Here is an informative article on how mortgage lenders price mortgage rates based on credit scores.

https://www.gcamortgage.com/mortgage-rates-versus-credit-scores/

gcamortgage.com

How Lenders Price Mortgage Rates Versus Credit Scores

The way lenders price mortgage rates versus credit scores is the lower the credit scores, the higher the mortgage rates due to risk for the lender

Breaking NEWS from CEO MIKE KORTAS over the announcement of NEXA MORTGAGE 100. Effective immediately, all NEXA Mortgage loan originators who recruit one full time independent Mortgage Loan Originator and that loan officer does one loan a month in one or all three wholesale lending mini-correspondent investors (EPM, MLB, and UWM) the loan officer will make 100% of the revenues. Let’s dive into the details of NEXA Mortgage’s commission structure. If you’re a self-producing Mortgage Loan Originator (MLO) looking for a change in brokerages, NEXA has some exciting possibilities for you:

1. Base Commission:

   • The first layer of NEXA Mortgage’s compensation plan is the Base Commission. You start by selecting a margin applied to your lender-paid compensation deals.
   • While you have the flexibility to choose different margins, it’s recommended to opt for 275 basis points, which grants you 220 basis points.
   • With this competitive rate, your commissions can significantly increase, especially when closing larger loan amounts.

2. Bonus Commission:

   • NEXA rewards hard work and dedication with the Bonus Commission.
   • Once you hit $3 million in funded volume per month, you’ll receive a 100% commission on everything beyond that threshold.
   • This bonus structure motivates MLOs to exceed their targets, and the potential for increased earnings is substantial. So, the sky’s the limit when it comes to achieving higher commissions!

3. Partnership Compensation Plan:

   • Taking their commitment to growth and recognition a step further, NEXA introduces the Partnership Compensation Plan.
   • When you’ve introduced 10 Originators producing at NEXA, you become eligible for this plan.
   • Instead of waiting to hit $3 million, you get a 100% commission starting at $2 million in production.
   • This incentive encourages MLOs to contribute to the company’s success by bringing in top-performing Originators.

4. Revenue Share Program:

   • Interested in building a business within a business? NEXA Mortgage offers an enticing Revenue Share Program.
   • By introducing other Originators to NEXA, you can earn a portion of their commissions, creating a powerful source of passive income.
   • As you develop your downline and help others succeed, your Revenue Share can grow significantly.

5. Daily Payouts:

   • Gone are the days of waiting for weeks to receive your commissions.
   • NEXA Mortgage pays you daily, treating you like a realtor and ensuring you get your hard-earned money promptly1.

Remember, always do thorough research and consider all aspects before making any decisions. If you’re interested in joining NEXA, reach out to them directly to explore the opportunities further!

https://gustancho.com/career-opportunities/

• This discussion was modified 10 months, 1 week ago by  Gustan Cho.
• This discussion was modified 10 months, 1 week ago by  Gustan Cho.
• This discussion was modified 10 months, 1 week ago by  Gustan Cho.
• This discussion was modified 10 months, 1 week ago by  Gustan Cho.

A P and L statement mortgage loan for self-employed borrowers does not require federal income taxes and only requires a CPA letter. Does the self-employed borrower need to have an actual Certified Public Accountant write the CPA letter to the mortgage lender or can a tax preparer do it? If the mortgage lender requires a true CPA to write the CPA letter, how do I get a real Certified Public Accountant to write the CPA letter to the mortgage lender so I can get approved for a P and L statement non-QM mortgage loan for self-employed borrowers.

What type of loans can I qualify during and after Chapter 13 Bankruptcy? How long after a Chapter 13 bankruptcy can I get an FHA loan? How long after Chapter 13 can you get a VA loan? Bankruptcy Waiting Periods For VA Loans Vs. Other Mortgages. Bankruptcy Waiting Periods For FHA Loans Vs. Other Mortgages. How long after Chapter 13 can I get a home equity loan? Lenders generally require a waiting period of between one and five years from discharge or dismissal — and up to seven following foreclosure — before they’ll approve you for a home equity loan. This is because they want to be sure you’ve righted your finances and can manage new debt. What is manual underwriting and how does manual underwriting work?

• This discussion was modified 8 months, 2 weeks ago by  Ollie.

What are HUD Chapter 13 Bankruptcy dismissal guidelines to qualify for an FHA LOAN. Is there any waiting period requirements.

