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ByPeter Arcuri
Posted on
This guide covers how the marriage penalty works. He loves me, he loves me not, he loves me, he loves me not. Imagine what a wonderful world it would be if that was the only dilemma running through one’s head when deciding to tie the knot or not. There are many things to consider when…
ByAnngelli Abenes
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This guide explores the updated Freddie Mac part-time income mortgage guidelines for 2024. The new year has introduced significant changes in the mortgage industry. Freddie Mac has recently made a major announcement regarding its income calculation rules. This blog will outline the new guidelines, their effective date, and how they differ from previous rules. Additionally,…
ByPeter Arcuri
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This guide covers mortgage protection plans. The mortgage protection plan sets up a generational wealth plan and estate plan. The mortgage protection plan can save you thousands of dollars by eliminating all cost except for tax on your home or building. I actually show you innovative ways available to eliminate the taxes also but we…
ByMargarett Jurilla
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In this blog, we will cover and discuss the refinance waiting period mortgage lending guidelines on home mortgages. For homeowners who just closed their homes and who are thinking of refinancing their home loans, there are refinance waiting period requirements on mortgage loans. A home buyer cannot just close on their home loan one day…
ByPeter Arcuri
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This guide covers HUD FHA 203k loans manual underwriting guidelines on renovation loans. HUD FHA 203k loans manual underwriting guidelines allow manual underwriting on FHA loans. Most lenders do not allow manual underwriting on FHA 203k loans . Lenders can have higher lending requirements above and beyond the minimum agency mortgage guidelines of HUD. Lenders…
ByGustan Cho
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Barndominiums is a blend of a barn and barndominium. A barndominium is a portmanteau of “barn” and “barndominium.” Barndominiums are a unique and growing trend in the housing market. These structures are increasingly popular among homeowners seeking practicality and a rustic charm. Barndominiums are metal buildings converted into living spaces, combining a barn’s functionality with…
ByGustan Cho
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This guide covers buying a home from a family member with no down payment or closing costs with a gift of equity. Buying a home from a family member is becoming more and more common. Homebuyers can get a discounted price on a home by buying a home from a family member. This is a…
ByJohn Strange
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In this article, we will cover and discuss homes for heroes mortgage for medical professionals. A few articles have been written by Gustan Cho associates about homes for heroes mortgage for medical professionals. One of the main topics is who is eligible to utilize this program. Anybody who is a “healthcare professional”, but what does…
ByAnngelli Abenes
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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.
ByAnngelli Abenes
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In this article, we’ll talk about reaffirming home loan after bankruptcy, a frequently inquired topic. Milwaukee-based Attorney James Miller of Miller and Miller LLC Attorney at Law is often consulted. It’s a common misconception among homeowners that filing for bankruptcy necessitates immediate eviction from their property. To clarify, here’s what James Miller outlines: Any non-exempt…
ByDale Elenteny
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This guide covers changes in mortgage guidelines on home loans and year-end recap. 2023 was a tough year for the mortgage industry and Gustan Cho Associates. It was a year filled with ups and downs in the housing and mortgage markets. In this guide, we will detail changes in the housing, mortgage, and financial markets….
ByGustan Cho
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This guide covers investmetn home pruchase mortgage guidelines. Investment home mortgage loans can be conventional or non-qm loans. Investment home purchase mortgage loans. If you are planning on getting investment home purchase mortgage loan, then Fannie Mae or Freddie Mac agency guidelines apply. If you are planning on getting non-QM investment home mortgage loans, then…
ByAnngelli Abenes
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This article will explore the HUD CAIVRS Guidelines for FHA loans when obtaining a mortgage. Government-backed mortgage loans are an excellent option, particularly for those who have struggled to qualify for conventional financing. However, there’s a caveat: you can only qualify for these loans if your CAIVRS report is clear. If you need clarification on…
ByDale Elenteny
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In this blog, we will discuss and cover bank statement loans for self-employed borrowers. Non-QM Loans and Bank Statement Loans are back. Gustan Cho Associates is a national mortgage company licensed in multiple states known for its no lender overlays on government and conventional loans as well as the dozens of non-QM loan programs we…
ByAnngelli Abenes
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This guide covers what a clear-to-close on FHA loans means. What does a clear-to-close on FHA loans mean for borrowers? A clear-to-close is the final step of the mortgage process before the home closes. The mortgage underwriter is the person who signs off on the clear-to-close. The clear-to-close is commonly referred to as the CTC….
ByGustan Cho
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This guide covers home purchase versus renting for homebuyers. There are many added benefits to a home purchase versus renting home. Many first time home buyers are gun shy in considering in buying their home. Here are some of the common questions first time home buyers have on home purchase versus renting: The three questions…
ByAnngelli Abenes
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This article analyzes the advantages and disadvantages of buying versus renting in California. The state has some of the highest real estate values nationwide and a similarly high cost of living. Expenses across the board—including taxes, real estate costs, and rent—tend to be higher in California than in other states. On the positive side, workers in…
ByAnngelli Abenes
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In guide covers buying house with new job and gaps in employment. Many homebuyers are concerned about qualifying for a mortgage and buying house with new Job and gaps in employment in the past two years. Many are under the impression that you need to be on the same job for the past two years…
ByAnngelli Abenes
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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…
ByGustan Cho
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This guide covers the reasons for foreclosures. The ability to repay is the most important factor lenders consider when approving a home loan to homebuyers. Even if the homebuyer puts a substantial amount down for the down payment, lenders want to make sure the borrower can comfortably pay their mortgage payments on time. Lenders are…
ByAlex Carlucci
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This guide covers Sacramento California home purchase with bad credit and credit scores down to 500 FICO. Sacramento is the capital of California and is located in the northern-most point of California’s Central Valley. Being the sixth-largest city in California, and home to the Sacramento Kings and the Sacramento River Cats, Sacramento is a very…
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