Gustan Cho Associates's video: Conventional Loan With Low Credit Scores

1. Conventional lending requirements based on creditworthiness assessment * Borrowers may qualify for a conventional loan with a low credit rating. With low credit scores, the minimum credit score required for conventional loans is 620 points. - Borrowers with a credit rating below 620 are not eligible for conventional loans - Must try to get a credit score above 620 - In addition to meeting the minimum 620 credit ratings, the maximum debt-to-income ratio allowed for conventional loans is a 50% debt-to-income ratio - Borrowers with early bankruptcy, after the redemption date, there is a mandatory waiting period of four years in accordance with Chapter 7 Bankruptcy - There is a waiting period of two years after the end of the Chapter 13 bankruptcy proceedings - There is a waiting period of four years after the Chapter 13 issue date - The post-contract period is 4 years instead of foreclosure and / or short sale * There is a 7-year waiting period to qualify after standard exclusion. Read more https://gustancho.com/conventional-loan-with-low-credit-scores * You want to know more, contact The Gustan Cho Team at 262-716-8151 or send a text message for a faster response. Or write to us at gcho@loancabin.com. We are available 7 days a week, in the evening, on weekends and holidays. * CHECK IF YOU QUALIFY: www.gustancho.com/fast-quote ***** Follow me ***** on Social Media 1. https://www.facebook.com/TheGustanChoTeam/ 2. https://www.facebook.com/alexcarlucciMortgage/ 3. https://www.instagram.com/gustanchoas... Be sure to subscribe for more: https://www.youtube.com/c/GustanChoAssociates ALEX CARLUCCI - SVP Mortgage Banker, NMLS # 229891 ALEX STATE LICENSES: - Alabama - Colorado - 100511536 - Florida - LO40799 - Illinois - 031.0026265 - Indiana - 38913 - Michigan - 229891 - Mississippi - Pennsylvania - 72654 - Tennessee - 200345 COMPANY ALL-STATE LICENSES: - Alabama, California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, New Jersey, Pennsylvania, Tennessee, Texas , Ohio All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Loan Cabin, Inc. and GCA does not guarantee the quality, accuracy, completeness, or timeliness of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Loan Cabin, Inc.. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Copyright © 2021 - Gustan Cho Associates NMLS 873293, DBA of Loan Cabin Inc. NMLS 165732 Address: 1910 S Highland Ave, Suite 300 Lombard, IL 60148