Mortgage Guide For Realtors

Mortgage Guide For Realtors Written By Gustan Cho NMLS 873293

Home Buyers rely on their real estate agents for advice and one of the most important role of a realtor is to give their home buyers a referral on a loan officer. Giving the wrong loan officer referral partner as a real estate agent can be damaging to their reputation and can possible cost them a closing. Just being able to work with a loan officer is not enough. The loan officer needs to be able to perform and not just be able to close the home loan but needs to close the home loan on time. This mortgage guide for realtors was created to educate real estate professionals on the basics of mortgage lending and that not all mortgage borrowers can qualify with a particular lender. Most mortgage lenders have lender overlays, which are additional lending requirements that is imposed by the lender that is above and beyond the minimum mortgage lending guidelines of HUD, VA, USDA, FANNIE MAE/FREDDIE MAC. Not all home buyers have 800 FICO credit scores, 40% debt to income ratios, and perfect payment history. Most home buyers do have credit and income flaws and choosing the right lender is key. Just because a borrower may meet FHA Guidelines or Fannie/Freddie Guidelines does not mean that they can qualify for a FHA Loan or Conventional Loan with a particular lender. The good news is that there are mortgage lenders like The Gustan Cho Team @ The Money Store that as long as you meet the bare minimum FHA Guidelines and/or Conventional Loan Guidelines, that the loan can be done and closed.

The Gustan Cho Team @ The Money Store NMLS 1191430 represents MLD MORTGAGE INC dba THE MONEY STORE NMLS 1019, a national full eagle mortgage banking firm headquartered in Florham Park, New Jersey and licensed in 46 states. The Money Store has a national reputation for having little to no lender overlays on FHA, VA, USDA, and FANNIE/FREDDIE mortgage loans.

Who Comes To Us?

Over 70% of our borrowers are folks who either have been denied at the last minute or could not qualify for a mortgage loan with another lender either because of that lender overlays and/or because the loan officer did not properly pre-approve the borrower. A substantial percentage of our business are from hard working professional realtors who call us on their client’s behalf due to the major hurdles their home buyer is dealing with their current mortgage lender. Since The Gustan Cho Team @ The Money Store gets countless of daily calls from both home buyers and realtors, we have decided to create this Mortgage Guide For Realtors, which is a comprehensive easy to understand guide on the basics in qualifying for a mortgage loan. All of the information listed on this mortgage guide are facts and if you meet the mortgage guidelines listed on this mortgage guide for realtors, you can get approved for a mortgage loan with The Gustan Cho Team @ The Money Store.

Here Are Some Of The Most Common Case Scenarios Of Borrowers Who Come To Us:

  1. Borrower went to their local bank and were told that they do not qualify for a FHA Loan because they do not have a 640 FICO credit score.
  2. Borrower went to their local bank and were told that they do not qualify for a FHA Loan because their DTI is over 45% DTI.
  3. Borrower went to their local bank and were told they do not qualify for a FHA Loan because they have outstanding collection accounts and were told that they need to not just have them paid off but need to have all collections accounts that were paid off be seasoned for at least 2 years.
  4. Borrower went to their local bank and were told that they do not qualify for a mortgage loan because they had one late payment in the past 12 months.
  5. Borrower went to their local bank and were told that they do not qualify for a mortgage loan because they had overdraft in the past 12 months?
  6. Borrower went to their local bank and were told that they do not qualify for a loan because they had lates after bankruptcy and foreclosure.
  7. Borrower went to their local bank and were told they do not qualify for a loan because they had gaps in employment in past 2 years.
  8. Borrower went to their local bank and were told they do not qualify for a mortgage they just had a Chapter 13 Bankruptcy discharge.
  9. Borrower went to their local bank and were told they do not qualify for a mortgage because they had a loan modification.

