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ByGustan Cho
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This guide covers preparing for a VA loan with a lender with no overlays. Preparing for a VA loan with a lender with no overlays during the coronavirus pandemic: The Veterans Administration is the government agency governing VA loans. VA home mortgages are the best mortgage program in the nation. However, not everyone can qualify…
ByAlex Carlucci
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This guide covers understanding the basics on what is a mortgage. We will cover and discuss the meaning of what is a mortgage. Unless you are thinking about buying a new home or are a homeowner thinking about refinancing, most Americans really do not care to know the basic understanding of mortgages. Many folks think…
ByGustan Cho
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Self-employed borrowers are now eligible to get an approve/eligible per automated underwriting system with one-year income tax returns.
ByDale Elenteny
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You must first be eligible. Only servicemembers, honorably-discharged veterans and sometimes their families are eligible. VA underwriting guidelines are flexible, with no minimum credit score an no minimum down payment.
ByGustan Cho
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This guide outlines the advantages of Non-QM loans and Non-Traditional Mortgages. Gustan Cho Associates serves as your reliable ally for Non-QM and Non-Traditional Mortgages. Non-QM and Non-Traditional Mortgages, also known as alternative financing mortgages, are distinct home loan options. These alternative financing loans diverge from the standard lending criteria of traditional government or conventional loans….
ByRonda Butts
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Is Possible To Buying Home In Mississippi With Bad Credit With Lender With No Overlays? Yes, it is at Gustan Cho Associates. Gustan Cho Associates is a mortgage company licensed in Mississippi.
ByGustan Cho
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Gustan Cho Associates has mortgage with no income documentation, no tax returns, and low credit scores. Many folks who have established themselves with good credit and stable income and have decided that they are ready to become homeowners seek to get qualified for a home loan. One of the most important factors lenders look in…
ByDale Elenteny
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In this blog, we will discuss and cover FHA vs conventional cash-out refinance mortgage loans and general rate and term refinance mortgage guidelines. HUD, the parent of FHA, has changed the FHA cash-out refinance guidelines for homeowners from 85% loan to value to 80% LTV. HUD requires FHA mortgage insurance premium on all 30-year fixed-rate…
ByGustan Cho
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Borrowers should not stress during the mortgage process. . There is no reason why there should be stress during the mortgage process.
ByGustan Cho
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This guide covers what is the definition of net tangible benefits for refinancing. When mortgage rates were at a 3-year low, mortgage lenders could not keep up the volume of refinancing loan applications. Experts are anticipating mortgage rates to drop in the coming weeks and months: The Federal Reserve Board (The Fed) has recently did…
ByGustan Cho
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This article discusses the revised VA guidelines regarding charge-offs and collections. According to the VA Guidelines on Charge-Offs and Collections, veteran borrowers may still be eligible for VA home loans even if they have outstanding charge-offs and collections accounts, provided they receive an approved/eligible status from the automated underwriting system (AUS). VA guidelines on charge-offs…
ByGustan Cho
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This guide covers the steps in mortgage process for closing home loan on time. Homebuyers looking to purchase a new home or homeowners looking to refinance their current home loans need to go through steps in mortgage process. The first steps in mortgage process are the qualification and pre-approval stages. The pre-approval stage is by…
ByGustan Cho
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This blog will discuss VA loans with high debt-to-income ratio mortgage guidelines. The team at Gustan Cho Associates gets frequently asked questions about why so many lenders have different debt-to-income ratio caps. Why does one lender cap the debt-to-income ratio on VA loans at 31% front-end and 43% back-end, and a different lender says the…
ByAlex Carlucci
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In this blog post, we’ll delve into the most recent methods to update credit report fast using rapid rescore to boost credit scores and meet mortgage qualifications or secure optimal rates. Lenders usually establish a minimum requirement for different loan programs, making credit scores very important when it comes to qualifying for a mortgage. Moreover,…
ByGustan Cho
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This guide covers how to close on home loan after losing job during mortgage process. We will show you qualifying for home loan after losing job during mortgage process. Losing job during mortgage process does not happen often. However, there are times when it is inevitable and does happen to the best of us. Loss…
ByGustan Cho
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This guide covers mortgage underwriter errors causing borrowers a loan denial. Mortgage underwriter errors do happen. Underwriters are human and are not perfect. There are thousands of pages when it comes to mortgage agency guidelines that it is impossible to remember it all. Many loan officers often get frustrated when they know a particular agency…
ByGustan Cho
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Dozens of non-QM loan programs have been created and launched in recent years. A large percentage of homebuyers who cannot qualify for traditional loans gravitate towards non-QM loans.
ByGustan Cho
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In this blog, we will cover and discuss the credit score mortgage guidelines for home purchase and refinance. What is a Good credit score and credit score mortgage guidelines? Credit score mortgage guidelines vary between mortgage loan programs. All loan programs, with the exception of VA loans, have minimum credit score mortgage guidelines. Lenders look…
ByMike Gracz
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Homebuyers and homeowners can secure Chapter 13 Trustee Mortgage Approval under the Chapter 13 Bankruptcy repayment plan. FHA and/or VA loans are accessible for homebuyers in this phase. Amidst a booming housing market, numerous homeowners find themselves with substantial equity in their properties.. Numerous individuals may need to pay more attention to their home equity….
ByGustan Cho
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This guide covers the difference between FHA and Conventional mortgage guidelines. Many homebuyers, especially first-time buyers shopping for homes often wonder the difference between FHA and Conventional mortgage guidelines. They often do not understand the main difference between FHA and Conventional mortgage guidelines and which loan program is best for them. There are big differences…
ByAlex Carlucci
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This manual addresses the modifications in down payment and self-sufficiency for multi-family properties designated as owner-occupant primary residences by the Fannie Mae Multi-Family Mortgage Guidelines. The Fannie Mae Multi-Family Mortgage Guidelines for 2-to-4-unit residences reduce the down payment obligations for owner-occupant borrowers, decreasing it from 15% to 5%. Two-to-four-unit multi-family investment properties do not apply…
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