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ByGustan Cho
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This Article Is About Mortgage Guidelines On Co-Borrowers On Home Purchase Mortgage Guidelines On Co-Borrowers has recently been updated for both FHA Loans and Conventional Loans. FHA allows non-occupant co-borrowers to be added to the mortgage loan of a borrower if the main borrower cannot qualify due to income. There is no limit on the…
ByGustan Cho
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What Are The Waiting Period Requirements On Conventional Versus FHA Loans On Chapter 13 Bankruptcy? There is no waiting period requirements after Chapter 13 Bankruptcy discharged date on FHA loans but Conventional loans require a two-year waiting period.
ByGustan Cho
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This Article Is About How To Buy A Home If I Do Not Have The Down Payment How To Buy A Home If I Do Not Have The Down Payment on home purchase: In general, there are two costs involved in a home purchase The down payment and closing costs Most Americans live paycheck to…
ByGustan Cho
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This Article Is About How To Get AUS Approval With Late Payments After Bankruptcy Most lenders will not accept any mortgage applicants with late payments after bankruptcy and/or housing event (foreclosure, deed in lieu, short sale). Late payments after bankruptcy are frowned upon by mortgage lenders. It is possible to get an approve/eligible per automated…
ByGustan Cho
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This Article Is About Steps In Buying A House And Getting Qualified For A Mortgage Buying a home can be one of the most exciting times in your life, but can also be a very stressful process. A home purchase is one’s biggest investment in a person’s lifetime. A Home Purchase is one of the…
ByAlex Carlucci
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This Breaking News Article Is About States Attracting New Taxpayers Due To Low Taxes And Cost Of Living 2020 is finally over and we are off to a new start in 2021. Americans faced many challenges in 2020. Americans have been able to endure 2020 with the health, economic, and political impact on us as…
ByGustan Cho
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This Article Is About Myths And Truths About Conventional Loans Versus FHA Mortgages What do you believe is the most pervasive myth about conventional mortgage financing? When people think of conventional loans, they think they need a 20% down payment and great credit. This is not true. Conventional loans are not backed by any government…
ByAlex Carlucci
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This Article Is About Documents Required By Lenders To Close Mortgage On Time Most people dread the thought of providing documents required by lenders. The mortgage process does not have to be stressful. The number one reason for delays in the home loan process is due to borrowers not providing documents required by lenders timely…
ByGustan Cho
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This Article Is About FHA Automated Findings With Low Credit Scores And High DTI It will be much more difficult getting an FHA Automated Findings Approval on the automated underwriting system (AUS) this year. HUD, the parent of FHA, has changed its algorithms on the automated underwriting system. The algorithm changes make it much more…
ByGustan Cho
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AUS Approval On Conventional Loans Versus Refer-Eligible Per AUS: There are ways and tricks of the trade to get an approve eligible per automated underwriting system on conventional loans.
ByGustan Cho
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This Article Is About Mortgage Rates Are Still At Historic Lows On Purchase And Refinance: The Dow Jones Industrials have dropped as low as 18,000 during volatile trading from February 2020’s high of 29,000 due to the coronavirus pandemic. The pandemic caused over 43 million Americans out of work. Now the Dow Jones is over…
ByGustan Cho
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Bankruptcy and foreclosure both damage your credit and can make it difficult or impossible to buy or refinance a home. But one is worse than the other.
ByAlex Carlucci
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This Article Is About Home Loan With Low Mortgage Rates On Purchase And Refinance The first thing most homebuyers think about when they have decided to buy a home is mortgage rates. What are the mortgage rates and what is the best mortgage rates they can qualify for? Low mortgage rates mean lower payments and…
ByGustan Cho
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This Article Is About Buying A House During Recession For First Time Home Buyers Buying A House During a Recession For First Time Home Buyers is one of the major concerns. Most home buyers have heard of the 2008 Great Recession and Real Estate Collapse. Home prices have been rising for the past several years…
ByGustan Cho
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This Breaking News Article Is About Mortgage Rates On The Rise Due To Increase Yields On Treasury Many homeowners and homebuyers are concerned about the sudden spike in mortgage rates last week. The sudden increase in the U.S. Treasury has spiked mortgage rates across the board on all different types of loan programs. This alarmed…
ByAlex Carlucci
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This Breaking News Article Is About 10-Year Treasury Yield Surges To A 12-Month High Rising Rates The 10-Year Treasury Yield Surges to a 12-month high on Tuesday, February 18th signaling potential economic bad news for what lays ahead. The 10-Year Treasury Yieldskyrocketed signaling inflation, higher mortgage rates, and a slowdown of the booming housing market….
ByMike Gracz
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This Article Is About Non-QM Mortgages Versus Government And Government Mortgages If you are in the market for a mortgage loan, you may have realized it is hard to qualify if you have had any derogatory items in the past. Many of our clients do not fit your everyday Fannie Mae, Freddie Mac, or FHA…
ByGustan Cho
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This Article Is About Homeowners Who Bailed On Mortgage During Mortgage Collapse Residential home sales have been steadily increased and so have real estate prices. Investor demand has been increasing more so this year than in the past several years and so has consumer confidence in the housing market. Many previous homeowners who have walked…
ByGustan Cho
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This Article Is About Selecting The Best Mortgage Rates When Refinancing Selecting the best mortgage rates can be challenging but will be worth the time invested for a home purchase mortgage loan borrower as well as refinance borrowers. Mortgage rates vary depending on a mortgage loan borrower’s credit scores, debt to income ratios, and loan…
ByAlex Carlucci
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This BREAKING NEWS ARTICLE Is About Illinois Mass Exodus Due To Jobs, Housing, Tax Policy Economic recovery from the coronavirus pandemic is not going too well for Illinoisans. While other states are booming with faster than expected economic recovery from the coronavirus outbreak that hit the nation in February 2020, that is not the case…
ByAlex Carlucci
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BREAKING NEWS: Illinois Leads Nation With Highest Unemployment Numbers More bad news with the Illinois economy. Illinois Leads Nation With Highest Unemployment Numbers again. This was no surprise to both economists as well as Illinoisans. Poor incompetent leadership by Governor JB Pritzker and politicians were to blame. Illinois is one of the first states in…
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