Solutions To The Above Case Scenarios With The Gustan Cho Team @ The Money Store:

  1. Minimum credit scores to qualify for FHA Loan with us is 580 FICO.
  2. Maximum debt to income ratio cap with us is 56.9% DTI if your credit scores are at least 620 FICO. If under 620 FICO, then DTI cap is 43%.
  3. Outstanding collection accounts and charge off accounts do not have to be paid. FHA exempts medical collections and charge off accounts from DTI calculations. However, 5% of the oustanding balance on non-medical collection accounts will be used as a borrower’s monthly debt in the calculations of the borrower’s debt to income ratios even though nothing needs to be paid to the creditor.
  4. Late payments in the past 12 months or after bankruptcy and/or foreclosure is allowed if you get an approve/eligible per Automated Underwriting System. Manual Underwriting is available if you get referred/eligible per AUS.
  5. Overdrafts are allowed if a good letter of explanation and are not deal killers like other lenders.
  6. Late payments in the past 12 months and late payments after bankruptcy and/or foreclosure is permitted as long as it passes automated underwriting system.
  7. Gaps in employment is not a problem in the past 24 months. If the gap in employment is less than six months, then 30 days of paycheck stubs is required from current employer to close on home loan. If borrower has had longer than 6 months with gap of employment, then six months seasoning on new job is required.
  8. Borrowers can qualify for a FHA Loan after one year into a Chapter 13 Bankruptcy Repayment plan with the approval of the Chapter 13 Bankruptcy trustee. There is no waiting period after a Chapter 13 Bankruptcy discharged date but needs to be manual underwrite if borrower does not have two years seasoning after Chapter 13 Bankruptcy discharge. Most mortgage lenders will require a two year waiting period after a Chapter 13 Bankruptcy discharge but MLD MORTGAGE INC dba THE MONEY STORE does not have any waiting period after Chapter 13 Bankruptcy discharged date.
  9. There is a one year waiting period to qualify for a FHA Loan after a loan modification  .

Services Provided By The Gustan Cho Team @ The Money Store

The Gustan Cho Team @ The Money Store has its own marketing department headed by Peter Bieda, Area Marketing & IT Manager at The Money Store, to offer full marketing support to all preferred realtor partners and co-brand our dual relationship. Under the direction of Peter Bieda and his marketing staff, The Gustan Cho Team @ The Money Store will offer website design services, SEO services, mailers, email marketing campaigns, webinars, and training materials and meetings on mortgage loan products that is offered by The Money Store. Over 70% of the borrowers of The Gustan Cho Team are folks who either got a last minute mortgage loan denial by other lenders or could not qualify at other lenders due to their lender overlays. This Mortgage Guide on Realtors Marketing Package For Home Buyers was created for real estate professionals as a resource informational guide so real estate agents can educate themselves on the latest mortgage guidelines. Gustan Cho and his associates offer the following services to our preferred realtor partners nationwide:

  1. We are available 7 days a week, evening, and holidays and all calls are returned promptly. Call or text Gustan Cho at 262-716-8151 or email us at gcho@gustancho.com
  2. Mortgage borrowers can apply online, 24/7 by going to www.gustancho.com and clicking the APPLY NOW icon on top right category section.  Pre-approvals are issued 7 days per week.
  3. Once mortgage borrower applies online, I run credit check and can submit credit profile to our Automated Underwriting System for an automated Fannie Mae approval.
  4. Pre-Approval process is very thorough and all pre-approvals will close.
  5. 70% of our borrowers are folks who gotten last minute mortgage loan denials due to the lender overlays or due to not being pre-approved correctly by previous lenders. We close 100% of all of our pre-approvals.

