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Breaking News: Lower FHA Mortgage Insurance Premiums in 2024—What It Means for Your Mortgage Are you thinking about buying a home or refinancing your current mortgage? If so, you’ve likely heard about FHA loans. These loans are popular because they allow lower down payments, making it easier for first-time buyers to own a home. But…
Just finished dealing with a Chapter 13 bankruptcy and thinking about getting a new house or refinancing the one you’ve got? Great news—you’re on the right track! A lot of folks might tell you that dreaming of a new mortgage is a no-go after bankruptcy, but that’s not the case. Believe it or not, owning…
For first-time homebuyers in Pennsylvania, homeownership has become more straightforward and achievable. A wide variety of financing options are available, significantly easing the financial burden often associated with buying a home. While the upfront costs of purchasing a house might seem daunting, the security of holding a mortgage makes it both affordable and feasible over…
Government and conventional loans require a mandatory waiting period after bankruptcy. Non-QM loans one day out of bankruptcy does not have waiting period requirements. However, a 30% down payment is required.
When you’re looking at buying a fixer-upper, you might come across the term 203k mortgage loans. If you want to buy a home that needs some TLC, the Federal Housing Administration offers great options. In this updated guide, we’ll break down the types of 203k mortgage loans. We will explain their benefits. And we will…
Want to know about Non-QM cash-out refinance mortgage? If you’re a homeowner who wants to use your home’s value to get some cash, or if your financial situation is a bit different, this guide is perfect for understanding all you need to know about Non-QM cash-out refinance mortgages in 2024. What is a Non-QM Cash-Out…
Today, an FHA cashout refinance mortgage loan can be a great option if you own a home and want to improve your financial situation. Let’s break down what this is all about, including its perks, who can get it, how to apply, the interest rates, the terms, and everything else you might want to…
A cash-out refinance mortgage allows homeowners to use the value they’ve built up in their house. It means getting a new mortgage bigger than the one you already have, and you get the extra money in cash. This guide will show you all you need to understand about cash-out refinance mortgages in 2024. You’ll learn…
The FHA Streamline Refinance Mortgage is an excellent choice for individuals who currently hold FHA loans and aim to reduce their monthly mortgage payments conveniently without dealing with extensive paperwork. This guide helps you understand this refinancing choice, including the benefits it offers, who can get it, how to apply, and how it compares to…
Are you looking for a big loan while running your own business? You’re in the right spot. Getting a big mortgage, called a jumbo mortgage, can be tough without regular paychecks like other workers get. Right after the 2008 Real Estate and Credit Meltdown, self-employed home buyers had a difficult time trying to qualify for…
Starting Mortgage Net Branches Starting a mortgage net branch is a great career step for loan officers who are already producing good results and want to take their career to the next level. A mortgage net branch is a smaller, separate office that’s part of a bigger mortgage company. This branch operates under the larger…
Buying a home represents a significant achievement in one’s life that many high school graduates might view as somewhat of an elusive dream, particularly given their limited work experience at this stage. However, armed with the right information and insightful guidance, even those freshly out of high school can skillfully navigate the mortgage process. This…
Comprehensive Guide to TSAHC DPA Mortgage Program for Texas Homebuyers Exciting news for everyone looking to buy a home in Texas! Gustan Cho Associates is thrilled to announce that we’re now part of the TSAHC DPA Mortgage program. For those who might not be familiar, TSAHC DPA Mortgage stands for Texas State Affordable Housing Corporation…
Is it possible to get a mortgage with a recent eviction? It’s a common worry – can someone get a mortgage if they’ve just faced eviction? If you’re in this boat, you’re definitely not sailing alone. At Gustan Cho Associates, it’s a question that often lands in our inbox. The uplifting news here is that,…
Looking for the best Minnesota mortgage lenders for bad credit might seem daunting, but it doesn’t have to be. If you’ve faced rejection because of a low credit score or are just starting to explore your mortgage options, this detailed guide is here to light the way. It’s designed to break down the process…
Comprehensive Mortgage Guides for Borrowers At Gustan Cho Associates, we get how tricky it can feel diving into the world of home loans. That’s why we’re all about offering easy-to-understand mortgage guides. Whether it’s your first home, a holiday home, an investment, or even a business property, our mortgage guides aim to clear up any…
Are you trying to buy a house but find out you have unpaid court fees on your credit? It feels like a stop sign, but there’s a way to go ahead. You can actually get a mortgage with outstanding judgments. This guide makes it simple to understand. We will cover the must-haves for your application,…
Understanding FHA 203k Rehab Loans After Bankruptcy Securing a home loan after experiencing bankruptcy can be challenging. Still, the FHA 203k Rehab Loan provides a viable path for home buyers looking to purchase and renovate a property. This type of loan is particularly beneficial for those who have faced financial hardships but are ready to…
An auto loan can be a deal killer when it comes to getting qualified for a mortgage. The average monthly auto loan on a new car is $500 per month. $500 per month is equivalent to a $100,000 mortgage payment.
Your All-Inclusive Manual to Getting a Mortgage with Poor Credit in Illinois. Do you fear poor credit could dash your hopes of homeownership in Illinois? Worry no more! This manual will provide a step-by-step approach to securing an Illinois mortgage, even if you have bad credit. We shall review your alternatives, ways to enhance your…
It is often a difficult task for many self-employed persons to acquire mortgage loans. Traditional mortgages usually require long paperwork, including tax returns, which may be a problem in cases of those who do not have the regular income verification. This is where No-Doc Mortgage Loans come in handy. These loans make it possible for…
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