va loans: The Right Agent When Using A VA Loan
- 06/08/22 09:24 AM
Minneapolis, MN: Congratulations, you've decided you want to buy a home and use one of your best VA benefit, the VA home Loan.
As you begin working with the real estate agent, they shock you by talking about your chances of getting your purchase offer accepted with a VA Loan in today's sellers market is low, and that a VA loan puts you at a competitive disadvantage. They will usually even ask "can you switch to a conventional loan instead?"
If they say this, IMMEDIATELY FIRE THE AGENT!
Unfortunately, few real estate agent out there understands how awesome VA loans are, resulting is a … (0 comments)
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va loans: Popular mortgage programs at a glance.
- 03/30/22 11:11 AM
Minneapolis, MN: Figuring out which mortgage program is best for you can feel very overwhelming. Below we provide a list of some of the most common mortgage loan programs available in today's market.
We suggest rather that trying to figure out which program is best on your own, that you simply complete a full online mortgage application with a local mortgage broker instead.
Once the lender has all your information, they can discuss your exact overall situation, including your wants, needs, and ability. Then zero in like a laser beam on the programs you qualify for, how much house you can afford, what … (1 comments)
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va loans: How much do I need for a down payment when buying a home?
- 06/17/21 08:23 AM
How much do I need for down payment when buying a home is a super common question, especially for first time home buyers.
Unfortunately, there is no quick answer, as it varies based on many factors including loan type, property type, and credit scores. The easiest answer for most people is to not try figuring it out on your own, and to simply connect with a Cambria Mortgage Loan Officer to quickly review your personal situation, to get your personal answer.
Basic down payment options include: Zero down payment for VA loans for our military personal, and for USDA rural housing loans. Standard … (2 comments)
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va loans: Calculating student loans for mortgage debt ratios
- 10/19/20 01:50 PM
A common question people applying for home mortgage loans is how does their deferred student loan effect mortgage qualifying
First understand that while a student loan may be deferred, lender reasoning is that eventually you will have to start making a payment, so we must calculate something into your debt ratio.
How and what we calculate for a payment depends on the type of loan you are applying for.
If the credit report is reflecting the loans are in deferral, then for USDA, FHA, and Fannie Mae conventional loans, the minimum monthly payment is calculated at 1% of the outstanding balance. For example, a $50,000 … (0 comments)
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va loans: Veterans Day 2019
- 11/07/19 02:38 PM
If you are active or retired U.S. Military, Thank You for your service!
Veterans Day 2019 will be observed Monday November 11th. This official holiday is observed to give honor to those persons who served in the United States Armed Forces. Memorial Day on the other hand is celebrated in the spring to honor those who died serving this great country.
Many companies provide discounts and other benefits, including free food or admissions with proof of military service as a small way to show our appreciation.
Also remember that you have some very special VA home loan benefits available to you that make VA loans … (0 comments)
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va loans: VA removes down payment requirement for jumbo VA loans
- 07/10/19 10:00 AM
Minneapolis, MN: A new bill was signed into law last week by President Trump eliminating a long held requirement that VA jumbo mortgages loans needed a small down payment. This was in stark contrast to the very popular current VA loans of under $484,350 in most of the nation, - which our U.S. military personal could get with no down payment.
The Senate unanimously approved the bill earlier this month, and now president Trump signature makes it official.
As of today, VA lenders across the nation, like us here at Cambria Mortgage, have not yet seen the Official VA lender notification with the … (1 comments)
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va loans: The Closing Costs are 3% myth
- 02/07/18 08:14 AM
The closing costs are 3% myth debunked I just heard it again, a Real Estate Agent saying average closing costs to obtain a home mortgage loan are about 3%.
This simply is way too broad a statement about actual closing costs.
As an actual Minnesota mortgage lender for the past 26-Years, the perception that mortgage loan closing cost are about 3% has NEVER been really accurate. I believe this gets spread around primarily because a conventional loan only allows for seller paid closing costs of 3% ( FHA Loan is 6%: VA Loan is 4%, convention is 6% with a large down payment ).