Mortgage Loan Programs For Realtor’s Clients

There are various mortgage loan programs for home buyers. Just because a mortgage lender is a FHA Lender does not mean that they all have the same FHA Loan Requirements. A FHA borrower who does not qualify with one FHA Lender does not mean that they cannot qualify with another lender. The Gustan Cho Team @ The Money Store is unique compared to other mortgage lenders due to the fact MLD MORTGAGE dba THE MONEY STORE does not have any FHA Lender Overlays and will go off just the automated findings of the Automated Underwriting System, or AUS. As long as the borrower has an approve/eligible per AUS FINDINGS and the borrower can meet all the conditions of the automated findings, the borrower can rest assured that their FHA Loan will close. FHA Lender Overlays are additional requirements that are set by each individual FHA Lender that are in addition to the minimum FHA Guidelines that are set by HUD 4000.1 FHA Handbook . For example, FHA requires a minimum credit score of 580 FICO for a home buyer to qualify for a 3.5% down payment FHA home purchase mortgage loan. However, a home buyer with a 580 FICO credit score who goes to their local bank to apply for a FHA Loan and get a pre-approval letter will get turned down by the bank because they do not meet the bank’s minimum credit score requirement of 640 FICO. Most banks do not accept anyone to qualify for a FHA Loan who does not have a 640 FICO credit score even though the borrower meets the minimum 580 FICO credit score required by FHA. This is because the bank has their own FHA requirements on credit scores, which is called a FHA Lender Overlay On Credit Scores, and does not have to abide by the minimum requirements that HUD has set. Same with collection accounts and charge off accounts. FHA does not require FHA borrowers to pay off outstanding collection accounts and/or charge off accounts, however, most banks and mortgage companies may require that the borrower pay off all of their collection accounts and/or charge off accounts or some may have a maximum collection account limit in order for them to qualify with their lending institution. MLD MORTGAGE dba THE MONEY STORE does not have any mortgage lender overlays on FHA Loans and this is why The Gustan Cho Team @ The Money Store has a national reputation on being the number one FHA Lender with no FHA Lender Overlays .

FHA Loans With No Lender Overlays Offered By The Gustan Cho Team @ The Money Store

What Are FHA Lender Overlays?

Most banks and mortgage lenders will have FHA Lender Overlays on FHA Loans they offer. A lender overlay is when a particular mortgage lender will have additional standards and requirements that are above and beyond the minimum FHA Guidelines . The best way to explain what a lender overlay is will be by taking a case scenario example. FHA requires that the minimum credit score required to qualify for a 3.5% down payment FHA Loan is 580 FICO credit score. However, if you have a 580 credit score and were to go to any local bank and ask to get pre-approved for a FHA Loan, the loan officer will tell you that you do not qualify for a FHA Loan because your credit score is not 640 FICO. Why can you not qualify for a FHA Loan at Bank of America or Chase Bank with a 580 FICO credit score when FHA says you meet the minimum credit score requirement and why is Bank of American and Chase Bank requiring a 640 FICO credit score and denying you from getting a FHA Loan? The reason is because Bank of America and Chase Bank has their own FHA requirement on credit scores which is higher than the minimum required by these banks and these additional requirements is called FHA Lender Overlays on credit scores. This is perfectly legal and a lender does not have to honor the minimum requirements imposed by FHA and can request higher standards and requirements than those set by FHA.

Other common case scenarios of FHA Lender Overlays are overlays on collection accounts and charge offs. FHA does not require you to pay off outstanding collections and charge off accounts for you to qualify for a FHA Loan. However, most banks and lenders will require you to pay off outstanding collection accounts and charge off accounts and some may even require you to have the paid off collection accounts and charge off accounts be seasoned for at least two years before they will approve you for a FHA Loan.

Debt to income ratio overlays are very common by most banks and mortgage lenders. FHA allows up to a 56.9% DTI on borrowers who have at least a 620 FICO credit score. However, most banks and lenders will cap the debt to income ratios at 45% DTI. Some lenders may let you go up to 50% DTI.

The Gustan Cho Team @ The Money Store do not have any FHA Lender Overlays . As long as a FHA borrower meets the minimum FHA Loan Requirements and can get an approve/eligible per Automated Underwriting System and the borrower can meet the conditions on the automated approval, the loan will close.

