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 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…
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…
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…
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,…
In this blog, we will cover and discuss mortgage loans for recent college graduates. If you have recently graduated from college and have no employment history, you might assume that you are unable to secure a home mortgage loan. This may have been true in the past. Student debt and lack of work history was…
In this article, we will cover and discuss the types of home ownership to hold title to real estate. We will cover the most common types of home ownership homebuyers should hold the title to their home purchase. There are several different types of home ownership and how to hold the title to a home….
In this article, we will discuss and cover the upfront fees during mortgage application process. The mortgage application process starts when pre-approved borrowers get a real estate purchase contract. Or if borrowers are homeowners, they give the mortgage loan originator the heads up to start the refinance mortgage process. The mortgage loan originator will send out…
In this blog, we will cover and discuss extenuating circumstances guidelines on home loans. When you read the agency guidelines, there is a lot of text about extenuating circumstances. However, the agency guidelines are not specific what exactly classifies for an extenuating circumstance. The team at Gustan Cho Associates gets countless calls and email inquiries…
This Article Is About Verifications Required By Lenders During The Mortgage Process There are multiple verifications required by lenders during the mortgage application and approval process. With all the mortgage guidelines put in place after the real estate crash of 2008, mortgage lenders must complete numerous verifications to approve a borrower for a mortgage loan….
In this blog, we will cover and discuss adding credit tradelines to qualify for mortgage by boosting credit scores. Many homebuyers go to their banks and other lenders to be told that they do not qualify for mortgage. This is because they do not have three credit tradelines or their scores are not high enough…
Cash-to-close means the cash required by the homebuyer to bring in to closing on a home purchase. Mortgage guidelines state that only verified funds can be used for the purchase or refinance of a home mortgage. All funds used in the mortgage process need to be documented. Cash money is non-existent in the mortgage industry….
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