Bruce Reichstein's (brucereichstein) Blog

Follow me
By
Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2011 

1 Comments
If a borrower gets into trouble with his or her VA home loan, there are a number of foreclosure avoidance options available. The VA and personal finance experts all agree that it’s best to act as soon as possible when having trouble with a home loan–the longer you wait to explore your options, th...
07/29/2011
Applying for a VA home loan can be a bit more complex than a conventional loan, but the perks (including the no money down option) can definitely be worth the additional effort. One of the complexities of a VA loan application has to do with how the loans are approved. With a conventional loan, t...
07/28/2011
VA mortgages are similar to FHA loans in one important area-the borrower is required to certify that he or she will use the home purchased with the VA-insured loan as the primary residence. VA mortgage loan requirements state that in normal circumstances the borrower must take possession of the p...
07/28/2011
In October of 2008, the President signed the Veterans’ Benefits Improvement Act into law. The act provided a variety of changes in benefits for military veterans, including the ability to apply for VA refinancing from conventional home loans into VA mortgages. According to a VA press release, the...
07/27/2011
In several recent posts, we’ve discussed the VA appraisal process and what it means to have a home reviewed by a VA assigned fee appraiser. The appraisal is designed to establish a property’s fair market value and make sure the home lives up to VA minimum property requirements. The appraiser look...
07/26/2011
The Department of Veterans Affairs has a variety of rules that govern the buying process when it comes to purchasing a home with a VA-insured loan. The property must be appraised by a VA assigned fee appraiser, it must live up to certain standards, and the borrower must qualify for the loan. VA l...
07/26/2011
Everyone who applies for a VA guaranteed home loan hears three things repeated again and again; it’s best to prepare for at least a year before committing to a real estate loan, the appraisal process is one of the most crucial steps in getting loan approval, and the buyer should never rely on tha...
07/25/2011
In a previous blog post we discussed the VA funding fee for new purchase home loans. The Department of Veterans Affairs uses the VA loan funding fee to help reduce the burden on taxpayers and to partially fund the VA loan program. Funding fees vary depending on factors including whether the buyer...
07/22/2011
One of the ways the Department of Veterans Affairs offsets the cost of the VA loan program is through something called the VA loan funding fee. This is a percentage of the loan value paid by the borrower as part of the cost of the VA loan. The funding fee is has a set of variables which can affec...
07/21/2011
One of the more frequently asked questions about VA home loan applications is whether a spouse must submit income information and have a credit report run if that spouse is not using employment and/or income data to help the applicant qualify for a VA mortgage. VA rules say that any applicant or ...
07/20/2011
Rainmaker
475,098

Bruce Reichstein

FHA / VA One-Time Close Loans - Nationwide
smartphone800-518-0099
local_phone800-518-0099
Contact The Author