Here Are The Minimum FHA Loan Requirements:

  1. 3.5% down payment on FHA loans over 580 FICO credit scores with no lender overlays.
  2. Debt to income ratios up to 56.9% DTI for borrowers with at least a 620 FICO credit score.  Borrowers with under 620 FICO credit scores debt to income ratios are capped at 43% DTI. Non -occupied co-borrowers are allowed on FHA Loans. Non-occupant co-borrowers need to be related to borrowers by law, blood, marriage.
  3.  Up to 6% sellers concession allowed. Sellers concessions can be used to cover all closing costs which includes pre-paids ( two month’s escrow for homeowners insurance and property taxes ), one year homeowners insurance premium, title charges, recording fees, points to buy down rate, upfront FHA mortgage insurance premium, appraisal fees, home inspection fees, attorney fees, origination fees, and other fees and costs associated with the closing of the home purchase and/or refinance mortgage.
  4. FHA does not require that FHA borrowers to pay off outstanding collection accounts and/or charge off accounts. Medical collection accounts and charge off accounts are exempt from debt to income calculations. Non-medical collection accounts does count in calculations of debt to income ratios only if the total sum of all the outstanding unpaid non-medical collection accounts is greater than $2,000. If the total sum of the outstanding unpaid collection account balance is greater than $2,000, then FHA requires that 5% of the unpaid outstanding non-medical collection account balance be taken into account as the borrower’s monthly debt and be used in the calculations of the borrower’s debt to income ratios even though the borrower does not have to pay for it.
  5. FHA borrowers can qualify for FHA Loans with outstanding judgments and tax liens only if the judgment and/or tax lien will be paid off in full prior to and/or at closing. If the borrower cannot pay off the judgment and/or tax lien in full, FHA will allow for the borrower to enter into a written payment agreement and as long as the borrower has made at least three monthly payments which is agreed upon the written payment agreement, the borrower can qualify. The borrower needs to have made at least three months of payments and provide proof of three month’s canceled checks and/or bank statements. A borrower cannot enter into a written payment agreement and pay the three months of payments upfront. They need to wait thirty days between each payment.
  6. 100% gifted funds are allowed by family members to be used for the down payment of the borrower’s home purchase, however, the donor of the gift funds must sign and attest that the gift funds is solely a gift and not a loan. The donor needs to provide 30 days bank statements showing that the gift funds has been seasoned and the funds leaving the donor’s account into the home buyer’s bank account needs to be provided.
  7. FHA LOAN AFTER LOAN MODIFICATION: Home Buyers can qualify for a FHA Loan one year after a Loan Modification. No late payments are permitted after a loan modification.
  8. You can purchase a one to four unit property with a FHA Loan with 3.5% down payment. Two to Four unit properties can be purchased with a FHA Loan and 3.5% down payment is required and 85% of the potential rental can be used on the rental units as long as the appraisal can note the potential market rental value on the appraisal. The potential rental income can be used as qualified income in calculating the borrowers debt to income ratios to qualify for a 2 to 4 unit property.

FHA Loans After Bankruptcy And Foreclosure

Home Buyers can now qualify for a FHA Loan after bankruptcy and foreclosure after mandatory waiting periods. Here are the requirements to qualify for a FHA Loan after a bankruptcy, foreclosure, deed in lieu of foreclosure, and/or short sale:

  1. Two year waiting period to qualify for a FHA Loan after a Chapter 7 Bankruptcy discharged date.
  2. A home buyer can qualify for a FHA Loan one year into a Chapter 13 Bankruptcy Repayment Plan with the approval of the Chapter 13 Bankruptcy Trustee and as long as they can provide 12 months of timely payment on all of their bills and repayment to their creditors.
  3. There is no waiting period to qualify for a FHA Loan after a Chapter 7 Bankruptcy discharged date. However, if the Chapter 13 Bankruptcy has been discharged for less than two years, it needs to be downgraded to a manual underwrite and all manual underwrites require rental verification . Rental Verification, also called Verification Of Rent or VOR, is when the renter can provide 12 months timely payment to their landlord with either canceled checks and/or bank statements. If a renter has rented their apartment or home from a registered property management company, then a VOR completed and signed by the property management company manager stating that the renter has paid their rental payments on time for the past 12 months, then the 12 months canceled checks and/or bank statement requirement is waived.
  4. There is a three year waiting period to qualify for a FHA Loan after the recorded date of a foreclosure and/or deed of foreclosure: The waiting period start date does not begin until the date of the sheriff’s sale and/or the date that the deed of the property has been transferred out of the name of the homeowner into the name of the lender and/or someone else’s name.
  5. There is a three year mandatory waiting period to qualify for a FHA Loan after a short sale. The three year waiting period starts from the date of the short sale that is reflected on the HUD-1 Settlement Statement.
  6. There is no mandatory waiting period to qualify for a FHA Loan after a short sale if the FHA borrower was timely on all of his or her mortgage payments up to date of the short sale. This type of case scenario is rare because most banks and lenders will require that the homeowner be late on their mortgage payment before they will approve a short sale. I have seen a few cases where a homeowner who had a short sale was current and up to date with their mortgage payment up to the date of their short sale and those folks did not have a mandatory waiting period to qualify for a FHA Loan after their short sale.

