Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
FHA loans bad credit Georgia mortgage requirements and guidelines make FHA home mortgages the most popular loan program for first-time homebuyers, borrowers with credit scores down to 500 FICO, and homebuyers with high-debt to income ratios. HUD, the parent of FHA, is the federal government agency in charge of the administration of FHA loans. Alex…
This blog will discuss getting approved for FHA loans in Las Vegas with bad credit and credit scores down to 500 FICO. This blog will cover FHA loans with bad credit in Las Vegas. FHA loans are very popular mortgage loan programs for borrowers with bad credit, first-time homebuyers with no credit, and borrowers with…
When does an automated underwriting system approved file get downgraded to a VA manual underwrite downgrade on VA loans happen? If you are following Gustan Cho Associates, you know we are experts in VA mortgage guidelines. We do our best to help as many of our Nation’s veterans as possible. The team at Gustan Cho…
California FHA loans are a preferred mortgage solution for various borrowers, including first-time homebuyers, individuals with poor credit, and those dealing with collections or charged-off accounts. They are also well-suited for recent college graduates needing more credit scores or credit history and borrowers with high debt-to-income ratios. Limited programs allow borrowers with a credit score…
Rumors are flying about a possible housing bubble in the US. Are they based in fact, or is this wishful thinking on the part of frustrated would-be buyers?
This blog will discuss FHA mortgage guidelines on credit disputes during the mortgage process. In general, you cannot have credit disputes during the mortgage process. There are a few credit disputes exempt from removal. Gustan Cho Associates is an expert in working with borrowers who have credit disputes. The following sections will discuss the FHA…
Lenders can offer 100% with no mortgage insurance at competitive low mortgage rates on VA loans due to the government guarantee against loss or foreclosure on VA loans. VA loans have no maximum debt-to-income ratio cap on VA loans.
This guide covers how to avoid delays in mortgage loan closings. When homebuyers enter a real estate purchase contract, the buyers and sellers agree on a tentative closing date. Normally, the closing date is set between 30 and 45 days from the purchase contract date. Many real estate agents will agree that delays in home…
There is no sign of any housing market crash, especially in Florida. Home prices are booming with no signs of any correction.
This article will tackle the Community Property States Mortgage Guidelines On DTI. Understanding marital property rights can be intricate, especially considering the varying legal frameworks across different states. Different states, including Texas, New Mexico, Louisiana, Wisconsin, California, Washington, Nevada, Idaho, and Arizona, may have varying ownership rules for assets acquired during a marriage. Unlike common…
This guide covers mortgage case scenarios of borrowers with bad credit and lower credit scores. If you have been following the blogs in Gustan Cho Associates for a while, you will understand that many of our clients have been turned down by their current lender. If you are reading our articles for the first time…
California FHA 203k Loans are a great home purchase acquisition and renovation loan program with a 3,5% down payment of the after-repair value for homebuyers of fixer-uppers. Homebuyers of fixer-uppers can gut/rehab and/or renovate the home they are buying. California has one of the highest housing prices in the nation. Many Californians are not able…
This blog will discuss and cover bank statement deposit only mortgage for self-employed borrowers with no income tax returns required. Since the real estate crash 2008, the United States Federal Government stepped in to create mortgage guidelines and standards. One added rule required income calculations used for borrowers, including self-employed borrowers. This is part of…
This blog will cover how mortgage underwriters look at credit report vs credit scores. Minimum credit scores are required to qualify for government and conventional loans. Here are the credit score requirements: HUD requires a minimum credit score of 580 for a 3.5% down payment on home purchases. HUD allows borrowers under 580 credit scores…
This article will cover HUD DACA mortgage guidelines on FHA loans for DREAMERS. Gustan Cho Associates have some good news surrounding FHA mortgage lending. The Federal Housing Administration (FHA) has recently added “dreamers” to the list of acceptable borrowers for all FHA mortgage products. This is a big step. This news means roughly 640,000 people…
In this blog, we will discuss and cover the mortgage guidelines for getting qualified and approved for an FHA loan after Chapter 13 Bankruptcy in North Dakota. Gustan Cho Associates is a mortgage broker licensed in 48 states and is licensed in North Dakota. Bankruptcy is a fairly common legal option when one’s liabilities exceed…
This article explores the various mortgage options available to homebuyers seeking approval for a home loan with bad credit Texas. Despite lower credit scores, mortgage applicants can still qualify for and be approved for a home loan. However, the crucial factor in obtaining approval for a mortgage with bad credit and lower credit scores is…
In this blog, we will cover and discuss manual underwriting versus automated underwriting guidelines. The Automated Underwriting System is a sophisticated computer system and is often referred to as AUS. There are two different types of AUS. Fannie Mae’s automated underwriting system is called Desktop Underwriter and is commonly referred to as DU. Freddie Mac’s…
In this article, we will discuss and cover Refinance Mortgage When House Is Still Listed For Sale By Owners. In the realm of real estate, circumstances often change unexpectedly. Whether prompted by a job transfer, financial limitations, or simply wanting to move to a different area. Homeowners sometimes need to sell their property while also…
This guide covers what a credit supplement in a mortgage is and how it works. There are three major credit reporting agencies; Transunion, Experian, and Equifax. Each credit reporting agency is independent of each other and each credit reporting agency has its own formula in calculating a consumer’s credit score. Credit reporting agencies update a…
What Are The Updated Child Support Mortgage Guidelines On Home Purchase And Refinance For 2021? You cannot have delinquent child support payments and qualify for a mortgage.
Non-QM loans after bankruptcy and foreclosure allow homebuyers to purchase a home with no waiting period after bankruptcy and/or a housing event. There are mandatory waiting period requirements after bankruptcy, foreclosure, short-sale, and deed in lieu of foreclosure with government and conventional loans. Until the launch of non-QM loans, home buyers were required to meet…
CALL NOW