Loan Officer Gustan Cho
Loan OfficerForum Replies Created
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Here is a blog written by Chad Bush about the California Housing Market Forecast for 2025. @chadbush
https://gustancho.com/california-housing-market-forecast/
gustancho.com
California Housing Market Forecast For 2025
California Housing Market Forecast for 2025 is expected to be strong despite many Californians fleeing the state due to incompetent leadership
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You nailed it. I love Koreatown in Los Angeles. California is so racially and ethnically diverse and really miss it. There’s a reason why people pay a premium living in Orange County on a million dollar home versus in Inbredville, Arkansas in a $90,000 double wide with chicken shacks and goats as pets. Lol. Love it. Your reasoning behind it is spot on and it is the responses I get. I will tell you, you Californians need normal people to run the state and get this clown Gavin Newscum out of office. The son of a bitch wants little children to have confidentiality from their parents knowing if they want a sex change. The child can tell their teacher and principal and the school staff cannot let the parents know. Fuck Him and have him get castrated. WTF is he thinking. A total creep. God created man and woman and nothing in between. People who are confused on weather to cut off the peep do not need equal rights. They need mental illness and psychological help. They need to tune up their chromosomes and hormone tune up. I don’t want to start this because I get upset. When I was growing up and in school, none of this shit was public. The buck stops with people being gay (homo, lesbian). Not transgender or dragon queen.
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Thanks, Chad for a hands on insight on buying a home in Orange and Los Angeles, County California. I used to be a regional Vice President of a stock brokerage firm and was relocated to Marina del Rey, California back in 1989 until 1992. I rented a two bedroom, two bath condo in Marina del Rey, California, which is Los Angeles County. I actually remember the condo complex, Mariners Village located at 4652 Via Marina, in Marina del Rey. Just ten minutes from the airport. My office was located at 5777 Century Boulevard right across Los Angeles International Airport, which I can see jets launching and taking off from my 17th Floor Office. My lease on my rental unit was $3,500 per month. I got transferred to Scottsdale, Arizona first before getting transferred to Los Angeles. The same sized condo in Scottsdale, Arizona, the rent was $800.00. Home prices in Los Angeles area during the time I lived there was averaging $500,000 compared to $180,000 in Scottsdale, Arizona. My daughter Monica was born in Little Company of Mary Hospital in Torrance. One thing about home prices in Orange County and Los Angeles County is it will never plummet because of California regulations. Unlike other states, it is very difficult to build and develop homes throughout the entire state due to strict environmental and zoning regulations. Also, everything in California is expensive including taxes. On the flipside, most wage earners make a lot more in California than other states. The state if gorgeous and the state is so diversified with killer weather, great beaches, top universities, and many opportunities. Lots of foreign money being rolled into California. Post pandemic, many workers converted to remote workers. Many remote wage earners who did not have an opportunity to ever own a home because they were priced out of the housing market can now exit California to other states with affordable housing. I know friends who are remote workers and many loan officers who can live in any state they want who will NEVER leave California. One of my buddies is from Milwaukee Wisconsin said he loves living in Sacramento and will never leave California. His thing is the gorgeous weather. He is willing to pay the higher taxes, gas prices, high cost of living, and asinine regulations and law. Chad, what is your reason for loving the state. You can live in any state you want since you and your wife are remote wage earners. By the way, appreciate your advice about looking at other housing options besides single-family homes. I know there are many counties with reasonable affordable housing too. Thanks again.
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Good morning, Peter. Chase is now 18 months old and he has been following me wherever I go. When I go to the kitchen, he gets his red softball size ball and goes ahead of me and then stops every three feet to turn around to see if I am coming. He then trots three more feet comes to an abrupt halt and turns around again to make sure I am still headed towards the kitchen which the side door of the garage is there. He thinks I am going outside to play fetch. I veer to the left towards the refrigerator and he’s by the door with his red ball in his mouth. He then looks at me with the whites of his eye showing and fucks me up. How could I say NO to him with those sad eyes. I then drop whatever I am doing and head towards the garage service door. He sees me and he jumps on all four’s like a pony. I then go out to play fetch with him. Happiest dog ever. When we come in, he knows I am heading towards my home office or bedroom so he goes ahead of me and repeats the process of stopping every three feet to see if I am coming. I dropped so many food plates or phone due to running into him. This 18 month old German Shepherd got me trained and figured out. I have 12 dogs but I spend a lot of time with Chase. My first dog was a German Shepherd so I have been spoiling him since I got him. He normally goes everywhere I go including groceries, pharmacy, errands, and office. The more time you spend with your dog, the more they bond with you. Us humans are the culprit of getting our dogs check on us. The more I think about it, the more I think Chase is playing me like I am the dog and he is the master. Lol. Peter, please post pictures of Bullet.
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There are multiple down payment assistance programs in California. Here is an overview of a few major programs and their typical qualifications:
CalHFA MyHome Assistance Program:
- Who qualifies: Those buying a home for the first time (have not owned a home in the past three years).
- Minimum credit requirement: 660 FICO. Completion of homebuyer education course mandatory.
- Income limits differ by county.
- The property has to be owner-occupied.
- Details: Up to 3.5% of purchase price or appraised value.
- Deferred junior loan.
- Must be used with CalHFA’s first mortgage.
CalHFA Zero Interest Program (ZIP):
- Who qualifies: It is the same as the MyHome program.
- Minimum credit requirement: 660
- Income limits apply.
- Details: 0% rate of interest.
- Up to 3%-4% of the amount lent on the first mortgage loan.
