Qualifying For Home Loan After Bankruptcy And Housing Event
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Qualifying For Home Loan After Bankruptcy And Housing Event

ByGustan Cho
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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….

How To Calculate Debt-To-Income Ratio on Mortgage Loans
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How To Calculate Debt-To-Income Ratio on Mortgage Loans

ByGustan Cho
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In this blog, we will cover and discuss how to calculate debt-to-income ratio on mortgage loans. There are two types of debt-to-income ratios when it comes to debt to ratio requirements. The first is front-end debt-to-income ratios and the second is back-end debt-to-income ratios. Front-End and Back-End Debt-To-Income Ratio The front-end debt-to-income ratio is also…

How Do Mortgage Underwriters View Bank Overdrafts
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How Do Mortgage Underwriters View Bank Overdrafts

ByAlex Carlcucci
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This article delves into how mortgage underwriters view bank overdrafts and their implications for mortgage approval. Every financial aspect of a borrower’s life is scrutinized meticulously in mortgage lending. From credit scores to debt-to-income ratios, lenders aim to the risk associated with approving a mortgage loan. Bank overdrafts are often overlooked but significant aspects of…

Credit Scores Increased During Underwriting Process
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Credit Scores Increased During Underwriting Process

ByGustan Cho
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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…

How The Mortgage Process Work

How The Mortgage Process Work

ByGustan Cho
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In this guide on how the mortgage process work, we will cover the steps of the mortgage from the mortgage loan application to closing on traditional and non-QM loans.  The overall non-QM mortgage process on non-prime loans is similar to traditional conforming mortgages. The mortgage process can be different among the various wholesale lenders. However,…

How To Avoid Mortgage Denial During The Loan Process

How To Avoid Mortgage Denial During The Loan Process

ByGustan Cho
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This Article Is About Steps On How To Avoid Mortgage Denial During The Loan Process There is no reason for a borrower to get a mortgage denial after they have been pre-approved. We are going to cover steps to avoid a mortgage denial. A mortgage denial can be an incredibly costly process, financially and emotionally….

Reasons Why Homeowners Refinance Mortgage Loans
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Reasons Why Homeowners Refinance Mortgage Loans

ByAnngelli Abenes
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This GUIDE covers the reasons why homeowners refinance their mortgage loans. In today’s falling interest rate environment, we have seen a flood in refinance transactions. Despite the coronavirus economic recession in the nation, the housing market is booming. With historically high mortgage rates, many homeowners can take advantage of the various refinance loan programs available….

Things To Avoid During Mortgage Process
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Things To Avoid During Mortgage Process

BySapna Sharma
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In this article, we will cover things to avoid during mortgage process for homebuyers and close on time.  We will discuss tips on things to avoid during mortgage process to avoid a last-minute mortgage loan denial. Alex Carlucci of Gustan Cho Associates said the following: It is human nature for a home buyer to get…

Bank Statements In The Mortgage Process
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Bank Statements In The Mortgage Process

ByGustan Cho
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Apply Now In this guide, we will cover bank statements in the mortgage process. We will discuss how mortgage underwriters analyze bank statements of mortgage loan applicants. The underwriter will thoroughly scrutinize bank statements during the mortgage process. Lenders want two months’ worth of bank statements. Any irregular deposits outside payroll check deposits must be…

Pre-Qualification vs Pre-Approval
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Pre-Qualification vs Pre-Approval

ByAlex Carlcucci
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Apply Now In this guide, we will cover pre-qualification vs pre-approval homebuyers. A pre-qualification is a general informal approval to see if the borrower qualifies for a mortgage loan. A pre-approval is more in-depth than a pre-qualification. For example, a loan officer can have a fifteen to thirty-minute interview with the applicant and determine whether…

Mortgage Underwriter Role During The Mortgage Process
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Mortgage Underwriter Role During The Mortgage Process

ByDale Elenteny
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Apply Now This blog will cover and discuss the mortgage underwriter role during the mortgage process. For borrowers ready to apply for a residential mortgage loan, there is a process they must go through, no matter which mortgage lender they choose. Once borrowers decide on a mortgage lender, the loan officer will complete and sign…

How To Get Pre-Approved For a Mortgage and Close on Time
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How To Get Pre-Approved For a Mortgage and Close on Time

ByGustan Cho
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Apply Now This blog will cover how to get pre-approved for a mortgage and close on time. For homebuyers, whether first-time home buyers or seasoned buyers, or homeowners thinking of refinancing, the first and most important step is to see whether or not they qualify for a mortgage. Factors how to get pre-approved for a…