About 1/2 … (1 comments)
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va loans: Reasons why you can buy a home with a very small down payment
- 07/11/17 10:01 AM
Reasons why you can buy a home with a very small down payment The lack of down payment money is by far the biggest reason people do not believe they can buy a home.
A recent survey even indicated a whopping 44% of non-homeowners thought you needed at least 20% down payment, and that simply isn't true for most home buyers. Clearly mortgage companies and real estate agents need to do a better job of educating non-home owners. The reality is very few people need anywhere close to 20% down payment, and most people can buy a home in the areas … (0 comments)
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va loans: Low down payment, no down payment mortgage loans in 2017
- 12/29/16 01:39 PM
Minneapolis, MN: Just 10-years ago, 30-year fixed rates were 6.125%, and the real estate market was hot. With rising interest rates, 2017 may be a bit more challenging for home buyers. But the biggest challenge for most people who wish to buy a home is down payment.
You do not need 20% down payment to buy a home! I repeat, you do not need 20%. This large down payment myth has been around forever, but it simply isn't true for the vast majority of people buying their first primary residence. There are many program that allow for no down payment, or low down payment. Some jumbo loans … (0 comments)
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va loans: CFPB goes after VA Refinance lenders
- 12/23/16 11:58 AM
Minneapolis, MN: The Consumer Financial Protection Bureau (CFPB) has been receiving a large number of complaints about misleading advertising for VA refinance loans.
The Bureau reviewed about 1,800 of these complaints received since record keeping started in 2012, all of them about refinance transactions.
VA loan refinancing has two great option, the most popular one known as a VA Streamline Refinance, or IRRRL Refinance (Interest Rate Reduction Refinance Loan). The streamline refinance, just as the name implies, is easier, requires less documentation, and generally also does not require an appraisal.
Due to the ease of the loan, and the ability for mortgage companies to … (1 comments)
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va loans: Minnesota First Time Home Buyer Programs
- 10/14/16 02:29 AM
FIRST TIME HOME BUYER PROGRAMS in MNLet us help you pick the best mortgage loan from our many options
Our first time home buyer programs are designed to assist those buying a home for the first time. Our loan specialist will walk you through the entire home buying process to insure that you never feel without an experienced helping hand.
Mortgage loan programs like FHA Loans, VA Loans, FHA 203k Loans, USDA Rural Housing, and down payment assistance loans of all kinds are designed to make it a little easier for first time home buyers to achieve the dream of … (0 comments)
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va loans: 5 Low Down Payment Home Loans
- 05/04/16 02:12 AM
5 Low Down Payment Home LoansMinneapolis, Minnesota: Face it, for most people, the biggest obstacle to buying a home is a lack of down payment. Here are 5 low down payment home loan options to help you get into your own home.
Zero Down Payment VA Loans: Available for U.S. Military personal, both current and former is a no down payment loan with no mortgage insurance. By far the most amazing home loan available. Get VA Loan information USDA Rural Development Loans: Available for those wishing to buy in rural areas. This program is no down payment required. Income limits apply. Get … (0 comments)
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va loans: VA Loans for US Military personal
- 01/05/16 09:45 PM
Are US Military? Active or retired?Finance your home with a VA home LoanAdvantages for Military Homebuyers
The VA Loan has many advantages that make it one of the most appealing paths to homeownership — and this great benefit is reserved exclusively to those who bravely served our country and select military spouses.
When combined, the benefits of the VA mortgage allow service members and Veterans to take advantage of substantial cost savings under qualification requirements designed specifically for members of the military and their unique needs.
No Down Payment
The VA Home Mortgage is one of the only home loans available today with … (1 comments)
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va loans: Student Loans and Getting a Mortgage Loan
- 01/16/15 12:25 AM
So you want to buy a home, and have student loan debt? A frequent news item is the level of student loan debt outstanding, and the press claiming that student loan debt is preventing young adults from purchasing homes.
