Mortgage Loan Options at Gustan Cho Associates

Gustan Cho Associates has lending partnerships with over 190 wholesale mortgage lending partners. Not only do we have a no-lender overlays business model on government and conventional loans, but Gustan Cho Associates also has dozens of lending partners with wholesale lending partners in niche mortgage specialty programs.

Besides being able to do FHA, VA, USDA, and Conventional loans with no lender overlays, we are experts on hundreds of non-QM mortgage loan programs. Some of our popular non-QM and alternative loan programs are non-QM loans, no-income verification mortgages, asset-depletion loans, all-in-one mortgages, bank statement loans, non-QM loans one day out of bankruptcy, non-QM loans one day out of foreclosure, fix and flip mortgages, non-QM jumbo loans, and non-QM loans with late payments in the past 12 months.

The Reason Why Other Mortgage Companies Fear Gustan Cho Associates

Since we run on a broker compensation platform, we have the lowest rates compared to our mortgage banking companies. The maximum NEXA Mortgage, LLC corporate can make is a 2.75% yield spread premium by law. Out of the 2.75% yield spread premium, we divide that among everyone to pay overhead, support and operations staff, third-party vendors, and loan officer commissions. There is not much of a margin to make a killing on every closed deal. However, our competition (mortgage bankers) has a back-end compensation that is substantially higher than the 2.75% broker maximum comp plan.

Why Interest Rates at Gustan Cho Associates Beats The Competition

Gustan Cho Associates has more competitive rates than our competition. We are more than confident we have the lowest rates in the market due to being on a broker comp platform. If a borrower has a lower rate than ours, we can beat the rate if you can provide the Loan Estimate. We can do a borrower-paid compensation versus lender-paid and make sure that you get the lowest rate than any competitor’s rate.

The average mortgage banker makes 6% to 8% back-end compensation on each closed loan. Compare the 6% to 8% back-end comp plan versus the maximum broker comp plan of 2.75%. Quite a difference right? There is no such thing as a free thing in the mortgage industry. So who pays the premium of mortgage bankers’ 6% to 8% comp plan? It is the borrower.

How Mortgage Lenders Price Interest Rates

The higher the back-end comp plan of the mortgage company, the higher the mortgage interest rates. Therefore, you will pay a substantially higher mortgage rate than the competition will at Gustan Cho Associates The team at Gustan Cho Associates believes in making 10 cents on the dollar of $10 million than $90 cents on nothing. We have a win-win business model and this is exactly why our competition fears us.

Mortgage Lender Being Able To Do Loans Others Can’t

Over 75% of our clients are borrowers who could not qualify at other mortgage companies due to lender overlays or because the lender did not have the mortgage loan program best suited for the borrower.  We are experts in being able to qualify and close FHA and VA loans with credit scores down to 500 FICO.

If our clients are trusting us with getting them approved and close on one of the biggest investments in their lifetime, we in turn need to make sure we return the faith, trust, and respect back to them by being available 24/7, seven days a week, on evenings, on weekends, and during holidays. Being available at all times is what makes us different than any other mortgage company. Our loan officers have been with us for years. We are extremely selective hiring loan officers, loan officer assistants, mortgage processors, and support staff. Not everyone is a good fit for us.

Our Business Model at Gustan Cho Associates

Our business model at Gustan Cho Associates is if our borrowers trust us with their faith in getting them approved and closed on their mortgage loan, we have a fiduciary duty to be available at all times including late evenings and during the holidays.  In the event you cannot get a hold of your loan officer, please contact one of our regional managing partners or Gustan Cho at 262-627,1965. Text us for a faster response or email us at gcho@gcamortgage.com.

• Gustan Cho NMLS 873293 | 17w662 Butterfield Road | Suite 205 | Oakbrook Terrace, Illinois 60181 | Toll-Free 1-800-900-8569 | gcho@gustancho.com | 262-716-8151 | Equal Housing Lender | NMLS Consumer Access | Branch NMLS 2315275 | Company NMLS 1660690