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Home Buyer Mortgage Questions
#1
My wife Ronda Stepp is a very successful Realtor in Texas and Florida.  One of the things that make her successful is her questions. She has always been good with a conversation but in business she asks the right questions.  Homebuyers, whether new Home buyers or seasoned home buyers should ask themselves the right questions and avoid some of the pitfalls of disappointments or frustrations that ultimately will come when buying a new home.   Getting Pre-Qualified is a must for a successful strong offer on a property.  The prequalifying may begin with the first contact with a Realtor but a Pre-approval letter needs to come from an approved Mortgage Loan officer.

http://www.homesnetwork.org/ask-the-righ...tions.html

Larry Stepp     407-922-4755
 
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#2
(10-15-2016, 01:43 PM)Ldstepp3909 Wrote: My wife Ronda Stepp is a very successful Realtor in Texas and Florida.  One of the things that make her successful is her questions. She has always been good with a conversation but in business she asks the right questions.  Homebuyers, whether new Home buyers or seasoned home buyers should ask themselves the right questions and avoid some of the pitfalls of disappointments or frustrations that ultimately will come when buying a new home.   Getting Pre-Qualified is a must for a successful strong offer on a property.  The prequalifying may begin with the first contact with a Realtor but a Pre-approval letter needs to come from an approved Mortgage Loan officer.

http://www.homesnetwork.org/ask-the-righ...tions.html

Larry Stepp     407-922-4755

A properly structured home purchase loan allows you to get the home you want with a payment that fits your budget. Even first time home buyers have many options when it is time to purchase their first home. We can help you choose the right program, price range, and even direct you to the right Realtor for you in your area.

Where Do I Start When I Want to Purchase New Home?

If you are not sure how much home you can afford, what payments fit within your budget, or what type of loan program is right for your home purchase, we can help.

We can help you :

i) Get you pre-qualified so that when you find the right home you can move fast
ii) Decide on an acceptable home price range
iii) Calculate your anticipated monthly payments
iv) Find a Realtor that can help you find the right home
v) Choose the right loan program
AEM Loan - Mortgage Banker
 
Reply
#3
(02-10-2017, 06:31 PM)Aemloan Wrote:
(10-15-2016, 01:43 PM)Ldstepp3909 Wrote: My wife Ronda Stepp is a very successful Realtor in Texas and Florida.  One of the things that make her successful is her questions. She has always been good with a conversation but in business she asks the right questions.  Homebuyers, whether new Home buyers or seasoned home buyers should ask themselves the right questions and avoid some of the pitfalls of disappointments or frustrations that ultimately will come when buying a new home.   Getting Pre-Qualified is a must for a successful strong offer on a property.  The prequalifying may begin with the first contact with a Realtor but a Pre-approval letter needs to come from an approved Mortgage Loan officer.

http://www.homesnetwork.org/ask-the-righ...tions.html

Larry Stepp     407-922-4755

A properly structured home purchase loan allows you to get the home you want with a payment that fits your budget. Even first time home buyers have many options when it is time to purchase their first home. We can help you choose the right program, price range, and even direct you to the right Realtor for you in your area.

Where Do I Start When I Want to Purchase New Home?

If you are not sure how much home you can afford, what payments fit within your budget, or what type of loan program is right for your home purchase, we can help.

We can help you :

i) Get you pre-qualified so that when you find the right home you can move fast
ii) Decide on an acceptable home price range
iii) Calculate your anticipated monthly payments
iv) Find a Realtor that can help you find the right home
v) Choose the right loan program
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#4
Does your company have any sources of piggyback loans.
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#5
How about Non-QM Loans with no waiting period after a bankruptcy?
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#6
(02-10-2017, 06:31 PM)Aemloan Wrote:
(10-15-2016, 01:43 PM)Ldstepp3909 Wrote: My wife Ronda Stepp is a very successful Realtor in Texas and Florida.  One of the things that make her successful is her questions. She has always been good with a conversation but in business she asks the right questions.  Homebuyers, whether new Home buyers or seasoned home buyers should ask themselves the right questions and avoid some of the pitfalls of disappointments or frustrations that ultimately will come when buying a new home.   Getting Pre-Qualified is a must for a successful strong offer on a property.  The prequalifying may begin with the first contact with a Realtor but a Pre-approval letter needs to come from an approved Mortgage Loan officer.

http://www.homesnetwork.org/ask-the-righ...tions.html

Larry Stepp     407-922-4755

A properly structured home purchase loan allows you to get the home you want with a payment that fits your budget. Even first time home buyers have many options when it is time to purchase their first home. We can help you choose the right program, price range, and even direct you to the right Realtor for you in your area.

Where Do I Start When I Want to Purchase New Home?

If you are not sure how much home you can afford, what payments fit within your budget, or what type of loan program is right for your home purchase, we can help.

