Loan Officer Gustan Cho
Loan OfficerForum Replies Created
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Here’s my friend Mark Chen’s Dutch Shepherd dog that is extremely well trained.
https://www.facebook.com/share/v/sarbmhqCqHWTXDqM/?mibextid=21zICX
facebook.com
This proffesional dog trainer has an incredible bond with his German Shepherd 😍 ❤️
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Here’s a video on how Korean Kalbi is prepared.
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Peter, if you haven’t tried Korean Bulgogi and Kalbi, you need to try it.
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Why does this guy keep on playing fake cop 👮♀️ 😒 over and over and over again. Sign of mental illness.
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Google is out of control
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Here is a cute video clip of Chase.
Marinated short ribs and rib eye.
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Eligibility Mortgage Requirements for Traditional and Non-QM Jumbo LoansTraditional Jumbo Loans
- Traditional jumbo loans are mortgages that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA).
- Traditional jumbo loans are not eligible for purchase by Fannie Mae or Freddie Mac and typically have stricter qualifications.
The following sections will cover the common eligibility criteria for traditional and non-QM jumbo loans.
Credit Score
Minimum Requirement:
- Generally, a credit score of 700 or higher is required. Some lenders may accept scores as low as 680, but higher scores are preferred for better terms.
Down Payment
Standard Requirement:
- A down payment of at least 20% of the home’s purchase price is typically required.
- Some lenders might offer jumbo loans with a down payment as low as 10%, but this often comes with higher interest rates and the need for private mortgage insurance (PMI).
Debt-to-Income (DTI) Ratio
- Most lenders prefer a DTI ratio of 43% or lower. This ratio includes all monthly debt payments divided by gross monthly income.
Income and Employment Verification
Documentation:
- Borrowers must provide proof of stable and sufficient income, typically through W-2s, pay stubs, and tax returns for the past two years.
Self-Employed Borrowers:
- Additional documentation, such as profit and loss statements and business tax returns, may be required.
Asset Reserves
Requirement:
- Lenders often require borrowers to reserve several months of mortgage payments.
- This can range from six to 18 months of principal, interest, taxes, and insurance (PITI).
Property Appraisal
Appraisal Requirement:
- An independent appraisal determines the property’s market value.
- Some lenders may require two appraisals.
Non-QM Jumbo Loans
- Non-QM (Non-Qualified Mortgage) jumbo loans cater to borrowers who do not meet the strict requirements of traditional jumbo loans.
- Non-QM jumbo loans are designed for individuals with unique financial situations, such as self-employed borrowers, fluctuating incomes, or credit issues. We will cover the basic eligibility requirements on non-QM jumbo loans.
Credit Score
Flexible Requirement:
- Non-QM lenders may accept credit scores as low as 620, but higher scores can lead to better terms and lower interest rates.
Down Payment
Varied Requirement:
- Down payments can range from 10% to 30%, depending on the lender and the borrower’s financial profile.
Debt-to-Income (DTI) Ratio
Higher Allowance:
- Non-QM lenders may accept DTI ratios up to 50% or higher, considering the borrower’s financial situation.
Income and Employment Verification
Alternative Documentation:
- Unlike traditional income verification, non-QM loans may allow for bank statements, asset-based, or stated income loans.
Bank Statements:
- Self-employed borrowers qualify using bank statements to demonstrate income over the past 12 to 24 months.
Asset Reserves
Flexible Requirement:
- Reserve requirements can vary, but lenders typically prefer borrowers to have at least six months of reserves.
Property Appraisal
Appraisal Requirement:
- An appraisal is required to determine the property’s value, and some lenders might require additional property evaluations.
- Both traditional and non-QM jumbo loans have specific requirements that borrowers must meet.
- Traditional jumbo loans have stricter criteria, focusing on high credit scores, substantial down payments, and low DTI ratios.
- In contrast, non-QM jumbo loans offer more flexibility in these areas, making them accessible to borrowers with non-traditional income sources or credit histories.
For more detailed information and specific lender requirements, it’s advisable to consult multiple sources and directly contact lenders.
https://gustancho.com/non-qm-jumbo-loans/
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This reply was modified 1 year, 11 months ago by Gustan Cho.
gustancho.com
NON-QM Jumbo Loans For Bad Credit and No-Income Docs
NON-QM Jumbo Loans For Self-Employed Borrowers do not require tax returns. 12 months bank deposits is averaged is used as monthly income
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The attached video clips are the top nine funniest DUI arrests. Nothing good comes out of drinking. Having your DUI arrest go viral on the internet can have some serious negative consequences: Legal Implications: It does not directly impact the legal proceedings or outcome of your DUI case. However, the viral video could potentially be used as evidence against you in court.
Employment: A viral DUI arrest video could jeopardize your current job, especially if your employer has policies against such behavior or it damages the company’s reputation. It may make it very difficult to get hired for future jobs, as the video will likely show up in background checks by potential employers.
Personal/Social: The embarrassing and often unflattering video spreads rapidly online and becomes part of your permanent digital footprint. You may face harsh judgement, ridicule and shaming from those who view the video on social media and the internet. It can damage your personal and professional reputation significantly. Relationships with family, friends and romantic partners may become strained.
Financial: Aside from legal fees, fines and increased insurance costs from a DUI, a viral video could lead to missed job opportunities and lost wages.
While a DUI arrest alone carries serious consequences, having it captured on a viral video amplifies the negative impacts on your life in terms of public embarrassment, online shaming, and potential long-term professional ramifications. It’s an unfortunate situation that follows you indefinitely.
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Heres the link to Iron Age Korean Steak House
Chase wanted to join us. When I was to leave for the restaurant he didn’t want to let me go without him.
https://maps.app.goo.gl/XFNg9LvHeyo3FxqP7
Heres the link to Iron Age Korean Steak House Restaurant
😍🍖🍇🍏
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