In this blog, we will cover and discuss bad credit home loan with no overlays and low credit scores. Many hard working Americans were affected by the real estate and credit collapse of 2008. Many business owners had to close their businesses, many lost jobs due to corporate layoffs. Many had to settle with new…
In this blog, we will discuss and cover the recent late payments mortgage guidelines with non-QM loans. Mortgage borrowers can qualify for traditional government and conventional loans with prior bad credit. Outstanding collections and charge-off accounts do not have to be paid off to qualify for government and conventional loans. Home buyers can qualify for…
In this blog, we will discuss and cover FHA guidelines on collections charge-off accounts. The United States Department of Housing and Urban Development (HUD) is the parent of the Federal Housing Administration (FHA). FHA is not a lender. The Federal Housing Administration is a government agency under HUD. The role of HUD is to insure…
This Article Is About Mortgage Qualification Requirements For Home Loan Programs There are government and conventional loans. There are also non-QM and alternative financing loan programs. Every loan program has its own lending requirements. If a borrower cannot qualify for a government and/or conventional loan because of a recent bankruptcy, Gustan Cho Associates has non-QM…
This ARTICLE Is About Builders Steering Home Buyers To Preferred Lenders Using Gustan Cho Associates over a preferred lender: Gustan Cho Associates are highly interested in earning your business with competitive interest rates and outstanding customer service. Your realtor may be reluctant to use their preferred lender. Or if you are in the process of…
This Article Is About IHDA Student Loan Mortgage DPA Homebuyer Program Gustan Cho Associates is excited to update our readers on down payment assistance programs available through the state of Illinois. This blog details some new changes for the year 2021 with the IHDA program offered throughout the state of Illinois. Down payment assistance programs…
This BLOG On Tips To Fast Mortgage Clear To Close And Closing On Time Was PUBLISHED On June 28th, 2020 A mortgage clear to close is when the lender has signed off on the mortgage loan. The lender is ready to send the closing documents out to the title company and fund the loan so…
This BLOG On Buying Home Without Spouse On The Home Mortgage Was PUBLISHED On June 27th, 2020 Married couples do not always have to have joint ownership of assets, especially in their home purchase. Buying home without spouse on the mortgage note and the title is permitted by lenders Prenuptial agreements are becoming more and…
This BLOG On Home Loan With New Job Mortgage Guidelines And Requirements Was PUBLISHED On June 23rd, 2020 Income and employment is probably the most important factor when it comes to qualifying for a mortgage loan. Borrowers can have the best credit scores and payment history in the world but if they do not have…
This Article On First Time Home Buyers Frequently Asked Questions First Time Home Buyers Frequently Asked Questions: How is borrowers’ credit score? Do borrowers meet the minimum credit score? Borrowers credit score and income are the two most important factors when it comes to qualifying for a home loan Gustan Cho Associates and most other lenders will…
NON-QM mortgage lending has come back in full swing. As agencies are tightening their guidelines, we are seeing more and more NON-QM loan products come out they can help thousands of Americans obtain a mortgage In this blog, we will detail what a NON-QM mortgage loan means, some of the specialty NON-QM programs, and how…
This Article On Homepath Renovation Mortgage Financing Guidelines Was UPDATED And PUBLISHED On July 19th, 2019 The HomePath Renovation Mortgage was extremely popular at one time. This is where a home buyer can purchase a HomePath property which are properties that are owned by Fannie Mae HomePath homes are homes that have been foreclosed upon and…