HUD Bankruptcy Guidelines
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HUD Bankruptcy Guidelines After Chapter 7 And Chapter 13

ByGustan Cho

This article will discuss HUD bankruptcy guidelines following Chapter 7 and Chapter 13 bankruptcy, particularly about FHA loans. HUD Bankruptcy Guidelines affirm that individuals can become eligible for FHA loans after Chapter 7 and Chapter 13 Bankruptcy filings. Many prospective homebuyers, particularly those entering the market for the first time, may erroneously believe that obtaining…

Property Tax Proration VA Guidelines
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Property Tax Proration VA Guidelines on VA Home Loans

ByGustan Cho

This guide covers property tax proration VA guidelines on VA home loans. There are certain states where property taxes are paid in arrears. States, where property taxes are paid in arrears, require that sellers credit buyers with the prior year’s taxes at closing. These is called property tax proration credits. Every loan program has property…

Fannie Mae-Freddie Mac Condo Guidelines
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Conventional Loan Fannie Mae-Freddie Mac Condo Guidelines

ByAnngelli Abenes

This article focuses on the Fannie Mae-Freddie Mac Condo guidelines on conventional loans. These guidelines enable eligible borrowers to secure conventional condominium loans with a down payment as low as 3%. Condominiums have seen a surge in popularity in recent years, attracting various demographics, including seniors, millennials, and single, non-married individuals. One of the primary…

Two FHA Loans At The Same Time
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Can I Have Two FHA Loans at The Same Time

ByGustan Cho

This guide explains the requirements for obtaining two FHA loans at the same time. This is important information for those who want to finance two primary residences. Joey Virga, the President and CEO of Virga Realty, a distinguished real estate company headquartered in Panama City, Florida, shares insights into his clients’ journey to obtain approval…

Buying House Near Apartment Community or Commercial Areas
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Buying House Near Apartment Community or Commercial Areas

ByDale Elenteny

This blog post will explore the implications of Buying House Near Apartment Community or Commercial Areas. Buying a house near an apartment community can significantly impact homebuyers. There have been numerous cases where individuals buy homes near large apartment complexes and experience dissatisfaction after the relocation. Unlike buying a car or other high-ticket items, purchasing…

Reasons Why Hiring Realtor on Home Purchase Is Important
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Reasons Why Hiring Realtor on Home Purchase is Important

ByGustan Cho

This article covers reasons why hiring realtor on home purchase is important. Getting hooked up with the right real estate agent is one of the most important factors in the home buying process. Most homebuyers need a real estate agent who not only is knowledgeable but is also familiar with the area and its pros…

FHA Guidelines on Charge-Offs and Collections For 2024
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FHA Guidelines on Charge-Offs and Collections For 2024

ByDale Elenteny

we will discuss the FHA Guidelines on Charge-Offs and Collections, crucial information for anyone seeking an FHA loan. These guidelines allow individuals with outstanding charge-offs and collection accounts to qualify for FHA financing. Despite such financial blemishes on your credit report, you may still meet the criteria for securing an FHA loan. Understanding these guidelines…

Using Realtor Commission
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Using Realtor Commission For Home Purchase Down Payment

ByAnngelli Abenes

This guide covers using realtor commission for home purchase down payment. This article delves into using realtor commission for a home purchase down payment, emphasizing that such utilization is accepted as qualified funds. At Gustan Cho Associates, our extensive collaboration with real estate agents nationwide has provided us with valuable insights into the challenges faced…

USDA Home Loan Requirements

USDA Home Loan Requirements

ByGustan Cho

In this comprehensive overview of USDA home loan requirements, we will delve into the various prerequisites for USDA home loans that borrowers need to meet and the categories of qualified properties. The United States Department of Agriculture designates rural or suburban areas, providing homebuyers the opportunity to acquire homes in these specified regions through USDA…

Underwriters Conditions
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Clearing Underwriters Conditions To Submit For Clear To Close

