This Article On Fannie Mae HomeStyle Mortgage Guidelines And Requirements HomeStyle Mortgage is Fannie Mae’s equivalent of HUD’s equivalent of the FHA 203k Loan Program. Fannie Mae has a special mortgage loan program called HomeStyle Mortgage HomeStyle Mortgage Loans is Fannie Mae’s comparable of an FHA 203k Rehab Mortgage Loan With Fannie Mae’s HomeStyle Mortgage Loan,…
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…
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…
If you’ve had a timeshare foreclosure, don’t worry—you can still buy a home without a long waiting period. Most people think a timeshare foreclosure is just like a mortgage foreclosure, but that’s not true. In this post, we’ll explain how a timeshare foreclosure differs and why you may not need to wait years to get…
Whether buying a new home or refinancing your current one, a home appraisal is a critical step in the mortgage process. But the appraisal process can feel confusing and even a little intimidating if you’re like most homebuyers or homeowners. Don’t worry—we’ve got you covered! In this guide, we’ll break down everything you need to…
This article is about Mortgage Denial After Conditional Approval And Prior To Closing. Mortgage Denial After Conditional Approval And Prior To Closing does happen. Over 75% of our borrowers at Gustan Cho Associates are borrowers who had a Mortgage Denial After Conditional Approval And Prior To Closing. The number one and biggest reason for a…
How auto loans affect home loans for borrowers with a high debt-to-income ratio is a frequently asked question at Gustan Cho Associates. This article covers how auto loans affect home loans. Debt-to-income ratiosare one of the most important factors when it comes to mortgage qualification. Debt-to-income ratios are what determine how much home buyers can…
This guide covers paying off mortgage balance before the end of the loan term. Every homeowners dream is to have a home that is free and clear of any mortgage. Paying off mortgage balance earlier than the loan term is every homeowners dream. Most homeowners have a 30 year fixed rate mortgage. There are a…
This guide covers getting a mortgage and buying a house in the Virgin Islands. A series of breathtakingly stunning islands only a hop, pass, and bounce from the American mainland, the American Virgin Islands has long been considered America’s Caribbean and is one of the most specific locations inside the country for American consumers to…
This guide covers multiple competing home offers by homebuyers in a seller’s housing market. Multiple competing home offers are becoming increasingly popular due to rising home prices. There is more demand for homes than the inventory of housing throughout the country. Rising home prices seem to force many first-time homebuyers out of the market. In…
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…
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…
In this blog, we will cover and discuss what is a 2-1 buydown mortgage. In today’s financial climate, it seems like everything is unaffordable. Whether you are living your day-to-day life buying groceries and gasoline or attempting to find housing, everything seems to cost more these days. Clearly inflation is out of control if our…
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…