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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…
ByGustan Cho
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This Article Is About What Do Underwriters Look On Credit Report Besides Credit Scores Credit scores is the biggest factor in determining mortgage rates. Credit scores also determines whether or not borrowers qualify for certain mortgage loan programs. However, just meeting the minimum credit score requirement is not a ticket to mortgage approval. Below Are…
ByAlex Carlucci
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BREAKING NEWS: How Presidential Election Uncertainty Affects The Housing Market How Presidential Election Uncertainty Affects The Housing Market: As of today, Americans do not know who the next President of the United States will be The Trump Administration is alleging not just voter fraud but election fraud in the 2020 Elections Lead Trump Attorneys Rudy…
ByGustan Cho
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This Article Is About The Steps In The Underwriting Process Steps In The Underwriting Process By Mortgage Lenders: Most mortgage lenders have similar steps in the underwriting process. However, each lender may have its own steps on how they process a loan from the time the homebuyers turns in the executed purchase contract to closing…
ByMike Gracz
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This Article Is About Tax Cut And Jobs Act And How It Affects Mortgage Guidelines Well, we all survived the first tax season with the new Tax Cut and Jobs Act. There are quite a few changes with the current tax law. The current Administration is attempting to fix loopholes with the tax system This…
ByGustan Cho
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This Article Is About Exempt Debts From Debt To Income Ratio To Qualify For Mortgage There are certain Exempt Debts From Debt To Income Ratio. Borrowers with high debt to income ratios with debts that are co-signed and/or debts someone else is paying can get those debts exempt from DTI calculations The borrower needs to…
ByAlex Carlucci
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This Article Is About Cook County Property Taxes Soaring To 20-Year Record High Cook County Property Taxes Soaring at historic record pace since 2000. Cook County is the largest county in Illinois It is also the most populous out of any county in Illinois Cook County covers the city of Chicago Lake and Cook County…
ByGustan Cho
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This Article Is About Us at Gustan Cho Associates: We Are A National Mortgage Company Licensed In Multiple States With No Lender Overlays On Government And Conventional Loans: Gustan Cho Associates is a national five-star mortgage company licensed in multiple states with no lender overlays on government and conventional loans. The team at Gustan Cho…
ByAlex Carlucci
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This Article Is About How Do Principal Payments Work On Home Mortgages One of the most frequently asked questions by first-time homebuyers often ask How Do Principal Payments Work On Home Mortgages. The two basic components that make up a monthly mortgage payment are principal and interest Every month, when homeowners make their scheduled monthly…
ByAlex Carlucci
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BREAKING NEWS: The impact of the coronavirus outbreak on Non-QM lender. The impact of the coronavirus outbreak on Non-QM lenders hit the mortgage and housing industry hard: All non-QM mortgage companies have halted funding mortgages. Many have already gone out of business. Non-QM loans are alternative mortgages that have been becoming very popular. Many non-QM…
ByGustan Cho
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This Article Is About How Student Loans Affect Qualifying For Mortgage Two types of debts are the biggest hurdles most home buyers will encounter when qualifying for a mortgage loan. They are student loan debts and automobile monthly payments Student loan debts can be tens of thousands of dollars A car payment can be a minimum…
ByMike Gracz
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This Article Is About Advice In Moving Out Of Your Parents House And Buying First Home Tips and Advice In Moving Out Of Your Parents House and buying a first home: Let’s face it, living with your parents has its ups and downs I remember when I lived with my mother after college It was…
ByGustan Cho
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This Article Is About Mortgage With High DTI Guidelines On Home Loans Qualifying for a mortgage with high DTI can be very challenging. The reason why qualifying for a mortgage with high DTI is extremely challenging This is because most lenders will have overlays on debt to income ratios This often causes a loan denial…
ByAlex Carlucci
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BREAKING NEWS: Illinois Ranked As Highest-Taxed State In The Nation For Taxpayers Illinois Ranked As Highest-Taxed State In The Nation For Taxpayers and is expected to remain the ranking for many years. While other states are freezing and/or reducing taxes during the coronavirus pandemic, Illinois is doing the exact opposite What kind of idiot raises…
ByGustan Cho
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This guide is an update of a previous article: This guide covers FHFA postpones adverse fee for mortgage refinance loans. FHFA Postpones Adverse Fee until later this year sends mortgage rates lower: Mortgage rates are at historic highs. The housing and mortgage market is in crisis like never in history with high inflation, record high…
ByMike Gracz
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This ARTICLE On VA Co-Signer Mortgage Guidelines On VA Home Loans Was PUBLISHED On August 25th, 2020 2020 UPDATED VA Co-Signer Mortgage Guidelines On VA Home Loans: If you follow Gustan Cho Associates, you know we are experts in VA mortgage financing We offer all of our VA mortgage products without LENDER OVERLAYS Even during…
ByAlex Carlucci
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BREAKING NEWS: Chicago Riots Causing Exodus Of Businesses And Taxpayers The recent Chicago Riots are causing countless businesses to call it quits in Chicago. Not only are businesses fleeing the city, but individual taxpayers had enough with Chicago Chicago, under the leadership of rookie freshman Mayor Lori Lightfoot, is deteriorating fast Chicago is the highest…
ByGustan Cho
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BREAKING NEWS: Housing Market Booming Despite Record High Unemployment Housing Market Booming despite record-high unemployment and the coronavirus outbreak. Never in history has the housing market been so hot despite economic uncertainty and a presidential election in just a few months. Over 50 million Americans have filed for unemployment due to the coronavirus outbreak. With…
ByAlex Carlucci
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BREAKING NEWS: Lightfoot Increasing Taxes Despite Mass Exodus Of Chicagoans The news of Mayor Lori Lightfoot Increasing Taxes has not just skyrocketed individual taxpayers leaving Chicago, but a large percentage of small business owners are planning on leaving as well. Under the leadership of Mayor Lori Lightfoot, Chicago has deteriorated like never before Chicago murder…
ByAlex Carlucci
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BREAKING NEWS: Governor allies indicted and under investigation for corruption. It seems there is no end on public corruption in Illinois after the Governor Allies Indicted. Illinois ranks as the highest corrupt state in the nation. Chicago is hands down the most corrupt city in the nation. Public Corruption Costing Illinois Taxpayers Billions Illinois is…
ByGustan Cho
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This Article On Refinance Mortgage Loans Hit Year High Due To Low Rates Refinance Mortgage Loans is the hottest thing right now. Many mortgage companies are swamped with homeowners trying to refinance their current mortgage loans at lower rates The breaking news the Central Bank lowering rates to zero percent drove mortgage rates at historic lows…
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