This Article Is About FHA And VA Cash-Out Refinance During Chapter 13 Bankruptcy Many homeowners who file bankruptcy often want to keep their homes and reaffirm their mortgages. By reaffirming the mortgage, it means that the bankruptcy petitioner is willing to keep their home and keep their mortgage payment current. Going forward, reaffirmed mortgages need […]
This Article Is About VA Loans With No Credit Score And DTI Requirements Many borrowers do not know that there are lenders like Gustan Cho Associates that offer VA Loans With No Credit Score And DTI Requirements. The Department of Veterans Affairs does not mandate a minimum credit score nor debt to income ratio cap […]
This Article Is About The Minimum Credit Score For FHA Loans Mortgage Guidelines HUD, the parent of FHA, is the government agency that sets the minimum credit score for FHA Loans as well as other HUD Guidelines. Many of our viewers today are reading this blog because they are getting conflicting reports on what the […]
VA Chapter 13 Mortgage Guidelines During COVID-19 Pandemic If you have been following Gustan Cho Associates, you know that we are open for business during the COVID-19 coronavirus outbreak. We are busier than ever. This is a good sign for the mortgage market. We all hope this pandemic ends sooner than later. There is also […]
This Article Is About How To Write Letter Of Explanations To Mortgage Underwriters Borrowers planning on applying for home loans or are currently going through the mortgage process will encounter underwriters who will require letter of explanations for one or more items in question. This is often the case if borrowers had prior credit issues […]
This Article Is About Cash-Out Refinance Mortgage Loan Eligibility Guidelines Government and Conventional loans offer cash-out refinance mortgage loan programs. Home values have been skyrocketing during the past few years where many homeowners are sitting on substantial equity in their homes. HUD, the parent of FHA allows up to an 80% LTV on cash-out refinance […]
This Article Is About Choosing Conventional Versus FHA Loan Is Necessary Choosing Between Conventional Versus FHA Loan? What is the difference between Choosing Conventional Versus FHA Loan? FHA Loans are by far the most popular loans today. Here are the basics of FHA Loans: FHA Loans are residential mortgage loans that are originated by lenders […]
This Article Is About The FHA Cash-Out Refinance Guidelines And Requirements For Home Purchases And Refinances There are different types of FHA Refinance Mortgage Loan Programs. The first is the FHA Streamline Refinance which a current homeowner with an FHA Loan can do a rate and term. FHA refinance mortgage loans with no credit scores, […]
This Article Is About Qualifying For Jumbo Loans With Lower Credits Scores And 50% DTI Qualifying for jumbo loans with lower credit scores and 50% down payment at competitive rates is possible at Gustan Cho Associates. This is a traditional jumbo loan program with only a 10% down payment requirement. Most lenders will require a […]
This ARTICLE Is About Mortgage Underwriter Errors When Underwriting Borrowers Mortgage Underwriter Errors When Underwriting Borrowers do happen. Underwriters are human and are not perfect. There are thousands of pages when it comes to mortgage agency guidelines that it is impossible to remember it all. Many loan officers often get frustrated when they know a […]
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