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Email Us: contact@gustancho.com
This guide covers how do underwriters calculate monthly income of borrowers. The way how do underwriters calculate monthly Income Of Borrowers is with documented qualified income. There are strict mortgage regulations on how do underwriters calculate monthly income of borrowers on government and conventional loans. Days of stated income home loans have long passed but…
This guide covers how the mortgage underwriting process works. If you are planning to buy a house and need a loan, you must go through the mortgage underwriting process called underwriting. Alex Carlucci, a senior loan officer at Gustan Cho Associates, explains how the mortgage underwriting process works as follows: Mortgage underwriters will check your…
This guide will cover the next steps once you get a mortgage loan denial. One frequently asked question from viewers of Gustan Cho Associates is, what are the next steps after a mortgage loan denial? Ethel Matthews of Gustan Cho Associates is a dually licensed real estate agent and loan officer in South Carolina. Here…
In this blog, we will cover Chapter 13 Bankruptcy Guidelines. Borrowers can qualify for a mortgage during and after the Chapter 13 Bankruptcy repayment plan. You do not have to wait until the Chapter 13 Bankruptcy has been discharged. Homebuyers who have filed Chapter 13 Bankruptcy are eligible for FHA and VA loans for one…
Manual underwriting guidelines for FHA and VA loans are almost identical. VA and FHA loans are the nation’s only two mortgage loan programs that allow manual underwriting on owner-occupant primary residency mortgage loans. HUD, the parent of FHA, is the federal government agency administering FHA loans. Michelle McCue of Gustan Cho Associates is an expert…
HUD Chapter 13 Bankruptcy Guidelines on FHA loans allow borrowers in an active Chapter 13 Bankruptcy repayment plan to qualify for FHA loans while in an active Chapter 13 Bankruptcy repayment plan. The way HUD Chapter 13 Bankruptcy Guidelines state on HUD 4000.1 FHA Handbook is anyone who has filed Chapter 13 Bankruptcy is eligible…