VA Joint Loans

VA LOANS
Veterans Administration Joint Loans

An eligible veteran is a person who served on active duty in the Army, Navy, Air Force, Marines, or Coast Guard, cadets at service academies, and Public Health Service Officers, and who, (except for a service member on active duty) was discharged or released from active duty under conditions other than dishonorable; or Members of the Reserves and National Guard are eligible upon completion of 6 years of service; or surviving spouses of certain Veterans who are in receipt of Dependency Indemnity Compensation (DIC) from VA. If under age 57 cannot be remarried. The Certificate of Eligibility will indicate the amount of available basic entitlement.

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All VA loans require a 25% guaranty/equity to meet secondary marketing requirements. See table on the next page for maximum potential guaranty assuming the veteran has full entitlement. In addition, the VA does not impose maximum statutory loan limits; however, VA does publish county loans limits to determine how much the VA will guaranty on a specific loan. Our maximum VA loan amount is $1,200,000 and all loans require 25% guaranty/equity.
 • Secondary Market Requirements: o The amount of cash down payment plus the amount of available VA guaranty must equal at least 25% of (i) the purchase price of the property or (ii) the reasonable value of the property, whichever is less. The funding fee charged by VA must not be included in this calculation.
 ▪ The cash down payment must also include the amount, if any, by which the purchase price exceeds the reasonable value of the property.
▪ The cash down payment may not be derived from a second mortgage on the property. • Prior Approval: Any joint loan (see below) for which the veteran will hold title to the property and any person other than the veteran’s spouse must be submitted for prior approval. Any loan for which the veteran and the veteran’s spouse will hold title to the property, whether or not the spouse also uses entitlement, may be closed automatically by a lender with automatic authority. Any prior approval loan requires a manual underwrite.

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VA Joint Loans  must be prior approved by the VA.
 Guaranty is limited to that portion of the loan allocable to the veteran’s interest in the property. VA considers a Veteran’s spouse as the Veteran unless the spouse is also using entitlement on the loan. Joint Loans require special handling by VA for determining the amount of Guaranty on the loan and the lender for determining secondary market (GNMA) requirements. These loans usually do not have sufficient entitlement/guaranty to meet secondary market requirements and, if they do, must be sent to VA for Prior Approval.
“Joint loan” generally refers to a loan for which: o a veteran and another person(s) are liable, and o the veteran and the other obligor(s) own the security. o the veteran and another person to be included on title but not an obligor on the loan. A joint loan is a loan made to: o the veteran and one or more nonveterans (not spouse), o the veteran and one or more veterans (not spouse) who will not be using their entitlement, o the veteran and the veteran’s spouse who is also a veteran, and both entitlements will be used, or o the veteran and one or more other veterans (not spouse), all of who will use their entitlement.
A loan involving a veteran and his or her spouse will not be treated as a “joint loan” if the spouse:  is not a veteran, or o is a veteran who will not be using his or her entitlement on the loan.

Save Money: Refinance

The sky is falling?

No this is an opportunity to save some money

News, well negative news, makes mortgage rates go down. There’s been a great deal of yelling about the trade sanctions with China. I am personally glad we are finally facing off with a bully who steals all our intellectual property. I’ve had books pirated, and even rose patents. On this issue both Republicans and Democrats seem together. I’m not running out to buy a bunch of electronics or steel or a car or any other items that come in metal containers from China. Other news also stirred worry in the bond market. Brexit seems unsolvable. Europe struggles. Don’t bring up war with Iran in my house, we will also start yelling.

What does all this bad economic news mean when you thought we were on the happy train to higher wages and free medical insurance?

The Fed is not going to raise interest rates this year. My crystal ball says  the Fed is going to swing wild the short way and price in a seventy percent of a 32-basis point cut by October 2019. I love a Halloween Refinance Boom. We’ve had several Halloween Refi-manias in my thirty year career. Is a 32- basis point cut down too much? I don’t believe the American economy is doing that strong. Don’t you know three people who have to work two jobs to afford their house? I know fifteen or more.  My magic eight ball says:  save money!

Mortgage interest rates are at a twelve month low. IF you bought or refinanced in the past year I can save you money on your payment. Treasuries at 2.15 and the Ten year bond is 2.35, a fifteen month low.

More roller coaster volatility is ahead. Expect rates to swing up on a Friday when everyone is spooky or running off to the Hamptons.

Get your loan application in and approved and update as needed. I’m here to help save you money.