Team Amanda Witthauer is an up-and-coming star at GCA. I want to congratulate Amanda on moving from Washington to Tennessee and landing her new job as a commercial real estate agent in her new home state. She was on furlough for the past few months because she needed to relocate from Washington to Tennessee. She is ready to rock and roll, and I have the utmost faith and confidence in Amanda since day one. She has switched to become a commercial real estate agent at a prestigious, highly reputable company and was one of ten experienced agents to get hired. Very proud of her, and I would not be surprised if she becomes the top originator. Let’s all help Amanda get her the proper tools for her success: Sapna, here are the following tools needed for Amanda:

1. Landing page
2. Make the landing page with her very own Contact Us page, email, mortgage calculator branded Amanda Witthauer, Loan Limits, her apply now CTA links to her mortgage application and ordering credit, a category blog box with drop-down per month with all blogs she is an author in, link to GCA FORUMS, Resources Section.

Amanda, please work with Sapna on custom-designing your landing page. Sapna will need a detailed bio and image with original content, how you want it laid out, and verbiage, text, images, slogans, logo, etc. You can have a dba like The Amanda Witthauer Team or Amanda Witthauer Mortgage Group. We need the verbiage powered by Gustan Cho Associates-NEXA Mortgage, really small lettering for compliance reasons. If you need a two-sided business card with you on one side and me on the other, Marga can order for you if you want to be the LOA in states you are not licensed in, and I can be the LO.

Felix and Paulyn work with Amanda setting up her business Facebook page, LinkedIn, YouTube Channel, and other social media platforms.

Let’s get all the support required for Amanda and do it with style. Congratulations on your new position, Amanda, and I want to thank you for participating in the forum. You got the keys to success. Depend on where you want to take it to—the top, of course. Again, a very big congratulations to Amanda Witthauer on her move to Tennessee and becoming a commercial realtor and loan officer. The best of the best and we are all proud of Amanda.

https://gustancho.com/can-realtors-be-loan-officers/

gustancho.com

Can Realtors Be Loan Officers at the Same Time?

Can Realtors Be Loan Officers and make money on the same transaction? The dual realtor/MLO gets compensation as the realtor and loan officer.

A business line of credit is a financial tool that provides a revolving credit limit to a business, allowing them to borrow funds as needed up to a predetermined limit. It is a flexible form of financing that can help businesses manage their cash flow, cover short-term expenses, seize opportunities, and address unexpected financial challenges. Here are some key aspects of business lines of credit:

1. Revolving Credit: A business line of credit works similarly to a credit card, in that it offers a predetermined credit limit that can be used repeatedly. As you repay the borrowed amount, the available credit is replenished, making it a renewable source of funding.

2. Types of Business Lines of Credit:

   • Secured Line of Credit: Requires collateral (e.g., business assets or personal assets) to secure the credit line, typically resulting in lower interest rates.
   • Unsecured Line of Credit: Does not require collateral but may have higher interest rates and stricter qualification requirements.

3. Usage Flexibility: Businesses can use a line of credit for various purposes, such as covering operational expenses, purchasing inventory, managing cash flow gaps, funding marketing campaigns, or investing in growth opportunities.

4. Interest and Fees: Borrowers are typically charged interest on the amount borrowed and may also incur fees, such as annual fees or withdrawal fees. Interest rates can be variable or fixed, depending on the terms of the credit line.

5. Repayment Terms: Lines of credit have minimum monthly payments, which often include interest charges and a portion of the principal balance. The repayment terms can vary, but businesses can choose to pay off the balance early or maintain an ongoing balance within the credit limit.

6. Qualification Criteria: Lenders evaluate a business’s creditworthiness, financial stability, and repayment ability when approving a line of credit. Factors such as credit scores, business revenue, time in operation, and personal guarantees may influence approval and credit limit decisions.

7. Renewal and Review: Business lines of credit are typically reviewed periodically, and lenders may adjust credit limits based on the business’s performance and creditworthiness. Renewal terms can vary by lender.

8. Advantages:

   • Flexibility: Access funds as needed, up to the credit limit.
   • Cost-Effective: Interest is only paid on the borrowed amount.
   • Cash Flow Management: Helps businesses smooth out cash flow fluctuations.
   • Quick Access: Typically, it’s faster to obtain a line of credit compared to a traditional loan.

9. Disadvantages:

   • Interest Costs: Borrowing comes with interest charges, which can add up.
   • Qualification Requirements: Businesses need to meet certain criteria to secure a line of credit.
   • Risk of Overextension: Mismanagement of a credit line can lead to debt problems.

Businesses should carefully consider their financial needs and ability to repay before obtaining a line of credit. It’s important to compare offers from different lenders to find the most favorable terms and use the credit responsibly to support business objectives.

Viviani Fedelich is a star in the making. The team at GCA Mortgage Group and Lending Network LLC is proud to work with Viviani Fedelich. Viviani Fedelich is a role model and always goes above and beyond. Mark my words, Viviani Fedelich is a multi millionaire in the making. Attached is where Viviani Fedelich does her work and is Viviani think tank. Viviani is a commercial loan officer and a Business Development Manager at Lending Network LLC.

