Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByAlex Carlucci
Posted on
This guide covers buying an investment property using a conventional loan. Buying an investment property using a conventional loan with have tighter restrictions, lower debt-to-income ratio, mortgage loan-level pricing adjustments, and higher rates from Fannie Mae and Freddie Mac. Mortgage giants Fannie Mae with regards to buying an investment property using a conventional loan. Fannie…
ByAnngelli Abenes
Posted on
This guide covers home inspection before proceeding with the mortgage process. A home inspection is an inspection of a home purchased by home buyers where they hire an independent home inspector to go over the subject property with a fine toothcomb. Lenders do not require home inspections. It is voluntary for the buyers to have…
ByGustan Cho
Posted on
In this article, we will discuss VA AUS approval versus manual underwriting on VA loans. VA loans are the best loan program for owner-occupant home buyers. The Department of Veterans Affairs, The VA, is the government agency that insures VA Loans to private lenders who originate and fund VA loans. The Veterans Administration does not…
ByGustan Cho
Posted on
In this blog, we will discuss and cover HUD waiting period guidelines after Chapter 13 on FHA loans. Why is it many lenders say there is a one or two-year waiting period after Chapter 13 discharge date? This is what many home buyers who are in a Chapter 13 Bankruptcy Repayment Plan want to know….
ByGustan Cho
Posted on
In this blog, we will discuss and cover using FHA loans for self-employed borrowers on a home purchase. Using FHA Loans For Self-Employed Borrowers on a home purchase is very popular because of the high debt to income ratio caps. FHA loans allow up to a maximum of a 46.9% front end and 56.9% back…
ByAnngelli Abenes
Posted on
In this blog, we’ll explore the process of working with a loan officer during your mortgage application. Choosing a loan officer and lender carefully is crucial, as the mortgage process can be intimidating. Partnering with a loan officer you can communicate effectively with is essential, making this more than just a necessity—it’s imperative. The mortgage…
ByGustan Cho
Posted on
This guide covers identity theft process during mortgage application process. Identity theft process is one of the fastest growing crimes in America and every consumer should always make sure that their personal credit information is not accessible to anyone. Anyone can be a victim of identity theft process. All the thief needs is the following:…
ByAlex Carlucci
Posted on
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…
ByAlex Carlucci
Posted on
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…
ByDale Elenteny
Posted on
This guide will cover VA loan information guidelines updates for 2023. There are VA Loan Information UPDATES on Guidelines And Requirements on VA home mortgages. The housing market has been booming for the past several years. There is more demand for homes versus inventory. Due to the strong demand for homes, home prices kept increasing…
ByAlex Carlucci
Posted on
Many people have no credit score. This can make getting a mortgage to buy a home harder. However, it’s not impossible. You can re-establish credit after bankruptcy or other serious credit problems. And if you have no credit score at all, lenders can approve you with a non-traditional credit report.
ByGustan Cho
Posted on
This guide covers credit scores and mortgage rates versus pricing adjustments. Credit scores and mortgage rates go side by side. The most important factor in any mortgage loan application process is one’s credit score. Although income, credit, credit history, debts, assets, and liabilities are all important in the mortgage loan application process, the single most…
ByAnngelli Abenes
Posted on
Traversing the landscape of mortgage loans can be an intricate voyage, presenting many options tailored to meet diverse financial requirements. Two common choices for homebuyers seeking financing are FHA (Federal Housing Administration) loans and Conforming High-Balance Mortgage Loans. Throughout this blog, we will dig deep into the features, advantages, and factors to consider for each…
ByAlex Carlucci
Posted on
This guide covers what is PMI on conventional loans. What Is PMI? One of the most common questions I often get asked by my borrowers is what is PMI or private mortgage insurance. There are two types of mortgage insurance: Mortgage insurance premium and private mortgage insurance (PMI). Mortgage Insurance Premium is for FHA Loans….
ByGustan Cho
Posted on
Many homebuyers have substantial value on their 401k. They can use up to 60% of the value of their 401k for their down payment and/or closing costs on their home purchase. The amount used from their 401k is not used for their debt to income ratio calculations.
ByGustan Cho
Posted on
This guide covers housing demand strong despite highest mortgage rates and surging inflation numbers. Home sales throughout the United States remain strong due to a combination of factors. Rumors of higher mortgage rates in the second half of 2021 have not slowed down demand for homes. The reduction of the FHA annual mortgage insurance premium has…
ByGustan Cho
Posted on
This blog aims to explore the difference between correspondent lending and mortgage brokers. A common inquiry we receive regularly pertains to the lender type offering the most favorable rates. The response is straightforward: correspondent lenders aren’t mandated to reveal the yield spread premium in the closing disclosure, and there’s no upper limit on this premium…
BySapna Sharma
Posted on
All mortgage loan programs require a maximum front debt-income ratio and back debt to income ratio. However, conventional loans do not require a front debt to income ratio. VA loans do not have a debt to income ratio requirements. Lenders can have lender over lender overlays on debt to income ratios.
ByJohn Strange
Posted on
This guide covers down payment assistance with CHENOA DPA EDGE PROGRAM. Down payment assistance program can be forgiveable or non-forgiveable. Down payment assistance program can be a monetary grant, assistance, loan, or fund for first-time homebuyers. Part of the American Dream is being able to own a home. The American dream is a term we…
ByGustan Cho
Posted on
This guide covers qualifying for a home mortgage with bad credit. One of the frequently asked questions by our clients at Gustan Cho Associates is, what is bad credit in mortgage terms? What does it mean to have bad credit? Bad credit, in general, can have a lot of meanings. Bad credit mortgage loans are…
ByJohn Strange
Posted on
This guide covers the frequently asked question how do I qualify for private money loan to invest in real estate. We will thoroughly go over how to qualify for private money loan for investment real estate properties. The most important step is to know the general rules is most private and hard money lenders use…
CALL NOW