Is buying a house with bad credit possible or do I need to wait until I have re-established my credit? 2022 is almost over and 2023 is right around the corner. Many homebuyers feel they will not qualify for a mortgage with bad credit. This may be true, however, everyone with a mindset and goal…
In this blog, we will cover and discuss the cash to close borrowers need to bring to closing. Homebuyers in a mortgage process will need to have their cash to close verified by mortgage underwriters. The lender will need to verify borrowers have enough verified funds for the down payment and closing costs for the…
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 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 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 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…