Qualifying For FHA Loan If You Have Mortgage Part Of Bankruptcy

Many folks who had a Chapter 7 Bankruptcy have included their mortgage as part of their Chapter 7 Bankruptcy. There are mandatory waiting periods after both the Bankruptcy and Foreclosure to qualify for a FHA Loan. If you had a mortgage as part of your Chapter 7 Bankruptcy, there is a three year mandatory waiting period from the recorded date of your foreclosure to qualify for a FHA Loan. When someone files Chapter 7 Bankruptcy and has their home loan as part of their Chapter 7 Bankruptcy, their mortgage balance is discharged and they are no longer liable for their mortgage debt. However, the lender of the mortgage loan still needs to foreclose and that takes time after the discharge date of the Chapter 7 Bankruptcy. The three year waiting period does not begin until the deed of the property has been transferred out of the name of the mortgage note holder whether it was through as sheriff’s sale, short sale, or regular foreclosure. This is not the case with Conventional Loans where there is a four year waiting period to qualify for a Conventional Loan from the discharged date of your Chapter 7 Bankruptcy if you have a mortgage part of your Chapter 7 Bankruptcy, even if the foreclosure was not recorded until at a much later date. We will cover this topic more in depth when I discuss Conventional Mortgage Requirements.

Conventional Loan Programs At MLD MORTGAGE dba THE MONEY STORE

Fannie Mae and Freddie Mac are the two mortgage giants in the United States that set the mortgage lending guidelines for Conventional Loans. Conventional Loans are different than FHA Loans because they are not insured by any government entities such as FHA, VA, USDA against the mortgage borrower defaulting on their home loans. Conventional Loans are also called Conforming Loans because they need to conform to Fannie Mae and/or Freddie Mac lending requirements. Mortgage lenders who originate and fund Conventional Loans needs to make sure that all Conventional Loans they originate, process, underwrite, and fund conform to Fannie Mae/Freddie Mac standards because if they do not, they cannot sell the Conventional Loan to Fannie/Freddie and will be stuck holding the loan in house, which mortgage lenders do not want to do. Conventional Loans require private mortgage insurance on all Conventional borrowers who have less than 20% down payment. Conventional Loans have much higher standards than FHA Loans with regards to credit score requirements, debt to income ratio standards, and waiting periods after bankruptcy and foreclosure. The Money Store is a national mortgage banking firm that has a national reputation in originating and funding Conventional mortgage loans with no lender overlays. As long as a borrower can get an approve/eligible per Automated Underwriting System, MLD MORTGAGE INC dba THE MONEY STORE will close the loan as long as the borrower can meet the conditions from the automated findings.

