In this blog, we will cover and discuss buying house while in Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a five-year repayment plan prior to a discharge. Homebuyers no longer have to wait until the bankruptcy has been discharged to qualify for a mortgage. The bankruptcy trustee needs to sign off on the mortgage. Most […]
In this blog, we will be covering mortgage credit scores used by lenders to qualify borrowers. We all know the importance of credit scores when it comes to the mortgage application process. Borrowers get confused and do not know why lenders require credit scores and credit reports from the three major credit reporting agencies. What […]
In this article, we will cover and discuss getting approved for a new home loan after having a prior mortgage included in Chapter 7 Bankruptcy. There are instances where people will include a home loan when they file for bankruptcy. There are waiting period requirements after a bankruptcy and foreclosure. However, what is the waiting […]
In this blog, we will cover and discuss mortgage loan programs with no overlays and closing in 30 days. The majority of mortgage lenders have their own overlays. There are not too many lenders who have Mortgage Loan Programs With No Overlays. Lender overlays are additional mortgage guidelines imposed by lenders that are above and […]
Lenders charge higher rates for high-risk borrowers called loan level pricing adjustments. Loan level pricing adjustments is also referred to as LLPAs.
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 […]
In this blog, we will cover and discuss the Fannie Mae mortgage included in bankruptcy guidelines on conventional loans. We will further detail and discuss bankruptcy and foreclosure mortgage guidelines on government and conventional loans. There are different waiting period requirements to qualify for a home loan after bankruptcy. The waiting period requirements depend on […]
Gustan Cho Associates are experts when analyzing consumer credit reports. Since we do not have lender overlays, we see all types of credit scores. Many loan officers can close a 780 credit score, 20% down payment, and W-2 income borrower in their sleep. The same is true with our team. However, we specialize in helping […]
In this blog, we will cover and discuss 9 reasons why to buy a townhouse for first-time homebuyers. Homebuyers often compare buying townhouses versus single-family homes. There are many benefits of buying a townhouse versus single-family homes. Many first-time homebuyers automatically believe that buying a townhouse is cheaper than buying a single-family home This may […]
In this blog, we will cover and discuss the VA home loan eligibility requirements for home purchases. VA home loans are the best mortgage loan program in the United States. The United States Department Of Veteran Affairs (VA) is the government agency that is in charge of the VA loan program. Department of Veterans Affairs […]
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