We can help you :

i) Get you pre-qualified so that when you find the right home you can move fast
ii) Decide on an acceptable home price range
iii) Calculate your anticipated monthly payments
iv) Find a Realtor that can help you find the right home
v) Choose the right loan program
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#7
(02-10-2017, 08:37 PM)Gus Wrote:
(02-10-2017, 06:31 PM)Aemloan Wrote:
(10-15-2016, 01:43 PM)Ldstepp3909 Wrote: My wife Ronda Stepp is a very successful Realtor in Texas and Florida.  One of the things that make her successful is her questions. She has always been good with a conversation but in business she asks the right questions.  Homebuyers, whether new Home buyers or seasoned home buyers should ask themselves the right questions and avoid some of the pitfalls of disappointments or frustrations that ultimately will come when buying a new home.   Getting Pre-Qualified is a must for a successful strong offer on a property.  The prequalifying may begin with the first contact with a Realtor but a Pre-approval letter needs to come from an approved Mortgage Loan officer.

http://www.homesnetwork.org/ask-the-righ...tions.html

Larry Stepp     407-922-4755

A properly structured home purchase loan allows you to get the home you want with a payment that fits your budget. Even first time home buyers have many options when it is time to purchase their first home. We can help you choose the right program, price range, and even direct you to the right Realtor for you in your area.

Where Do I Start When I Want to Purchase New Home?

If you are not sure how much home you can afford, what payments fit within your budget, or what type of loan program is right for your home purchase, we can help.

We can help you :

i) Get you pre-qualified so that when you find the right home you can move fast
ii) Decide on an acceptable home price range
iii) Calculate your anticipated monthly payments
iv) Find a Realtor that can help you find the right home
v) Choose the right loan program
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#8
That doesn't make any sense because I was told upfront by Gustan that it did not matter about the 2 jobs as long as it was in the same industry, without a break in employment, and especially when it was a promotion. It is all of these things.

On that note. What if I quit the St. Vincent job? It would be $1500 in income less a month but what would I be approved for without that?

Sent from my iPhone

On Feb 10, 2017, at 2:06 PM, Michael Gracz <Michael.Gracz@myccmortgage.com> wrote:

Erin,

UW pre approval underwriter will not be able to count all your income, meaning this loan will not be approved. If you work 2 jobs, you need a two year history of maintaining two jobs.

From: brophy_erin@yahoo.com [mailto:brophy_erin@yahoo.com]
Sent: Tuesday, February 7, 2017 8:40 PM
To: Michael Gracz <Michael.Gracz@myccmortgage.com>
Subject: Re: Status

Thanks for the update. I appreciate that.

Sent from my iPhone


Michael Gracz via myccmortgage.onmicrosoft.com
1:16 PM (6 hours ago)

to brophy_erin, me
I can check,

You wouldn’t need to quit the 2nd job, we just cannot count that income due to not having a 2 year history of maintaining two jobs. Let me look into what you can qualify for. Thank you for your patience.

From: brophy_erin@yahoo.com [mailto:brophy_erin@yahoo.com]
Sent: Friday, February 10, 2017 1:15 PM
To: Michael Gracz <Michael.Gracz@myccmortgage.com>; Gustan Cho <glcho65@gmail.com>
Subject: Re: Status

That doesn't make any sense because I was told upfront by Gustan that it did not matter about the 2 jobs as long as it was in the same industry, without a break in employment, and especially when it was a promotion. It is all of these things.
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#9
(02-10-2017, 08:38 PM)Gus Wrote: That doesn't make any sense because I was told upfront by Gustan that it did not matter about the 2 jobs as long as it was in the same industry, without a break in employment, and especially when it was a promotion. It is all of these things.  

On that note.  What if I quit the St. Vincent job?  It would be $1500 in income less a month but what would I be approved for without that?  

Sent from my iPhone

On Feb 10, 2017, at 2:06 PM, Michael Gracz <Michael.Gracz@myccmortgage.com> wrote:

Erin,

UW pre approval underwriter will not be able to count all your income, meaning this loan will not be approved. If you work 2 jobs, you need a two year history of maintaining two jobs.  

Sent: Tuesday, February 7, 2017 8:40 PM
To: Michael Gracz <Michael.Gracz@myccmortgage.com>
Subject: Re: Status

Thanks for the update.  I appreciate that.  

Sent from my iPhone


Michael Gracz via myccmortgage.onmicrosoft.com
1:16 PM (6 hours ago)

to brophy_erin, me
I can check,

You wouldn’t need to quit the 2nd job, we just cannot count that income due to not having a 2 year history of maintaining two jobs. Let me look into what you 
Sent: Friday, February 10, 2017 1:15 PM
To: Michael Gracz <Michael.Gracz@myccmortgage.com>; Gustan Cho <glcho65@gmail.com>
Subject: Re: Status

That doesn't make any sense because I was told upfront by Gustan that it did not matter about the 2 jobs as long as it was in the same industry, without a break in employment, and especially when it was a promotion. It is all of these things.
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#10
Erin

If you have two jobs and be able to use both jobs as qualified income, you need two years seasoning requirements on both jobs in order to use both incomes. If you have one full time job, you can use one job as qualified income but the second job needs to be seasoned for two years. I hope you understand. If you have further questions. please do not hesitate to contact me anytime so I can clarify this issue with you.
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
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