This guide covers the mortgage process leading to clear-to-close and closing on time. The basic steps in the mortgage process leading to clear-to-close and closing on time. The mortgage loan and approval process starts when the mortgage processor is assigned to the borrower’s file. The loan officer will be alerted once the applicant completes and ..read more

This guide covers cash-out refinance mortgage loan eligibility guidelines. Government and Conventional loans offer cash-out refinance mortgage loan programs. Home values have been skyrocketing during the past few years where many homeowners are sitting on substantial equity in their homes. HUD, the parent of FHA allows up to an 80% LTV on cash-out refinance mortgage ..read more

In this blog, we will discuss and cover FHA charge off guidelines and the mortgage process with bad credit. FHA Charge Off Guidelines state that borrowers can qualify for FHA Loan with charge off accounts, no matter how large the charge off accounts is. There are two types of FHA Charge Off Guidelines: Non-mortgage FHA ..read more

This guide covers increasing credit scores before applying for a mortgage. Increasing credit scores before applying for a mortgage is important to get the lowest mortgage rates. The number one factor in determining mortgage rates by lenders is the borrower’s credit score. Other factors determine mortgage rates.  But credit scores have the biggest impact. For borrowers ..read more

This Article Is About Preparing For An FHA Loan With A Lender With No Overlays The COVID-19 coronavirus pandemic has sent many families out of major cities.  Thousands of Americans fear living in a major city, accompanied by historically low-interest rates, has sparked a homebuying uptick. Many families may have less than perfect credit but ..read more

All mortgage lenders require borrowers to start shopping for homeowners insurance premiums. You choose your hazard and fire insurance company. You are responsible for comparing premiums and selecting coverage. Dale Elenteny, a senior mortgage loan officer at Gustan Cho Associates, says the following about shopping for homeowners insurance premiums: Shopping for homeowners insurance premiums can ..read more

This BLOG On FAQ On Short Sales And Qualifying For Home Loans After Short Sale Was Written By Julie Hayward of Chicago Based EDGE REALTY LLC How To Qualify And FAQ On Home Loans After Short Sale By Julie Hayward, President And Managing Broker of EDGE REALTY LLC: More on Short Sales And How To Qualify ..read more

This guide covers changing lenders during the mortgage process. Is changing lenders during the mortgage process a good idea? You want to avoid changing lenders during the mortgage process if at all possible. Changing lenders during the mortgage process will cause delays in closing on your home loan. Our mission at Gustan Cho Associates is ..read more

This guide covers understanding credit scores during the mortgage process. Many things in your life can be affected by your credit score and your credit history. Everything from buying a car to renting an apartment to looking for a new house to even dealing with an emergency will be impacted by how you’ve handled your ..read more

In this article, we will discuss and cover the reasons for mortgage loan denial during the mortgage process. A mortgage loan denial is when a mortgage underwriter denies the home loan application because borrowers do not either meet the federal minimum mortgage lending guidelines or the individual lender overlays. There are reasons for mortgage loan ..read more