Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
This guide covers verified funds for home closing before clear-to-close. Failure to provide verified funds for home closing before clear-to-close is one of the most common obstacles during the mortgage process. It is one of the many reasons a clear-to-close is delayed at the eleventh hour. Mortgage underwriters have specific rules on whether they will…
This guide covers qualifying for a mortgage after college education versus work experience mortgage guidelines. We will further cover why real work experience beats book markets. College education versus work experience. As I take this time to break away from my housing and mortgage experiences, let me jump into another topic I feel strongly about….
This guide covers the recovery of housing market and updates new mortgage guidelines and loan programs. Many of us remember the good old days of easy financing from the 90s until the real estate and mortgage meltdown of 2008. The Great Recession of 2008 hit everyone. Never in history since the Great Depression have so…
This guide covers solutions for when things go wrong during the mortgage process. The mortgage process can be very stressful. This holds especially for borrowers with credit issues or higher debt-to-income ratios. Every mortgage loan application is different from the next. Some mortgage files can be tricky. The most important phase is the pre-approval stage…
In this blog, we will cover what no-ratio mortgage loans are. We will discuss how no-ratio mortgage loans work and what types of borrowers benefit from no-ratio mortgage loans. No-ratio mortgage loans are a type of non-QM loan where the lender does not factor in the borrower’s income. No-ratio mortgage loans mean the debt-to-income ratio…
This guide covers buying a house after bankruptcy discharge date. Buying a house after bankruptcy is possible. Many homebuyers think that bankruptcy is the end of the world when it comes to obtaining credit, especially a mortgage. This is not true. Many people have credit scores higher than 700 FICO less than a year before…
This guide covers taking the next steps after getting a mortgage denial by underwriter. There should be no mortgage denial if the borrower was properly qualified for a home loan. Borrowers need to be very cautious with their finances and credit during the mortgage loan approval process. Make sure not bounce checks or apply for…
This guide covers how to review credit report during the mortgage process. We will be discussing how to review credit report for errors before applying for a mortgage. An accurate credit report will avoid delays in the mortgage process and may boost your credit scores. Homebuyers should always review their credit reports before applying for…
This guide covers investing in Chicago real estate. Many homebuyers love the City of Chicago, where they would not consider living other than Chicago or the nearby suburbs. Others will only invest in commercial real estate in Chicago and nearby suburbs. In this guide, we will discuss investing in Chicago real estate. Many people would…
This guide covers the dream of owning your own home. The dream of owning your own home is a common aspiration for many people worldwide. It represents a significant milestone in one’s life and is often seen as a symbol of financial stability, security, and personal achievement. Here are some key aspects and reasons why…
This guide covers the role of a mortgage loan processor. We will discuss the important role processors undertake during the mortgage process. Mortgage processors are the backbone of a lender. Processors are the quarterbacks and the professionals who make the loan to the closing table. Ami Thakkar of Gustan Cho Associates is one of the…
This guide covers how inflation affects the housing and mortgage markets. Whenever you turn on the news, you hear “inflation.” In this article, we will review the current inflation rate throughout the country and break it down by sector. We will also go one step further and discuss inflation’s effects on the mortgage market. The…
This guide covers the Chicago housing market forecast for homebuyers in Chicago and surrounding suburbs. It seems like the Housing Market has fully recovered after years of sluggish sales. Statistics indicate that Chicago Housing Market values have increased the most in almost seven years. Chicagoland Housing Market has been the best since the Great Recession…
This guide covers the Colorado Springs Housing Market for homebuyers. Colorado Springs Housing Market is booming. While tens of thousands of residents are moving out of New York and California, many Americans are migrating to Colorado Springs. Colorado Springs Housing Market has grown double digits annually for the past few years. There is no slowdown…
This guide covers the steps to buying your first home during a booming housing market. Buying your first home during a booming housing market can be quite challenging. Many would-be homebuyers often get discouraged from purchasing a new home when competition for homes is at historic highs. Gustan Cho Associates are experts in helping first-time…
This guide covers qualifying income guidelines to qualify for home loan. There are federal income guidelines to qualify for home loan. Days of no income verification to qualify for a home loan have long been gone, and it does not seem like they will ever come back shortly. There are strict income guidelines to qualify…
This guide covers the FHFA FNMA Guidelines updates on Conventional loans. There are FNMA guidelines changes for mortgage loan borrowers on Conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants in the United States that set mortgage requirements for Conventional loans. To qualify, conventional mortgage borrowers must meet the minimum Fannie Mae…
This guide covers the mortgage process experience after Chapter 13 Bankruptcy. The experience does not have to be stressful. I had the pleasure and honor of meeting Mary B. as a borrower. Now we have become lifelong friends. Mary B., like many, fell victim to the 2008 Real Estate And Credit Meltdown. Due to the…
The homebuying and mortgage process in a seller market with historically high rates and soaring inflation can be challenging. The aftermath of the coronavirus pandemic is making the homebuyer and mortgage process more difficult than it used to be. Dale Elenteny of Gustan Cho Associates said the coronavirus outbreak had changed the mortgage industry. Never…
In this article, we will discuss and cover the borrower review of Gustan Cho Associates. Just this past June 2, 2023, I received a frantic call from a home buyer who was extremely disturbed. This was because she learned from multiple mortgage lenders in her community that she could not qualify for a conventional loan…
Conventional Loans also referred to as Conforming Loans are not guaranteed and/or insured by the federal government. Conventional Loans need to …..
This article will cover how to become a successful mortgage loan officer at Gustan Cho Associates. Starting a new career as a loan officer and How to become a successful mortgage loan officer. This mortgage blog article on how to become s successful mortgage loan officer is geared toward those individuals thinking about starting a…
CALL NOW