This guide covers how to improve your credit to get approved for a mortgage. How to improve your credit and boosting your credit scores is not difficult, and the team at Gustan Cho Associates can help you. You might be enticed to hire a credit repair service that guarantees to resolve your credit issues for…
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….
This guide covers the difference between home equity line of credit versus cash-out refinance mortgage loans. A home equity line of credit, often referred to as HELOC, is a revolved account secured on a home that homeowners can use it for any purpose they need. Homeowners can use home equity lines of credit for the…
In this blog, we will cover how to get a mortgage in Wyoming with the best mortgage rates with a lender with no lender overlays. Borrowers with credit scores over 700 FICO can check out discount mortgage brokers in Wyoming, such as www.preferredmortgagerates.com and jumbomortgageoptions.com. How To Get a Mortgage in Wyoming With The Best…
Apply Now The down payment on a home purchase is a fixed percentage but not closing costs. There are two types of payments that are required to close on a home purchase. The first is the down payment and the second is closing costs. The down payment is self-explanatory. The down payment required for a…
HUD, the Federal Housing Administration parent, has lowered the hefty FHA mortgage insurance premium on FHA loans by 30 basis points. The annual FHA mortgage insurance premium of 0.85% got reduced to 55% of the mortgage loan balance. Reducing FHA mortgage insurance premium is a welcome move for many Americans. This holds especially true for…
This blog will cover the waiting period after bankruptcy and foreclosure mortgage guidelines on government and conventional loans. There is a mandatory waiting period after bankruptcy and foreclosure to qualify for a residential mortgage loan. If you had a prior bankruptcy, there is a mandatory two-year waiting period after the discharge date of your…
This guide will cover using hard money loans for bad credit borrowers to purchase real estate properties. Many folks have heard of hard money loans for bad credit. Hard money loans for bad credit are loans made by hard money lenders who are private investors. One frequently asked question at Gustan Cho Associates is how…
Apply Now In this guide, we will cover down payment for home purchase requirements by mortgage lenders. Homebuyers planning to purchase a home have two types of costs they need to come up with. Down Payment For Home Purchase Requirements Closing Costs Mortgage lenders will require a down payment for home purchases. This is because…
Get a Fast Quote: Click Here This blog will cover conventional mortgage after short sale and deed-in-lieu of foreclosure. Homeowners who have had a deed-in-lieu of foreclosure or a short sale can qualify for a Conventional mortgage after short sale and deed-in-lieu after four year waiting period. The 4-year waiting period start clock starts from…
Apply Now VA loan after foreclosure waiting period requirements is the same for deed-in-lieu of foreclosure and short-sale. Foreclosure, deed-lieu of foreclosure, and short sale all have the same waiting period requirements to qualify for VA loans. Veterans who have lost their homes due to a prior foreclosure can qualify for a VA loan after…
This article will cover non-conforming mortgage loans and bank statement mortgages for self-employed borrowers. There are no income tax returns required on bank statement mortgages. Dale Elenteny of Gustan Cho Associates explains non-conforming mortgage loans: Any mortgage loans do not conform to Fannie Mae and Freddie Mac mortgage lending guidelines are called non-conforming loans. Jumbo…
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