- Must be used with CalHFA’s first mortgage.
Golden State Finance Authority (GSFA) Platinum Program:
- Who qualifies: Not restricted to first-time buyers.
- Minimum credit requirement: 640 FICO.
- Income limits up to 140% of the area’s median income.
- Details: Up to 5% of the loan amount.
- It can be forgiven after three years (20% each year).
California Homebuyer’s Down Payment Assistance Program (CHDAP):
- Who qualifies: First-time buyers only.
- Income limits vary by county.
- Completion of homebuyer education is mandatory.
- Details: Deferred junior loan.
- Up to 3% of purchase price or appraised value.
General points:
Bad credit: Most programs require at least fair credit minimums, meaning over 620 ratings on average. Some might accept lower scores but enforce stricter conditions instead.
Repayment methods: Many involve deferred payments due upon sale/refinance/when the first mortgage is paid off. Others offer partial forgiveness options, too.
Caps on earnings: Usually based on area median income levels (AMI). They vary from one scheme to another.
Homebuyer education: Homebuyer education is usually required under most programs.
Approval time: This can normally take 30-45 days alongside the primary mortgage process, but this may vary considerably.
It’s important to note that program details can change, or additional programs could be available locally. For the most accurate and up-to-date information, it is recommended to consult a housing counselor or lender approved by the California Housing Finance Agency (CalHFA).
Remember that eligibility and terms are often location-specific within California and subject to current funding availability, so always verify what’s current with providers themselves (or their authorized lenders).
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Here’s Kamala Harris lying again and again and then again.
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Ramon, the best person to answer is Chad Bush. Chad Bush is a dually licensed realtor and loan officer. Chad and his wife own a house in Orange County California which is mega bucks homes. Young couple both working full time. Also, check out the California Mortgage Calculator.
https://gustancho.com/california-mortgage-calculator/
gustancho.com
California Mortgage Calculator | How Much House Can I Afford
The California Mortgage Calculator will get you the most accurate monthly mortgage payment which includes the PITI, MIP, and DTI
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California Governor Gavin Newsom presents details of his budget for 2024. The state is facing major budget deficit due to poor leadership and incompetent politicians starting from the top, which is the Governor’s Office. Gavin Newsom proposed and set some DUMB DUMB new laws and regulations which is ruining the economy of California. Gavin Newsom bright genius idea of increasing minimum wages to $20 per hour for for fast food workers is backfiring on him. Hundreds of restaurants are either fleeing the state, or closing their restaurants, or going bankrupt. Restaurants are firing thousands of workers and replacing them with robots and other solutions because the minimum wage increase is not within their budget. Newsom’s genius ideas is backfiring in more than one way. After implementing electric cars, the state suffered loss of revenues from the Gas Tax. The idiot Governor then proposed a $0.30 cents a mile transportation tax. Newsom is facing major economic crisis because of the tens of thousands of people and businesses Fleeing the state of California due to high cost of living, high taxes, high home prices, too much regulations that make it impossible to do business in the state, and ridiculous far left liberal ideology.
https://www.youtube.com/live/AZbjRpJJfbc?si=rwdqJEz9YM0SRjZ3
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I grew up in Illinois since 1973. My family moved to Mt. Prospect, Illinois where I went to grade school, junior high school, high school and college. Moved to Scottsdale, Arizona, and Los Angeles, California due to work but eventually returned to Illinois. Purchased a two-unit multi-family house in Chicago’s North Park neighborhood. In 2000, I purchase a single-family home on one acre in South Barrington, Illinois and in 2002, I purchase a larger 20,000 square ft. home on 5 acres in Barrington Hills, Illinois. Then in 2009, I moved to Kenosha County, Wisconsin on a 5,900 square feet 7 acre home. The Chicagoland area will always be home but there are a lot of difference between living in Illinois and Wisconsin. First and foremost, traffic is much lighter at all times of the hour. Taxes are substantially lower. People are nicer. You get a lot more house for the money. There are more scenic places and lakes for entertainment. However, you cannot beat the ethnic people, shops, and restaurant in Illinois over Wisconsin. Chicago and its surrounding suburbs is home to the best ethnic groceries, restaurants, and shops that is probably the best in the nation. I live on the border of Wisconsin and Illinois. Whenever I need to find an ethnic restaurant such as Chinese, Polish, Indian, Mexican, or Korean, I need to drive south of the border into Illinois to find the best ethnic food eateries and grocery stores. There are pros and cons if you compare living in Wisconsin versus Illinois. You get a lot for the money in Wisconsin. Affordable housing, rent, cost of living, cost of goods and services, lower state income taxes, lower sales taxes, lower property taxes, and a lot more house for the money. Wisconsin has the best higher education system compared to Illinois. The University of Wisconsin in Madison is one of the best schools of higher learning in the nation. There are over a dozen state universities of the University of Wisconsin in the state and each campus has affordable tuition, room and board, and a great curriculum recognized by national and global institutions of learning. The state has a great landscape and picturesque lakes. Wisconsin Dells has the nations largest and well known waterparks attracting tens of thousands of visitors every year. My office is in Oakbrook Terrace, Illinois which is a one hour drive from my residence.
https://gustancho.com/mortgage-with-unpaid-collections-in-wisconsin/
https://gustancho.com/mortgage-with-unpaid-collections-in-wisconsin/
gustancho.com
Mortgage With Unpaid Collections in Wisconsin
Homebuyers can qualify for a mortgage with unpaid collections in Wisconsin. Borrowers do not have to pay off outstanding collections/charge offs
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