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ByGustan Cho
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Qualifying for FHA loan after foreclosure is now possible for homebuyers who meet the mandatory waiting period after foreclosure. Fannie Mae and Freddie Mac are the two mortgage giants that are in charge of setting standards and lending guidelines on Conventional loans. Fannie Mae and Freddie Mac categorize foreclosure and deed in lieu of foreclosure…
ByGustan Cho
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This guide covers the frequently asked question is a 120-day mortgage late payment considered foreclosure. One of the biggest fears for home buyers late on their mortgage payments in the past is the question Is 120 day mortgage late considered foreclosure? I get countless calls throughout the year from mortgage borrowers who were told they…
ByAlex Carlucci
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In this article on the difference between a direct versus correspondent lender, we will explore the advantages and disadvantages of each choice when seeking a mortgage for a home. There are several different types of lenders, and depending on each borrower’s credit and income profile, choosing a specific lender may be more beneficial than going…
ByGustan Cho
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This article concerns securing a home loan with bad credit in Indiana with no overlays. Indiana home values are skyrocketing due to the booming housing market, which is experiencing strong demand from homebuyers and keeping builders busy. The demand for homes far exceeds the available inventory. Indiana boasts one of the highest population growth rates…
ByGustan Cho
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This guide covers buying house in community property states. Buying house in community property states can be tricky on certain loan programs. Thousands of Americans live in a community property state and may not understand how this can impact buying a home until they apply for a mortgage. In community property states, each spouse has…
ByGustan Cho
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In this article, we will cover and discuss home loans in South Carolina for homebuyers with bad credit and low credit scores. Not all South Carolina mortgage lenders have the same lending requirements on government and conventional loans. Most lenders in South Carolina will have higher lending requirements called lender overlays on FHA, VA, USDA,…
ByGustan Cho
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This guide covers paying down credit cards during mortgage process due to high debt-to-income ratios. Debt-to-income ratios are one of the most important factors in the mortgage approval process. Paying down credit cards during mortgage process should be done if possible. High DTI borrowers should pay off all higher credit card balances before starting the…
ByGustan Cho
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In this blog, we will discuss and cover bad credit mortgage lenders in Rhode Island for borrowers with bad credit and credit scores down to 500 FICO. Not all lenders in Rhode Island are the same. They may have the same loan programs but different guidelines. Many Rhode Island homebuyers with bad credit apply for…
ByAlex Carlucci
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In this blog, we will cover and discuss qualifying for a mortgage with unpaid collections in Wisconsin in 2022. Many homebuyers are being told they cannot qualify for a mortgage with unpaid collections in Wisconsin. Old collections do not have to get paid to qualify for government or conventional loans in Wisconsin. Not all lenders…
ByGustan Cho
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This guide covers FHA versus conventional mortgage rates on purchase and refinances transactions. One of the most common questions the team at Gustan Cho Associates is how are FHA versus Conventional mortgage rates. Not all borrowers get the same mortgage rates. Prime borrowers will get the best mortgage rates and terms. Prime borrowers have at…
ByGustan Cho
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This article covers the mortgage rate lock process and how to decide when to lock in a mortgage. You cannot close your mortgage without locking your interest rate when your lender gives you a mortgage rate quote that tells you what rate is available to you that day. But your mortgage rate is not guaranteed…
ByDale Elenteny
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In this article, we will cover and discuss mortgage options for homebuyers in Idaho with bad credit and low credit scores. Many homebuyers in Idaho, especially first-time home buyers, do not realize that they can qualify for a home loan with bad credit. Gustan Cho Associates are mortgage brokers licensed in 48 states, including Washington,…
ByGustan Cho
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Washington NON-QM Lenders are offering multiple non-prime loans throughout the state. Homebuyers in Washington state no longer are tied with government and conventional loans. Washington Non-QM lenders can offer a selection of various non-QM and non-prime mortgage loan options for owner-occupant, second homes, and investment properties. No-Doc mortgage loans are becoming increasingly popular for homebuyers…
ByAlex Carlucci
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In this article, we will cover and discuss qualifying and getting approved with the best New Hampshire Mortgage Lenders for bad credit after being denied by another lender. Not all lenders have the same lending requirements on government and conforming loans. Many borrowers looking for the best New Hampshire mortgage lenders for bad credit unknowingly…
ByAlex Carlucci
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In this article, we will cover and discuss the final walk-through prior to home closing. A Final Walk-Through Prior To Home Closing To Inspect Home option is given to all home buyers. It is not mandatory for a home buyer to do a final walk-through prior to home closing. However, it is highly recommended that…
ByGustan Cho
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Jumbo Mortgages are home mortgage loans that are higher than the conforming loan limit. The conforming loan limit for 2024 is $766,550. Conforming mortgage loans are mortgage loans that conform to Fannie Mae and Freddie Mac Guidelines. Fannie Mae and Freddie Mac have caps on conforming loan limits. Every year, the Federal Housing Finance Agency…
ByGustan Cho
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In this blog, we will be covering pre-qualifying borrowers with bad credit for mortgage loans. This article on pre-qualifying borrowers with bad credit for mortgage loans is a resource mortgage guide for borrowers and loan officers. New loan officers need to understand that the pre-approval process is the most important stage of the mortgage process….
ByGustan Cho
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Mortgage Rates have dropped has dropped again after the sudden surge in recent weeks.
ByGustan Cho
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This guide covers the minimum credit score mortgage guidelines on home loans. Income, credit, credit history, and credit scores are all determinants to qualify for mortgage loans. Every loan program has minimum credit scores mortgage loan programs. The single most important factor in whether or not borrowers qualify for a certain type of loan program…
ByGustan Cho
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Non-QM mortgage rates are determined by the down payment, credit scores, credit history of the borrower, and type of property. The higher the credit score and the higher the down payment, the lower the mortgage rates.
ByGustan Cho
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In this blog, we will cover and discuss qualifying for FHA loans Colorado with bad credit and credit scores down to 500 FICO. The Colorado housing market is booming. Home prices are skyrocketing with no sign of a correction. There are more homebuyers than an inventory of homes. It is no doubt a seller’s market…
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