All Posts Tagged With: "VA"
VA Mortgage Basics
Since the end of World War II the US has had an extensive benefits program in place for those with military service. The benefits include healthcare, help with college tuition and home loans.
The VA mortgage program is the single best form of real estate financing available because qualified individuals can purchase with nothing down and [...]
3Dec2009 | Peter G. Miller | 0 comments | Continued
Mortgage Loan Limits — Conventional, FHA, VA
The mortgage loan limits and policies established in 2008 and 2009 will continue through 2010.
There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits to see how much can be financed with the most-widely originated loans.
If you borrow at or below the conventional [...]
How To Read The New Good Faith Estimate Forms
Starting January 1, 2010 HUD will require lenders to use a new Good Faith Estimate form or GFE. This is important because whether you buy a mansion or a cottage, you want to know how much your mortgage is going to cost — not just the interest rate but all the fees and charges you’ll [...]
2Nov2009 | Peter G. Miller | 1 comment | Continued
2009 Mortgage Loan Limits (Updated)
There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits to see how much can be financed with the most-widely originated loans.
If you borrow at or below the conventional loan limit for non-government mortgages, you would have what is generally known as a [...]
Who Won’t Be Helped Under The Obama Foreclosure Prevention Plan
The Obama Administration has come out with a new plan to both prevent foreclosures and to help those who are now struggling with home payments.
If you read the documents the Administration has posted to date, you can see that the plan offers real benefits to millions of borrowers and provides for federal cash to back-up [...]
Should We Bring Back Ozzie & Harriet Loans?
It was in 2005 that Bill Dallas — then president and CEO of Ownit Mortgage Solutions, at the time on one of the 15 largest subprime mortgage lenders in the country — said “underwriting guidelines developed in the 1950s don’t address the needs of today’s homebuyers and brokers. Loans that met the needs of Ozzie [...]
26Sep2008 | Peter G. Miller | 0 comments | Continued
Can A National Guard Volunteer Get A VA Loan?
According to the DVA, you need to review your call-up orders. If activated under Title 10 you may qualify for a VA loan if you are on an active-duty status for 90 days or the full period called (this could be less than 90 days).
If you were called up under Title 32 you may not [...]
Can VA Status Help An FHA Borrower?
For many years VA-qualified borrowers could obtain FHA financing with a lower downpayment. The way the system worked, FHA borrowers were required to have a down payment equal to 3 percent of the first $25,000, 5 percent of the next $100,000, and 10 percent of everything higher. With a VA certificate, the 3 percent [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Can I use VA financing to buy investment property?
If by “investment property” you mean property where you do not live, the answer is “no.” However, you can buy two, three, and four-unit properties, live in one unit, and rent out the others. See brokers and lenders for details.
Tweet This Post
Technorati Tags: investment, property, VA
24Aug2008 | Peter G. Miller | 0 comments | Continued
What is the VA COW Committee?
It is possible to assume older VA loans, those originated before March 1, 1988, without approval or review by a lender. If it happens that someone assumes such a loan, and the loan goes into default, the original VA borrower is responsible for paying any shortage if the loan is foreclosed.
But, in some [...]
© Copyright 