Showing posts with label loan. Show all posts
Showing posts with label loan. Show all posts

7/23/2019

Latest VA Funding Fee Rules


  • Certificate of Eligibility (This can be ordered by the Lender quicker)
  • Form 28-1880 (Request for COE)
  • Form DD-214
  • Form 28-8937 (For service Connected Disability Benefits only)
The funding fee of 2.15 percent must be paid to VA by all but certain exempt veterans. A down payment of 5 percent or more will reduce the fee to 1.5 percent and a 10 percent down payment will reduce it to 1.25 percent. A funding fee of 2.40 percent must be paid by all eligible Reserve/National Guard individuals.

The Veterans Administration provides one of the most amazing products for active and retired military which is the VA Home Loan. This product can be used to purchase or refinance a house. Spouses (widows) of Vets
can also use the loan if they have not remarried.

Don't let the Seller or Agents frown on this way to buy a home.
For some reason agents recall some fictional deal of their past where
the VA inspection was pretty tough on the condition of the property. The real estate needs to meet health and safety codes of the subject address - whether it is county or city codes. The VA protects it's own in that they don't want them living in a house that the roof leaks and is falling apart.
peppers from my garden

air plan on drift wood as art

7/02/2019

Easiest Way to Get a VA loan

short video of a hummingbird who I released from tomato cage



The Easiest Way to Get a VA Loan






  • Most recent 1 full month of pay stubs
  • Most recent 2 years of W2’s (Tax returns if self employed)
  • Cancelled Earnest Money Check to be credited at close
  • Source of funds for Earnest Money deposit in order to be credited at closing - bank statement and online bank printout with URL at bottom showing the funds cleared
  • bank statements all pages last month
  • Contact information for Home Owner’s Insurance (if you have USAA for auto I suggest you bundle with your car insurance)
  • Government Issued ID
other items which may be asked for if it applies to your situation:
Divorce decree
Bankruptcy Docket summary
Letters about financial situations

The process is paperwork and time consuming. Make pdf copies of your information, label them, and keep in a desktop folder. These items can also be brought in for a personal meeting or mailed or over-nighted to my team at 949 South Coast Drive #240 Costa Mesa CA 92626. Don't send your only copy.
Talk about your goals and the best time, and method of communication to reach you. Are you a texter? phone calls early in the morning? Please let us know how best to reach you. 
With zero down payment options the VA loan is a great way to purchase a home, and perhaps the best benefit the US government gives you.