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Quick Answer About Getting Approved for a Business Loan To approve a business loan, lenders focus on your ability to repay: cash flow/revenue trends, credit history, time in business, and how the funds will be used. You’ll typically need a clear business plan (or use-of-funds summary), recent bank statements, financial statements, tax returns (if available),…
Quick Answer: How to Negotiate a Home Purchase in 2026 To negotiate a home purchase in 2026, start with a strong pre-approval, understand whether you’re in a buyer’s market or seller’s market, and make an offer that balances price + terms (closing timeline, contingencies, and seller concessions). Use comparable sales (comps) to support your number,…
Quick Answer: Jumbo Loans After Foreclosure Yes—you can get a jumbo loan after foreclosure, primarily through non-QM/portfolio jumbo lenders that may allow financing much sooner than traditional jumbo channels (sometimes even with little to no formal waiting period, depending on the investor and your overall file strength). However, traditional jumbo loans often mirror conventional timelines,…
Homebuyers can qualify for a mortgage loan as long as they have a written payment agreement with the judgment creditor and have made three timely payments. Or they can negotiate a settled amount with the judgment creditor and pay it at or prior to closing.
Open houses are one of the simplest ways to connect buyers and sellers in real time—without the back-and-forth of scheduling private showings. For buyers, an open house is a low-pressure chance to walk through the home, spot condition issues that photos don’t show, and ask questions on the spot. For sellers, it can create more…
If you’re behind on your mortgage and the letters are piling up, you’re not alone—and you have options. This easy-to-follow guide explains how to stop foreclosure in simple, everyday terms. We’ll cover what to do first, which options to ask your servicer about, how to organize your paperwork, and what to say on the phone….
Chicago property tax increases don’t just make headlines—they can raise your mortgage payment even if your interest rate never changes. That’s because most homeowners pay taxes through an escrow account. When the annual tax bill rises, your lender adjusts your monthly escrow deposit to cover it. In this guide, you’ll learn (in plain English) how…
This article is about building credit with timely housing payments. One of consumers’ strongest credit tradelines is building credit with on-time housing payments. Most landlords do not report rental payments to the credit bureaus. However, there is a way of reporting timely monthly payments to all three credit reporting agencies on time. Mortgage underwriters view…
Buying a lake house should feel like sunrise on calm water—not a guessing game. In this guide, you’ll learn how to finance a lake home (second home vs investment), what insurance and flood rules to expect, which shoreline and dock permits can delay closing, and how local short-term rental laws affect your loan and cash…
12 Common Home Buying Mistakes and How to Avoid Them (2026 Guide) Buying a home is one of the biggest financial steps you’ll ever take. It’s exciting, emotional, and expensive when things go wrong if you’re not careful. At Gustan Cho Associates, we’ve helped thousands of homebuyers avoid costly errors that can delay closings, drain…
Conforming Loan Underwriting Guidelines: What You Need To Know in 2025 If you’re considering buying a home and want a mortgage with the best rates, you’ve likely come across the term conforming loan underwriting guidelines. These rules significantly affect whether you get approved and how much house you can afford. At Gustan Cho Associates, we…
California Extra Credit Teacher Home Purchase Program: 2025 Guide for Teachers Buying a Home If you work in education and dream of buying your own home in California, you’re in luck. The California Extra Credit Teacher Home Purchase Program (ECTP) is made just for you. This program gives teachers and school staff a hand with…
Are you preparing to qualify for conventional loans? Many homebuyers want to avoid FHA loans because of mortgage insurance, stricter student loan rules, or past credit issues. Knowing how to prepare to qualify for conventional loans can make the process smoother and give you a stronger chance of approval. In this guide, you’ll learn: What…
Buying a home in Florida is a dream for many people. Sunshine, beaches, no state income tax, and year-round outdoor living make the state very attractive to both local renters and out-of-state buyers. But buying a home in Florida also comes with unique rules, costs, and risks that many buyers do not discover until it…
When COVID-19 hit in early 2020, millions of homeowners used the CARES Act mortgage forbearance program to stay afloat. Years later, many of those same borrowers want to buy a new home or refinance and are now asking one big question: What is the waiting period after CARES ACT forbearance to qualify for a mortgage?…
In this blog, we will cover and discuss FNMA waiting period guidelines after foreclosure for 2025. Conventional loans are often referred to as conforming loans because they need to conform to Freddie Mac and/or Fannie Mae guidelines. If lenders do not make sure conventional loans they originate and fund do not conform to FNMA or…
Many Americans are familiar with the terms Fannie Mae and Freddie Mac, but may not know exactly what they represent. Many believe Fannie Mae and Freddie Mac are branches of the federal government. Christy Hembree, a senior mortgage loan originator at Gustan Cho Associates says the following about rental payments reported on credit bureaus. The…
Getting a denial letter after you’ve already fallen in love with a home is stressful, embarrassing, and, honestly, heartbreaking. The good news is that a “no” from a traditional lender does not always mean the end of the road. For many borrowers, using non-QM loans after being denied is the exact second chance they need…
In this blog, we will cover and discuss qualifying for FHA jumbo loans while in Chapter 13 Bankruptcy repayment plan. As if the Chapter 13 bankruptcy process isn’t hard enough, finding homeownership opportunities during this process can be even more daunting and frustrating, especially if the home is a high-value home that exceeds the loan…
Gustan Cho Associates is a mortgage broker licensed in 48 states (Not licensed in NY, MA) with a wholesale lending network of 170 wholesale financial institutions. Utah is one of the fastest-growing states in the nation, with more and more families calling Utah home. Utah is a wonderful state to move to, with stunning views…
The bankruptcy manual underwriting guidelines on FHA and VA loans are covered in this guide, which focuses on the exclusive mortgage programs that permit manual underwriting. Manual underwriting occurs when a borrower fails to receive an approve/eligible status via the automated underwriting system and necessitates human underwriter assessment. Dale Elenteny is a loan officer at…
Buying again after bankruptcy, foreclosure, or a short sale can feel confusing—especially with so many outdated articles referencing an old HUD pilot. This guide breaks down FHA back to work versus other loan programs, explains what that historical program was, and shows today’s real paths to approval with FHA, Conventional, VA, and Non-QM options. In…
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