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How Underwriters View Credit History and Recent Late Payments When buying a home, your credit history and recent late payments play a big role in whether you’re approved for a mortgage. Mortgage lenders carefully review your credit history to understand how you’ve managed debt over time. Late payments, especially within the past 12 months, can…
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,…
This guide covers the Nevada housing market and forecast of home prices. As if the good news weren’t enough last year that the Nevada Housing Market appreciates nearly 10% appreciation in property values, the GLVAR reported this past month that homes are still appreciating at a modest 8% over the last quarter. Nevada home prices have…
This guide covers the importance of smart technology in mortgage careers. Let’s first start with the definition of smart technology. What is smart technology? Talking alarm clocks, TVs, Robots, and talking watches? Really? Alex Carlucci, a senior loan officer at Gustan Cho Associates, explains smart technology in the mortgage industry as follows: In retrospect, it…
This guide covers tire maintenance and safety for car owners. Your vehicles tires are the only part of your vehicle that has direct contact with the road. Tires affect how your vehicle handles, rides, brakes and thus performs. For optimum performance and maximum longevity of your tires, proper tire pressure, balance, alignment and tread depth…
This guide covers the benefits and negatives of homeschooling versus public education. Lately I’ve been feeling kind of nostalgic about air travel as it used to be before the 90’s. I remember that flying was a grand event. My grandmother used to wear her best suits, her finest jewelry and even hats. Dressed up as…
This guide covers taking test for job to get started to a career as a mortgage loan officer. I am currently dealing with the issue of worrying too much about an upcoming test. If you read my previous article about passing the NMLS exam on the first try, I know I said you need to…
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…
What Are The Typical Mistakes Prior To Clear To Close To Avoid By Mortgage Borrowers? You should not maximize your credit cards, purchase new furniture, buy a car, bounce any checks, or apply for new credit during the mortgage process prior to the clear to close.
HUD Forbearance Guidelines on FHA Loans: What Borrowers Need to Know in 2024 Are you struggling to make your mortgage payments and wondering how HUD forbearance guidelines can help? Forbearance can be a lifeline for homeowners experiencing financial hardships. This option offers crucial support by permitting you to either temporarily pause or lower your monthly…
How Unreimbursed Business Expenses Affect Your Ability to Get a Mortgage in 2024 If you plan to buy a home or refinance your mortgage, understanding the impact of unreimbursed business expenses on your mortgage application is essential. While these expenses can save you money on taxes, they can also lower your qualifying income, making it…
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…
Qualifying for a Home Loan After Deed in Lieu of Foreclosure in 2024 Life happens. Financial struggles can force homeowners to make tough decisions, and sometimes, a deed in lieu of foreclosure feels like the best way out. But here’s the good news: your dream of homeownership doesn’t have to end there. At Gustan Cho…
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,…
In this blog, we will discuss and cover qualifying and getting approved for a Chicago home loan with bad credit. There is hope for those who were victims of the Great Recession of 2008. Many have gone through bankruptcy, foreclosure, deed instead of foreclosure, short sale, lost their homes, jobs, or just had their credit…
How fast can you close a mortgage? Americans love instant gratification! Gustan Cho Associates has a fast-track, 15-day mortgage process.
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…
Buying a House in Nevada: The Ultimate 2024 Guide to Making Your Dream Home a Reality Buying a house in Nevada is an exciting journey, whether you’re a first-time homebuyer or looking to relocate to one of the country’s fastest-growing states. With its booming economy, no state income tax, and vibrant communities like Las Vegas,…
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