Inflation has been skyrocketing like never before in history. Home prices are at historic highs. Mortgage rates are almost at 8.0% with no signs of increasing. Rents are increasing every year but wages has not gone up. If anything, wages are decreasing and by no means keeping up with Inflation. What’s in the horizon? I feel bankruptcy rates will increase like never before.

Gustan Cho NMLS 873293 of Gustan Cho Associates is able to do 75% LTV HARD MONEY LOANS IN UTAH. Based on the information available up to my last update, several areas in Utah have been considered promising for real estate investment. Here’s an overview of some potentially attractive areas:

Salt Lake City:

• Strong job market and economic growth
• Growing tech sector (“Silicon Slopes”)
• Diverse neighborhoods with varying investment opportunities
• High demand for rentals, especially near universities

Provo-Orem:

• Home to Brigham Young University and Utah Valley University
• Strong rental market due to student population
• Growing tech industry presence

St. George:

• Rapidly growing population
• Popular retirement destination
• Booming tourism industry

Ogden:

• More affordable than Salt Lake City
• Growing job market
• Outdoor recreation attractions

Lehi:

• Part of the “Silicon Slopes” tech corridor
• Rapid job growth
• New construction and development opportunities

Park City:

• High-end real estate market
• Strong vacation rental potential
• World-class ski resorts nearby

Sandy:

• Family-friendly suburbs
• Good schools
• Proximity to outdoor recreation

Draper:

• Growing tech presence
• High-income area
• New development opportunities

South Jordan:

• Part of the fast-growing “Silicon Slopes”
• Family-oriented community
• New master-planned communities

West Valley City:

• It is more affordable than some other Salt Lake suburbs
• Diverse population
• Potential for property appreciation

When considering real estate investment in Utah, keep in mind:

• Job market and economic growth in the area
• Population growth trends
• Rental demand (especially in college towns)
• Tourism impact (for short-term rentals)
• New development and infrastructure projects
• Local zoning laws and regulations
• Property tax rates, which can vary by municipality

Always conduct thorough research and due diligence before making any investment decisions. Consult local real estate professionals, property managers, and financial advisors for the most up-to-date and area-specific information.

https://gustancho.com/getting-pre-approved-prior-to-moving-to-utah/

• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.

gustancho.com

Getting Pre-Approved Prior To Moving To Utah

People planning on moving to Utah, GCA is a no overlay lender and non-QM broker. Can help getting pre-approved prior to moving to Utah

Illinois residents have been moving to Indiana in increasing numbers in recent years, with an estimated 31,015 moving in 2022. Some reasons for this include low cost of living, affordable housing, low taxes, friendly people, welcoming new businesses with tax incentives, proximities to large cities, great schools, and great healthcare. Cost of living. Indiana is considered one of the most affordable states in the US, with U.S. News ranking it #2 in overall affordability and #3 in housing affordability. For example, moving from Indianapolis to Chicago could increase the cost of living by more than 20% . Job opportunities: Indiana’s manufacturing and agriculture industries offer many job opportunities. Schools: Indiana’s Four Star School program ranks schools for excellence and accountability. Proximity to cities: Indiana is close to major cities like Chicago and Louisville, which offer access to entertainment, culture, and more jobs. Popular cities throughout the state of indiana: Some Indiana cities that are popular with Illinois residents include Indianapolis and Fort Wayne. Indianapolis offers a low cost of living, walkable downtown, and attractions, while Fort Wayne has affordable cost of living, family-friendly neighborhoods, and good schools.

https://gustancho.com/home-loan-with-bad-credit-in-indiana/

• This discussion was modified 8 months, 2 weeks ago by  Connie. Reason: Spelling error

gustancho.com

Home Loan With Bad Credit In Indiana With No Overlays

Gustan Cho Associates is a mortgage company with no overlays specializing in Home Loan With Bad Credit In Indiana and dozens other states

I grew up in a concrete jungle, with buildings everywhere and playgrounds of cement. There are always rules regarding playgrounds: no jumping from slides or see-saws, etc. Beyond those rules, there are street, unspoken rules that must be followed. The inner city game is basketball. I’ve played on many teams and coached my son through elementary school and into high school. We had park rules and home court rules. I was never that good a basketball player; I had white man’s disease; and I can’t jump. On a good day, I could touch the rim. The first rule was that whoever was on the court first had to play in every game until they lost. I’d get there early to call “home court,” hoping the guys that should be up were good and I could continue my possession of the court. Even if you played in the South Bronx or Harlem, these rules were adhered to.

Greenwich Village has a main subway stop: West 4th Street. The cross street is 6th Avenue.

One block south is West 3rd Street, where there is a basketball court. Guys, professional players would travel downtown to play ball. I remember Dick Barnet of the Knicks, and Kareem Abdul Jabar was a local boy named Lew Alcindor. He went to Power Memorial Academy High School.

