We are working on developing a new mortgage loan officer learning training academy for new loan officers and dually licensed realtor and MLO partners. Stay tuned.

Ronda Butts, a dually licensed realtor and loan officer at Gustan Cho Associates and Lending Network, LLC, moved to Birmingham, Alabama. Ronda has been telling about the housing market in the state of Alabama but especially the luxury housing market in Birmingham. Amazing luxury homes you can get for the money in Birmingham. Ronda, also the CEO, DIRECTOR, AND EDITOR in Chief for One Solution Real Estate, http://www.onesolutionrealestate.com, wrote a comprehensive blog about why people move to Alabama and the luxury housing market in Birmingham that I like to share with our viewers. Here is the article https://gustancho.com/reasons-homebuyers-move-to-alabama/

Gustan Cho Associates is now licensed in the U.S. Virgin Islands. We can do residential, business, and commercial loans in the U.S. Virgin Islands. Hard Money loans up to 70% is a popular commercial loan program through Lending Network, LLC. Visit us at http://www.lendingnetwork.org for any commercial loan inquiries.

Next week, Gustan Cho, President of Lending Network, Inc. is going to announce the roll out of the commercial lending programs Lending Network LLC. Gustan Cho will be launching and finalize our commercial lending platform with NEXA Mortgage and AXEN Mortgage. The merger with NEXA/AXEN and Lending Network LLC will be a game changer for NEXA Mortgage loan officers and for recruiting nee loan officers. Stay tuned. For more information please click Lending Network, https://www.lendingnetwork.org/

• This discussion was modified 1 year, 8 months ago by  Gustan Cho.
• This discussion was modified 1 year ago by  Sapna Sharma.
• This discussion was modified 11 months, 4 weeks ago by  Sapna Sharma.

lendingnetwork.org

Home - Lending Network, LLC

COMMERCIAL LOANS, COMMERCIAL REAL ESTATE

Gustan Cho Associates is now licensed in Puerto Rico and the U.S. Virgin Islands. Even though we are licensed in Puerto Rico, our list of wholesale lenders is limited. Christian Sorenson of Equity Prime Mortgage is one of our top lenders in Puerto Rico. Gustan Cho is getting a list of hard money and commercial lenders for Lending Network, LLC, for Puerto Rico on commercial loans:

Here is a blog about getting a mortgage loan with a U.S. lender for a home purchase in Puerto Rico https://gustancho.com/how-to-get-a-mortgage-in-puerto-rico/

Here is an article about buying oceanfront property in Puerto Rico and getting financed with a lender base in the United States https://gustancho.com/oceanfront-homes-in-puerto-rico/

• This discussion was modified 2 years, 9 months ago by  Gustan Cho. Reason: Want to get notified
• This discussion was modified 1 year ago by  Sapna Sharma.
• This discussion was modified 11 months, 4 weeks ago by  Sapna Sharma.

gustancho.com

Easy Guide on How To Get a Mortgage in Puerto Rico in 2025

The best advice how to get a mortgage in Puerto Rico is to consult with a lender with no overlays with access to multiple wholesale lenders

Lending Network LLC has Hard Money Loans available to qualified borrowers at 75% LTV on commercial loans and investment properties. Case by case scenario for higher loan to value commercial loans

Found that HUD does not guarantee FHA LOANS DURING CHAPTER 11 BANKRUPTCY REPAYMENT PLAN. WILL GET THIS FACT CHECKED.

Hard Money Loans at 70% LTV on investment properties non DODD FRANK. No residential property only investment properties and commercial properties. 75% LTV in Utah and Nevada
Check out our Commercial Loans threads

Wisconsin is one of 9 community property state. On FHA LOANS the spouse’s debts are included on debt to income calculations. Spouse’s debts are not included on conventional, VA, Jumbo and non-QM loans

Does Tennessee cap borrower paid compensation at 2%? Never heard of a state allowing 2.75% Lender Paid comp at 2.75% but lower on borrower Paid yield spread premium.

What are the maximum debt-to-income ratio requirements to qualify for jumbo loans?

Non-QM late payment guidelines are set by individual wholesale lenders. Non-QM loans are portfolio loans and do not have uniform standardized agency mortgage guidelines like qualified mortgages. One non-QM lender can have a certain guidelines while a different lender will not. Only a few wholesale lenders will do non-qm loans for late mortgage payments in the past 12 months. In this FORUM, we will cover non-QM late payment guidelines by non-QM portfolio wholesale lenders.

There are a lot of scums of this Earth people in existence today. There are selfish people, liars, thieves, and people with no morals who are willing to take advantage of you any chance they can. However, the world 🌎 is not all bad. There are kind people who are not selfish with a good heart. Here’s a short video clip about generosity and kind hearted ♥️ people:

https://www.facebook.com/share/v/qyV4z4c42VZEPafk/?mibextid=Ls6BEq

• This discussion was modified 1 year, 8 months ago by  Gustan Cho.