C G Caroline Gerardo Barbeau

NMLS 324982

(949)  784- 9699

This is not a commitment to lend Equal opportunity lender. Why would anyone not be an equal opportunity lender that makes no sense to me

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Best Nurseries and Garden Supply Stores In Orange County California

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1. The Plant Depot
32413 San Juan Creek Road
San Juan Capistrano, CA
https://theplantdepot.com/


The number one Garden Supply, Gardener's Gift Store, and nursery store.
Family owned and loved. The staff will help you find what you dream about. Plant and orchard, build a pond, arrange a succulent garden, and English garden, just ask.
No question is considered silly, they are kind and caring. Prices are reasonable and all plant stock, water lilies, pots, and gifts are guaranteed to dazzle. They have it all: gifts for Mom for Mother's Day, door mats, bird houses, fertilizers, pots, annuals, a big selection of seeds, potted arrangements for fancy presents, bulbs, pond plants, gloves, pretty straw hats, tools, and free good advice.

The number one place to go for gardeners in Orange County

2. O C Succulents
3350 1/2 Warner Ave., Irvine, CA 92606
https://ocsucculents.com/

Wholesale prices for cactus, succulents, indoor plants, and everything drought tolerant. They have a free re-potting bench where you may decorate, add colored pebbles and custom a gift. Prices are the lowest around. They had a huge shade covered potting house- not a green house but a space with giant fans to keep the plants happy and cool in the summer.
The number two place for gardeners in OC. They don't carry annuals, vegetables and flowers.

3. Roger's Gardens

2301 San Joaquin Hills Rd.

Corona Del Mar, California

Ph. 949.640.5800

https://www.rogersgardens.com

Coming in at number three is Corona Del Mar's most luxurious garden center. Roger's offers just about everything: classes, outdoor furniture, deep variety of plants, containers,nice staff, full service do it all garden center; but, with the highest prices. They have a lovely restaurant. 

4. The Tree Of Life
Seven miles east of I-5 on Ortega Highway
33201 Ortega Highway, San Juan Capistrano, CA 92675

Phone: 949.728.0685
https://californianativeplants.com/

Number four because they grow 99% of what they sell right on the property. Staff knows everything about native plants. IF you want to buy local and avoid green house gas of trucking flats of plants to stores drive out on Ortega Highway and enjoy a stroll around California's past before it is gone. They offer a few classes. The Spanish architecture adds to the charm of this great nursery and store. They offer advice on planting, watering and care. 

5. DM Color Express Wholesale
31461 Avenida De La Vista, 
San Juan Capistrano, CA 92675
http://dmcolorexpress.net/

This is wholesale only so bring cash and mum's the word. Act like you know what you are doing (call me if you need advice if you act dumb they won't sell to you). No prices are labelled. They load your truck if you go inside the trailers and ask. OR go pick up the flats you want and load them on top of the plastic or old sheet you brought with you. Prices are CHEAP. Cash only of you don't have a resale card. If you have a resale card and license they will set up an account and take a credit card. Plant supply changes with the whim, weather, and seasons. Don't bring children or a dog this is not handicapped set up and not safe for children to wander. Don't bring your helper pet or just buy one plant, they will make you into fertilizer.

6. Seaside Growers Nursery
33773 Camino Capistrano
Dana Point California
http://www.seasidegrowers.com/

A little hard to find. Off Camino Cap there is an old historic adobe house on the corner, one of the last few in all the county. The road entrance is right next to the newer Residence Inn. Follow the dirt road, cross rusty railroad tracks and there you find a shady grove of nursery plants. They grow about half of what they sell. They will order anything that makes you happy. Smile, they are kind and know everything about palms and cycads. No picture seed packs, no fountains, no rose cultivars here.

7. The Pottery Shed By Carlisle

401 W. Chapman Ave

Orange, CA 92866

714.468.5154

http://www.tpshomeandgarden.com/

Jack has built a unique garden supply store. There are rusty antiques to add charm to your home. Not the largest selection of plants but wonderful for ideas. Some cool rusty gates, pottery made to look like the 1950's and sculptural not antiques but kind of...


8. Moon Valley Nursery
6500 Alton Parkway
Irvine California right along the freeway you see the giraffe and metal dinosaur every day

https://www.moonvalleynurseries.com/

They have a number of locations in California, also in Arizona and Nevada with their own wholesale grow locations. The place to buy mature trees at good prices. They create some good fertilizer mixes, which I have not tried as I don't use chemicals, but others swear by them. 

Other mentions:

9. Green Thumb Nursery
23782 Bridger Rd, 
Lake Forest, CA 92630
https://www.greenthumb.com/
Sales staff is surly in Lake Forest This is a chain, many locations 

10. Armstrong
lots of locations

11. OC Farm Supply 
worthy of footnote if you need feed and some wilted tomatoes priced cheap.

Indoor Plants