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Save Over $10K Using a Mortgage Calculator in New Mexico in 2025 Are you dreaming of owning your first home in New Mexico but worried about the cost? A mortgage calculator in New Mexico can be your best friend. It’s not just a simple tool; it’s a game-changer that helps first-time homebuyers make smart decisions,…
In this blog, we will cover and discuss IHDA mortgage guidelines on Illinois home purchases. The Illinois Housing Development Authority (IHDA), commonly referred to as IHDA, is a down payment assistance mortgage program for homebuyers in Illinois. IHDA mortgage guidelines make homeownership possible for homebuyers in Illinois by covering the down payment and closing costs…
In this blog, we will discuss and cover FHA loans for bad credit mortgage loan options. Homebuyers can qualify for FHA loans for bad credit and low credit scores on home purchase and refinance transactions. FHA loans are government-backed mortgage loans that are originated, processed, underwritten, and funded by banks and private mortgage lenders. HUD…
Mortgage Guidelines 101: A Complete Guide for Borrowers and Loan Officers Welcome to Mortgage Guidelines 101, the ultimate guide for borrowers and new loan officers! At Gustan Cho Associates, we understand that the mortgage process can feel overwhelming. Whether you’re a first-time homebuyer or a new loan officer eager to master the basics, this blog…
This guide covers the ill-fated HUD’s FHA Back to Work Mortgage. The FHA Back to Work Mortgage no longer exists. This guide is a follow-up of an older HUD FHA Back to Work mortgage published on February 21st, 2018. The FHA Back to Work mortgage was a total disaster since the day it was launched….
Understanding QM-Qualified Mortgages: What Borrowers Need to Know in 2025 If you’re thinking about buying a home or refinancing, chances are you’ve heard about QM-qualified mortgages. But what exactly does it mean, and why does it matter to you as a borrower? This blog will briefly summarize everything you need to know about QM-qualified mortgages….
Jumbo Mortgage Options: Traditional and Non-Prime Solutions for 2025 At Gustan Cho Associates, we specialize in helping high-end homebuyers qualify for jumbo mortgages, offering a wide range of traditional and non-prime jumbo mortgage options. If you’re self-employed, have a lower credit score, or require a specialized loan option, rest assured we offer solutions designed specifically…
Conventional Loan After Short Sale: Your Guide to Getting Back on Track Life can throw curveballs, and for many homeowners, a short sale may have been the best solution to a tough financial situation. If you’re looking to move forward and buy a home again, a conventional loan after short sale could be your ticket…
Home Loan After Second Mortgage Charge Off: Your Complete Guide to Getting Approved Qualifying for a home loan after a second mortgage charge off might feel like an uphill battle, but it’s possible! At Gustan Cho Associates, we specialize in helping borrowers overcome unique challenges, like charge-offs, to achieve their homeownership dreams. In this guide,…
In this guide, we will cover TBD Property Mortgage Pre-Approvals. We will also discuss the ill-fated HUD FHA Back to Work program, of which not too many, if any, closed. The United States Department of Housing and Urban Development, also known as HUD, launched an all-new one-year waiting period after bankruptcy, foreclosure, deed in lieu…
Manufactured Home Construction to Permanent Mortgages: A Simple Guide to Financing Your Dream Home Manufactured homes are quickly becoming the top choice for countless Americans who want to own a stunning, budget-friendly home without the overwhelming costs associated with traditional stick-built houses. With advanced technology paving the way, these homes are not just cost-effective but…
Unlock Your American Dream with Expatriate Mortgage Loans from Gustan Cho Associates Are you dreaming of owning a piece of the American Dream? No matter where you’re from, purchasing property in the United States can be within your reach with expatriate mortgage loans. At Gustan Cho Associates, powered by NEXA Mortgage, LLC and licensed across…
Understanding Hard Pull Credit Inquiries: Your Guide to Smarter Credit Decisions When you’re considering buying a home, every step you take towards securing your mortgage matters—especially when understanding hard pull credit inquiries. This detailed guide will help you understand hard pull credit inquiries, their impact on your credit score, and how to manage them while…
Understanding Balloon Mortgages: A Strategic Guide for 2024 In this article, we will discuss and cover balloon mortgages and how they work. Balloon mortgages are short-term loans with fixed monthly payments, usually based on a 30-year fully amortizing schedule. Balloon loans are for commercial loans only and do not apply to residential mortgages. After the…
This blog on mortgage guidelines on foreclosure and bankruptcy was updated on January 3rd, 2025. If a mortgage loan borrower had a prior bankruptcy, there is a 2-year waiting period from the date of the bankruptcy discharge before a home buyer has to wait to qualify for FHA and VA Loans If you have foreclosure…
NON-QM Versus Traditional Mortgage: Which is Right for You? Finding your way through the complex array of mortgage choices can seem daunting. As we move into 2024, the world of finance is changing quickly, and it’s important to know the key differences between non-QM versus traditional mortgages. If you are thinking about buying a home…
What Is an 80-10-10 or Piggyback Mortgage? Buying a home can be one of life’s most exciting yet challenging journeys. Given the ongoing rise in home prices and the tightening of lending standards, many potential buyers face difficulties securing conventional mortgage loans. That’s where the 80-10-10 or piggyback mortgage comes in as a creative financing…
This guide covers how skyrocketing interest rates affect housing prices going into 2025. When it comes to the current housing market, no one can, without absolute certainty, predict the values of homes. In many parts of the country such as many parts of California and Florida, home prices are skyrocketing, and homes are selling the…
HARP Mortgage Loans was launched and created due to the 2008 financial crisis. Millions of homeowners bailed where they just turned in their keys to their mortgage lenders.
This guide covers what is TRID and how TRID changed the mortgage industry. What Is TRID? Many consumers still ask What Is TRID and are not quite clear with this four letter word. In order to make loan disclosures simpler and more easy to understand, the Dodd-Frank Act directed the Consumer Financial Protection Bureau (CFPB)…
This guide covers horrible bosses to work for at mortgage companies. Being that I have now had 8 jobs in my fairly young career, I have run into some pretty awful bosses. I do my best not to take these situations too seriously, because at the end of the day it is just that, a…
Qualifying for a Home Loan with Recent Late Payments in 2024 Are you struggling with recent late payments but still dreaming of owning a home? Don’t worry—you’re not alone. At Gustan Cho Associates, we specialize in helping borrowers navigate tricky credit situations, including getting a home loan with recent late payments. While late payments can…
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