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This guide covers the benefits of FHA loans for first time homebuyers. There are many benefits of FHA loans for first time homebuyers. There are also the benefits of FHA loans for homebuyers with prior bad credit, bankruptcy, foreclosure, deed-in- lieu of foreclosure, and short sale. FHA loans make home ownership possible with only a…
This guide covers how much money do I need to buy a house. One of the most common first time home buyer questions is how much money do I need to buy a house. On all home purchase transactions, there are two types of funding a home buyer needs: The down payment on a home purchase….
This guide covers Fannie Mae non-citizens mortgage guidelines on conventional loans. Recently Fannie Mae added clarity to Fannie Mae non-citizens mortgage guidelines. Per Fannie Mae non-citizens mortgage guidelines on conventional loans, borrowers do not have to be U.S. citizens to qualify for home loans. Fannie Mae non-citizens mortgage guidelines, homebuyers can qualify for a home…
In this blog, we will cover and discuss FHA guidelines on late payments after bankruptcy. Borrowers are often confused with FHA guidelines on late payments after bankruptcy due to being turned down for an FHA Loan if they have late payments after bankruptcy. Recent late payments in the past 12 months are not good. John…
2026 Conforming Loan Limit Guide: What Borrowers Need to Know At Gustan Cho Associates, we want to help you understand how the conforming loan limit impacts your home loan. Whether you’re buying, refinancing, or shopping in a high-cost area, this guide explains the updated current conforming loan limits for 2026 and how they can help…
This guide covers how credit scores impact DTI on FHA and Conventional loans. A person’s credit score will determine whether or not the person can qualify for a certain mortgage loan program. For example, the minimum credit score needed to qualify for a conventional loan is 620. The minimum credit score to qualify for a…
North Carolina Mortgage Calculator: 2025 Guide to Budgeting Your Monthly Payment Buying a home in North Carolina? Don’t guess your payment—know it down to the dollar. Our North Carolina mortgage calculator gives you a full monthly estimate, including taxes, insurance, PMI, HOA fees, and even your debt-to-income ratio. Whether buying your first home or upgrading,…
In this blog, we will discuss and cover the types of mortgage lenders homebuyers can consult with to get pre-approved for a home mortgage. There are different types of mortgage lenders. Most people are not familiar with the mortgage process. There are three types of government loans. FHA, VA, and USDA loans. Government-backed loans are…
This guide cover the differences between recourse and non-recourse loans. The difference between recourse and non-recourse loans are that borrowers are personally liable for recourse loans. With non-recourse loans, borrowers are not personally liable. All primary owner-occupant properties are recourse mortgages. Non-Recourse loans are for investment and commercial loans only. In the following paragraphs, we…
Placer County California is well known for its phenomenal schools, great neighborhoods, low crime rates, lush scenery, and plenty of recreational activities. Besides the schools, Placer County California has beautiful geography, with abundant rolling hills, mountain views, breathtaking architecture, and well-maintained parks. Whether you love arts & culture, museums, outdoor recreation, fairs and festivals, or…
This guide covers effective ways to finance your dream condo for condominium buyers. Acquiring a house or a condominium unit within the sprawling and bustling metropolitan area can be a young professional’s dream come true. Dale Elenteny, a senior mortgage loan originator at Gustan Cho Associates says the following about effective ways to finance your…
Understanding what your mortgage payment consists of is very important for homeowners. Most people do not pay in cash for their first home and get a mortgage loan. So it’s important to understand mortgage payment before buying a home. This article tells you what goes into a mortgage payment, how your mortgage payment reduces your…
This guide covers rebuilding and re-establishing your credit by being an authorized credit card user. There are many home buyers who are qualified for a home mortgage but do not quite meet the minimum credit score requirements. Many have paid all of their bills in time for the past two years but have lower credit…
This guide covers credit and DTI guidelines on conventional loans vs FHA loans. Credit and DTI guidelines on conventional loans have tighter mortgage lending requirements compared to FHA loan mortgage programs. The debt-to-income ratio (DTI) measures how much your monthly income goes toward debt. It is an important number lenders look at when deciding if…
This BLOG covers FHA insured mortgage loans vs other loan programs. FHA insured mortgage loans are government residential home loans that are originated and funded by private mortgage lenders. However, FHA insured mortgage loans are insured by the Federal Housing Administration against borrower default and foreclosure. HUD, the parent of FHA, insures private lenders who…
This guide covers borrowers cost out of pocket in the mortgage process. There are two types of costs involved when buying a home: The down payment on the home purchase The closing costs on the home purchase transaction Buying a home is one of the biggest moves you’ll ever make, and knowing your out-of-pocket mortgage…
Loss of Employment During Mortgage Process: What You Need to Know Losing your job while trying to buy a home can feel like your world is crashing down. If you ask, “Can I still get a mortgage after losing my job?” — you’re not alone. Every year, thousands of borrowers across the country face this…
This guide covers how do mortgage lenders view periods of unemployment. Qualified income is extremely important when qualifying for a residential home loan. Can borrowers qualify with gaps in employment in the past two years? The answer to the above question is an absolute YES. Most lenders do want to see a solid two-year full-time…
In this guide, we will cover Feds start land seizures along the Texas border to clear path for new wall. President Donald J. Trump pledged to build a border wall along the Southern Border in his 2016 election campaign and has honored that pledge once elected. When Trump was defeated by Joe Biden in 2020…
Waiting Period After Loan Modification: What You Need to Know Before You Apply for a Mortgage If you’ve gone through a loan modification, you’re not alone. Many homeowners have faced tough times and had to work with their lenders to lower their monthly mortgage payments. But once you’re back on your feet, a big question…
In this guide, we will cover what to do if borrowers get mortgage denial from bank. First and foremost, find out the reason why you got denied. Is it because of having lower credit scores? Was it because of prior bad credit? Was it due to high debt-to-income ratios? Is it due to outstanding collections…
Buying a House With Tenants: Everything You Need to Know Buying a house with tenants already living there can be a smart or risky move. Whether you plan to move in or invest, it’s important to understand what you’re getting into. In today’s tight housing market, buying a house with tenants is more common than…
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