Conventional Loan Requirements

There are times where a home buyer needs to go with a Conventional Loan instead of a FHA Loan. Second homes, investment homes, and Condos that are not FHA approved can only be financed with Conventional Loans. Here are the Conventional Loan Matrix at The Gustan Cho Team @ The Money Store:

  1. Minimum credit score requirements to get an approve/eligible per automated findings on Conventional Loans is 620 FICO.
  2. There are 3% down payment and 5% down payment Conventional Loan Programs for owner occupant primary home buyers.
  3. Sellers can contribute up to 3% sellers concession for a primary owner occupant and second home Conventional Loan home buyer and 2% sellers concession for an investment home Conventional Loan home buyer.
  4. Minimum down payment requirements for second home financing with a Conventional Loan is 10% down payment.
  5. Investment homes require 20% down payment. 15% down payment is allowed on investment property Conventional Loan financing on a single family home. 2 to 4 unit properties require larger down payments and reserves. Contact Gustan Cho at 262-716-8151 or email at gcho@gustancho.com for more details.
  6. Mortgage borrowers who had a Chapter 7 Bankruptcy can qualify for a Conventional Loan four years after a Chapter 7 Bankruptcy discharged date.
  7. There is a two year waiting period to qualify for a Conventional Loan after a Chapter 13 Bankruptcy discharged date.
  8. There is a four year waiting period to qualify for a Conventional Loan after a short sale and/or deed in lieu of foreclosure. The waiting period start clock begins from the date of the short sale which is reflected on the HUD Settlement Statement. The waiting period start clock starts from the recorded date of the deed in lieu of foreclosure and not the day the homeowner has turned their keys in to the bank.
  9. There is a seven year waiting period after a foreclosure to qualify for a Conventional Loan. The seven year start clock begins from the recorded date of foreclosure.
  10. The maximum debt to income ratio allowed to get an approve/eligible per automated underwriting system approval is 45% DTI.
  11. There is a four year waiting period to qualify for a Conventional Loan after a loan modification.
  12. If you are purchasing a two unit owner occupant property with a Conventional Loan, 15% down payment is required and 75% of the potential rental income of the non-occupying unit can be used as qualified income and be used to off set the borrower’s debt to income ratios.

Mortgage Part Of Bankruptcy: Conventional Loans

There are times where a borrower will qualify for a Conventional Loan but not for a FHA Loan. This is the case where if a mortgage borrower had a prior Chapter 7 Bankruptcy and had a mortgage as part of their Chapter 7 Bankruptcy  , the waiting period to qualify for a Conventional Loan is four years from the discharged date of their Chapter 7 Bankruptcy even though their foreclosure was recorded at a later date. To qualify for a FHA Loan when you have a mortgage part of your Chapter 7 Bankruptcy, there is a three year waiting period from the recorded date of your foreclosure whereas with a Conventional Loan, the foreclosure recorded date does not matter and all you need to do is pass a four year waiting period after the discharged date of your Chapter 7 Bankruptcy. The foreclosure can be recorded four years after the discharge date of your bankruptcy and you would still qualify as long as the four year waiting period has passed from the discharged date of your Chapter 7 Bankruptcy.

HomePath Loans

2015 UPDATE ON HOMEPATH MORTGAGE LOANS:  Fannie Mae has discontinued the HomePath Mortgage Loan Program in 2014.  HomePath homes are still available, however, the HomePath Loan Program has been discontinued. Both the regular HomePath Loan Program and the HomePath Renovation Mortgage Loan Program has been discontinued.  If you need an acquisition and renovation loan, the FHA 203k Loan Program is the mortgage loan program that is most popular today.

VA Loans

VA Loans is the best mortgage loan program available today, however, VA Loans is only limited to home buyers who are veterans of the U.S. Armed Services with a Certificate Of Eligibility, COE. VA Loans do not require any down payment, no annual mortgage insurance premium required, and mortgage rates on VA Loans are one of the lowest out of all mortgage loan programs. The Gustan Cho Team @ The Money Store are VA approved lenders with no lender overlays and as long as you can get an approve/eligible per AUS FINDINGS, we can close on your VA LOAN.

  1. 100% financing with no down payment required. VA Funding Fee can be rolled into the VA Loan.
  2. 580 FICO minimum credit scores.
  3. VA borrowers can qualify for a VA Loan with outstanding collections, charge offs, late payments, and other prior credit bad credit.
  4. 2 year waiting period after bankruptcy, foreclosure, deed in lieu of foreclosure, and short sale.
  5. 100% LTV cash out refinance.

