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This blog will cover the FAQ on VA loans, eligibility requirements, and VA mortgage loan options for first-time homebuyers. There are many FAQs on VA loans regarding qualification, credit, eligibility requirements, and the types of VA loan programs that our viewers often inquire about. VA loans are the best mortgage loan program available in the United…
Your All-Inclusive Manual to Getting an Illinois Mortgage with Bad Credit Mortgage Options. Do you fear poor credit could dash your hopes of homeownership in Illinois? Worry no more! This manual will provide a step-by-step approach to securing an Illinois mortgage, even if you have bad credit. Christy Hembree, a senior mortgage loan originator at…
What Lenders Look for in Bank Statements: 2025 Guide for Mortgage Approval Getting a mortgage can be stressful, especially when lenders ask for your bank statements. A lot of people wonder what exactly lenders are looking for in those statements and why it’s such a big deal. The truth is, bank statements give lenders a…
Chenoa DPA EDGE Program: Your Guide to Down Payment Help in 2025 The American dream is a term we have all heard many times. But what is the “American Dream”? According to Wikipedia: American Dream is a belief that anyone can obtain their own version of success in a society where upward Mobility is possible…
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…
Buying a Beachfront Property in Florida: Everything You Need to Know Florida’s sunshine, sandy beaches, and breathtaking views have made it one of the most popular places in the world to own coastal real estate. Whether you want a second home, a vacation rental, or your forever beach house, buying a beachfront property in Florida…
Quick Take: 2025 Mortgage Reserve Requirements FHA: 0–1 month (manual = 1, multi-unit = 3–6) VA: 0 months (manual = 1–2, multi-unit = up to 6) Conventional: 0 months for single-family, 2–6 months for second homes, 6+ for investments Jumbo: 6–12 months, depending on loan size/credit Non-QM: 3–12 months depending on program If you’re planning…
This guide covers the FHA loan guidelines Alabama for homebuyers and homeowners. Due to the lenient FHA loan guidelines Alabama, FHA loans are the most popular loan programs in Alabama. HUD, the parent of FHA, created FHA loans to help hard-working Americans purchase a home with a 3.5% down payment and lower credit scores. For…
This blog explores the process of training a new mortgage loan officer, particularly those without prior experience. Gustan Cho Associates offers a streamlined training program tailored for individuals aiming to embark on a career as a mortgage loan officer. Training newcomers in this field poses significant challenges for both mentors and rookies. You can learn…
Primary Home Mortgage Guide: Rules, Loan Options, and How to Qualify Buying your first home can feel confusing. One of the most important terms you’ll hear in the process is “primary residence.” But what does it really mean? And why is it so important for loan approval? This primary home mortgage guide will walk you…
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…
Can Realtors Be Loan Officers? Everything You Need to Know in 2026 Many real estate agents ask the same question over and over: Can realtors be loan officers? The short answer is yes, but the rules, guidelines, and lender policies can be confusing. Some mortgage companies allow it, while others require agents to put their…
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…
VA DTI Manual Underwriting Guidelines: How to Qualify for a VA Loan with High DTI in 2025 For veterans or active-duty service members aiming to purchase a home, concerns about a high debt-to-income (DTI) ratio may raise questions regarding eligibility for a VA loan. This situation often prompts individuals to seek guidance on their options….
How to Get a Mortgage Loan with Unsatisfied Judgment in 2025 Getting a mortgage loan with an unsatisfied judgment may seem impossible, but it’s not. Many homebuyers assume that having a judgment on their credit report means they’re automatically disqualified. The truth? Dale Elenteny, a senior mortgage loan originator at Gustan Cho Associates, says the…
In this blog, we will cover and discuss the top-rated five-star Washington DC lenders for traditional and non-QM mortgages who have the best mortgage rates. Washington, DC has one of the highest home prices in the nation. Whether you have great credit, bad credit, or are seeking unique non-QM and alternative financing loans with multiple…
This article discusses the revised VA guidelines regarding charge-offs and collections. According to the VA Guidelines on Charge-Offs and Collections, veteran borrowers may still be eligible for VA home loans even if they have outstanding charge-offs and collections accounts, provided they receive an approved/eligible status from the automated underwriting system (AUS). VA guidelines on charge-offs…
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….
This blog will discuss qualifying for a VA loan during Chapter 13 Bankruptcy mortgage guidelines. Many of our clients at Gustan Cho Associates are told they do not qualify for a VA loan during Chapter 13 Bankruptcy. Many homebuyers are told they can’t qualify for a VA loan during Chapter 13 Bankruptcy. You need to…
This article will cover how underwriters view collections and charge-off accounts when reviewing a borrower for a mortgage loan. Homebuyers can qualify for an FHA loan with outstanding collections and charged-off accounts. How underwriters view collections and charge-off accounts depends the lender the mortgage underwriter works for. If the lender has no overlays on collection…
FHA Chapter 13 Bankruptcy Guidelines allow homebuyers and homeowners to qualify for FHA loans for home purchases and refinance during and after Chapter 13 Bankruptcy. Dustin Dumestre, a senior loan officer and team leader at GCA FORUMS Mortgage Group explains how borrowers can get a mortgage while in a Chapter 13 Bankruptcy repayment plan based…
In this blog, we will discuss and cover FHA vs conventional cash-out refinance mortgage loans and general rate and term refinance mortgage guidelines. HUD, the parent of FHA, has changed the FHA cash-out refinance guidelines for homeowners from 85% loan to value to 80% LTV. HUD requires FHA mortgage insurance premium on all 30-year fixed-rate…
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