life where you are making your single largest investment and starting a new chapter in your life as a homeowner….