Call or Text: (800) 900-8569
Email Us: alex@gustancho.com
ByGustan Cho
Posted on
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….
ByGustan Cho
Posted on
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,…
ByGustan Cho
Posted on
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…
ByRonda Butts
Posted on
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…
ByAnngelli Abenes
Posted on
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…
ByMargarett Jurilla
Posted on
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….
ByAnngelli Abenes
Posted on
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….
ByAlex Carlucci
Posted on
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…
ByGustan Cho
Posted on
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…
ByGustan Cho
Posted on
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…
ByGustan Cho
Posted on
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…
ByAlex Carlucci
Posted on
In this article, we will be comparing FHA loans vs VA loans. VA loans by far are the best mortgage loan program in the nation. The U.S. Department of Veterans Affairs is the federal government agency administering the agency mortgage guidelines on VA loans. The role of the Veterans Administration (VA) and the U.S. Department…
ByGustan Cho
Posted on
In this article, we will cover and discuss non-QM and bank statement mortgage with no income verification. Non-QM and bank statement mortgage loans do not require income verification. Therefore, income tax returns are not required on non-QM and bank statement mortgage loans. Gustan Cho Associates offer a wide variety of mortgage products. Over the past…
ByBrent Norkus
Posted on
This guide covers shopping for insurance for the best premium and terms during the mortgage process. Shopping for insurance is one of the tasks required during the mortgage process. Borrowers need to get a homeowners insurance declaration page to their loan officer prior to the clear to close. Shopping for insurance with the best premiums…
ByMargarett Jurilla
Posted on
In this blog, we will cover and answer the FAQ of can I buy house in Maine with 580 FICO with no active credit accounts. The short answer is yes. The best loan program for lower credit with no active credit tradelines is FHA loans. You can buy a house in Maine with 580 FICO…
ByGustan Cho
Posted on
This guide covers realtors marketing package for home buyers, real estate agents and referral partners. Home buyers rely on their real estate agents for advice, and one of the most important roles of a realtor is to give their home buyers a referral to a loan officer. Giving the wrong loan officer referral partner as…
ByGustan Cho
Posted on
This guide covers how does mortgage process work after being pre-approved. Most folks consult with a loan officer when they are ready to purchase a home. It is unfortunate that many homebuyers, especially first-time home buyers go through stress and many have gotten last-minute mortgage loan denials even though they have prepared for months on…
ByGustan Cho
Posted on
This blog will discuss buying a home and getting a mortgage with bad credit in Nevada. Nevada has many amenities, including no state income taxes, few regulations and restrictions, and plenty of job opportunities. We will discuss consumers’ options for obtaining a mortgage with bad credit in Nevada. Saving for a larger down payment (typically…
ByAlex Carlucci
Posted on
HUD, the parent of FHA, has strict rules on financing home buyers who are buying property flips.
ByMargarett Jurilla
Posted on
Most people don’t know that the VA does not limit the amount that you can borrow. The VA guarantee limits the amount that most lenders will allow with zero down, but with a down payment there are no VA loan limits.
ByPeter Arcuri
Posted on
Austin, Texas has one of the highest in-migration rates in the nation. The Austin housing market is booming. There is a major shortage of housing in Austin, Texas due to the mass migration to this Texas city.
CALL NOW