One of my favorite people and mentor Kevin DeLory,

, Chief Lending Officer at Equity Prime Mortgage (EPM). Just love his messages

This question is for Michelle McCue. Alex and I have a disagreement on can a high school graduate qualify for a mortgage if they have a full time job after high school. I say yes because high school is treated no differently than college on the past two years of full time schooling . Please give us your take and guidelines on the loan programs. I have done loans for recent high school graduates.

• This discussion was modified 3 years ago by  Gustan Cho.

Anyone know why mortgage lenders do not like log homes? Log homes are stronger and has better insulation.

• This discussion was modified 3 years ago by  Gustan Cho.

Here is my Ferrari F40 Supercar

https://fb.watch/olpywYwpgh/?mibextid=Nif5oz

Had a memorable great lunch with my two son’s Kristian (32 years old) and Tim (30 years) at Iron Age Korean Steak Restaurant for Father’s Day 2024. Tim called me last week extend an invitation for today at 11:30 am with Kristian. Iron Age Korean Steak House was near the corner of Lake Avenue and Milwaukee Avenue in Glenview, Illinois, an area I grew up but have not been there in decades. Had a great duper memorable lunch. Tons of food, great food, had a few drinks, smiles, and tons of good ole fashing laughs and more laughs. Busted Timothy’s chops and had a great time. Love you Kristian, and Tim. Missed my oldest daughter Monica but got a text from her. Monica lives 5 hours north. North of Wisconsin Dells, Wisconsin. Need to find time to go visit Monica and my new grandson, Alex. Thanks again, boys. Love you and had a great time and enjoyed every minute of it. Love you tons. Enjoy the rest of your Sunday and have fun and be safe. Talk to you, soon. Tim, send me video clips of your two cats. The cats you taught how to play fetch, bark, and act like a dog. Lol. @Chotime @Kristian

https://maps.app.goo.gl/g6fJQfMPDfPjHCGs5?g_st=i

• This discussion was modified 1 year, 9 months ago by  Gustan Cho.
• This discussion was modified 1 year, 9 months ago by  Gustan Cho. Reason: Forgot image
• This discussion was modified 1 year, 9 months ago by  Gustan Cho.

What types of jumbo loans are there, and what are the lending requirements to qualify for jumbo loans?

There are mortgage lenders that have no overlays on VA loans. Lender overlays are higher lending requirements set by individual mortgage lenders above the minimum agency guidelines from the Veterans Administration on VA loans.

If this doesn’t imply my landscaper has ADHD, I don’t know what does. I had to hire a temporarily landscaper from a Craigslist ad to help me with mowing the lawn for $25 dollars for the job and this is what I get.

What are mortgage rates on jumbo mortgages versus traditional conforming home loans?

Real estate investors benefit from using fix and flip loans by getting a mortgage for the cost of the acquisition of the property and the cost of construction all in one loan closing. Once the property has been renovated, the investor will sell it for a profit. Many investors, including novices, can get fix and flip loans and start investing in distressed properties.

There are always two types of costs when you buy a house. There is the down payment and the closing costs. The down payment is a fixed dollar amount. The minimum down payment on FHA loans is 3.5%. The minimum down payment on conventional loans is 3% for a first-time homebuyer and 5% for a seasoned homebuyer. USDA and VA loans do not require a down payment. Closing costs are fees and costs a homebuyer gets charged. Closing costs is not just the cost of the origination from the lender. Any costs and fees associated with the purchase of a home are classified as closing costs. Closing costs includes pre-paids which are escrows.

Closing Costs and Down Payment on a Home PurchaseClosing Costs

Closing costs vary and is not a fixed rate. Closing costs depends on the city, county, state, and the type of property. Closing costs are the fees and expenses incurred during the finalization of a real estate transaction, typically paid at the closing of the deal when the title of the property is transferred from the seller to the buyer. These costs can vary widely but generally range from 2% to 5% of the home’s purchase price. Here are some common components of closing costs:

1. Loan Origination Fees: Fees charged by the lender for processing the mortgage loan application.
2. Appraisal Fee: The cost of having the property appraised to determine its market value.
3. Home Inspection Fee: The cost of a professional home inspection to check for structural issues or necessary repairs.
4. Title Insurance: Protects the buyer and lender from any legal disputes over the property’s ownership.
5. Attorney Fees: Legal fees for the services of an attorney to handle the closing process (required in some states).
6. Recording Fees: Fees charged by the local government to record the sale and transfer of the property.
7. Survey Fee: The cost of verifying the property’s boundaries and any potential encroachments.
8. Prepaid Costs: These can include property taxes, homeowners insurance, and mortgage interest paid upfront.
9. Private Mortgage Insurance (PMI): If your down payment is less than 20%, you may be required to pay PMI.

Down Payment on a Home Purchase.

