This guide covers 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 mortgage…
In this blog, we will discuss and cover FHA charge off guidelines and the mortgage process with bad credit. FHA Charge Off Guidelines state that borrowers can qualify for FHA Loan with charge off accounts, no matter how large the charge off accounts is. There are two types of FHA Charge Off Guidelines: Non-mortgage FHA…
All mortgage lenders require borrowers to start shopping for homeowners insurance premiums. You choose your hazard and fire insurance company. You are responsible for comparing premiums and selecting coverage. Dale Elenteny, a senior mortgage loan officer at Gustan Cho Associates, says the following about shopping for homeowners insurance premiums: Shopping for homeowners insurance premiums can…
This blog will discuss how lenders price mortgage rates by credit score. We will compare mortgage rates for Maine homebuyers with bad credit and the difference between higher credit score borrowers with lower rates. Lenders base risk levels on the credit score of borrowers. We will compare the various loan programs’ best mortgage rate options…
In this blog, we will cover warrantable versus non-warrantable condominium mortgage guidelines. It is important to understand the difference between warrantable and non-warrantable condos for condominium homebuyers. A warrantable condo can turn into a non-warrantable condo complex. Whether it is a warrantable versus non-warrantable condominium, the only way you can differentiate is by the occupancy…
This BLOG On Florida Condo Hotel Financing Was Updated On October 28th, 2018 Condominium buyers who are in the market for a Condo Hotel in Florida, they may run into challenges in finding Condo Hotel Mortgage Lenders. Most Florida Condo Hotel Financing lenders who used to finance Condo Hotels in Florida have stopped lending on Condotels….
In this blog, we will cover and discuss Fannie Mae guidelines on conventional loan with collection accounts. Many homebuyers, especially first-time homebuyers are under the impression you need perfect credit, no collection accounts, no charge-offs, no late payments, high credit scores, and low debt-to-income ratios. None of the above is true. We will fact-check the…
This guide covers buying and selling a home simultaneously without stress. The team at Gustan Cho Associates are experts in helping mortgage borrowers buy and sell a home simultaneously without stress. In this article, we will provide information about selling your home. With the spring 2024 season just around the corner, the real estate market…
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 buying a fixer-upper home with a renovation loan. Several types of renovation loans exist for homebuyers and real estate investors. Owner-occupant homebuyers can utilize FHA 203K renovation loans for primary homes. The 2008 real estate and credit market collapse has devastated millions of American homeowners nationwide. Many lenders are wary of lending…
This guide covers renovations after purchase by homeowners. You have purchased your home, and you are done moving in. All the boxes have been unpacked, and you are settling in nicely; what is there to do now? Slowly but surely, it is time to spend more money. It isn’t on repairs. Instead, it is on…
This blog will cover qualifying and getting approved for a mortgage during Chapter 13 bankruptcy. Unsurprisingly, homebuyers and homeowners can qualify for a mortgage after bankruptcy. How about qualifying for a mortgage during Chapter 13 bankruptcy? Borrowers can qualify for an FHA or VA mortgage during Chapter 13 bankruptcy repayment plan without the Chapter 13…
Many Americans remember the last government shutdown during the Trump Presidency a few years back. Never in history was Congress so divided as it was when President Donald Trump was the 45th President of the United States. Is the government shutdown over? In the last government shutdown, the mortgage markets got greatly affected. USDA loans…
This guide will cover the mortgage waiting period guidelines after a short sale versus foreclosure on government and conventional loans. There is a difference in the waiting period requirements after a short sale versus foreclosure on conventional loans. There is a mandatory waiting period to qualify for government and conventional loans after the following: Foreclosure…
Apply Now This article will cover going through credit repair to qualify for mortgage. Is going through credit repair to qualify for mortgage recommended? Consumers’ credit scores determine whether or not they qualify for a particular mortgage loan program. There are minimum credit score requirements for all loan programs. To qualify for a 3.5% down…