FHA Jumbo Loans While In The Chapter 13 Bankruptcy
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FHA Jumbo Loans While In The Chapter 13 Bankruptcy

In this blog, we will cover and discuss qualifying for FHA jumbo loans while in the Chapter 13 Bankruptcy repayment plan. FHA jumbo loans are also called FHA high-balance loans. HUD, the parent of HUD, is the federal agency that sets the maximum FHA loan limits in standard and high-cost areas throughout the United States….

Home Loans in Virginia
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Home Loans in Virginia For Bad Credit and 550 FICO Scores

Homebuyers have many mortgage options when looking for home loans in Virginia for bad credit and low credit scores. The best home loans in Virginia for bad credit and credit scores down to 550 FICO scores are FHA and VA loans. Unfortunately, not all people are eligible for VA loans. FHA loans are the most…

Getting Pre-Approved Prior To Moving To Utah
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Getting Pre-Approved Prior To Moving To Utah

Gustan Cho Associates is a mortgage broker licensed in 48 states (Not licensed in NY, MA) with a wholesale lending network of 170 wholesale financial institutions. Utah is one of the fastest-growing states in the nation, with more and more families calling Utah home.  Our team is currently focused on expanding our coverage area throughout…

South Dakota FHA Lenders For Under 600 FICO With Collections
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South Dakota FHA Lenders For Under 600 FICO With Collections

In this blog, we will cover and discuss qualifying for FHA loans with South Dakota FHA lenders for under 600 FICO with outstanding collection and charged-off accounts. The United States Department of Housing and Urban Development, also known as HUD, is the parent of the Federal Housing Administration, commonly referred to as FHA. Not all…

Mortgage Denial For Late Payments During Chapter 13 Plan
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Mortgage Denial For Late Payments During Chapter 13 Plan

In this blog, we will cover and discuss qualifying for a mortgage with new lenders after getting mortgage denial for late payments during Chapter 13 repayment plan. Not all lenders have the same mortgage guidelines on government and conventional loans. A mortgage denial for late payments during Chapter 13 plan is normally a dead issue…

FHA Loan Denied For Low Credit Scores in Ohio | AUS Approval
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FHA Loan Denied For Low Credit Scores in Ohio | AUS Approval

In this article, we will cover and discuss the options homebuyers have after they got an FHA loan denied for low credit scores in Ohio with an approve/eligible per automated underwriting system. One of the misconceptions consumers have is that all lenders have the same lending requirements on FHA loans since they are government loans….

Conventional Loans Versus Government-Backed Mortgages

Conventional Loans Versus Government-Backed Mortgages

In this blog, we will cover and discuss conventional loans versus government-backed mortgages and the differences. Conventional loans are the most popular loan program in the United States. Owner-occupant primary homes, second homes, and investment properties are eligible for conventional loan financing. Owner-occupant primary one to four-unit homes is eligible for government-backed loans. You cannot…

Buying Condominium Versus Single-Family Homes Mortgage Guidelines

Buying Condominium Versus Single-Family Homes

In this blog, we will cover and discuss buying condominium versus single-family homes. Are you looking to buy a condo? Condominiums are becoming increasingly popular today than ever before due to many reasons Many seniors who own single-family homes are downsizing to condominiums due to maintenance issues. Millennial homebuyers are finding more interest in buying…

How Do Underwriters Approve Mortgage Loans For Borrowers
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How Do Underwriters Approve Mortgage Loans For Borrowers

In this blog, we will discuss and cover how do underwriters approve mortgage loans when analyzing and processing borrowers. Mortgage Underwriters play the most important role in the mortgage process. There are certain ways on how do underwriters approve mortgage loans. Underwriters are professionals who approve or deny mortgage loans. There is no reason why…

Recorded Date In Foreclosure
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Recorded Date In Foreclosure Versus Surrender Date Of Home

In this blog, we will discuss and cover the recorded date in foreclosure versus the surrender date of the home. Borrowers can qualify for a mortgage after a housing event. There are three different types of housing events: Foreclosure Deed in lieu of foreclosure Short sale There is a waiting period after bankruptcy, foreclosure, deed…

Home Loan With Recent Late Payments Mortgage Guidelines
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Home Loan With Recent Late Payments Mortgage Guidelines

In this blog, we will discuss and cover qualifying for a  home loan with recent late payments. For borrowers seeking to try to qualify for a home loan with recent late payments, an FHA loan is the best route to take. FHA loans have extremely loose lending guidelines when it comes to prior bad credit….

