The Five C's of Mortgage Underwriting
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The Five C’s of Mortgage Underwriting Leading To CTC

ByAlex Carlucci Posted on

This guide covers the five C’s of mortgage underwriting leading to clear-to-close. With mortgage loans, the risk analysis is critically important, so it is a good idea to review the file in detail before even submitting it. It is the responsibility of the mortgage underwriter to analyze the layered risk of the lender and the…

Fix Bad Credit To Qualify For a Home Mortgage
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How To Fix Bad Credit To Qualify For a Home Mortgage

ByGustan Cho Posted on

This guide covers how to fix bad credit to qualify for a mortgage. How to fix bad credit to qualify for a home mortgage for homebuyers and homeowners: Mortgage borrowers can have prior bad credit and qualify for a mortgage. This holds true as long as they have been timely for the past 12 months….

Denied For FHA Loan With Good Credit on Home Purchase
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Denied For FHA Loan With Good Credit on Home Purchase

ByAlex Carlucci Posted on

This guide covers the frequently asked question can I get denied for FHA loan with good credit on home purchase. You can qualify for an FHA loan with credit scores down to 500 but you will not get an FHA loan approval with a 700 credit score if you have late payments in the past…

Bankruptcy Dismissal Versus Bankruptcy Discharge
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Bankruptcy Dismissal Versus Discharge Mortgage Guidelines

ByGustan Cho Posted on

In this blog, we will cover and discuss the difference when qualifying for a mortgage after bankruptcy dismissal versus bankruptcy discharge mortgage guidelines. There are waiting period differences when qualifying for FHA loans after bankruptcy dismissal versus bankruptcy discharge. Bankruptcy, whether a dismissal or a discharge, can have significant implications for your mortgage and financial…

How Solid Is Your Pre-Approval For Home Purchase Mortgage
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How Solid Is Your Pre-Approval For Home Purchase Mortgage

ByGustan Cho Posted on

This guide covers how solid is your pre-approval for a home purchase mortgage. A mortgage pre-approval letter means that a loan applicant has submitted an initial mortgage loan application, called 1003, and the loan originator has run credit and fully qualified borrowers: The pre-approval letter is issued after the loan originator has reviewed the following:…

Government and Conventional Loans After Bankruptcy
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Government and Conventional Loans After Bankruptcy

ByAlex Carlucci Posted on

This guide covers government and conventional loans after bankruptcy and foreclosure. There are mandatory waiting period requirements on government and conventional loans after bankruptcy and foreclosure. Government loans are residential home loans insured by a government agency. The mandatory waiting period on government and conventional loans after bankruptcy and foreclosure depends on the individual loan…

Moving to New Home
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Qualifying For a Home Mortgage Moving To New Home

ByMike Gracz Posted on

This guide covers qualifying and getting approved for a home mortgage moving to new home. Moving to new home is a very exciting time for your family. As I take you on a daily journey of my life, and if you have been following along, you will know that I just moved into my current…

Mortgage For Second Primary Residence
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Mortgage For Second Primary Residence Lending Guidelines

ByJohn Strange Posted on

This guide covers mortgage for second primary residence lending guidelines. Many Americans have a current primary residence and are looking to purchase another home. There can countless reasons why homebuyers are buying and getting mortgage for second primary residence home. It can be due to needing more space due to a growing family. Many homeowners…

What Do Lenders Look in Bank Statements
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What Do Lenders Look in Bank Statements in Mortgage Process

ByGustan Cho Posted on

This guide covers what do lenders look in bank statements during the mortgage process. Every mortgage lenders require borrowers to provide 60 days of bank statements as part of the start of mortgage process. Lenders typically review bank statements as part of their due diligence when assessing a borrower’s creditworthiness. When examining bank statements, lenders are…

Closing Mortgage on Time
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Closing Mortgage on Time Without Delays

ByAlex Carlucci Posted on

This guide covers closing mortgage on time without stress during the mortgage process. All mortgage loans should not be delayed and close on time. However, this is often not the case. In this article, we will cover how mortgage loans should close on time. We will cover how loan officers should avoid closing delays. Following…

FHA Versus Conventional Mortgage After Bankruptcy
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FHA Versus Conventional Mortgage After Bankruptcy

ByEric Jeanette Posted on

This  guide cover FHA versus conventional mortgage after bankruptcy. There are differences in  when and how you can qualify for FHA versus conventional mortgage after bankruptcy. You can qualify earlier on FHA loans because the waiting period requirements on FHA versus Conventional mortgage after bankruptcy is shorter. The waiting period on FHA versus Conventional mortgage…

How Long is a Pre-Approval Valid
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How Long is a Pre-Approval Valid When Shopping For a Home

ByGustan Cho Posted on

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…

Credit Tradelines NOT Reporting To Credit Bureaus
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Home Loan With No Credit Tradelines Mortgage Guidelines

ByGustan Cho Posted on

This guide covers qualifying for a home loan with no credit tradelines mortgage guidelines. The team at Gustan Cho Associates often gets frequently asked questions on how to qualify for a home loan with no credit tradelines. Credit tradelines are active and open credit accounts such as credit card accounts, automobile loans, installment loans, leases, and…

Choosing A Loan Officer
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Choosing a Loan Officer With No Mortgage Lender Overlays

ByJohn Strange Posted on

This guide covers choosing a loan officer with no mortgage lender overlays. This guide will discuss watching out for these seven red flags when choosing a loan officer. Buying a home could be stressful if you choose an inexperienced loan officer. There should not be stress during the mortgage process.  Stress in the mortgage approval…

Paying Down Credit Card Balances
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Paying Down Credit Card Balances To Boost Credit Scores

ByGustan Cho Posted on

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…

FICO and VantageScore
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Difference Between FICO and VantageScore Credit Scores

ByAnngelli Abenes Posted on

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…

Lowest Credit Score Allowed For Mortgage Approvals depends on the individual loan program
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Lowest Credit Score Allowed For Mortgage Approvals

ByGustan Cho Posted on

This guide covers what is the lowest credit score allowed for mortgage approvals. The team at Gustan Cho Associates gets countless daily calls from our viewers about what is the lowest credit score allowed for mortgage approvals. Many borrowers often get confused about why lenders have different credit score requirements on FHA, VA, USDA, and…

Types of Mortgage Lenders For Best Rates and Loan Options
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Types of Mortgage Lenders For Best Rates and Loan Options

ByMike Gracz Posted on

Gustan Cho Associates has over 160 wholesale lending partnerships. Gustan Cho Associates has a national reputation for its no lender overlays on government and conventional loans. We have a reputation for being able to do loans other lenders cannot do. Gustan Cho Associates are mortgage brokers licensed in 48 states including Washington, DC, and Puerto…