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…
This guide covers what auto title loans are and how title loans work. Some people can’t get traditional loans or don’t have the time it takes to get one. If you are trying to get fast cash to buy a house, do home improvement, or start a business, car title loans might be for you….
FHA Mortgage Credit Score Requirements 2022 If you’re like a lot of people, the last two years have been rough. With the pandemic’s start, people were laid off, and bills got behind. Even with the best of intentions, people’s credit scores took a hit. Now that you may have gotten back on your feet, you…
What are condos? You might ask yourself what a condominium is? Some people think that a condominium is a fancy apartment. A condominium, also called a condo, is actually a building that is made up of private, individually owned units. When you live in an apartment, you are renting the space. When living in…
This Article On Qualifying For Mortgage With Bad Credit And Late Payments Qualifying for mortgage with bad credit is ambiguous and can be wide-ranging. Many mortgage companies such as myself specialize in helping borrowers obtain mortgage with bad credit However, the key is prior to bad credit versus current bad credit Homebuyers who want to…
This Article Is About Home Buyers With Counter Offers On Real Estate Purchase The housing market has been booming for the past several years. Home prices have been increasing double digits for the past several years. Both HUD and the Federal Housing Finance Agency (FHFA) have been increasing FHA and Conforming Loan Limits for the…
In this blog, we will discuss and cover actions to take if you get a home loan denial and steps to get approved by another mortgage lender. Not all mortgage lenders have the same lending requirements on FHA, VA, USDA, and Conventional loans. All lenders need to make sure their borrowers meet the minimum agency…
Apply Now This guide covers the breaking news on the downpayment requirement on 2-to-4 Unit Multi-Family mortgage loans and the eligibility requirements to purchase a two-to-four-unit multi-family home. Fannie Mae lowers the down payment requirement on a two-to-four-unit multi-family primary home to a 5% down payment from the previous 15% to 25% down payment requirements,…
This guide covers the IDHA down payment assistance mortgage program for first-time homebuyers. In today’s rising economy, many Americans need down payment assistance to buy their dream home. Many hard-working. Americans make good incomes and can easily afford a mortgage payment on an average $200,000 Illinois home purchase. However, many do not have the down…
This guide covers buying a home in New Mexico with bad credit. Are you an active duty military service member or a veteran looking to purchase a home in New Mexico either for yourself or your family? New Mexico has many veterans migrating to the state due to great job opportunities and its great atmosphere…
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