VA Loans Ohio
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VA Loans Ohio With Bad Credit And No Lender Overlays

This Article Is About VA Loans Ohio With Bad Credit And No Lender Overlays Ohio is one of the hottest states for homebuyers. This holds especially true for active and retired members of the United States Military. Ohio ranks as one of the highest population states of veterans. All areas of Ohio, especially the Columbus…

VA Automated Findings
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VA Automated Findings On Automated Underwriting System (AUS)

In this article, we will discuss and cover the VA automated findings on the automated underwriting systems (AUS). VA loans has more lenient agency mortgage guidelines than any other loan program. All VA loans need to go through the Automated Underwriting System for VA Automated Findings. What is the Automate Underwriting System (AUS) The Automated…

VA Guidelines Versus Overlays
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VA Guidelines Versus Overlays on VA Home Loans

This blog will discuss and cover VA Guidelines Versus Overlays on VA loans. Not all mortgage lenders have the same requirements for VA loans. All mortgage lenders require their borrowers to meet the minimum VA agency guidelines set by the Veterans Administration. However, lenders can impose stricter lending requirements beyond the VA guidelines. These additional…

VA Chapter 13 Bankruptcy Buy-Out
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VA Chapter 13 Bankruptcy Buy-Out Cash-Out Refinance

This article will discuss the buy-out cash-out refinance option for VA Chapter 13 Bankruptcy. A VA Chapter 13 Bankruptcy buy-out can be accomplished using a cash-out refinance on VA home loans while under a Chapter 13 Bankruptcy repayment plan. The widespread financial hardship caused by the coronavirus pandemic outbreak in February 2020 has significantly affected…

Colorado VA Lenders
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Colorado VA Lenders For Bad Credit With No Lender Overlays

In this article, we will cover and discuss qualifying for a VA loan with low credit scores with Colorado VA lenders with no overlays for bad credit. The Department of Veterans Affairs administers the VA loans Colorado credit and debt to income ratio requirements and guidelines. In this article, we will cover Colorado VA lenders…

FHA Mortgage Loans With No Overlays
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FHA Mortgage Loans With No Overlays FHA Lenders

Gustan Cho Associates is a mortgage company licensed in multiple states, specializing in FHA mortgage loans with no overlays. More than 75% of our clients couldn’t qualify or got turned down by other lenders. While most lenders add extra requirements, or overlays, to FHA, VA, USDA, and conventional loans, we don’t. At Gustan Cho Associates,…

HUD And Fannie Mae Guidelines On Credit Disputes
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HUD And Fannie Mae Guidelines On Credit Disputes

This blog will discuss the HUD and Fannie Mae Guidelines on credit disputes during the mortgage process. We will outline the key points from the most recent updates to the HUD and Fannie Mae guidelines on credit disputes. Credit disputes occur when a consumer finds errors on their credit report that shouldn’t be there. The…

Choosing The Right Mortgage Company
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Choosing The Right Mortgage Company For Loan Officers

This guide covers choosing the right mortgage company for loan officers. Choosing the right mortgage company for loan officers is one of the most important decisions a mortgage loan originator needs to make. John Strange, a senior loan officer at Gustan Cho Associates, explains choosing the right mortgage company for loan officers to start their…

Benefits Of Refinancing During Historic Low Mortgage Rates
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Benefits Of Refinancing During Historic Low Mortgage Rates

It is no secret that mortgage interest rates are at historic lows. The COVID-19 pandemic has affected every global market, including the United States mortgage market. While historic lows are currently experienced in interest rates, all signs indicate an imminent increase. If you have been following the news, you know that the Federal Reserve announced…

FHA Versus Conforming Mortgages
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Comparing FHA Versus Conforming Mortgages

This guide compares FHA versus conforming mortgages, the two most popular mortgage loan programs for homebuyers in the United States. Which program should homebuyers choose? Both have pros and cons. Sometimes, borrowers may qualify for FHA loans instead of conforming mortgages. Conversely, some borrowers who qualify for conventional loans may not qualify for FHA loans….