Clearly debt can be a hinderance to many things, including buying a home. Yet everyday, we approve and close plenty of home loans for younger people with student loan debt.
My advice? DON'T ASSUME. Let a local mortgage broker in your area look at a full application to zero in on what programs you might qualify for, how much house you can … (2 comments)
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va loans: Why get a VA Loan?
- 12/26/14 11:28 PM
Why get a VA Loan? It's simple ... Lower Interest Rates - Lower Payments - ZERO Down Payment. The country appreciates your service. This is one way we pay you back. Take advantage of your VA benefits - we can help.
BUYING A HOME WITH A VA HOME LOAN VA Home Loans are Zero Down Payment Loans A VA Loan allows our military personal to buy a home with NO DOWN payment and finance 100% of the home's purchase price up to $417,000 in most parts of the country. Now more than ever, banks are requiring larger down payments for … (0 comments)
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va loans: Share of homes bought by first time homebuyer up
- 08/21/14 03:38 AM
According to a recent survey, first time homebuyers share of real estate purchases accounted for 37.2% of all homes bought in July 2014, based on a 3 month average.
This is the highest level since January 2011, and up from 36.2% of the market in July 2013.
Homes bought with cash declined from a 12-month high of 30.5% in February 2014, to just 26.70% in July 2014. Most homes bought with cash are from investors looking to repair and flip the home, and just a small percentage are true homeowners buying with cash.
Popular first time home buyer loan programs … (1 comments)
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va loans: Tips on getting a VA Loan
- 04/05/14 12:05 AM
Tips for getting a VA Loan If you are an active or military veteran, the VA home loan is one of the most amazing benefits provided to you for your service to our country. The two biggest benefits of a VA mortgage loan are simple...
No down payment required No monthly mortgage insurance, which can save you a HUGE amount of money when buying a home. Basic VA Loan Eligibility Requirements for a VA loan The first step is to understand if you qualify for VA Loan benefits. The vast majority of people with regular service in the Army, Navy, Air … (1 comments)
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va loans: 4 tips for First Time Home Buyers
- 03/20/14 01:51 AM
4 tips for First Time Home Buyers in MN Minneapolis, MN: First Time Home Buyers don't know what they don't know... so they end up anxiously asking all of their family, friends, and the Realtor for financial advice. Because none of these people are Mortgage Loan Officers, they end up just hearing horror stories, and getting incorrect information, adding to their anxiety. Start Here:
Take a Peak at your Credit Report as early as possible. Your Credit is more important than having enough cash, or getting the best mortgage rate. Your credit rating, or LACK of credit rating will be the … (2 comments)
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va loans: VA Loans in MN and WI - No down payment required
- 08/09/13 01:55 AM
Take Advantage of your VA Benefits! VA Home Loans for Minnesota and Wisconsin military veterans Why get a VA Loan? It's simple ... Lower Rates. Lower Payments. $0 Down Payment. Thousands of people are using their VA Loan benefit every single month. Let us help you purchase a MN or WI home with ZERO DOWN, or lower your existing VA home loan with a refinance to today's low interest rates.
BUYING A HOME WITH A VA HOME LOANS Purchase with Zero Down A VA Loan still allows a Vet buy a home with Zero DOWN and finance 100% of the home's … (0 comments)
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va loans: VA Home Loans In MN and WI
- 02/20/13 09:57 PM
Minneapolis, MN: VA Home Loans In MN and WI are probably the coolest mortgage loan lenders offer. It is available both while serving our country and after they are discharged.
Upon a veterans return, hey usually are looking to re-establish themselves the the communities that they will be returning to. This means that many of them will be looking to purchase a home that they can settle in and raise their families. A VA Mortgage can assist our Veterans in making that transition.
VA Mortgages provide our Veterans with two major advantages that other Mortgage programs do not have.
VA … (0 comments)
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Minneapolis, MN: Congratulations, you've decided you want to buy a home and use one of your best VA benefit, the VA home Loan. 
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