Apply Now In this blog, we will cover using hard money loans to buy investment properties. Hard money loans are only for non-owner-occupant primary properties. Residential mortgage rules and regulations prohibit hard money loans on residential mortgage lending due to the SAFE Act of 2008 and predatory lending laws. In general, depending on the individual…
Gustan Cho Associates offers TBD mortgage underwriting pre-approvals for homebuyers with less-than-perfect credit. TBD stands for To Be Determined. A TBD Underwriting is when a mortgage loan application is processed and submitted to underwriting without a subject property. “To-Be-Determined” (TBD) underwriting or what Gustan Cho Associates calls Fast-Track Pre-Approval Loan Commitment Mortgage Process, is…
In this article, we will discuss and cover self-employed no tax return mortgage loans. Self-employed no tax return mortgage loans have been non-existent between the 2008 Great Recession and early 2017. However, Self-Employed No Tax Return Mortgage Loans made a comeback in the spring of 2017. GCA Mortgage Group now offers bank statement loans for…
Apply Now In this blog, we will discuss and cover VA DTI mortgage Guidelines. VA DTI mortgage guidelines state there is no maximum debt-to-income ratio cap on VA loans with an approve/eligible per automated underwriting system (AUS). You should get an approve/eligible per automated underwriting system as long you have strong residual income. You…
Apply Now In this blog, we will be covering mortgage guidelines on government and conventional loans. Mortgage guidelines on the individual mortgage loan program are set by the FHA, VA, USDA, Fannie Mae, or Freddie Mac. Every agency has its own set of mortgage guidelines. Mortgage Guidelines on Government-Backed Mortgage Loans All lenders need to…
This Article Is About Identity Theft During FHA Loan Process Will Delay Home Closing Homebuyers can still qualify for a mortgage loan if they are victims of identity theft. Since the credit report is not accurate, the only way borrowers can get approved for a home loan is with a manual underwriting. FHA and VA…
In this article, we will cover qualifying for non-QM loans one day out of foreclosure and bankruptcy. We will discuss how you can now qualify for a home mortgage after a foreclosure, deed in lieu of foreclosure, and short sale with no waiting period requirements. However, the down payment requirements is higher than the traditional…
Apply Now In this article, we will cover understanding VA home mortgages for veteran homebuyers. We will cover and discuss the eligibility requirements for active duty and retired veterans. Understanding VA Home Mortgages and the Agency Guidelines is very important because most lenders have lender overlays on VA loans. What Are Lender Overlays on VA…
In this article, we will cover getting a mortgage after a divorce. Divorces can become not just stressful but extremely ugly, bitter, and sometimes vengeful. In very few cases will divorces be consensual and peaceful. There are countless reasons for divorce. One of the issues most couples separating run into is the separation of assets…
In this article, we will discuss and cover starting career as mortgage loan officers at Gustan Cho Associates Gustan Cho Associates, powered by Nexa Mortgage NMLS 1660690, is a national mortgage company licensed in 48 states with over 190 lending partnerships with wholesale mortgage lenders. Gustan Cho Associates, Empowered by NEXA Mortgage, is a full-service…
In this blog, we will cover and discuss the FHA student loan guidelines to qualify for FHA loans. Per FHA Student Loan Guidelines for FHA loans. Deferred student loans that have been deferred for 12 or more months are no longer exempt from debt-to-income calculations on FHA loans. FHA Student Loan Guidelines under HUD 4000.1…
In this article, we will cover and discuss the steps to buying a house for first-time homebuyers with little to no down payment and low closing costs. Before starting the steps to buying a house, we will discuss what you need to do to get ready for the steps to buying a house and going…
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