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ByGustan Cho
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This guide covers buying a house after bankruptcy discharge date. Buying a house after bankruptcy is possible. Many homebuyers think that bankruptcy is the end of the world when it comes to obtaining credit, especially a mortgage. This is not true. Many people have credit scores higher than 700 FICO less than a year before…
ByAlex Carlucci
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This article covers HomeReady versus Home Possible mortgage guidelines. Many homebuyers contact us at Gustan Cho Associates and want to know the difference between HomeReady versus Home Possible. HomeReady conventional loans are offered by Fannie Mae. Freddie Mac offers Home Possible conventional loans. There is no major difference between Fannie Mae’s HomeReady and Home Possible….
ByGustan Cho
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This guide covers the mortgage process timeline from mortgage loan application to closing. There is a mortgage process timeline. The mortgage process timeline is a process. There are steps in the mortgage process. Once you have decided to get a mortgage, whether it is a home purchase or refinancing your current home, there are several stages…
ByAlex Carlucci
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This guide covers solutions for no credit scores on mortgage loan approvals. There are cases where consumers do not have any credit scores because they never applied for credit and have no credit. There are solutions for no credit scores qualifying for a mortgage. This is common for many young folks who have just entered…
ByGustan Cho
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This guide covers taking the next steps after getting a mortgage denial by underwriter. There should be no mortgage denial if the borrower was properly qualified for a home loan. Borrowers need to be very cautious with their finances and credit during the mortgage loan approval process. Make sure not bounce checks or apply for…
ByGustan Cho
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This guide covers preparing to qualify for conventional loans versus other mortgage loan programs. Preparing to qualify for conventional loans is often required for some mortgage borrowers who cannot go with an FHA loan. Every home mortgage program has its own mortgage lending guidelines. There are instances where borrowers cannot take out an FHA loan….
ByAlex Carlucci
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This guide covers preparing and choosing the right vacation for your family. Planning a family vacation takes work, but it can be a lot of fun. Knowing where to look for the best travel deals can be key. It helps to stretch your budget further without sacrificing one minute of the experience. Once you’ve narrowed…
ByGustan Cho
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This guide covers how to review credit report during the mortgage process. We will be discussing how to review credit report for errors before applying for a mortgage. An accurate credit report will avoid delays in the mortgage process and may boost your credit scores. Homebuyers should always review their credit reports before applying for…
ByGustan Cho
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This guide covers paying down credit card balances to boost credit scores and lower high debt-to-income ratios to qualify for a mortgage and get approved for new credit. Debt-to-income ratios are among the most important factors a mortgage underwriter will consider when qualifying borrowers. Paying down credit card balances is the fastest and easiest way…
ByGustan Cho
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This guide covers changes in credit report during mortgage process. Credit scores and debt-to-income ratios determine whether borrowers qualify for a home loan and the type of loan program borrowers qualify for. Lenders do not only go by credit scores. Mortgage underwriters will also review the credit report and the credit history. Late payments in…
ByDale Elenteny
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This guide covers apartment building loans for real estate investors. Gustan Cho Associates are experts in apartment building loans. Apartment building loans fall into the category of commercial real estate loans. They are very popular in today’s market. Most lenders want the borrower to put in a 20% down payment. Others require a 25% down…
ByGustan Cho
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This guide covers the frequently asked question of whether can you get denied for a mortgage with good credit. Income, credit, credit scores, assets, and liabilities are all majorly in the mortgage approval process. Two of the most important factors at the initial mortgage qualifying state are debt-to-income ratios and credit scores. Income plays the…
ByAlex Carlucci
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This guide covers home title insurance policy guidelines by lenders. A home title insurance policy is a contract of indemnity between the insured and the insurance company relating to the title to the land described in the policy. A Home Title Insurance Policy protects the insured against loss or damage because of defects, liens, or…
ByGustan Cho
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This guide covers investing in Chicago real estate. Many homebuyers love the City of Chicago, where they would not consider living other than Chicago or the nearby suburbs. Others will only invest in commercial real estate in Chicago and nearby suburbs. In this guide, we will discuss investing in Chicago real estate. Many people would…
ByAnngelli Abenes
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This guide covers the differences between FICO and VantageScore Credit Scores. We will explain the differences between FICO and VantageScore credit scores in mortgage lending and rebuilding credit. Understanding the differences Between FICO and VantageScore is important when rebuilding credit and applying for a mortgage. FICO and VantageScore are the two most widely recognized scoring…
ByAlex Carlucci
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This guide covers the dream of owning your own home. The dream of owning your own home is a common aspiration for many people worldwide. It represents a significant milestone in one’s life and is often seen as a symbol of financial stability, security, and personal achievement. Here are some key aspects and reasons why…
ByGustan Cho
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This guide covers home repairs. We will thoroughly explain fixing common problems in your home. Your home is your sanctuary, comfort zone, and biggest investment. But remember that it also requires regular maintenance and repairs to keep it in good shape and prevent bigger problems. Whether you’re a homeowner or a renter, you may encounter…
ByPeter Arcuri
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This guide covers refinancing your California mortgage loan during high rates and soaring inflation. California Homeowners Should Explore Refinancing Your California Mortgage Loan. Homes in California took a major hit during the 2008 Real Estate and Credit Collapse. Many homes in California, depending on the county the home is located, where home values dropped 30%…
ByGustan Cho
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This guide covers jumbo home loans of over 5 million. Most lenders will cap jumbo loan limits between $1 to $3 million. Some non-QM wholesale lenders will go up to a cap of 5 million and not exceed the 5 million cap. What if you have home loans of over 5 million? Where do you…
ByPeter Arcuri
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This blog will discuss and cover remote MLO career opportunities. Gustan Cho Associates, empowered by NEXA Mortgage LLC, hires remote loan officers. Remote MLO Career Opportunities are available for experienced full-time loan officers. Loan officers with the following qualify: At least one-year full-time experience Familiar with LOS Systems, whether Encompass, Lending Pad, Calyx Point, or…
ByGustan Cho
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This guide covers student loan forgiveness programs and how to qualify for a mortgage. The weight of student loan debt poses a significant challenge for countless Americans, particularly those aspiring to purchase a home. When taking out student loans, it’s essential to carefully consider the terms and conditions, interest rates, and repayment options. Borrow only…
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