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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 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…
In this article, we will discuss and cover manual underwriting during Chapter 13 mortgage process. Homebuyers can qualify for an FHA loan or VA loan while in an active Chapter 13 Bankruptcy repayment plan via manual underwriting. Manual underwriting is only allowed on FHA and VA loans. No other loan program permits manual underwriting. There…
Mortgage with High DTI: Your Guide to Home Loans in 2024 In 2024, the world of home loans is changing. Lenders are looking at various factors, and this makes it even more important for someone like you to stay informed about your options. If your DTI is on the higher side, you might be wondering…
Unlock Your Dream Home in Kansas: A Guide to Bad Credit Mortgage Loans in 2024 If you’re eyeing a new home in Kansas but worry about your credit history, you’re in the right place. Despite what you might think, a few credit mishaps don’t shut the door on your dream home. In Kansas, the housing…
Refinancing your mortgage is a smart way to lower your housing costs and save money over time. For FHA homeowners, the option to refinance with a Mortgage Insurance Premium (MIP) reduction can amplify these benefits. Here’s what you need to know about this opportunity and how to take advantage of it. What Is FHA Mortgage…
Home Loan With Bad Credit Ohio: Your 2024 Guide to Buying a Home Owning a home is a dream for many Ohioans, but having bad credit can make it feel out of reach. The good news? Even with a low credit score, finding a home loan with bad credit in Ohio is still possible. Have…
Home Loan With Bad Credit in Iowa: Your Complete Guide for 2024 Don’t lose hope if you have bad credit and dream of buying a home in Iowa. While having bad credit can make the mortgage process challenging, options are still available to help you achieve homeownership. In this updated guide for 2024, we will…
Student Loans Mortgage Guidelines: Qualify for a Mortgage Even with Student Debt Are you worried your student loans might stop you from buying a home? Don’t worry—you’re not alone. Student loan debt poses one of the greatest obstacles for homebuyers in today’s market. But here’s the good news: with the right mortgage program and guidance,…
Changing Jobs During Mortgage Approval Process: What You Need to Know in 2024 Changing jobs during the mortgage approval process can be a stressful decision. It may impact your chances of obtaining a home loan. Many borrowers worry that switching jobs could delay their closing or jeopardize their approval altogether. But here’s the good news:…
How fast can you close a mortgage? Americans love instant gratification! Gustan Cho Associates has a fast-track, 15-day mortgage process.
Mortgage After Bankruptcy in Minnesota: Your Complete 2024 Guide Buying a home might feel like a far-off dream if you’ve filed for bankruptcy. The good news? It doesn’t have to be. Bankruptcy is a hurdle, not a dead end. In fact, many Minnesota homebuyers qualify for a mortgage much sooner than they think. Whether it’s…
This guide covers the waiting period mortgage guidelines after housing events and bankruptcy. Homebuyers with prior bankruptcy, foreclosure, deed-in-lieu of foreclosure, or short sale have a mandatory waiting period to qualify for a mortgage. FHA, VA, and USDA loan programs have a waiting period of 2 years after Chapter 7 bankruptcy. Waiting period mortgage guidelines…
This guide covers lending guidelines and mortgage loan programs for non-permanent residents. Certain guidelines exist for non-permanent residents interested in qualifying for a mortgage loan in the United States. Non-permanent residents with work permits or visas can qualify for Conventional and FHA residential mortgage loans if they are legally on work permits in the United…
Mortgage Guidelines on Co-Borrowers: Everything You Need to Know for 2024 If you want to buy a home and need extra help qualifying, you might consider adding a co-borrower to your mortgage application. Understanding the mortgage guidelines for co-borrowers is key, whether it’s a family member or someone else. This decision can be the key…
What Are Refinancing Community Property States Mortgage Guidelines? Refinancing in community property states requires non-borrowers debts to be included on FHA loans. Conventional loans do not require non-borrowers debts to be included in the debt to income ratio calculations.
Fix-and-Flip Mortgage: The Ultimate Guide for 2024 If you’re a real estate investor or thinking about diving into the world of property flipping, a fix-and-flip mortgage might be the perfect tool to fund your project. Whether you’re new to house flipping or have years of experience, this loan can help you acquire, renovate, and resell…
Mortgage for Self-Employed Versus W-2 Borrowers: 2024 Guide to Getting Approved Are you a self-employed worker or a W-2 employee looking for a mortgage? Purchasing a home can seem daunting, particularly when the nature of your employment influences how lenders evaluate your income. Whether you’re your boss or receive a steady paycheck, this guide will…
Freddie Mac’s CHOICERenovation mortgage might be the best home improvement loan for larger renovation projects. You can use a Freddie Mac CHOICERenovation home to purchase or refinance a home.
Everything You Need to Know About 85% LTV Jumbo Loans: Your Guide to Financing a High-End Home in 2024 Are you looking to buy a high-end home or refinance your luxury property? If so, an 85% LTV Jumbo Loan could be your perfect option. Jumbo loans are a specialized form of financing designed for high-value…
The Best Mortgage Lenders After Bankruptcy: Your Path to Homeownership in 2024 Buying a home might feel like a far-off dream if you’ve recently gone through bankruptcy. But here’s the good news: bankruptcy doesn’t mean the end of homeownership. In fact, many lenders specialize in helping borrowers like you rebuild their financial footing and qualify…
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