Prior Credit Issues. VA provides very flexible guidelines related to prior bankruptcy, short sale, or foreclosure, even when prior housing events were VA loans.
"Need Holiday Cash? Skip two mortgage payments on VA loans when you refinance." Worried that misleading ads like the one above were luring veterans deeper into debt, Veterans Affairs officials decided.
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. While the VA does not lend money for VA loans, it backs loans made by private lenders (banks, savings and loans, or mortgage companies) to veterans, active military personnel, and.
Pedigo noted that under prior rules, lenders had no restrictions on the number of. A class-action suit filed in Florida appears to be the first to take the VA loan-pricing issue to federal court. A.
From the standpoint of the rehabber, selling FHA and VA are pretty equivalent these days. Both will require some hoops to jump through — additional documentation, additional substantiation of value, etc. — but either can be accomplished pretty consistently if you have a GREAT mortgage broker handling the transaction who understands the rules and can communicate directly with the underwriter.
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In a previous VAntage Point post, The plan collector blogged about how a Veteran could build a new home. They mention that construction to permanent loans can be "difficult to find." Two years later, more and more lenders are now offering this one-time close product. However, before you run out.
Basically, a VA cash-out refinance loan allows you to get a new mortgage on your house and take the equity (the difference between what your house is worth and how much you owe on it) as cash.
Here we will discuss the two condo mortgage rules you need to know so you can feel secure when. Loans are available in all 50 states. The FHA loans and VA loans maintain lists of approved.
VA Funding Fee. If you are getting a VA loan for the first time with no down payment, you need to pay a VA funding fee equal to 2.15% of the loan amount. If you do put down 10% of the loan, this fee is lowered to 1.25%. The exact percentage will vary based on your down payment and the type of veteran you are.