I tried my strategy early one Saturday morning on the West 3rd Street courts. Everything went fine the first few games; our team won the first two games, and that was it. When the big boys arrived, we were wiped off the court. To this day, the Saturday basketball games are a tourist attraction. They have also formed a league, “West 3rd Street Basketball League.” Teams have sponsors: Nike and Pepsi. I would have to wake up pretty early to play in that league.

https://www.youtube.com/watch?v=xwbZq5MlXMM

There is no doubt that Joe Biden is the worst President of the United States and one of the dumbest, if not the dumbest, human being ever to head the Oval Office. I can give you an overview of some of the economic policies and initiatives that were in place during the Biden administration up to my last update.

When Joe Biden took office as the 46th President of the United States in January 2021, he faced significant economic challenges, primarily due to the COVID-19 pandemic’s ongoing impact on the economy. His administration’s economic agenda aimed to address the public health crisis and support economic recovery.

Some key points of the Biden administration’s economic policies up to September 2021 included:

1. COVID-19 Response: Biden prioritized a comprehensive approach to combat the pandemic, including mass vaccination campaigns, expanded testing, and providing financial aid to individuals and businesses affected by the pandemic.

2. American Rescue Plan Act: In March 2021, the administration passed the American Rescue Plan Act, a $1.9 trillion economic relief package. This legislation included direct payments to individuals, extended unemployment benefits, aid to state and local governments, funds for COVID-19 vaccine distribution, and support for small businesses.

3. Infrastructure and Jobs Plan: Biden proposed an infrastructure plan that aimed to invest heavily in infrastructure projects, such as transportation, broadband, and clean energy. The proposed plan also sought to create jobs and boost economic growth.

4. Tax Policy: The Biden administration proposed raising taxes on corporations and high-income individuals to fund various social programs and infrastructure investments. The goal was to address income inequality and generate revenue to support government initiatives.

It’s essential to remember that the economy’s performance is influenced by various factors, including global economic conditions, geopolitical events, and other policy changes. Therefore, I recommend checking more recent sources to obtain an up-to-date and comprehensive assessment of the Biden economy as of August 2023.

https://www.trunews.com/stream/joe-biden-dreams-of-ice-cream-as-nashville-christian-school-children-are-dead

Buying a House in Alabama, how are the property tax and homeowners insurance

When buying a house in Alabama, you will benefit from relatively low property taxes and moderate homeowners insurance rates compared to many other states in the U.S.

Property Taxes:

Alabama has some of the lowest property tax rates in the country. The average effective property tax rate is approximately 0.33% of a home’s market value, placing it among the states with the lowest property tax rates. For example, if you own a home valued at $200,000, your annual property tax bill would be around $660. However, property tax rates can vary by county within Alabama, so it’s important to check the specific rates in the county where you plan to buy​ (Tax-Rates.org)​​ (Tax-Rates.org)​.

Homeowners Insurance:

Homeowners insurance in Alabama can vary widely depending on factors such as the location of the property, the age and condition of the home, and the level of coverage you choose. On average, homeowners insurance in Alabama tends to be higher than the national average due to the risk of natural disasters like hurricanes and tornadoes. The average annual premium for homeowners insurance in Alabama is around $1,300, but this can be higher for homes in coastal areas prone to hurricanes​ (Tax-Rates.org)​.

Overall, while property taxes are relatively low, it’s wise to budget for potentially higher homeowners insurance costs, especially if your property is located in an area susceptible to severe weather. For the most accurate and personalized information, consider contacting local tax authorities and insurance providers in Alabama.

tax-rates.org

Alabama Property Taxes By County - 2024

The Median Alabama property tax is $398.00, with exact property tax rates varying by location and county.

What is the reason Great Content Authority (GCA) FORUMS is experiencing explosive growth is blowing away all other online message boards including Quora and Reddit. What makes everyone on the internet want to go visit and become a member of GCA FORUMS. I HAVE fact-checked verified information about Great Content Authority (GCA) FORUMS experiencing explosive growth or outperforming other online platforms like Quora and Reddit. However, I don’t have access to real-time data or insider information about emerging platforms. With concrete data and reliable sources, I can confirm and explain the growth describing Great Content Authority FORUMS and SUBFORUMS. Online platform success of Great Content Authority FORUMS (GCA FORUMS) can be due to many factors, including:

1. Unique features or user experience
2. Effective marketing strategies
3. Timing and market conditions
4. High-quality content or discussions
5. Strong community engagement
6. Niche focus or specialized content
7. Viral growth through word-of-mouth

However, these are general factors and may not apply specifically to GCA FORUMS. There is solid reasons why GCA FORUMS is indeed experiencing rapid growth. That is because GCA FORUMS is powered by Gustan Cho Associates, a dba of NEXA Mortgage and the largest mortgage company in the United States. We have facted-checked and verified official statements from the platform, industry reports, or reliable tech news sources for accurate information about their performance and reasons for success. The key is GCA FORUMS, Great Content Authority FORUMS powered by Gustan Cho Associates, it gives GCA FORUMS creditbility and authority because Gustan Cho Associates is a licensed mortgage company with a national operations and is licensed in 48 states, including Washington, DC, Puerto Rico, and the United States Virgin Islands (MA and NY is pending). Gustan Cho Associates has other national online mortgage and real estate platforms and portals that are wholly owned subsidiaries of Gustan Cho Associates. We have more specific information about GCA FORUMS’ growth or comparative performance. If you have access to specific data or sources about their growth, I’d be happy to discuss those details. Please visit https://www.gustancho.com/

gustancho.com

GCA Mortgage | Mortgage Experts With No Overlays

Whether you’ve gone through bankruptcy, divorce or you are a first-time homebuyer, Gustan Cho Associates are experts in difficult loans

What do you think will happen if Kamala Harris picks Michelle Obama as her vice presidential runner mate? Old Joe will be 81 come November, do you really think he will run again. It ain’t gonna happen! Liberals control the west coast from San Diego to Seattle. Why place liberals in charge to continue control in these area plagued by homelessness and crime? They believe that housing is a “God given right and the government should furnish these homes. This is called “West Coast Liberaism.” California and Oregon lead the way with homelessness. Is their answer to supply homes to these people? Drug overdose is on the rise.

I love the west coast, I spent 24 years there, some areas are absolutely breathtaking. I watched as liberals gave everything away. When Arnie, the governator was in office, life was bearable. Gun violence is down due to stringent gun laws, the few people arrested for gun issues are moved through the courts and released through the liberal system. Oregon leads in mental health unawareness.

This is a possibility, I believe liberalism will hurt people more then help them. If the “West Coast Liberalism,” is allowed to spread, it will spread across the country like wild fire. Some states will never accept this form of government. Mostly Northen states and Southern states wont comply with the mandates, don’t mess with Texas! I read a story about a kindergarten school in Oregon installing condoms in both and boy’s and girl’s restrooms. Do we really want this?

James O’Keefe an undercover journalist and former President of Project Veritas went on a date with a gay senior White House Cyber Security Executive Advisor confirming Dementia Joe Biden does have Dementia and is Senile. Also mentioned is Kamala Harris is not liked and not respected by staff members and senior White House advisors

https://youtu.be/UfAvM7c4Jz0?si=IES5sHCVpkDPrg7O

GCA FORUMS and SUBFORUMS is a one-stop all-in-one comprehensive online community that covers everything to do with life. Includes everything from real estate, all different types of real estate, autos, boats, airplanes, motorcycles, classic and exotic cars, jokes, business, career opportunities, dogs, cats, reptiles, birds, all other pets, all different types of investments, homeownership, renting homes, and thousands of other topics. GCA FORUMS is a top of the line online message board with active participants and professionals in almost every field out there.

What Makes Great Content Authority (GCA) FORUMS the Best and different than the competition? Too many to list, folks. We hope you become a member of our active online community.

Great Content Authority (GCA) FORUMS stands out as a premier online forum for several reasons. Here’s an overview of what makes GCA forums the “platinum” standard and the best choice compared to other online forums:

Diverse Range of Topics:

Comprehensive Coverage: GCA FORUMS covers many topics, including real estate, mortgage, financing, investing, garage sales, exotic cars, pets, home improvements, and more. This diversity attracts a broad audience and provides valuable information across different fields.

Expert Contributions:

Industry Experts: The forum attracts experts in various fields who share their knowledge and insights. This includes real estate professionals, mortgage brokers, financial advisors, and more.

Quality Content: Knowledgeable contributors ensure high-quality discussions and reliable information.

User-Friendly Interface:

Intuitive Design: The forum’s design is user-friendly, making it easy for users to navigate, post, and reply to threads.

Advanced Search: A robust search function helps users quickly find relevant discussions and information.

Active Moderation:

Ensuring Quality: Active moderators ensure the forum remains respectful, relevant, and spam-free, helping maintain a high standard of discourse.

Rule Enforcement: Clear rules and guidelines are enforced to create a safe and welcoming environment for all members.

Engaging Community:

Supportive Members: The forum fosters a supportive and engaging community where members can seek advice, share experiences, and build connections.

Networking Opportunities: Users can network with like-minded individuals and professionals, opening up opportunities for collaboration and mentorship.

Resource Sharing:

Valuable Resources: Members can share links, documents, and other helpful resources for the community.

Expert Articles: Experts and seasoned professionals often post articles, guides, and how-to manuals, enriching the forum’s content.