VA Loans With Under 620 Credit Scores
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VA Loans With Under 620 Credit Scores Guidelines

In this article, we will discuss and explain the guidelines for VA loans with under 620 credit scores. VA loans are considered the best mortgage loan program available for home buyers. However, VA Home Loans are exclusively available to Veterans of the United States Armed Forces who possess a valid Certificate of Eligibility (COE). Importantly,…

Buying a Home in Another State
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Mortgage Qualifications for Buying a Home In Another State

This guide covers how to qualify for a mortgage by buying a home in another state. Buying a home in another state is becoming more and more popular. Many employers now offer remote positions where workers do not have to report to a local brick-and-mortar branch office. Many industries are now either closing many of…

Buying a House Near Mom-and-Pop Shops
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Buying a House Near Mom-and-Pop Shops Versus Giant Retailers

This guide covers buying a house near mom-and-pop shops versus big box retail stores. Are you tired of the same old chain stores and restaurants that seem to dominate every city? Do you crave a unique experience filled with charm, character, and locally-owned businesses? Living and buying a house near mom-and-pop shops are the lifeblood…

Qualifying Borrowers For Mortgage
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Qualifying Borrowers For Mortgage on Purchase and Refinance

This guide covers the process of qualifying borrowers for mortgage on home purchases and refinances. From the application stage to closing, the mortgage process has numerous steps. One of the most crucial steps is qualifying borrowers for mortgage during the initial call. Even though many borrowers may have previously gone through the mortgage process, it…

Home Buyers With Bad Credit
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Home Buyers With Bad Credit Mortgage Options

In this blog, we will cover and discuss the various mortgage options home buyers with bad credit have in qualifying and getting approved on a mortgage loan. We get countless daily calls from home buyers with bad credit asking for advice on the types of mortgage options they have in getting approved for a mortgage….

Layered Risk In Manual Underwriting
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What Factors Are Considered Layered Risk In Manual Underwriting

In this blog, we will be discussing the factors that are considered layered risks in manual underwriting. FHA and VA loans are the two primary loan programs that permit manual underwriting. When a VA or FHA loan receives a refer/eligible finding on the automated underwriting system (AUS), the application can still proceed with manual underwriting….

Non-QM Loans For Self-Employed
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NON-QM Loans For Self-Employed Borrowers

This article will cover qualifying for non-QM loans for self-employed borrowers’ home purchases with no income tax returns. In 2023, over thirty million people were self-employed in the United States. That is about 10% percent of the workforce. Lenders must follow strict and specific guidelines for self-employed borrowers on traditional mortgage loans with traditional income…

Second Home Guidelines
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Second Home Guidelines on Non-QM and Conventional Loans

This guide covers second home guidelines on non-QM and conventional loans. Second-home financing is different than investment properties. Homebuyers are eligible to finance second and investment homes with conventional loans. However, lenders consider investment homes higher risk than second home financing. Therefore, higher risk means higher rates and more down payment. This is why many…

FHA AUS Approval Versus Manual Underwriting
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FHA AUS Approval Versus Manual Underwriting On FHA Loans

This Article Is About FHA AUS Approval Versus Manual Underwriting On FHA Loans  HUD, the parent of the Federal Housing Administration (FHA) has recently changed its algorithms on the Automated Underwriting System (AUS) to make harder to get an approve/eligible per AUS on FHA Loans. This only applies for borrowers with credit scores of under…

Credit in Mortgage Process
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Credit in Mortgage Process: Credit Scores vs Credit Report

This guide covers credit in mortgage process. We will cover the difference between credit scores vs credit reports. Credit in mortgage process is probably one of the most important factors when it comes to residential home mortgages.  There are two ways mortgage lenders view credit. Borrowers need to meet minimum credit score requirements. The minimum…