What You Need to Know About the Down Payment Requirement in 2024: Your Complete Guide to Home Buying Success Buying a home is one of the biggest milestones in life, but let’s face it—coming up with a down payment can feel like a huge hurdle. Whether you’re a first-time homebuyer or looking to upgrade, saving…
Gift of Equity Mortgage Guidelines: Buying a Home from Family in 2024 If you’re considering buying a home from a family member, the gift of equity mortgage might be the perfect way to make it happen without needing a big down payment. It’s a great option for those looking to keep homeownership in the family…
This article is about Getting Pre-Approved For Mortgage Is First Step Of Home Buying Process In Illinois The mortgage process should not be difficult nor stressful as most first time home buyers believe. As long as you get a proper mortgage pre-approval, the overall mortgage application and underwriting process should not be difficult There is no…
This Article Is About The Mortgage Market Outlook On Mortgage Rates And Regulations 2018 was a great year for the housing and mortgage markets where it is clear and obvious that the housing market has made a major comeback. With the election of President Donald J. Trump, the economy and all economic news went viral…
This BLOG On Benefits Buying Smaller Home Versus Larger Homes Was UPDATED On April 16th, 2019 Buying a home is not like buying a car or other high ticket items. Unless buyers are real estate investors, chances are that if a person is buying a home, they intend in living there for several years, raise a…
This Article Is About 15 Year Versus 30 Year Fixed Rate Mortgage Loans Mortgage borrowers have a choice between 15-year and 30 year fixed rate mortgage loans. All mortgage loan programs have the option of 15 Year and/or 30 Year Fixed Rate Mortgage Loans 15 year home loans mean higher monthly housing payments due to…
This Article Is About Understanding Your Credit Report To Qualify For Mortgage Understanding your credit report is extremely important for not borrowers but for all consumers. A person’s credit report provides information to existing and potential creditors on the credit applicants payment history and patterns. An applicant’s past payment performance and history is a good indicator…
This blog will cover the real estate purchase contract and purchase agreement. A real estate purchase contract and purchase agreement is a binding contract for both the home buyer and the home seller. Once a buyer decides to enter into a real estate purchase contract and purchase agreement, homebuyers with their real estate attorneys should…
This Article Is About Importance Solid Pre-Approval Letter On Home Purchase The Importance Of A Solid Pre-Approval Letter By The Loan Officer: The pre-approval phase of the mortgage process is the most important step. The number one reason for a last-minute mortgage loan denial or stress during the mortgage process is that the loan officer…
This Article Is About Buying A Single-Family Home Versus Other Types Of Homes For First-Time Homebuyers Buying A Single-Family Home versus condos and/or townhomes are more popular among first-time homebuyers. Most home buyers want to have privacy as homeowners. Buying a single-family home offers a private yard and a distance between neighbors. Other homebuyers want…
This ARTICLE Is About The Main Factors That Impact The Value Of A Home The Main Factors That Impact The Value Of A Home that affects home values is location. There are other factors that affect home values but the location is by far has the biggest impact on home prices. Home values on homes…
In this blog, we will cover and discuss origination fees and discount points on mortgage loans. In the following paragraphs, we will discuss and cover understanding origination fees and discount points on mortgage loans. Gustan Cho Associates offer highly competitive mortgage options without LENDER OVERLAYS. We have no additional guidelines on our Conventional, FHA and…
In this blog, we will cover and discuss how long does pre-approval take from lenders. The Pre-Approval stage is the most important stage in the mortgage loan application and mortgage loan approval process. An experienced and diligent mortgage loan officer should carefully analyze the mortgage loan applicant’s income, credit, credit history, income, and assets before…
Credit Guidelines in Mortgage Underwriting Process: Your 2024 Guide to Mortgage Approval Purchasing or refinancing a home is one of the biggest financial steps you’ll take. Whether you’re a first-time homebuyer or looking to refinance, understanding how credit guidelines impact the mortgage underwriting process can help you prepare. This guide includes everything you need about…
Best States to Move To in 2024: Why are Americans Moving and Where They’re Headed? The coronavirus outbreak in February 2020 has changed the way we live forever. The whole country shut down due to the coronavirus outbreak or so-called pandemic. A lot of fear-mongering was going on by most state governors. The landscape of…