This ARTICLE Is About Non-QM Terms And Rates Versus Traditional Mortgages Non-QM Terms and rates are different than traditional mortgages. Lenders offer the best mortgage rates and terms for prime borrowers. The more risk a lender takes on, the higher the mortgage rates and less favorable the terms are. Non-QM mortgages are not hard-money loans. […]
This article is about 2021 NON-QM Loans And Guidelines On Purchase And Refinance Transactions Gustan Cho Associates are very optimistic about 2021. Despite the coronavirus pandemic, 2020 was a historic year for the housing and mortgage markets. Home prices continue to rise despite the coronavirus economic impact due to the high demand. There is more […]
This Article Is About NON-Traditional Self Employed Mortgage Borrowers Guidelines NON-Traditional Self Employed Mortgage Loans are now available. Self-employed borrowers had a rather difficult time qualifying for home loans. This is due to the write-offs they are able to utilize as self-employed borrowers. Lenders go by adjusted gross income after all unreimbursed expense deductions. This […]
This Article Is About Chicago Mortgage Loans For Self Employed Individuals Many folks in the Chicago Area are business owners and/or self-employed. If you are one of the many self-employed borrowers who had a hard time qualifying for a mortgage loan over the years, you are in luck. The great news is Gustan Cho Associates […]
This Article Is About Mortgage Insurance Premium On NON-QM Mortgage Loans Lenders will require a mortgage insurance premium on borrowers who have less than 20% equity in their home purchase. The mortgage insurance premium is commonly referred to as MIP. MIP is paid by the borrower for the benefit of the lender. Mortgage insurance premiums […]
This Article Is About NON-QM Mortgage Processing Versus Traditional Home Loans NON-QM Loans are alternative financing mortgage programs. Borrowers who do not meet government and/or conforming mortgage guidelines can now qualify for non-QM loans. NON-QM Loans are not insured by any government agencies. They also do not need to conform to Fannie Mae and/or Freddie […]
This Article Is About Alternative Lending & NON-QM Mortgage Guidelines: The 2008 Real Estate & Lending Collapse of 2008 has completely eliminated the subprime mortgage markets. However, with the creation of alternative lending & non-QM mortgages, many homebuyers and real estate investors can now qualify for non-traditional mortgages. Borrowers of subprime loans were not able […]
This Article Is About Refinance Home Loans Guidelines And Benefits For Homeowners: Homeowners Have Many Reasons To Consider To Refinance Home Loans At Today’s Historic Low Rates. Home prices have skyrocketed in the past several years. Homeowners are sitting on substantial equity in their homes. Many are able to do a cash-out refinance and pull […]
The asset-depletion mortgage loan program benefits higher net worth individuals who do not have a regular steady income. Non-QM loans are becoming increasingly popular and benefit borrowers who need alternative nontraditional mortgage loan programs.
Many people reestablish themselves sooner than others after bankruptcy and foreclosure. These folks can qualify for a mortgage sooner than the mandatory waiting period on government and conventional loans. Gustan Cho Associates has non-QM loans one day out of bankruptcy and foreclosure with a 30% down payment.