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How does the economy affect the housing markets? If you’re wondering whether now is a good time to buy, sell, or invest, you don’t need complicated forecasts. You can easily track how the economy affects the housing markets through three key factors: Mortgage rates (the cost of borrowing) Jobs and wages (how confident buyers feel…
80% of our borrowers who contact us at Gustan Cho Associates have gotten last-minute mortgage denials from other lenders or were told they could not qualify due to their lender overlays. Other borrowers were referred to us because they had no luck finding a mortgage lender with the mortgage loan program they were looking for….
Commercial Real Estate Loans: Your 2026 Guide to Smart Investment Financing Thinking about buying a rental building, retail store, or office space? You might need a commercial real estate loan to make it happen. Commercial real estate loans are built for business and investment properties, unlike home loans. In this guide, we’ll explain what they…
This guide covers non-warrantable condos and condotel mortgage rates. A condotel, or a condo-hotel, is a condominium unit located within a hotel or a hotel-like condominium project. Major hotel brands such as Marriott Hotels, Hyatt Hotels, and Trump Hotels often include condotels in their hotel complexes. Condotels are owned by individuals, investors, or other private…
Using Asset Depletion To Qualify For a Mortgage If you are retired, semi-retired, or have a substantial amount of assets but limited regular income, an asset depletion mortgage can help you purchase or refinance a home without requiring pay stubs or tax returns. Lenders use assets like investments, cash, or retirement accounts to turn them…
Why Choose Us: The Mortgage Team That Gets You Approved and Closed—Fast! Are you tired of hearing “no” from mortgage lenders? You are not alone. At Gustan Cho Associates, we help homebuyers and real estate investors nationwide who other lenders have not approved. If you’re asking yourself why you chose us for your mortgage, this…
DACA Mortgage Loans: How DREAMERS Can Buy a Home in 2026 Are you a DACA recipient dreaming of buying your first home? You’re not alone. Many young adults under the Deferred Action for Childhood Arrivals (DACA) program are ready to take that next step into homeownership. The good news? DACA mortgage loans are available and…
This article covers a 12-month bank statement mortgage for self-employed borrowers. Until recently, most self-employed home buyers had difficulty qualifying for a mortgage. Many self-employed homebuyers often have the means to afford a higher-end home. Dale Elenteny, a senior mortgage loan originator at Gustan Cho Associates, says about 12-month bank statement mortgage loans for self-employed…
Condotel Financing Mortgage Guidelines: Your 2026 Guide to Buying or Refinancing a Condotel. If you’ve ever dreamed of owning a vacation home that generates rental income, condotels might be your perfect solution. In this updated guide, we’ll break down everything you need to know about condotel financing mortgage guidelines—whether you’re a first-time buyer, investor, or…
FHA Loans for Bad Credit You can totally get an FHA loan even if your credit isn’t perfect—sometimes as low as a 500 score! FHA is super flexible for people who might have had late payments, collections, charge-offs, or other credit issues. It’s a great option if you’ve faced some financial bumps along the way….
This guide covers what is a conventional mortgage. One of the frequently asked question from homebuyers is what is a conventional mortgage? What is the difference between a conventional mortgage and a government-backed loan. A conventional mortgage is a type of home loan that is not insured or guaranteed by any government entity, such as…
Can an individual with a credit score of 500 be eligible for a VA loan? Absolutely. The Veterans Administration (VA) oversees and establishes guidelines for VA loans, and there’s no mandated minimum credit score requirement. If the borrower can receive approve/eligible through the automated underwriting system (AUS), they can secure a VA loan, even with…
Most lenders approve you based on DTI limits, rather than your actual budget. That’s why you can “qualify” for a payment that leaves you house-poor. In this guide, you’ll learn the difference between qualification vs affordability, how to set a safer monthly payment, and how to estimate your full housing cost (PITI + mortgage insurance…
Quick Answer: Documents Required for Mortgage Processing and Underwriting To avoid delays and get to closing on time, submit a complete, legible, all-pages-included document package before your loan file goes to underwriting. Most borrowers will need photo ID, proof of income and employment, 60 days of asset statements, debt details, and property paperwork (a purchase…
DSCR mortgage loans, debt-service coverage ratio mortgages, are a no-income verification mortgage loan program. No income verification and documentation are required on DSCR mortgage loans, which benefit self-employed borrowers or real estate investors who do not have a consistent flow of qualified income. DSCR mortgage loans are underwritten based on the subject property, not the…
If you’re trying to buy home loans with no credit score, you’re not alone. First-time buyers, cash-only savers, new immigrants, and people who paid off all their debt often have no score—and that can confuse automated mortgage systems. Here’s the good news: you can still qualify for a mortgage with no credit score, as long…
If you missed the open enrollment or went through a big life change, you might not have to wait for the next special enrollment. A Special Enrollment Period (SEP) lets you sign up for or change your health coverage after certain events like losing your insurance, moving to a new place, getting married, or welcoming…
This blog will discuss how mortgage underwriters calculate property taxes on new construction homes. Property taxes on new construction homes can often affect the homebuyer’s debt-to-income ratio due to being estimated versus an exact number. The exact property taxes on new construction homes are not known until a few years after the development has been…
Complying with Florida FHA loan requirements is one of the most flexible ways to buy a primary residence—especially if your credit isn’t perfect. In this guide, you’ll learn the current FHA minimums for credit score, down payment, debt-to-income (DTI), mortgage insurance, and common approval roadblocks, plus practical tips to improve your chances of getting an…
FHA Mortgage Guidelines on Collection Accounts: How to Qualify for a Home Loan in 2026 Buying a home with collection accounts on your credit report? You’re not alone. Many borrowers worry that old debts will stop them from qualifying for a mortgage. But here’s the good news: Bill Burg, a dually licensed mortgage loan originator…
Deciding whether to go with an FHA loan or a conventional loan in Florida isn’t just about the interest rate you find online. For many borrowers—especially with credit scores in the 620–680 range—the “cheaper” option on paper can end up costing more each month once you factor in mortgage insurance (PMI vs. FHA MIP), loan-level…
Non-QM (Non-Qualified Mortgage) loans are alternative home loans for borrowers who don’t meet the requirements of FHA, VA, USDA, or conventional “agency” programs—often because of self-employment income, recent credit events, high loan amounts, complex income, or non-traditional documentation. Unlike government and conventional loans, Non-QM guidelines are not uniform. Each wholesale Non-QM investor sets its own…
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