Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
This Article Is About Pest Inspection On VA Loans Mortgage Guidelines By State Pest Inspection On VA Loans Mortgage Guidelines By State required by the Veterans Administration: Gustan Cho Associates are experts in VA mortgage financing. We offer all our VA loan programs without LENDER OVERLAYS. In this blog, we will detail a critical part…
This blog will discuss the VA guidelines after short sale waiting period requirements to qualify for a VA loan. VA guidelines after short sale to qualify for a VA loan require a mandatory waiting period of two years for borrowers to qualify for a VA loan. Lenders expect no late payments after the short sale…
In this blog, we will cover and discuss VA renovation mortgage loans. Many of our veterans do not know they may utilize a VA loan to complete renovations to a property. This can be done when purchasing a home or refinancing their current primary residence. This product is similar to The FHA 203k or Fannie…
In this article, we will discuss and cover the VA automated findings on the automated underwriting systems (AUS). VA loans has more lenient agency mortgage guidelines than any other loan program. All VA loans need to go through the Automated Underwriting System for VA Automated Findings. What is the Automate Underwriting System (AUS) The Automated…
In this article, we will cover and discuss VA foreclosure guidelines in qualifying for VA loans. VA Foreclosure Guidelines require a two-year waiting period after a housing event to qualify for VA Loans.VA Foreclosure Guidelines are less strict than other loan programs. A housing event is a foreclosure, deed in lieu of foreclosure, or short-sale….
This blog will discuss and cover VA Guidelines Versus Overlays on VA loans. Not all mortgage lenders have the same requirements for VA loans. All mortgage lenders require their borrowers to meet the minimum VA agency guidelines set by the Veterans Administration. However, lenders can impose stricter lending requirements beyond the VA guidelines. These additional…
Gustan Cho Associates is a mortgage company licensed in multiple states, specializing in FHA mortgage loans with no overlays. More than 75% of our clients couldn’t qualify or got turned down by other lenders. While most lenders add extra requirements, or overlays, to FHA, VA, USDA, and conventional loans, we don’t. At Gustan Cho Associates,…
Understanding Credit Score Guidelines Versus Lender Overlays during the coronavirus pandemic is important. A detailed analysis of the covid 19 situation highlights that none of the key stakeholders involved namely HUD, VA, USDA, Fannie Mae and Freddie Mac altered or hiked minimum credit score prerequisites. The coronavirus pandemic that began in early 2020 affected the…
In this article, we will discuss and explain the guidelines for VA loans with under 620 credit scores. VA loans are considered the best mortgage loan program available for home buyers. However, VA Home Loans are exclusively available to Veterans of the United States Armed Forces who possess a valid Certificate of Eligibility (COE). Importantly,…
This article discusses the first time home buying process, emphasizing that it starts with pre-approval. The initial step for those currently renting or living with family and are first time home buyers is to consult with a mortgage lender. The most critical stage of the first time home buying process starts with getting pre-approved. Over…
Most people don’t know that the VA does not limit the amount that you can borrow. The VA guarantee limits the amount that most lenders will allow with zero down, but with a down payment there are no VA loan limits.
This Article Is About How Loan Officers Qualify Borrowers And Issue Pre-Approvals. Understanding how loan officers qualify borrowers is crucial in the mortgage process. The pre-approval process is the most critical stage, setting the foundation for the mortgage journey. Often, last-minute loan denials occur because the loan officer initially needed to adequately qualify the borrowers. The mortgage industry is…
This guide covers clearing mortgage conditions of conditional loan approval. After borrower’s mortgage application has been processed and underwritten, the mortgage underwriter will issue a conditional mortgage approval. Clearing Mortgage Conditions is required for the underwriter to issue a clear to close. A conditional mortgage approval is a letter of intent that the lender will…
When And Why Do Mortgage Lenders Ask For Reserves? On VA and FHA manual underwriting, one month’s reserves are required. Multi-family units require reserves by homebuyers.
In this article, we will delve into the process of buying a home with bad credit in Nevada, specifically for individuals with credit scores below 600. The team at Gustan Cho Associates specializes in guiding homebuyers through purchasing a home with bad credit in Nevada. Over 75% of our clients come to us after being…
In this blog, we’ll explain the qualifying credit score that lenders use for mortgages. Mortgage underwriters determine this score by selecting the middle credit score from a tri-merge credit report. When a mortgage applicant applies, the loan officer pulls a report to evaluate creditworthiness. Not all creditors rely on tri-merge credit reports. It is common…
In this article, we will discuss and cover mortgage conditions by underwriters on conditional loan approvals. Once the mortgage loan has been processed, it will get submitted to the mortgage company’s underwriting department. It is then assigned to a mortgage underwriter. A mortgage underwriter will carefully look at borrowers’ loan applications. All loan documents submitted…
In this article, we will be covering the topic on are all mortgage lenders the same. Choosing the right mortgage lender that is suitable to you is one of the most important decisions borrowers will make in the home buying process. Getting the right lender with the best terms and rates is very important for…
We will be covering qualifying and getting approved for VA mortgage loans in Arizona. Arizona is one of the most migrated states in the nation. Tens of thousands of families are moving to the state due to the great economy, low taxes, affordable housing, and low cost of living. Thousands of Californians are moving to…
In this blog, we will discuss and cover qualifying for a VA loan with prior mortgage included in bankruptcy. VA home loans are the best mortgage loan program in the United States. Only active servicemen and women, retired veterans, reservists, spouses of deceased veterans, and National Guard members of our military with a valid Certificate…
VA home loans are ideal for primary residences, offering 100% financing with no down payment required for those who qualify, including active and retired U.S. Armed Forces members and eligible surviving spouses. The key to accessing these benefits is obtaining a Certificate of Eligibility (COE), which confirms eligibility for the VA’s loan program. The VA…
This article explores the Factors Affect Pre-Approval And Stress During Mortgage Process. Once individuals decide to purchase a home, the subsequent step is qualifying for a home loan. Prospective buyers must assess the required down payment and closing costs and determine their eligibility for a loan. Homebuyers must undergo the qualification process and obtain a…
CALL NOW