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Gustan Cho
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Gustan Cho NMLS 873293 Area Manager of CrossCountry Mortgage Inc.
Gustan Cho NMLS 873293 Area Manager of CrossCountry Mortgage Inc.

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Mortgage Credit Certificate Tax Credit Program (MCC)

CalHFA is partnering with local counties to ensure all qualified Californians have access to a Mortgage Credit Certificate (MCC) program. The MCC Tax Credit is a federal credit which can reduce potential federal income tax liability, creating additional net spendable income which borrowers may use toward their monthly mortgage payment. This MCC Tax Credit program may enable first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar for dollar tax credit on their U.S. individual income tax returns. Here is a blog about California Credit Certificate Tax Credit Program written by Gustan Cho NMLS 873293 of Gustan Cho Associates , https://www.gustancho.com . Here is the link https://gustancho.com/california-mortgag...te-program

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There are a few quick tips on how to raise credit scores to qualify for mortgage. To qualify for a mortgage loan, a borrower needs to meet certain minimum credit score. To qualify for a FHA Loan, minimum credit score requirements for a 3.5% down payment home purchase FHA Loan is 580 FICO credit score. To qualify for a conventional loan, the borrower needs a minimum of 620 FICO credit score. Sometimes a borrower needs a higher than 580 FICO credit score on a FHA Loan because the maximum debt to income ratio cap for borrowers with a 580 FICO credit scores are capped at 43% DTI. However, if your credit scores are greater than 620 FICO, FHA allows a maximum debt to income ratio of 56.9% DTI. Here is a blog written by Gustan Cho NMLS 873293, Area Manager of The Gustan Cho Team @ Platinum Home Mortgage Corporation NMLS 13589 and Editor In Chief for Gustan Cho Associates Mortgage & Real Estate Information Resource Center website, https://www.gustancho.com about Tips On How To Raise Credit Scores To Qualify For Mortgage: https://gustancho.com/how-to-raise-credit-scores-to-qualify-for-mortgage

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The Gustan Cho Team at Platinum Home Mortgage Corporation is now hiring remote loan officers nationwide. Contact Gustan Cho NMLS 873293 by visiting https://www.gustancho.com 

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Like to welcome Nicholas Leptich to The Gustan Cho Team @ Platinum Home Mortgage Corporation and for his first publication on Gustan Cho Associates Mortgage & Real Estate Information Center. Nick Leptich has joined The Gustan Cho Team as a guest writer and our viewers are excited to have him share his blogs on various topics published in the coming days and weeks. Nicholas Leptich, of Wisconsin, is also training to become a licensed mortgage loan originator is enrolled for both the 20 hour pre licensing NMLS training program as well as the boost camp to prepare for the national NMLS SAFE ACT examination. This blog on Why I am I am pursuing a career in mortgage banking was written by Nicholas Leptich and published on Gustan Cho Associates Mortgage & Real Estate Information Resource Center, www.gustancho.com . Nicholas Leptich is a senior at the University of Wisconsin Parkside and works full time for Sprint in Round Lake, Illinois. Nick Leptich is looking forward to starting his career as a mortgage loan originator with The Gustan Cho Team and is planning on getting licensed in Wisconsin and Illinois and eventually being licensed in most of the 50 states. Stay tuned for more blogs by Nicholas Leptich of Gustan Cho Associates Mortgage & Real Estate Information Center and affiliate partner websites. Here is link to the blog post on Why I am pursuing a career in mortgage banking: Nicholas Leptich Explains Why I Am Pursuing A Career In Mortgage Banking

Written By Peter Bieda
Area Marketing & IT Manager
The Gustan Cho Team
Gustan Cho Associates Mortgage & Real Estate Information Center
Credit Fix Advisors
Lending Network Online Community



