Bruce Reichstein's (brucereichstein) Blog

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

ARCHIVED BLOG POSTS

2011 

When you buy a home with a VA insured loan, you may or may not be thinking about refinancing that loan at some point down the line. Some borrowers walk into a certain type of home loan such as a variable rate mortgage with a refinance strategy firmly in mind at purchase time. Others get into a fi...
09/30/2011
How many payments can a VA borrower miss before his or her VA mortgage becomes delinquent, goes into default or foreclosure? Many borrowers want to know the answers to these types of questions, but some are most concerned with what happens the first time the loan is not paid on time. When is the ...
09/28/2011
Did you know the Department of Veterans Affairs actively encourages borrowers with conventional or sub-prime loans to get in touch for advice on  their mortgages? According to the VA official site, “For a veteran or service member who may have obtained a conventional or sub-prime loan, VA has a n...
09/28/2011
1 Comments
When a VA borrower has a VA insured loan that goes into foreclosure (or otherwise incurs a debt to the Department of Veterans Affairs), there is a process used by the government to resolve that debt. Some of the process is connected to future VA loan eligibility–the borrower who owes money to the...
09/28/2011
The Department of Veterans Affairs has a set of standards for all properties to be purchased with a VA-insured home loan. The VA will not approve loans for buildings or property that doesn’t meet its Minimum Property Requirements (MPRs). For example, a home may not be approved for a VA loan if it...
09/27/2011
When you Google the phrase “VA Loan Eligibility” you’ll get a set of results all directing potential VA borrowers to apply for a VA Certificate of Eligibility for a VA mortgage. This is the first step towards a VA home loan. According to the VA official site, “You can apply for a Certificate of E...
09/27/2011
One of the most attractive features of a VA insured mortgage is the no-money down option. Borrowers who choose a zero down payment may pay more in VA loan funding fees, but the money saved by not making a down payment can help a new borrower stay on budget and keep initial home buying expenses lo...
09/26/2011
There are many things a lender examines on a VA loan application to determine whether a borrower is a good credit risk. One factor the lender must consider is the applicant’s debt-to-income ratio. This ratio is key in the lender’s mind because it illustrates whether or not the addition of a VA in...
09/23/2011
Several recent questions from readers have raised the issue of what VA loans can and cannot be used for: on several occasions we’ve gotten queries about whether it’s possible to use a VA home loan as a debt consolidation tool. Is it possible to get a VA home loan that would put all the borrower’s...
09/22/2011
Before a qualified borrower can apply for a VA insured home loan, the applicant must have a Certificate of Eligibility (COE) issued by the Department of Veterans Affairs. This process used to take much more time when it was only available via U.S. mail, but online options have sped up the process...
09/22/2011
Rainmaker
475,098

Bruce Reichstein

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