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Email Us: contact@gustancho.com
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…
Buying a house in Illinois can be exciting due to the many positive benefits the state has to offer. Chicago is one of the most diverse cities in the world. Dale Elenteny, a lifelong Illinoisans and veteran loan officer at Gustan Cho Associates made the following statement about buying a house in Illinois. Illinois has…
In this article, we will cover the topic of how you can qualify for a mortgage with defaulted student loans. You do not have to pay outstanding private defaulted student loans to qualify for a mortgage. Homebuyers can qualify for conventional and non-QM loans with defaulted federal student loans. However, you may have a difficult…
In this blog, we will cover the HUD non-occupant co-borrower Guidelines on FHA loans. The United States Department of Housing and Urban Development commonly referred to as HUD, is the parent federal agency of the Federal Housing Administration (FHA). HUD, the parent of FHA, is not a lender. FHA does not originate nor fund FHA…
In this blog, we will cover FHA mortgage insurance premium on 15 versus 30-year fixed-rate FHA loans. FHA-insured mortgage loans are a great program for first-time home buyers. For borrowers needing a home loan with bad credit, FHA-insured mortgage loans are ideal for first-time home buyers. FHA loans are perfect for those who need a…
Apply Now This article will discuss buying a short sale home owned by a mortgage lender versus a traditional home listed by a homeowner. We would go in-depth on how to qualify for a mortgage if you had a prior short sale. The Gustan Cho Associates team are experts in helping borrowers qualify for a…
This blog will compare FHA versus conventional rates on home purchase and refinance transactions. Is FHA versus conventional rates on purchases and refinance lower? This is one of the most frequently asked questions at Gustan Cho Associates. Getting the best mortgage rates is important. Lower rates mean tens of thousands of savings over the home…
Using real estate agents in selling your home versus selling by the owner is highly recommended. People are always looking for ways of saving money. Home sellers need to pay realtors a commission of 6% once the real estate agent sells their home. 6% of a $200,000 home is $12,000, which is no chump change….
In this blog, we will review qualifying for a mortgage with recent late payments. Timely payments in the past 12 months are crucial when qualifying for a home loan. It is fine to have prior late payments or bad credit when qualifying for a mortgage. Dale Elenteny of Gustan Cho Associates compares bad credit versus…
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…