Up-to-Date Information:

Current Trends: The forum informs members about industry trends, news, and developments.

Timely Updates: Regular updates and active discussions about current events ensure the information is always relevant.

Inclusive Environment:

Diverse Membership: The forum welcomes members from different backgrounds and industries, fostering an inclusive environment.

Respectful Discussions: Focusing on respectful and constructive discussions helps create a positive community atmosphere.

Tools and Features:

Private Messaging: Users can communicate privately for more personal or confidential conversations.

Customization: Members can customize their profiles and subscribe to specific categories to receive notifications about new posts and threads.

Commitment to Excellence:

Continuous Improvement: GCA FORUMS is committed to continuous improvement, regularly updating features and content to meet the needs of its members.

Feedback Mechanism: The forum encourages feedback from members to make ongoing enhancements.

Conclusion:Great Content Authority (GCA) FORUMS stands out as a top-tier platform due to its comprehensive range of topics, expert contributions, user-friendly interface, active moderation, engaging community, and commitment to excellence. These features create a valuable resource for anyone looking to gain insights, share knowledge, and connect with others in their field. Whether you’re a professional or an enthusiast, GCA FORUMS provides the platinum standard of online discussions and networking. If you have questions or need further assistance, feel free to ask!

• This discussion was modified 1 year ago by  Sapna Sharma.
• This discussion was modified 11 months, 1 week ago by  Sapna Sharma.
• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.
• This discussion was modified 6 months, 2 weeks ago by  Sapna Sharma.
• This discussion was modified 6 months, 2 weeks ago by  Sapna Sharma.
• This discussion was modified 6 months, 2 weeks ago by  Sapna Sharma.

Angie Crippen of Online Learning has been very helpful in getting me the little information available with the UTAH PLM Practice Exams. I am taking the test for the sixth time tomorrow and studying for the first time with the practice exams I purchased from Mortgage Educators and the AX5 Utah Practice Test from ONLINE LEARNING. Like to thank Angie Crippen for the help in helping me in having me get the proper study practice exams for the UTAH PLM EXAM.

Moving to Rhode Island can be an exciting adventure! Whether you’re relocating for work, school, or just a change of scenery, Rhode Island has a lot to offer. Here are some tips to help you with your move:

1. Research the Area: Take the time to learn about the different neighborhoods and cities in Rhode Island. Each place has its own unique characteristics, so finding the right fit for your lifestyle is important.

2. Housing: Look for housing options that suit your needs and budget. Rhode Island offers a variety of housing types, from apartments in urban areas to single-family homes in suburban neighborhoods.

3. Cost of Living: Consider the cost of living in Rhode Island, as it can vary depending on the location. Generally, it’s more affordable than some neighboring states, but expenses can still differ significantly between areas.

4. Employment Opportunities: If you’re moving for work, make sure to explore the job market in your field. Rhode Island has a diverse economy, with sectors such as healthcare, education, tourism, and manufacturing.

5. Transportation: Rhode Island is a small state, making transportation relatively convenient. The public transportation system includes buses and trains, and driving is also a common mode of transport.

6. Weather: Rhode Island experiences all four seasons, with winters being cold and summers being warm and humid. Make sure to prepare accordingly with appropriate clothing and gear.

7. Outdoor Activities: Rhode Island has a beautiful coastline, offering plenty of opportunities for outdoor activities like beachcombing, swimming, and water sports. Additionally, there are parks, hiking trails, and recreational areas to explore.

8. Register Your Vehicle: If you’re bringing a car, you’ll need to register it with the Rhode Island Division of Motor Vehicles within 30 days of moving.

9. Establish Residency: After moving, you should update your address on important documents like your driver’s license, voter registration, and other official records.

10. Explore Local Culture: Rhode Island has a rich history and vibrant arts scene. Take some time to visit museums, art galleries, and historical sites to immerse yourself in the local culture.

11. Make New Connections: Join local groups or clubs related to your interests or hobbies to meet new people and build a social network.

12. Embrace Seafood: Rhode Island is known for its delicious seafood, so be sure to try some of the local specialties like clam chowder, lobster rolls, and stuffies (stuffed clams).

Remember, moving to a new state can be both exciting and challenging. Take your time to settle in and make the most of your new Rhode Island experience!

https://www.youtube.com/watch?v=WQG8j0Ns0uw

Buying rental properties with hard money loans is a great idea if you need to renovate the property. Hard money loans are easy and fast to get approved and closed. Most hard money lenders like to extend a one-year term on hard money loans. Here is a blog on buying rental properties with money loans on Gustan Cho Associates. It is a comprehensive blog on buying rental properties with hard money loans. https://gustancho.com/buying-rental-properties-with-hard-money-loans/

• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.

gustancho.com

Real Estate Investing Mortgage Loan Programs For Investors

Real estate investing comes with risk. Rewards can outweigh the risks. The acquisition price is the key most important factor for property investors.

