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This guide covers the importance of job stability when buying a house with a mortgage. Income is the most important factor when qualifying for a mortgage. You can have the highest credit scores in the world but without documented income, you will not qualify for a mortgage. You can have credit scores down to 500…
This guide cover how long is a pre-approval valid when shopping for a home. A pre-approval letter is a ticket for homebuyers to go and enter into a real estate purchase contract and the transaction is likely to close. A pre-approval letter is not a guarantee that the mortgage loan application is guaranteed a residential…
This guide covers investing in a distressed property and what you need to know. Distressed properties refer to properties for which the owner defaults on the mortgage. Investing in distressed homes became very common in the late 2000s, with a third of home sales between 2008 and 2011 falling into this category, according to Money…
This guide covers home loan after foreclosure waiting period guidelines to qualify for a mortgage. Millions of homeowners have had foreclosures in recent years. There are waiting period requirements to qualify for a home loan after foreclosure with government and conventional loans. Non-QM loans do not have any waiting period requirements after foreclosure. Foreclosure rates…
This guide covers buying a home with a well and septic versus public water and sewer. Buying a home with a well and septic compared to public water and sewer is often the case when buying a home in a rural area. The coronavirus pandemic has changed the way we work. Many companies are changing…
This guide covers paying down credit card balances to boost credit scores and lower high debt-to-income ratios to qualify for a mortgage and get approved for new credit. Debt-to-income ratios are among the most important factors a mortgage underwriter will consider when qualifying borrowers. Paying down credit card balances is the fastest and easiest way…
This guide covers the differences between FICO and VantageScore Credit Scores. We will explain the differences between FICO and VantageScore credit scores in mortgage lending and rebuilding credit. Understanding the differences Between FICO and VantageScore is important when rebuilding credit and applying for a mortgage. FICO and VantageScore are the two most widely recognized scoring…
This guide covers commercial real estate loans. The team at Gustan Cho Associates are expert advisors on commercial real estate loans. Gustan Cho has owned and operated more than 3,000 rental units as a commercial real estate investor and has advised and counseled countless investors. Gustan Cho Associates Mortgage & Real Estate Information Center provides…
This guide covers everything about consumer loans. Gustan Cho Associates helps our viewers and clients get approved for all different types of consumer loans through our commercial lending division, Lending Network, LLC. There are multiple types of consumer loans offered at Gustan Cho Associates: Consumer loans are a type of financial product that allows individuals…
The opportunity to close on a dream home can be fraught with obstacles. One of these obstacles may be when a homeowner finds their dream home but has not sold their current home due to scenarios outside their control. This is where residential bridge loans may allow the homeowner to purchase a new home. Residential…
This guide covers important tips for starting small businesses for entrepreneurs and getting financing with SBA Business Loans. Starting a business requires you to do a lot. You have to research, plan, get finances, and meet legal obligations. The first two years are the most risky and have the most dangers of failing when starting…
This blog will discuss and cover remote MLO career opportunities. Gustan Cho Associates, empowered by NEXA Mortgage LLC, hires remote loan officers. Remote MLO Career Opportunities are available for experienced full-time loan officers. Loan officers with the following qualify: At least one-year full-time experience Familiar with LOS Systems, whether Encompass, Lending Pad, Calyx Point, or…
Today’s blog is a follow-up to last week’s blog, Opportunities for First-time Homebuyers in 2023. If you did not have a chance to read last week’s blog, I would suggest you do so. It is a quick and informative read. I will discuss the benefits of FHA down payment assistance programs for anyone who is…
This guide covers all about equipment financing. If you run a small or medium-sized business, you know how important it is to have the right equipment for your operations. Whether you need machinery, vehicles, computers, or any other physical asset, equipment can help you increase efficiency, productivity, and profitability. But equipment can also be expensive…
This guide covers buying a house in states with best schools. We will discuss why these seven states we will be covering rank as the best for those buying a house in states with best schools. This guide was created due to the frequently asked question from our viewers over the past several months on…
This guide covers buying house in different state due to job transfer and nice weather—relocation for Employees that own a home and want to purchase a new home in a new location. Dale Elenteny, a senior mortgage loan advisor at Gustan Cho Associates, explains his thoughts about buying a house in different state due to…
This guide covers buying a house near the Great Lakes area. You can enjoy coming from city life to buying a house near the Great Lakes area. Transitioning to a new lifestyle of lakeside living in the Great Lakes area is anyone’s dream come true. Dale Elenteny, a senior loan officer at Gustan Cho Associates,…
This guide covers eliminating property taxes, such as how it works for a small town in Texas. Property taxes are how most communities pay for their schools, city services, police, fire, and other expenses. Lately, high property taxes have been a concern for many homeowners. Many cities with budget deficits raise property taxes to cover…
The dream of owning a home in 2023 is becoming a reality for many first-time homebuyers. Innovative programs and financial incentives, coming from several prominent lenders including UWM, EPM, and PennyMac among others are helping first-time homebuyers realize their dreams of owning a home in 2023. This summer 2023 is a great time to realize…
This guide covers buying a house in states with exceptional campgrounds. Are you tired of the hustle and bustle of city life? Do you dream of escaping to the tranquility and beauty of nature? Look no further! In this blog post, we will take you on a virtual journey through seven magnificent states that offer…
This guide covers Jumbo Loans Chapter 13 Bankruptcy Guidelines. Chapter 13 Bankruptcy Mortgage Guidelines allow borrowers to qualify for a mortgage during and after Chapter 13 Bankruptcy and after the discharge date. Under Chapter 13 Bankruptcy Mortgage Guidelines, borrowers can qualify for VA and FHA Loans during and after Chapter 13 Bankruptcy. The following paragraphs will…
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