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Buying out of state homes online is no longer a risky experiment—it’s a practical, step-by-step way to shop, inspect, finance, and close without boarding a plane. You can make confident decisions from anywhere with live video tours, uncut walk-throughs, secure e-signatures, and remote notarization. This guide shows how buying out of state homes online works…
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…
Illinois DPA Mortgage Programs: 2026 Guide to Buying a Home With Little or No Money Down Buying a home in Illinois can feel impossible when you’re trying to save for a down payment and closing costs at the same time. The good news: Illinois down payment assistance (DPA) programs can reduce — and sometimes nearly…
Preparing Credit Profile to Qualify for Mortgage: 2025 Guide Buying a home is exciting, but getting approved for a mortgage can feel confusing—especially when your credit isn’t perfect. At Gustan Cho Associates, we work with borrowers turned down by other lenders. We help you prepare your credit profile to qualify for mortgage approval, even if…
Steps of the Home Mortgage Process: A Simple Guide to Get Approved Fast Are you thinking about buying a home but feel confused by the mortgage process? You’re not alone. Getting a home loan can seem scary, but it doesn’t have to be. At Gustan Cho Associates, we help make the steps of the home…
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 on ways on how can you get a mortgage after retirement. Seniors can qualify for a mortgage after retirement using retirement income and/or other sources of income. Tens of thousands of seniors purchase homes for one or many reasons after retirement. John Strange, a senior mortgage loan…
In this blog, we will cover and discuss the New Jersey Housing Market. New Jersey has the highest property tax rate in the nation but that is not slowing down home sales and home prices. New Jersey Housing Market is expected to be stronger than expected in 2026. With reasonable long-term demand, rising prices, and…
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…
In this article, we will cover the correlation between credit card balance vs credit scores. There are mortgage guidelines on credit score requirements. The first step in qualifying for a particular mortgage loan program is to meet the minimum credit score requirements. The higher the credit scores, the lower the borrower’s mortgage rates. It is…
Refinancing your home shouldn’t feel like a maze. If you’re hunting for a lower monthly payment, a shorter term, or cash for debt consolidation or home upgrades, this Chicago mortgage refinance guide explains the options, the costs, the timeline, and how to avoid low-appraisal roadblocks—using simple steps you can follow today. Quick take: You don’t…
Comprehensive Mortgage Guides for Borrowers At Gustan Cho Associates, we get how tricky it can feel diving into the world of home loans. That’s why we’re all about offering easy-to-understand mortgage guides. Whether it’s your first home, a holiday home, an investment, or even a business property, our mortgage guides aim to clear up any…
Buying a home shouldn’t feel confusing. If you’ve had credit bumps or don’t have a big down payment, using FHA loans to buy a home can open the door fast. In this quick guide, we explain who qualifies, how much you need down, what the mortgage insurance is, and the simple steps from pre-approval to…
How Do Principal Payments Work On Home Mortgages Understanding how principal payments work on home mortgages is one of the most important things every homeowner should learn. Whether you’re a first-time homebuyer or an experienced homeowner, knowing how your mortgage payments are divided between principal and interest can help you build equity faster and save…
How to Cancel PMI on Conventional Loans in 2025: Step-by-Step Guide to Save Money Private Mortgage Insurance (PMI) is one of those extra costs most homeowners want to get rid of as soon as possible. If you’re paying PMI every month, you might be wondering how to cancel it and lower your monthly mortgage payment….
Gustan Cho Associates are always expanding the mortgage programs we offer to our clients such as our new all-in-one mortgage loan program. We are happy to announce the rollout of a brand-new mortgage loan that is unlike any product we have offered in the past. In this blog, we will detail our newest program available…
The Truth About Getting a Mortgage With Charge-Off Balances If you’re worried about buying a home because your credit report shows charge-off balances, you’re not alone. Thousands of borrowers each year are told by banks and lenders: “You must pay off your charge-offs before you can qualify for a mortgage.” Here’s the good news: that’s…
Introduction: Your Credit Score Is the Key to Homeownership Buying a home is one of the most significant financial steps you’ll ever take. But before you can get the keys, lenders want to know one thing: What’s your FICO score? Your FICO score determines if you qualify, how much you’ll pay each month, and even…
How to Rebuild Credit for Mortgage Approval: A Simple Step-by-Step Guide If you’re dreaming of owning a home but your credit score is low, you’re not alone. Many homebuyers today need to rebuild credit for mortgage approval. The good news? You can raise your score and get approved faster than you think. At Gustan Cho…
Your Complete Guide to VA Loan With Poor Credit in 2025 Are you a veteran wondering if you can get a VA loan with poor credit? The answer is a resounding YES! Despite having less-than-perfect credit, many veterans can still qualify for a VA loan, one of the best mortgage programs available in the U.S….
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