This BLOG On Refinancing 30 Year Fixed Rate Loan To 15 Year Fixed Mortgage Rate Was UPDATED On January 7th, 2019 There are various fixed mortgage rate programs available. 30 year fixed mortgage rate programs are the most popular mortgage loan program There are also 25 year fixed rate mortgage rate programs, 20 year fixed mortgage…
In this blog, we will cover and discuss what is maximum monthly mortgage payment you can afford versus how much you qualify. As technological advances such as the train and automobiles allowed Americans to expand out of major cities, homeownership has always been the American dream. Homeownership there is a staple of what America stands…
This BLOG On Credit Inquiries By Mortgage Lenders And Impact On Credit Scores Was Updated And PUBLISHED On February 21st, 2020 Consumer’s Credit Profile is private and not available to the public. There are federal laws regulating personal credit reports The Fair Credit Reporting Act (FCRA) is the federal government agency that monitors and regulates…
This guide covers FHA facts from fiction on FHA loans. Many homebuyers often get confused when shopping for a mortgage. What are the FHA facts versus BS? Sharp consumers normally shop with vendors before deciding which company to buy goods and services from. FHA loans are popular for homebuyers, especially those with lower credit scores…
This guide covers qualifying for a mortgage by buying your first home purchase. Buying your first home purchase can be exciting and stressful, especially if you are a first-time home buyer. Those buying your first home purchase should take their time and do the proper due diligence in choosing their new home. The most important…
This guide covers qualifying for a mortgage after foreclosure for borrowers on title but not on note. Home buyers with a prior foreclosure who were on the title but not on note of a home currently being foreclosed on can qualify for a new mortgage loan. The waiting period requirement does not apply. Therefore, if…
This article covers everything you need to know about buying a fixer-upper home. Homebuyers can purchase owner-occupant primary fixer-upper renovation loans with FHA, VA, USDA, and conventional loans. Many homebuyers looking to buy, rehab, or renovate their homes may find the FHA 203(k) loans a great program. FHA 203k loans are for owner-occupant homes only….
This Article Is About How To Lower Property Taxes For Homeowners With High Taxes High property taxes are a major problem for homeowners on a fixed income. There are many mismanaged counties throughout the United States with incompetent politicians where they keep on increasing property taxes year after year. Property tax increases due to budget…
This guide covers qualifying for W2-Income-Only Mortgages. Borrowers who are W-2 wage earners and mortgage underwriters will go off the most recent paycheck stubs reflected on the past 30 days and from the employer’s employment verification. Two years of W2s are required, but there is a lot of leniency with W-2 wage earners. The following…
Apply Now In this mortgage guide on Gustan Cho Associates, we will cover qualifying for 1099-income-only mortgages. Many people are 1099-income-only wage earners and have a lot of unreimbursed business expenses on their tax returns. Mortgage lenders use the adjusted gross income and not the income from the income tax returns. Adjusted gross income is…
This guide covers the difference between FICO versus Vantage Score. In personal finance, credit scores are crucial in determining your Eligibility for various financial products, including mortgages. Two names stand out regarding credit scoring models: FICO versus Vantage Score. These credit scoring systems play a crucial role in determining a person’s creditworthiness and are used…
This guide covers a real-life case scenario of buying a new construction home. The guide was written by one of our borrowers who was questioning buying a new or existing construction home. We will take one homebuyer’s experience in buying a new construction home and the homebuying and mortgage process. Buying a new construction home…
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