The best way to get a credit limit increase on your credit card is to make sure that you have all of your credit card balances reduced for at least one month where the credit utilization ratios are below 10%. Make sure
that you have had your credit card seasoned for at least six or more months. Most credit card companies only pull Transunion credit report so make sure that you have the highest possible credit score on your transunion. Contact the credit card company and make sure which credit bureaus that they use. Whatever bureau they use, check your credit scores and the best service you can go to is FICO® Scores & Credit Reports From All 3 Bureaus | myFICO (http://www.MyFico.com) which will also detail what you need to do for maximum optimization. If you are north of 700 credit score, you should be safe. Also read some great articles on *Gustan Cho Associates Mortgage & Real Estate Information Resource Center* (https://gustancho.com/)** *for the latest credit news and information. Also, **Credit Fix Advisors* (http://www.creditfixadvisors.com/)** *offers the best tips and advice on maintaining great credit as well as how to repair your own credit. For those who want to participate on the best credit and mortgage online forum, you can join **Lending Network USA* (http://www.lendingnetwork.org/)** **where the moderators and administrators and members are real estate and mortgage professionals led by Gustan Cho NMLS 873293 of The Gustan Cho Team at Platinum Home Mortgage Corporation.
This answer to the above topic was answered by Scott Gross NMLS 987348
Scott Gross NMLS 987348
Area Production Manager
The Gustan Cho Team at Platinum Home Mortgage Corporation
Below are some useful resources for those who are seeking the latest information and news about credit, lending, and boosting credit scores to qualify for mortgages and other financing. All of the following informational websites are only informational sites and not stores and do not sell any services or products.
Website Gustan Cho Associates - Mortgage Broker Chicago - Gustan Cho Team (http://www.gustancho.com)
Forum Lending Network Community Forum (http://www.lendingnetwork.org)
Credit Fix Advisors http://www.creditfixadvisors.org (http://www.creditfixadvisors.org)
Loan Consultants Chicago Mortgage Agent - Loan Consultation - Loans Consultants (http://www.loanconsultants.org)
Homes Network www.homesnetwork.org (http://www.homesnetwork.org)
Mortgage Place Gustan Cho Associates - Mortgage Broker Chicago - Gustan Cho Team (http://www.mortgageplace.us)
Mortgage Lending Place Home (http://www.mortgagelendingplace.com)
Do Loan Home - Do Loan (http://www.doloan.com)
Mortgage Posts Mortgage Posts - Your Daily FHA, VA, USDA News (http://www.mortgageposts.com)
California Loans California Loans - Mortgage Informational Center (http://www.california-loans.com)
One Solution Real Estate One Solution Real Estate » It's all about Real Estate (http://www.onesolutionrealestate.com)
Hard Money Capital Group Hard Money Capital Group (http://www.hardmoneycapitalgroup.com)
Private Money Capital Group http://www.privatemoneycapitalgroup.com (http://www.privatemoneycapitalgroup.com)



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Advice On How To Increase Your Credit Scores When You Have Recent Collections On Your Credit Report

Credit disputes are not allowed on non-medical collection credit items during the mortgage process if the outstanding unpaid balances total $1,000 or more. Credit disputes are not permitted during the mortgage process on charge off accounts. However, credit disputes are allowed on medical collections and non medical accounts with zero balances or on non medical collection accounts, if the total sum of the non medical account balances are under $1,000 dollars. What happens when a consumer disputes a credit tradeline on their credit report is that the credit bureaus will take that negative credit item off the credit scoring model so the consumer's credit scores will spike up. The derogatory item will remain on the credit bureaus and a statement stating that the account is in dispute will be posted next to the disputed credit item, but that negative item will not be factored in with the credit scores. This is why lenders want the disputes resolved and removed off the credit report before they can proceed with the mortgage process. If the credit bureaus resolves the credit dispute and/or the consumer retracts the credit disputes, the derogatory credit item will be configured into the credit score model and the credit scores will drop. The amount of drop depends on the age and type of the derogatory credit item. For borrowers who cannot quite meet the minimum credit score requirements, they can dispute recent collection accounts that are the following:

1. Medical Collection Accounts

2. Non-Medical Collection Accounts that have zero balances

3. All non-medical collection accounts that have small balances: The total amount of all the sum of non collection account balances needs to be under $1,000.

Here is a blog about how to boost credit scores with recent collections reported on your credit bureau that was written by Gustan Cho NMLS 873293 of Gustan Cho Associates Mortgage & Real Estate Information Resource Center website, https://www.gustancho.com

How To Boost Credit Scores With Recent Collections

Gustan Cho NMLS 873293: Area Manager

The Gustan Cho Team @ Platinum Home Mortgage Corporation

Platinum Home Mortgage Corporation

Website https://www.gustancho.com

Forum https://www.lendingnetwork.org

Credit Fix Information Resource Center https://www.creditfixadvisors.com

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