There is thousands of acres right across the Illinois/Wisconsin border on the Wisconsin side. Any real estate investor delve into buying acreage and subdividing into lots and building manufactured homes? Homes in Illinois are skyrocketing due to competition so why not cross the Illinois-Wisconsin state line and start subdividing acreage and build your dream home. Manufactured homes are better looking and better built than stick built homes. Plus the cost is a fraction of stick built homes. Amazing deals on manufactured homes.

Per CEO MIKE KORTAS NEXA Mortgage has submitted the NMLS State Mortgage Corporate Application in New York. New York has a reputation for taking longer than any other states in approving state Mortgage NMLS licenses for companies. Branches and individuals for their NMLS licensing. The tentative expected date is around six months to one year. We will keep everyone updated occasionally when we hear anything.

• This discussion was modified 8 months, 2 weeks ago by  Gustan Cho.

Listen to this entrepreneur explain how the food truck business works. He says the labor and food costs are the biggest expense. Location is very important—strong AC during summer and good heat in winter. Keep stability. Don’t keep on driving around. Stay in one spot for at least one year.

https://www.youtube.com/watch?v=Qi_RBWualJ8

Getting a mortgage in North Dakota involves several steps similar to other states. Here’s a general process:

1. **Evaluate your Financial Situation**: Analyze your credit score, income, debt, and financial stability. These factors will determine the terms and rates of your mortgage. If your credit score is low, you might need to take steps to improve it before applying for a mortgage.

2. **Research Different Types of Mortgages**: There are various types of mortgages – conventional, Federal Housing Administration (FHA), Veteran’s Administration (VA), and United States Department of Agriculture (USDA) loans. Each has different requirements and benefits. Look into these to see which one is the best fit for you.

3. **Budget for Your Home**: Decide on a price range for your home. The amount of mortgage you’ll need will depend on this. Remember to include the down payment (typically 3-20% of the home price), closing costs (2-5% of the loan amount), and monthly payments (including insurance, taxes, and private mortgage insurance if your down payment is less than 20%).

4. **Preapproval**: A preapproval letter from a lender tells you how much you can borrow, based on your financial information. This makes you a more attractive buyer to sellers. To get preapproved, you’ll need to provide your lender with various financial documents, like pay stubs, tax returns, and bank statements.

5. **Find a Lender**: Research various lenders and compare interest rates and terms. North Dakota has numerous local lenders as well as national banks and online lenders who can provide mortgages.

6. **Apply for the Mortgage**: Once you’ve chosen a lender and a type of mortgage, you’ll need to fill out an application. This usually involves providing more in-depth financial information.

7. **Home Inspection and Appraisal**: After your offer on a house is accepted, you’ll usually need to get a home inspection to check for any unseen issues. Your lender will also order an appraisal to determine the home’s value.

8. **Close on Your Home**: If everything goes smoothly with your application, inspection, and appraisal, you’ll then be able to close on your home. This involves signing a lot of paperwork, paying closing costs, and receiving the keys to your new home.

Remember, each person’s situation is unique and these steps might vary based on personal circumstances. It’s important to consult with a financial advisor or real estate professional to understand your options and decide the best path forward.

South Dakota, located in the Midwestern region of the United States, has a diverse array of beautiful homes in its towns and cities. Some of the best places to live with picturesque residences include:

1. **Sioux Falls**: As the largest city in the state, Sioux Falls offers a mix of urban living and outdoor activities. It has many upscale neighborhoods with beautiful homes, like the historic McKennan Park district.

2. **Rapid City**: Known as the “Gateway to the Black Hills”, Rapid City is surrounded by breathtaking natural beauty. The West Boulevard Historic District showcases many beautiful historic homes.

3. **Spearfish**: Nestled in the northern Black Hills, this small city has an abundance of outdoor activities and is near Spearfish Canyon, a location known for its natural beauty.

4. **Deadwood**: This historic city offers a blend of modern living with an old western charm. Homes here have a unique architectural style and historic feel.

5. **Brookings**: Home to South Dakota State University, Brookings has a vibrant community with a number of beautiful homes, particularly in the historic districts.

6. **Pierre**: As the capital city of South Dakota, Pierre has many beautiful homes. With the Missouri River running alongside the city, some residences even offer waterfront views.

7. **Aberdeen**: This city is a regional hub and the third most populous city in the state. The historic districts, like Highlands Historic District, feature lovely homes with classic architecture.

8. **Hill City**: Known as the “Heart of the Hills”, Hill City is the oldest city in the Black Hills and has many beautifully designed homes amidst the forests and hills.

9. **Vermillion**: Home to the University of South Dakota, Vermillion has a rich cultural scene and an array of housing options, from historic houses to modern designs.

