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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…
In this guide, we will cover understanding the homebuyer and mortgage process. Buying a home to live in is one of the most meaningful investments a person can make in their lifetime. For most people, purchasing a home involves taking out a mortgage or home loan. Marga Jurilla, the National Operations Manager at Gustan Cho…
This guide will cover how to write a letter of explanation to mortgage underwriters. Letters of explanation. often referred to as LOX, will be asked during the loan process. Those who have gone through the mortgage application process have encountered where a mortgage underwriter requests a LOX on certain issues. LOX will be asked for…
In this guide, we will cover how to avoid stress during the mortgage process. The mortgage process does not need to be stressful. Open communication between the loan officer and the borrower. The first reason there is stress during the mortgage process is that the documents required were submitted with paperwork missing. Gustan Cho of…
In this guide, we will cover how credit disputes during the mortgage process can halt the mortgage process. Credit disputes during the mortgage process may not seem like a big deal. However, it is one of the most negative factors in the application and approval process. An experienced mortgage loan officer should thoroughly review the…