A down payment is the amount of money a buyer pays upfront when purchasing a home, typically expressed as a percentage of the home’s purchase price. The size of the down payment can affect the mortgage terms, including the loan amount, interest rate, and monthly payments. Here are some typical down payment options:

1. Conventional Loans: These typically require a down payment of at least 3% to 20% of the home’s purchase price. A higher down payment can result in better loan terms and potentially avoiding PMI if the down payment is 20% or more.
2. FHA Loans: Insured by the Federal Housing Administration, these loans are popular with first-time homebuyers and require a minimum down payment of 3.5%.
3. VA Loans: Available to eligible veterans and active-duty military personnel, VA loans often require no down payment.
4. USDA Loans: Designed for rural homebuyers, USDA loans can also require no down payment.

Example Scenario

For a home priced at $300,000:

• Down Payment (20%): $60,000
• Closing Costs (estimated at 3%): $9,000

Total amount needed upfront: $69,000

Tips for Managing Costs

1. Shop Around for Lenders: Different lenders offer various loan terms and closing cost structures.
2. Negotiate with the Seller: Sometimes sellers are willing to cover part of the closing costs to facilitate the sale.
3. Ask About Closing Cost Assistance Programs: Some states and localities offer programs to help with closing costs for first-time buyers.

Understanding closing costs and down payments is crucial in budgeting for a home purchase and ensuring you are financially prepared for this significant investment.

https://www.gcamortgage.com/down-payment-for-home-purchase/

gcamortgage.com

Down Payment For Home Purchase Guidelines By Lenders

In this guide, we will cover down payment for home purchase requirements by mortgage lenders. Homebuyers planning to purchase a home have two types of costs

This subforum is directed to my friend Johnny Joe @RPE . Stay positive, stay away from negative energy, if there’s a will there’s a will, believe in yourself and your allies, you are not selling but rather offering, work smart vs hard, believe in yourself and success prevails. Never forget how you got to the top.

https://www.facebook.com/share/uYe3yanAzXHDq7Gq/?mibextid=xfxF2i

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VIP Agbero

Back in the day, Stallone was a struggling actor in every definition. At some point, he got so broke that he stole his wife’s jewelry and sold it. Things got so bad that he even ended up homeless....

South Korean Global tech giant Samsung announced Taylor Texas will be home to Samsung’s U.S. semiconductor factory. The breaking announcement puts Taylor Texas on the global map.

https://youtube.com/playlist?list=PLnxykQ4xCbXu9EHcKzr0XqZioCz2CsDfI&si=mPANQR1Bv3ytMvAR

I want to thank my dear friend Peter Arcuri @peter who I highly respect as a client, friend, writer, advisor, and business associate and partner on all he does for the team at GCA, being my advisor, going over ideas and business plans especially with Great Community Authority Forums, and spirituality and life in general. I like to start this forum to share the views of others on their thoughts and opinions of everything that is going on today in the United States and the world. I like to thank Peter for volunteering of taking on the responsibility of being my mentor and professor on studying and mastering the Christian’s view of the Ten Commandments. As I was working i overheard a YouTube video my wife was listening too and asked her what she was listening too. It seemed like whoever was talking, he stole my principles, ideology, and foundation i live by every day and base most of my business decisions and make my decisions on who my acquaintances and friends are. So I yelled to my wife who’s the guy talking on YouTube. She yells back, “THE TEN COMMANDMENTS.” That’s when I text Peter Arcuri. I will explain on a separate subforum on why I requested Peter for taking on the task on educating me on a following subforum at a later date on this thread. Basically, I asked Peter Arcuri, “Peter, can you teach me all about the ten commandments.” Peter’s response: ” Easy. Don’t Fuck Anyone.” Okay. Now I know where this academic thesis of the Ten Commandments will lead to. Here’s what started all this

https://youtu.be/RbIZsTVNu5M?si=1AI7U97dTIU_snot

• This discussion was modified 1 year, 9 months ago by  Gustan Cho.
• This discussion was modified 1 year, 6 months ago by  Sapna Sharma.
• This discussion was modified 1 year, 6 months ago by  Sapna Sharma.
• This discussion was modified 1 month, 1 week ago by  Sapna Sharma.

Biden Administration is not an inflation fighter

https://youtu.be/plAnR-xxOwA?si=02p7OLrvpvLVk0w0

Americans no longer trust politicians and the mainstream media. Once trust is broken, you can not get it back. Trust was broken with politicians and the media. Ever listen to lying Jim Cramer of MAD MONEY JIM CRAMER show on CNBC? WHAT INFLATION? What do you mean high unemployment? The economy is great 👍. Joe Biden is great. Bidenomics? President Biden is the Navy Seal of Fighting INFLATION 💪 Whooo. We escaped a second GREAT RECESSION. Listen to Janet Yellen and FED Chair Jerome Power about their soft landing. What are they smoking 🚬 🚭 🤔. Please listen to the attached video carefully. It makes all the sense in the WORLD 🌎

https://youtu.be/Jqe0x4gqN_0?si=zm04lNC8PhWgD1XG

California is facing a severe housing inventory shortage despite high rates, soaring inflation, and Californians fleeing the liberal state. Read this informative article by Sarah Wu

https://gustancho.com/california-facing-housing-shortage/