ByPeter Arcuri

In this guide, we address underwriters conditions to pave the way for a clear-to-close submission. Whether individuals seek approval for a home purchase mortgage loan or aim to refinance, the approval procedures remain consistent. Please submit all the required underwriting conditions to avoid delays during the mortgage loan closing process. The focal point of this…

FHA Loans With No Credit Scores
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How To Get Approved For FHA Loans With No Credit Scores

ByMike Gracz

Gustan Cho Associates are experts when analyzing consumer credit reports. Since we do not have lender overlays, we see all types of credit scores. Many loan officers can close a 780 credit score, 20% down payment, and W-2 income borrower in their sleep. The same is true with our team. However, we specialize in helping…

Low Appraisal on Home Purchase
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Low Appraisal on Home Purchase and Solutions For Borrowers

ByAlex Carlucci

This guide covers low appraisal on home purchase and solutions for mortgage borrowers. We will discuss solutions to low appraisal on home purchase. Low appraisal on home purchase can be avoided if the sellers’ price out the home appropriately prior to listing the home. Low appraisals often will delay the mortgage and closing process. Appraisers…

FHA Guidelines on Manufactured Home Loans
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FHA Guidelines on Manufactured Home Loans

ByGustan Cho

This guide covers FHA Guidelines on Manufactured Home Loans. FHA Guidelines on manufactured home loans are released. HUD, the parent of FHA loans, sets all the agency guidelines on Manufactured Homes and FHA loans. More and more homebuyers are interested in buying manufactured homes. Technology has come a long way. Dale Elenteny, a senior loan…

VA Guidelines On Deferred Student Loans
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VA Guidelines On Deferred Student Loans On VA Home Loans

ByGustan Cho

This article explores the VA Guidelines on Deferred Student Loans and their influence on the debt-to-income ratio in the context of VA loans. VA YouTubeloans are the only program not considering deferred student loans lasting over 12 months when determining eligibility. Unlike other loan programs, VA loans do not impose a mandatory minimum credit score…

Fannie Mae-Freddie Mac Charge-Off Guidelines
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Fannie Mae-Freddie Mac Charge-Off Guidelines On Conventional Loans

ByAlex Carlucci

This blog post will explore the Fannie Mae-Freddie Mac charge-off guidelines applicable to conventional loans. Gustan Cho Associates has recently received numerous inquiries regarding conventional mortgages and charged-off accounts. These queries have come from prospective borrowers and loan officers, emphasizing the importance of educating our readers on this topic. The Fannie Mae-Freddie Mac Charge-Off Guidelines…

Property Taxes Can Determine Buying Power
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Property Taxes Can Determine Buying Power on Homes

ByAlex Carlucci

This guide covers how property taxes can determine buying power on home purchase. Every homeowner needs to pay property taxes. Property taxes are mandatory on all properties in the United States. Property taxes can determine buying power for home buyers because it affects debt-to-income ratios. There is no set percentage of the home value that…

Real Estate Purchase Land Contracts
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Buying Home With Real Estate Purchase Land Contracts

ByGustan Cho

This guide covers buying home with real estate purchase land contracts or seller financing. Real estate purchase land contracts is where the home buyer agrees to purchase the home from the seller. Real estate purchase land contracts is buying a home without financing from a mortgage lender. The agreement is made between the home buyer…

Loan Estimate
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Everything You Need To Know About The Loan Estimate

ByJohn Strange

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…

Freddie Mac Foreclosure Guidelines on Conventional Loans
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Freddie Mac Foreclosure Guidelines on Conventional Loans

ByGustan Cho

This article covers Freddie Mac foreclosure guidelines on Conventional loans. Fannie Mae and Freddie Mac is the nations largest buyers of mortgage-backed securities. The role of Freddie Mac is to keep market liquidity by buying funded mortgage loans on the secondary market. Freddie Mac is the reason why mortgage lenders can originate and fund loans…