This guide covers how to improve your credit to get approved for a mortgage. How to improve your credit and boosting your credit scores is not difficult, and the team at Gustan Cho Associates can help you. You might be enticed to hire a credit repair service that guarantees to resolve your credit issues for…
This guide covers who is responsible for the mortgage after the borrower dies. A mortgage is a long-term debt that usually takes decades to pay off. But what happens when the borrower, or the mortgagee, dies before the loan is not fully repaid? Does the mortgage loan die when the borrower dies or passes on…
This guide covers disputing a low appraisal to get a higher home value. A low home appraisal can cause all sorts of problems. If you’re buying a home, a low appraisal can cause you to lose the home if the seller isn’t willing to renegotiate a lower price with you. A low home appraisal can…
This GUIDE covers the reasons why homeowners refinance their mortgage loans. In today’s falling interest rate environment, we have seen a flood in refinance transactions. Despite the coronavirus economic recession in the nation, the housing market is booming. With historically high mortgage rates, many homeowners can take advantage of the various refinance loan programs available….
This breaking news article cover the FED rate cut to lower mortgage rates and spike lending. The news of the Federal Reserve Board to lower interest rate will have an impact on mortgage rates. The FED rate cut to lower mortgage rates and spike lending is expected throughout 2019. Many industry analysts expect lower interest…
This guide covers the difference between home equity line of credit versus cash-out refinance mortgage loans. A home equity line of credit, often referred to as HELOC, is a revolved account secured on a home that homeowners can use it for any purpose they need. Homeowners can use home equity lines of credit for the…
In this article, we will cover things to avoid during mortgage loan process for homebuyers. The mortgage process can be very stressful but does not need to be. Due to the many rules and regulations by mortgage regulators, borrowers often do not understand and will never understand the strict rule on disclosures, re-disclosures, and documents….
This guide covers the best time to buy a home for first-time homebuyers. There are two parts to the best time to buy a home for first-time homebuyers. First and foremost, the homebuyer should be ready financially and credit-wise. Buyers should not be struggling with the down payment. John Strange of Gustan Cho Associates explains…
This Article Is About Open House Benefits For Home Buyers Prior To Offer Offer Many seller’s realtors offer an open house on their home listings. The open house is a great marketing tool for sellers. This is because it is an invitation for not just potential homebuyers but also for realtors. A good open house…
This article is on Freddie Mac Home Possible Mortgage Guidelines. Freddie Mac Home Possible Mortgage UPDATED on July 6th, 2023, by Paulyn Balagot, an associate contributing editor at Gustan Cho Associates. Gustan Cho Associates, empowered by NEXA Mortgage, LLC, is a mortgage broker licensed in 48 states with over 210 wholesale mortgage lenders. John Strange,…
This Article Is About Non-Traditional Credit Tradelines To Qualify For Mortgage Borrowers without any credit tradelines reporting on credit reports can still qualify for a mortgage. Traditional credit tradelines are not an agency mortgage requirement. However, many lenders require a certain number of credit tradelines from borrowers as part of their lender overlays. There are…
In this blog, we will cover and discuss the verification of employment and income mortgage guidelines. Employment, income, and credit are the most important factors in determining mortgage loan approval. Between the two, income is probably more important than credit in determining mortgage approval. Borrowers can have prior bad credit and low credit scores and…
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