This Article Is About Home Mortgage Credit Score Requirements And Guidelines If you are contemplating applying for a mortgage, there are some basic qualifications you need to be aware of. One of the main driving factors of mortgage qualifications is your credit score. A credit score is easy to damage and difficult to fix. In…
This Article Is About Qualifying For A Mortgage After Temporary Unemployment Gustan Cho Associates gets dozens call daily about Qualifying For A Mortgage After Temporary Unemployment. Millions of American workers got temporarily laid off after the coronavirus outbreak in February 2020 Over 50 million Americans filed for unemployment Unemployment peaked to over 15 unemployment rate…
In this blog, we will cover and discuss the difference between government versus conventional mortgage guidelines. Many homebuyers often get confused when shopping for a mortgage about the difference between government versus conventional loans. Government loans are for owner-occupant primary homes. You cannot finance second homes or investment properties with government mortgages. What Are Conventional…
This guide covers first time home buyer mortgage process on getting pre-approved and closed on a home. The first step for first time home buyer mortgage process is the pre-qualification and pre-approval step. The mortgage process does not have to be stressful. Most loans can close in 30 days or less. Understanding first time home…
This guide covers what is verification of rent required for a mortgage. Borrowers must have made all rental payments for the past 12 months timely—no 30-day late payments with any rental payments. If the borrower has paid their rental payments online, then 12 months of bank statements will be required to validate the verification of…
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….
This ARTICLE Is About The Feds Cuts Rates For The Third Time This Year As Economy Slows. Mortgage rates started to drop from the beginning of 2019. When the Federal Reserve Board cuts interest rates, mortgage rates follow the downward trend. Breaking news today on Feds Cuts Rates For The Third Time This Year As…
In this blog, we will cover and discuss qualifying for jumbo loans with low credit scores. Jumbo loans are mortgage loans with higher than conforming loan limits. Gustan Cho Associates now offers jumbo loans with low credit scores. Jumbo loans with low credit scores are often referred to as non-QM jumbo mortgages. Jumbo loans in…
This Article Is About High Illinois Property Taxes Making Taxpayers To Leave The State Gustan Cho Associates have written multiple articles recently on how high Illinois property taxes are affecting homeowners. This holds true especially in Chicago and its collar counties Rising high Illinois property taxes are hurting property values for Illinoisans High Illinois property…
This Article Is About Government Shutdown And Mortgage Process Many of my clients and realtors are concerned with the government shutdown and how this temporary shutdown can affect their mortgage loan process and closings. As Congress continues to negotiate legislation to fund the federal government, spending authority for the U.S.government expired at midnight Monday, September…
This Article Is About When Credit Repair Does Not Work For Mortgage Qualification Cases When Credit Repair Does Not Work For Mortgage Qualification: Credit Repair is when a consumer does a credit dispute on negative items to the three major credit bureaus in hopes of deleting the negative credit items off their credit report. The three major credit…
Foreign National Mortgages If you’re a foreigner in the United States, buying real estate can seem almost unachievable. However, foreign national mortgages could make it easier for noncitizens to secure a loan and buy assets. These mortgages permit you to pursue the American dream irrespective of your citizenship status. At Griffin Funding, we provide foreign…
Call Now 