Business Details
About
Mortgage Lender
Bernard Guste - Mortgage Loan Originator, NMLS #79676 provides traditional loans, FHA loans, conventional loans, VA loans, and USDA loans to the New Orleans, LA area!
Location
Bernard Guste - Mortgage Loan Originator, NMLS #79676
201 St Charles Ave, New Orleans, LA
70170, United States
Hours
Reviews
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- DODylan O'DonnellNov 10, 20255.0⭐️⭐️⭐️⭐️⭐️ Working with **Bernard Guste** was an absolute pleasure! He guided us through the entire process of purchasing our **dream home in the Bayou St. John area of New Orleans** with exceptional care and expertise. Bernard has the perfect balance of **professionalism and personal touch** — always responsive, knowledgeable, and genuinely invested in helping us find the right fit. He made what could have been a stressful process feel smooth and even enjoyable. We couldn’t be happier with the outcome and highly recommend Bernard to anyone looking for a mortgage professional who truly goes above and beyond!
- FFFreeWorldEstateInvestors (F.W.E.I)Oct 28, 20255.0Bernard was amazing to work with! He explained everything clearly and kept me updated every step of the way. Couldn’t have asked for a better experience.
Frequently Asked Questions About Bernard Guste - Mortgage Loan Originator, NMLS #79676
How do I compare fee sheets from multiple lenders?
When comparing lender fee sheets, focus on fees set by the lender, such as credit report, origination, underwriting, processing, discount points, admin, LLC review, and appraisal fees. These are typically found in sections A and B of the loan estimate. To simplify comparison, obtain your first rate quote. If you're satisfied with the payment at your target rate, ask other lenders to quote the same rate, allowing for easy comparison of total lender fees for that option. Remember that title fees are often your choice, and taxes and insurance are not determined by the lender.
What is a flex term loan?
Flex term loans offer fixed-rate financing for non-traditional loan durations. While most lenders typically offer 30, 20, 15, and 10-year terms, some lenders provide options for any increment you prefer. For instance, if you have 17 years remaining on a 20-year commercial loan for a residential investment property, a flex term loan allows you to refinance with a customized 17-year term. This approach enables a more precise match to your existing loan term, avoiding the need to restart with a new 20-year term or switch to a shorter 15-year fixed rate.
Can I assume someone else's VA loan?
VA loans are indeed assumable. This means a qualified buyer can take over the seller's existing VA mortgage, including its current interest rate, remaining balance, and terms. This feature can be particularly advantageous in a high-interest rate environment, potentially offering significant savings to the buyer.
What Is a mortgage recast?
A mortgage recast, also known as reamortization, is a method to reduce monthly mortgage payments without refinancing. The process involves making a substantial lump-sum payment towards the loan's principal, after which the lender recalculates the monthly payments based on the new, lower balance. The interest rate and loan term remain unchanged. Benefits include lower monthly payments, reduced interest over the loan's life, and no need for a credit check or appraisal. However, it's important to note that only conventional loans typically qualify, and most lenders require a minimum lump sum payment.
When should I refinance? How to decide based on a simple break-even analysis?
Determining when to refinance involves a break-even analysis, which compares the costs of refinancing against the potential savings. To calculate the break-even point, divide the total refinancing costs (including closing costs and fees) by the monthly savings from the lower interest rate or shorter loan term. The result, expressed in months, indicates how long it will take for the savings to offset the refinancing costs. This analysis helps determine if refinancing is financially beneficial in your specific situation.
Should I do a 30 year fixed or a 15 year fixed? Which is right for me?
The choice between a 30-year and 15-year fixed mortgage depends on your financial goals, income stability, and long-term plans. A 30-year mortgage offers lower monthly payments and more flexibility, but comes with a higher interest rate and more interest paid over time. A 15-year mortgage typically has a lower interest rate and builds equity faster, but requires higher monthly payments. Consider your income stability, how long you plan to stay in the home, and other financial goals when making this decision. Ultimately, the right choice aligns with your overall financial strategy and comfort level with monthly payments.
How does a reverse mortgage work?
A reverse mortgage is a financial product designed for homeowners aged 62 or older, allowing them to convert a portion of their home equity into cash without selling their home or making monthly mortgage payments. The loan can be received as a lump sum, monthly payments, a line of credit, or a combination thereof. Repayment is due when the homeowner sells the home, moves out permanently, or passes away. At that point, the homeowner or their heirs can either repay the loan or sell the home to settle the debt. This type of mortgage uses the home as collateral, with the lender paying the homeowner instead of the traditional arrangement.
What types of loans does Bernard Guste - Mortgage Loan Originator offer?
Bernard Guste offers traditional loans, FHA loans, conventional loans, VA loans, USDA loans, jumbo loans, investor and commercial loans, self-employed loans, down payment assistance, specialty loans, second mortgage options, and foreign national mortgage options.
How can I contact Bernard Guste for mortgage services?
You can contact Bernard Guste by phone at +1 504-215-7166 or +1 504-214-8402, or by email at bguste@nexamortgage.com.
What are the business hours for Bernard Guste - Mortgage Loan Originator?
The office is open Monday through Friday from 9:00 AM to 4:00 PM and is closed on Saturdays and Sundays.
Where is Bernard Guste - Mortgage Loan Originator located?
The office is located at 201 St Charles Ave, Ste 2401, New Orleans, LA 70170, USA.
What should I know about comparing fee sheets from multiple lenders?
Focus on lender-set fees such as credit report, origination, underwriting, and appraisal fees found in sections A and B of loan estimates. Obtain rate quotes for comparison at the same rate to easily compare total lender fees. Title fees, taxes, and insurance are usually separate from lender fees.
Can I assume another person's VA loan through Bernard Guste?
Yes, VA loans are assumable by a qualified buyer who can take over the existing VA mortgage with its current rate, balance, and terms, which may provide savings in high-interest environments.
Does Bernard Guste offer assistance for self-employed borrowers?
Yes, loans for self-employed borrowers are among the services offered, including self-employed loans.
What nearby points of interest can I visit near Bernard Guste's office at 201 St Charles Ave?
Nearby places include Puja Thapa (a concert venue and mental health counseling), That Other Tour (offering walking tours), and The Insurance Help Desk, which could be convenient for clients needing insurance services near mortgage consultations.
Are there convenient travel or transportation services near the mortgage office?
Yes, nearby travel-related services include Lagniappe Chauffeured Services and T&A Private Transportation, both providing limo and shuttle services that can assist clients traveling to or from the office.
Can I find printing or shipping services near Bernard Guste's office?
The UPS Store 4539 is located nearby and offers packing supplies, printing services, and food delivery, which may be useful for clients needing document printing or shipping during their visit.