This Article Is About Qualifying For Mortgage After Debt Settlement Versus Bankruptcy Many consumers are under the understanding that bankruptcy is the end of them ever getting credit and/or a mortgage. This is not true. Bankruptcy is a federal law that enables consumers to get their debts discharged and/or restructured so they can get a…
In this article, we will cover and discuss getting pre-approved before shopping for a home. No two homebuyers have the same credit score and financial profile. You have first-time homebuyers with great credit, bad credit, no credit, prior bankruptcy and/or foreclosure, late payments, high debt-to-income ratio, collections, and charge offs. Because not everyone knows where…
This Article Is About Now Good Time Home Purchase In Chicago And Suburbs Chicago is the second-largest city in the United States behind the city of New York and followed third by Los Angeles. Chicago home prices are not ridiculously high like home prices in New York City and California. However, home prices have been…
In this blog, we will cover buying a home in North Carolina with bad credit. Buying a home is a significant milestone in life, and it’s one that many people aspire to achieve. However, when you have poor credit, it can feel like an uphill battle. The good news is that buying a home in…
In this article, we will cover credit scores increased during underwriting process. If credit scores increased during underwriting process, the borrowers could lock the loan with the higher credit score. One of the frequently asked questions at Gustan Cho Associates is will I get a lower rate if credit scores increased during underwriting process? Credit…
In this first-time home buyers guide, we will show the benefits of going from being a renter to a homeowner. The first-time homebuyers guide will cover the steps of the homebuying and mortgage process. We will discuss most first and include how to choose the best mortgage loan program with the best rate, how much…
A frequently asked question by our clients is how to buy a house with bad credit? It is a given that it is best to have the maximum highest credit scores you can achieve when you apply for a mortgage. This is due to mortgage rates being priced based on the borrower’s rates among other…
In this blog, we will cover and discuss the meaning of the buyers market versus the sellers market in real estate. The team at Gustan Cho Associates has been following the housing market for over a decade, and we are in some unprecedented times. In this blog, we will give our readers an update on…
This guide covers the difference between mortgage agency guidelines versus overlays on home loans: Many mortgage borrowers ask, “What are mortgage agency guidelines versus overlays. ” There are two types of mortgage agency guidelines versus overlays. The federal mortgage guidelines are implemented by the various mortgage loan programs such as FHA, VA, USDA, Fannie Mae,…
In this blog, we will cover and discuss 9 reasons why to buy a townhouse for first-time homebuyers. Homebuyers often compare buying townhouses versus single-family homes. There are many benefits of buying a townhouse versus single-family homes. Many first-time homebuyers automatically believe that buying a townhouse is cheaper than buying a single-family home This may…
In this guide, we will cover the steps in getting qualified and pre-approved and the documents required for mortgage process. There are three simple steps to getting qualified and pre-approved. The first step is to talk to a loan officer. The loan officer will ask you a series of questions over the phone such…
This guide covers Chicago home purchase. Thinking about buying a home in the city of Chicago? You may want to rethink a Chicago Home Purchase after reading this article. City has one of the highest tax rates among all major cities in the United States. Property taxes, sales, gas, income, vehicle stickers, and extra city…
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