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ByGustan Cho
Posted on
This guide covers the recovery of housing market and updates new mortgage guidelines and loan programs. Many of us remember the good old days of easy financing from the 90s until the real estate and mortgage meltdown of 2008. The Great Recession of 2008 hit everyone. Never in history since the Great Depression have so…
ByEric Jeanette
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This guide covers home loan after foreclosure waiting period guidelines to qualify for a mortgage. Millions of homeowners have had foreclosures in recent years. There are waiting period requirements to qualify for a home loan after foreclosure with government and conventional loans. Non-QM loans do not have any waiting period requirements after foreclosure. Foreclosure rates…
ByGustan Cho
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This guide covers common mortgage overlays on government and conventional loans. There are two types of mortgage guidelines. All borrowers must meet Agency Guidelines by FHA, VA, USDA, Fannie Mae, and Freddie Mac—lender overlays by mortgage companies. Mortgage lenders can impose their lending requirements above and beyond the minimum agency guidelines called lender overlays. Most lenders…
ByGustan Cho
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This guide covers the best time to purchase a home for first-time homebuyers. Many homebuyers ask when is the best time to purchase a home. The decision on the best time to purchase a Home is equally important to the overall home buying process. Frequently asked questions by buyers are the following: When is the…
ByJohn Strange
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This guide covers choosing a loan officer with no mortgage lender overlays. This guide will discuss watching out for these seven red flags when choosing a loan officer. Buying a home could be stressful if you choose an inexperienced loan officer. There should not be stress during the mortgage process. Stress in the mortgage approval…
ByGustan Cho
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This guide covers calculating monthly mortgage payment on a home purchase. Many first-time homebuyers think they need a lot of money to purchase a home. When they see that homes average $200,000, they think they could never afford a home and do not consider it. The fact is that you do not need much money…
ByGustan Cho
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This guide covers the frequently asked question: do all lenders have the same guidelines on VA loans? One of the most common questions the team at Gustan Cho Associates gets daily is: Do all lenders have The same guidelines on VA loans? The simple answer to this question is no. Not all lenders have the…
ByGustan Cho
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This guide covers buying a home with a well and septic versus public water and sewer. Buying a home with a well and septic compared to public water and sewer is often the case when buying a home in a rural area. The coronavirus pandemic has changed the way we work. Many companies are changing…
ByGustan Cho
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This guide covers solutions for when things go wrong during the mortgage process. The mortgage process can be very stressful. This holds especially for borrowers with credit issues or higher debt-to-income ratios. Every mortgage loan application is different from the next. Some mortgage files can be tricky. The most important phase is the pre-approval stage…
ByAlex Carlucci
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This blog covers the best Arizona mortgage lenders for bad credit with low FICO credit scores. It is an important question for anyone who is a first-time homebuyer or refinancing a home in Arizona to understand if they can afford an Arizona mortgage loan. Not all mortgage lenders in Arizona have the same guidelines for…
ByGustan Cho
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This guide details the steps of the home mortgage process, from pre-approval to closing. Taking the proper steps of the home mortgage process is necessary to avoid stress and to close on time. The most important steps of the home mortgage process are the qualification and pre-approval steps. The number one reason for stress during…
ByGustan Cho
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This article is about buying a foreclosed home for first-time homebuyers. Buying a foreclosed home is not always a deal. Many home buyers believe that buying a foreclosed home is always a deal. There are times when homebuyers can get a good deal. Many lenders who list foreclosed homes normally do their homework before listing…
ByGustan Cho
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This guide covers qualifying and getting approved for a mortgage for self-employed versus W-2 borrowers. Qualifying for a mortgage for self-employed versus W-2 borrowers has become much easier this year. This is due to the emergence of bank statement mortgage loans for self-employed borrowers. Non-QM loans are now back. In the following paragraphs, we will…
ByMargarett Jurilla
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This guide covers removing judgments off credit report to qualify for and get approved for a mortgage. Borrowers can qualify and get approved for a mortgage with judgments, and tax Liens are the worst derogatory items consumers can have on credit reports. Lenders will not just go off consumer credit reports but will also do…
ByAlex Carlucci
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In this blog, we will cover what no-ratio mortgage loans are. We will discuss how no-ratio mortgage loans work and what types of borrowers benefit from no-ratio mortgage loans. No-ratio mortgage loans are a type of non-QM loan where the lender does not factor in the borrower’s income. No-ratio mortgage loans mean the debt-to-income ratio…
ByAlex Carlucci
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This blog will discuss and cover the types of jumbo mortgage loan programs available at Gustan Cho Associates for homebuyers. Gustan Cho Associates has several types of jumbo mortgage loan programs available. There are prime and nonprime types of jumbo mortgage loan options. If you have been paying attention to the news, you know home…
ByGustan Cho
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This guide covers getting more house for your money with low property taxes. Getting more house for your money is possible. Getting more house for your money for homebuyers can be done by getting a home with lower property taxes. Property taxes vary widely from state to state and county to county. New Jersey has…
ByGustan Cho
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This guide covers how the VA mortgage process work for homebuyers. How the VA mortgage process work? VA loans are the best mortgage loan program for owner-occupant homes. The Department of Veterans Affairs (VA) is the federal agency in charge of VA loans. There are no down payment requirements on VA loans. Lenders offer 100%…
ByMike Gracz
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Freddie Mac’s CHOICERenovation mortgage might be the best home improvement loan for larger renovation projects. You can use a Freddie Mac CHOICERenovation home to purchase or refinance a home.
ByAlex Carlucci
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This guide covers skyrocketing home prices due to the housing shortage facing homebuyers. The U.S. is facing a severe housing shortage of homebuyers and skyrocketing prices. The housing market was booming before the coronavirus outbreak in February 2020. All states had governors exercise their executive stay-at-home orders and were shut down. Under the watch of…
ByGustan Cho
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This guide covers qualifying for a home loan after multiple foreclosures. Homebuyers can qualify for a home loan after foreclosure. There are waiting periods after foreclosure that are mandatory for every mortgage loan program. For example, there is a mandatory waiting period of three years from the recorded foreclosure date to qualify for an FHA…
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