10. **Belle Fourche**: This small town is a rural, scenic paradise with the Redwater River flowing through it. Belle Fourche has many charming, picturesque homes.

Remember to visit these places personally and consider other factors like cost of living, education, employment opportunities, healthcare facilities, and community engagement while deciding where to live. Also, remember that “best” and “beautiful” are subjective terms, and personal preferences may vary.

Utah requires 15 NMLS hours to get a mortgage loan originator license. This extra 15 hours of NMLS CE is a one-time deal besides the 20-hour NMLS CE course required for loan officers. If you want to be a manager because you have a branch office or a mortgage company, you need to take an additional 40 hours of NMLS CE course and take a state Principal Lending Manager (PLM) four-hour PLM exam. The exam is for the state of Utah DRE/DFI and is over 200 questions. The issue is getting study materials with practice exams for the Utah Principal Lending Manager license is very difficult. I had to take the 40-hour UTAH PLM course two times because the class is only good for one year. I failed the Utah Principal Lending Manager license twice and I am scheduled to take the third time on Monday July 24th, 2023. I will keep you all posted.

Lending Network, LLC offers hard money loans up to 70% loan-to-value in most states nationwide. HARD MONEY LOANS loan-to-value up to 75% in Utah and Nevada at Lending Network, LLC. per CEO Don Howell.

Hard Money Loans

Hard money loans are short-term loans secured by real estate. These loans are primarily used by real estate investors to quickly finance the purchase and renovation of a property, often to sell it for a profit (fix-and-flip) or refinance it into a long-term loan. Hard money loans are typically easier to obtain than traditional mortgages but come with higher interest rates and shorter terms.

Key Features of Hard Money Loans:

Quick Approval and Funding: Hard money loans can be approved and funded faster than traditional loans, often within days.

Asset-Based Lending: These loans are based on the property’s value as collateral rather than the borrower’s creditworthiness.

Higher Interest Rates: Interest rates on hard money loans are generally higher than those on conventional loans, reflecting the higher risk for lenders.

Short-Term: Hard money loans typically have terms ranging from 6 months to a few years, making them suitable for short-term projects.

Flexible Terms: Lenders can be more flexible with loan terms, allowing for tailored agreements based on the borrower’s and project’s specific needs.

Down Payment: Borrowers usually need to make a significant down payment, often around 20-30% of the property’s value.

Common Uses of Hard Money Loans

Fix-and-Flip Projects: Financing for purchasing, renovating, and reselling properties quickly for a profit.

Bridge Loans: Temporary financing until permanent financing can be secured or an existing obligation is removed.

Construction Loans: Funding for new construction projects or major renovations.

Land Loans: You are purchasing land to develop it in the future.

Pros and Cons of Hard Money Loans

Pros of Hard Money Loans

• Fast approval and funding
• Less stringent approval criteria
• Flexible loan terms
• Useful for time-sensitive projects

Cons of Hard Money Loans

• Higher interest rates
• Shorter loan terms
• A larger down payment is required.
• Higher risk of default due to shorter repayment period

Finding Hard Money Lenders:

Local Real Estate Investment Groups: Networking with local investors can lead to recommendations for reputable hard money lenders.

Online Directories: Websites and directories list hard money lenders by region and specialty.

Mortgage Brokers: Some brokers specialize in hard money loans and can connect borrowers with suitable lenders.

Steps to Obtain a Hard Money Loan:

Identify a Property: Find a suitable property for investment that meets the lender’slender’s criteria.

Prepare Documentation: Gather necessary documents, including property details, renovation plans, and a clear exit strategy.

Contact Lenders: Reach out to potential hard money lenders to discuss terms and conditions.

Property Appraisal: Appraising the property to determine its current and after-repair value (ARV).

Review and Accept Terms: Review the loan terms, interest rates, and repayment schedule, then accept the best offer.

Close the Loan: Complete the loan closing process and receive the funds.

Feel free to ask if you have any questions about hard money loans or need assistance finding a lender!

https://gustancho.com/what-are-hard-money-lenders/

• This discussion was modified 8 months, 3 weeks ago by  Gustan Cho.
• This discussion was modified 2 days, 12 hours ago by  Sapna Sharma.

gustancho.com

What Are Hard Money Lenders

What Are Hard Money Lenders? Hard Money Lenders are investors who lend money on real estate based on the asset rather than the credit of the borrower.

Great NEWS. Like to thank our National Operations Director at Gustan Cho Associates Angelica Torres for coordinating the team at Gustan Cho Associates | NEXA Mortgage to officially be an approved lender for Utah Down Payment Assistance homebuyers program. More details on the two down payment assistance homebuyer’s program coming soon.

• This discussion was modified 8 months, 3 weeks ago by  Gustan Cho.