In this guide, Ronda Buts, a dually licensed realtor and loan officer at Gustan Cho Associates and the Editor in Chief of One Solution Real Estate, will cover the importance of home inspections when buying a home. A professional home inspection is essential if you or someone you know is planning to purchase a new…
This guide will cover the mortgage options for investing in real estate in Puerto Rico. Why do many people consider investing in real estate in Puerto Rico? Many people and businesses are looking into mortgage options investing in real estate in Puerto Rico. Whether it is an owner-occupant primary home, second home, investment property, or…
This ARTICLE On Non-Traditional Credit Guidelines Was PUBLISHED On December 10th, 2019 Non-traditional Credit Guidelines on government and conventional loans: Credit scoring models have been around since the 1950s Most Americans do not understand how credit scoring works There are many Americans who do not have a credit score There are multiple reasons why you…
This guide covers whether can you get a new mortgage while selling your house. Many homebuyers who plan on upgrading or downsizing to a new home often ask if can you get a new mortgage while selling your house. YES, you can get a new mortgage while selling your house. With proper planning and teamwork,…
This guide will cover the types of mortgage options for homebuyers. Taking out a loan can be daunting, especially if you need to learn about mortgages. Wendy Lahn, a dually licensed real estate agent, and loan officer, shared the following: For starters, you should know that not all loans are the same, with the main…
Apply Now In this guide, we will cover things to avoid during home loan process to close on time. We have covered many blogs on what to do to get a mortgage loan approval. During home loan approval, borrowers must be pins and needles with their credit and finances. There are several things to avoid…
This article will cover homes for sale by owner. A frequently asked question at Non-QM Mortgage Lenders is whether buying homes for sale by owner is cheaper than buying a listed home with a real estate agent. Buying homes for sale by owner is generally cheaper because home sellers do not have to pay the…
This blog will cover understanding the loan estimate during the mortgage loan process. The main purpose for the CFPB to launch the loan estimate is to encourage home buyers to compare and shop for costs and fees from other mortgage lenders before deciding which lender to go with. The purpose of the Loan Estimate is…
This article will cover 1099 wage earner guidelines on home mortgages. Whether you are getting an FHA, USDA, VA, or conventional loan, all lenders will go by the same mortgage process regarding income and employment. Independent Contractors and 1099 Wage Earner Guidelines can qualify for a home. Workers must have at least two years working…
Apply Now This guide will cover qualifying for a mortgage after deed-in-lieu versus foreclosure. Government loans treat a short sale and deed-in-lieu versus foreclosure differently concerning the mandatory waiting period to qualify for a mortgage. There is a mandatory waiting period after housing events with government and conventional loans. A housing event is the following:…
This blog will cover mortgage escrow guidelines required by mortgage lenders. In the following sections, we will cover what mortgage escrows are, how escrows work, and what mortgage escrow guidelines are. Ronda Butts of Non-QM Mortgage Lenders explains mortgage escrow guidelines as follows: Lenders set up escrow accounts to ensure homeowners pay their property taxes…
In this blog, we will cover and discuss fixed-rate versus adjustable-rate mortgage. For a first-time homebuyer or even a seasoned veteran home buyer, applying for a home loan can be a very stressful process. Homebuyers will most likely have a lot of questions not just for their realtors but for their loan officers. Most consumers…
This article on Loan Modification Requirements Illinois Loan Modification Requirements: Homeowners who have trouble making their mortgage payments due to job loss, divorce, or due to other unusual financial setbacks, they might want to consider an FHA loan modification: For a homeowner to qualify for an FHA loan modification, the mortgage loan currently have on…
The Federal Reserve Board has recently announced that the Fed has made its decision to slow down: The Central Bank will eventually stop buying mortgage bonds and treasury bonds The action of the Central Bank can have a great impact on the mortgage industry It can affect mortgage rates nationally After 7 years of aggressively…
In this blog, we will discuss why Gustan Cho Associates is hands down the best mortgage lenders with no overlays in Indiana for 2022. Gustan Cho Associates | Empowered by | NEXA Mortgage, LLC | are now able to offer our services in the state of Indiana. During a recent transition to our new regional…