FHA 203K Rehab Loans

The Gustan Cho Team @ The Money Store offers FHA 203k Rehab Loans which are an acquisition and construction loan all in one loan program and one closing. FHA 203k Loans are an excellent loan program for home buyers who want to purchase fixer uppers or want to purchase a home a do a total gut rehab and major room additions. FHA 203k Loans only require 3.5% down payment of the after improved value and there is no construction limit as long as the property appraises out after the improvement have been made. There are two types of FHA 203k Loans:

  1. FHA 203k Streamline Loans: The maximum construction limit with a FHA 203k Streamline Loan is $35,000 and there cannot be any structural changes or alterations such as room additions. You can do any type of remodeling such as basement, attic remodeling, new siding, new windows, new roof, new millwork, kitchens, bathrooms, flooring, appliances, and other remodeling projects. You cannot do any luxury add ons such as outdoor kitchens, swimming pools, and tennis courts.
  2. Full Standard FHA 203k Loans: There is no construction budget caps with a Full Standard FHA 203k Loan and you can do structural changes and do room additions too. The maximum loan amount will be the maximum loan limit per county limits.

Other Loan Programs

MLD MORTGAGE INC dba THE MONEY STORE offers USDA Loans and Jumbo Mortgages. Please contact us for more information on USDA Loans and Jumbo Mortgages. The Gustan Cho Team @ The Money Store offers other non-traditional mortgage loan program but these non-conforming niche loan programs change from time to time. Contact our offices at 800-900-8569 or email us at gcho@gustancho.com if you are interested in a niche loan product or are interested in a particular home buyer assistance program in a particular county and/or state.

In Conclusion To Our Preferred Realtor Partners

I have been in the real estate business for over 25 years as a real estate developer and investor and have been on both ends of ending, as a borrower and loan originator.  I have owned, managed, and operated over 3,000 residential units at the same time and have purchased and sold hundreds of single family homes throughout my real estate career.  I have dealt with hundreds of mortgage lenders and know what it feels to be on the other side as a client.  Past bad experiences I have had as a mortgage loan client include getting false promises, getting shuffled to assistants, not getting my deals closed on time, not getting return phone calls, and not being able to get a hold of my loan officer after hours and weekends.  The mortgage business is undergoing many changes with new rules and regulations and it is hard work and many parts of the mortgage business does not make sense and often confusing.  The business really stinks but the rewarding part of this business is helping those borrowers that really need help.  I promise you that my staff and I will always be available and will do our very best not to disappoint you in any manner or form and make you look like a rock star  with your clients.

The Gustan Cho Team @ The Money Store also has a full service SEO/MARKETING/IT Department headed by Area SEO/MARKETING Manager Peter Bieda. We are always looking to partner and co-brand with realtor partners. If you are a realtor whose mission is to help home buyers and are looking to working with us to make the dream of home ownership a reality to home buyers, please contact us so we can start working together. You can contact Peter Bieda at 773-732-5773 or email Pete at pbieda@.

Thank you for the opportunity to take the time to read this mortgage guide for realtors and the services and loan products The Gustan Cho Team @ The Money Store has to offer and hope we can work together for many years to come.  Visit us at www.gustancho.com . Contact me at 262-716-8151 or email us at gcho@gustancho.com.  You can also visit us and subscribe to our daily free newsletter at www.gustancho.com .

Respectfully,

Gustan Cho NMLS ID # 873293

The Gustan Cho Team @ The Money Store NMLS 1191430

1500 Ravinia Place 2nd Floor: Orland Park, Illinois 60462

Corporate NMLS 1019: MLD MORTGAGE INC. DBA THE MONEY STORE 

Related> Benefits Of Hiring A Real Estate Agent

Related> Benefits Of Hiring A Realtor

Related> First Time Home Buyer Advice

The information contained on Gustan Cho Associates website is for informational purposes only and is not an advertisement for products offered by The Gustan Cho Team @ Gustan Cho Associates or its affiliates. The views and opinions expressed herein are those of the author and/or guest writers of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website and do not reflect the policy of Gustan Cho Associates Lenders Network, its officers, subsidiaries, parent, or affiliates.

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