ARCHIVED BLOG POSTS
2012
A reader asks, “I want to buy a home in Mesa, Maricopa County, Arizona, the zip is 85207. How would I find out the maximum amount of mortgage I could borrow? Is this a jumbo loan area? Are the fees any higher for jumbo loans? Are the fees tax deductible? Thank you for any information.” There’s a ...
04/29/2012
A reader asks, “My husband retired in 2006 after serving 22 years in the US Army…we have found a home in Augusta that we would like to make ours.” “We are hoping that my husband’s (two hour) job commute will not negate this sale…While working away from Augusta, my husband stays in a small house o...
04/26/2012
VA Interest Rate Reduction Refinancing Loans are designed to help lower interest rates, monthly payments, or both. The Department of Veterans Affairs rules for these loans states: “An IRRRL is a VA-guaranteed loan made to refinance an existing VA-guaranteed loan, generally at a lower interest rat...
04/25/2012
One type of frequently asked question about the VA appraisal process involves what’s considered acceptable to VA appraisers when it comes to older homes. For example, does the VA allow homes with older electrical systems to be approved for VA guaranteed mortgages? How does the VA appraiser determ...
04/25/2012
In response to a blog post about VA loan seasoning periods, a reader asks, “So how do we know if we will have to wait two or three years?” This question references a minimum two-year seasoning period before a borrower can apply for a new VA home loan after a bankruptcy filing, short sale, or fore...
04/24/2012
A reader asks, “My husband is 100% service connected disabled. We are wanting to inquire about getting a VA home loan…problem being we both have horrible credit. Would we be eligible, or not?” Technically speaking, a VA loan applicant is eligible to apply for a VA mortgage when he or she has met ...
04/23/2012
A reader asks, “I have pre-approval for a house, valued at 59,900. I need help with down payment. Can I get help that is not a loan?” This reader may have heard about down payment assistance programs offered by charitable organizations to qualified borrowers applying for FHA home loans, and assu...
04/22/2012
A reader asks, “I have pre-approval for a house, valued at 59,900. I need help with down payment. Can I get help that is not a loan?” This reader may have heard about down payment assistance programs offered by charitable organizations to qualified borrowers applying for FHA home loans, and as...
04/22/2012
3
Comments
One frequently asked question about VA home loans involves whether a spouse’s income can be counted on the VA loan application for the purposes of calculating the debt-to-income ratio. It is easy to assume that a VA loan application with spouse income included would be stronger than without it; t...
04/19/2012
The VA loan benefit includes several options for disabled veterans with injuries or handicaps recognized by the Department of Veterans Affairs. If you receive, or are eligible to receive VA compensation for these disabilities, you may also be entitled to VA loan benefits above and beyond those ty...
04/18/2012
Rainmaker
475,198
475,198
Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide