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ByAlex Carlucci
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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
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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
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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
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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
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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
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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
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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
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HUD, the parent of FHA, has strict rules on financing home buyers who are buying property flips.
ByMargarett Jurilla
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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
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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.
ByAlex Carlucci
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This guide covers the home appraisal process timeline during the mortgage process. Gustan Cho Associates will update you on the appraisal process timeline during these tough times. The post-coronavirus ERA, times of soaring rates, out-of-control inflation, and a shortage of home inventory has affected every industry, including the real estate and mortgage sectors. In times…
ByRonda Butts
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This guide covers selling house in bad market during period of high inflation and skyrocketing mortgage rates. Despite high mortgage rates, high inflation, and a deteriorating overall economy, the housing market is still booming. Home prices are increasing. In general, there is more demand for homes versus inventory. Dale Elenteny, a 30-year veteran of the…
ByAlex Carlucci
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This guide covers bankruptcy for Illinois may be a possible solution to save the state. Bankruptcy for Illinois may be an option for the state due to their many years of financial mismanagement. Illinois, along with a few other states, has been struggling with budget deficits for many years. Prior to the coronavirus pandemic, the…
ByAnngelli Abenes
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This Article Is About Home Loan With Declining And Irregular Income Mortgage Guidelines. There are ways on how mortgage underwriters qualify borrowers who need a home loan with declining and irregular income. Although home loan with declining and irregular income can be done, it all depends mainly on the mortgage underwriter underwriting the file. Many…
ByAnngelli Abenes
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This guide covers VA guidelines on co-borrowers for VA loans. We will discuss the VA guidelines on co-borrowers. Income is one of the most important factors when qualifying for VA loans. VA loans have specific mortgage lending guidelines for co-borrowers and are different than any other mortgage loan programs regarding co-borrowers. Dale Elenteny, a senior…
ByAnngelli Abenes
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NON-QM jumbo loans are alternative mortgage loan programs for owner-occupant primary homes, second homes, and investment properties. Most non-QM loans do not have maximum loan limits. Any non-QM or alternative lending products with a loan balance higher than the 2023 conforming loan limit of $726,200 is called or often referred to as non-QM jumbo loans….
ByAnngelli Abenes
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This Article Is About Ways Of Avoiding Stress During Mortgage Process And Close On Time There is no reason why borrowers should experience stress during mortgage process. Avoiding stress during the mortgage process is possible. Borrowers place their trust and faith in their loan officers to ensure their pre-approval is solid. However, like in any…
ByAlex Carlucci
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In this blog, we will cover and discuss the steps to buying your first home in Wyoming. Buying your first home in Wyoming should not be stressful. It should be an exciting point in your life where you are making your single largest investment and starting a new chapter in your life as a homeowner….
ByAnngelli Abenes
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This guide covers how mortgage brokers get paid on closed home loans. Mortgage brokers, loan originators, or loan officers are licensed professionals. Mortgage Brokers assist mortgage loan borrowers to qualify for home loans. Brokers are third-party consultants who match direct lenders with borrowers, Mortgage brokers match borrowers with direct lenders that meet the lender’s mortgage…
ByAlex Carlucci
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This Article Is About How Loan Officers Qualify Borrowers And Issue Pre-Approvals. Understanding how loan officers qualify borrowers is crucial in the mortgage process. The pre-approval process is the most critical stage, setting the foundation for the mortgage journey. Often, last-minute loan denials occur because the loan officer initially needed to adequately qualify the borrowers. The mortgage industry is…
ByPeter Arcuri
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In this blog, we will cover and discuss the FHA 203k contractor role for homeowners on FHA 203k loans. The U.S. Department of Housing Administration (HUD) is the parent of the Federal Housing Administration (FHA). HUD created and implement the FHA 203k Mortgage Program to promote the revitalization of housing in neighborhoods throughout the U.S….
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