This blog will cover and discuss debt-service coverage ratio mortgage loans for real estate investors. We will take a step further and cover one of our new debt-service coverage ratio mortgage loans just launched, where borrowers do not have to own a primary owner-occupant property to qualify for debt-service coverage ratio mortgage loans at Gustan…
In this article, we will cover and discuss pricing mortgage rates by lenders on home loans. Most FAQs by borrowers on pricing mortgage rates by lenders on home loans. Mortgage shoppers often see a variety of mortgage rates when shopping for a loan and often wonder about pricing mortgage rates by lenders. Pricing Mortgage Rates…
One of the most FAQs we get daily at Gustan Cho Associates is can homebuyers get 500 to 620 FICO home mortgage loans with bad credit? A large percentage of our clients at Gustan Cho Associates are homebuyers with bad credit that need 500 to 620 FICO home mortgage loans with bad credit. Over 75%…
In this blog, we will cover and discuss choosing a lender with no lender overlays when denied for a mortgage. Not all mortgage lenders are created equally. Just because home buyers need to qualify for FHA, VA, USDA, or Conventional Loans does not mean they can qualify with all mortgage lenders. Understanding Lender Overlays Lender…
In this blog, we will cover and discuss preferred lenders steered by builders on a home purchase. Many home builders have preferred lenders steered by builders. Preferred lenders steered by builders are mortgage companies who either have a business referral network with the home builder. In other cases, the builder may have an interest in…
In this blog, we will be covering and discussing the 90 LTV Jumbo Loans. The 90 LTV Jumbo Loans stands for a 90% loan-to-value jumbo mortgage loan program. One 10% down payment is required on the 90 LTV Jumbo Loans with no private mortgage insurance required. Real estate prices have been increasing since 2010. Despite…
Gift funds for the down payment on a home purchase are allowed on government and conventional loans for the down payment and closing costs. FHA, VA, USDA, Fannie Mae, and Freddie Mac allow gift funds to be used. However, there are rules and regulations with regard to gift funds. Each loan program has its own…
A career as a remote mortgage loan originator can be one of the most rewarding and highest-paying careers available today. Gustan Cho Associates dba of NEXA Mortgage, LLC is hiring experienced licensed remote loan officers nationwide. A career as a loan officer is different than any other career in the sense that this job has endless…
In this blog, we will cover and discuss reverse mortgage loans for seniors. Senior homeowners with equity in their homes are eligible for reverse mortgage loans. Reverse mortgage loans are where homeowners borrow against their house to get a combination of a cash-out refinance PLUS no longer pay future PITI on the balance of their…
In this article, we will discuss and cover First Time Homebuyer Mortgage Questions On House Purchase. Buying a home for the first time is an exciting milestone. Still, it can also be overwhelming with all the questions and decisions you’ll face. One of the most significant aspects of this process is securing a mortgage. Here,…
All lenders need to meet agency mortgage guidelines by HUD. However, most lenders will have additional mortgage requirements that are above and beyond those of HUD Guidelines called overlays. HUD does not require borrowers to pay outstanding collections and/or charged-off accounts. However, many lenders may require borrowers to satisfy collections and charged-off accounts. In this…
In this article, we will discuss and cover Qualifying For Home Loan After Bankruptcy And Housing Event. The journey to homeownership can be challenging, especially after experiencing a financial setback like bankruptcy or a significant housing event such as foreclosure or a short sale. However, it is important to know that all is not lost….
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