Can You Get Pre-Approved In One Hour

Can You Get Pre-Approved In One Hour On A Home Mortgage

In this blog, we will discuss and cover if you can get pre-approved in one hour on a home mortgage. The qualification and pre-approval step of the mortgage process is the most important step. One of the major reasons for stress during the mortgage process or a last-minute mortgage denial is due to the loan…

Fannie Mae Guidelines 2018 On Foreclosures
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Fannie Mae Guidelines On Mortgage After Foreclosure

In this blog, we will discuss and cover Fannie Mae Guidelines on mortgage after foreclosure on conventional loans. Fannie Mae and Freddie Mac are the two mortgage giants that set conventional mortgage requirements. Conventional Loans are also called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Guidelines. Government Loans are…

HUD guidelines on deferred student loans
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HUD Guidelines On Student Loans Versus Other Mortgage Programs

In this blog, we will discuss and cover HUD guidelines on student loans versus other mortgage programs. The Federal Housing Administration, FHA, has changed the HUD guidelines on student loans. HUD, the parent of FHA is excluding deferred student loan payments that have been deferred for more than 12 months from the calculations of debt…

Cash-Out Refinance Mortgage Rates
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Lenders With The Best Cash-Out Refinance Mortgage Rates

Cash-out refinance mortgage rates are higher than rate and term refinance rates.  Cash-out mortgage rates are substantially higher for homeowners with lower credit scores. The combination of historic high home prices and record-low mortgage rates is fueling many Americans to do a cash-out refinance mortgage loan and tap into their home equity.  What Do People…

NON-QM Home Loan Guidelines For Borrowers With Bad Credit
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NON-QM Home Loan Guidelines For Borrowers With Bad Credit

This Article Is About NON-QM Home Loan Guidelines For Borrowers With Bad Credit NON-QM Home Loan Guidelines And How It Benefits Borrowers Who Do Not Qualify For Traditional Mortgages: We have all heard the stories of the last-second mortgage denial nightmare. In today’s highly regulated mortgage industry this seems to be a common trend. With…

Recommended Lender By Realtors Due To Its No Lender Overlays Policy
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Recommended Lender By Realtors Due To Its No Lender Overlays Policy

This Article Is About Recommended Lender By Realtors Due To Its No Lender Overlays Policy  In this article, we will be covering and discussing the recommended lender by realtors and why real estate agents loves the team at Gustan Cho Associates. If you are a real estate professional, you understand how competitive and cutthroat this…

Coronavirus Pandemic Impact On Lenders
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Coronavirus Pandemic Impact On Lenders And Borrowers

In this blog, we will cover and discuss the coronavirus pandemic impact on lenders and borrowers. Gustan Cho Associates encourage our readers to take the necessary precautions to keep themselves and their loved ones as safe as possible during these times of uncertainty. This worldwide pandemic is something I have never seen in my lifetime….

LLPA During Coronavirus Pandemic Mortgage Crisis
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LLPA During Coronavirus Pandemic Mortgage Crisis

This Breaking News Is About LLPA During Coronavirus Pandemic Mortgage Crisis. Understanding LLPA During Coronavirus Pandemic Mortgage Crisis. The coronavirus pandemic has created disruption and chaos in the secondary mortgage bond markets. Loan Level Pricing Adjustments are commonly referred to as LLPA. LLPA’s are pricing adjustments on mortgages. Lenders determine mortgage rates based on risk…

NON-QM Loans For Real Estate Investors Qualification Requirements

NON-QM Loans For Real Estate Investors Mortgage Options

This Article Is About NON-QM Loans For Real Estate Investors Qualification Requirements  Gustan Cho Associates now offers NON-QM Loans For Real Estate Investors. Until the creation and launch of NON-QM Loans For Real Estate Investors, most investors relied on high-interest hard money loans. Real estate investors relied on using hard money loans with interest rates higher…