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quick tip: First Time Home Buyer Overview and Quick Tips - 09/10/08 02:01 AM
 

 
There are some great benefits in being a First Time Home buyer but what exactly defines a First Time Home Buyer and what are the benefits you may ask?
A First Time Home Buyer is considered an applicant who has not have held an ownership interest in a principal residence within the past three years.
 
Benefits of being a First Time Home Buyer:
On FHA Loans the MIP Cap of 2.25% can be lowered to 2.0% if the client is a First Time Home Buyer Eligible to qualify for State Specific Finance Companies like VHDA for Virginia … (6 comments)

quick tip: VA Mortgage Quick Tip: BAH and BAS Income - 09/05/08 11:34 PM

 
Military Mortgage Progam - VA Loan Quick Tip
When calculating income used to qualify for a VA Mortgage, make sure you are working with a Mortgage Expert that can analyze your income correctly.
Many mortgage professionals fail to calculate the correct income on LES Statements.
A LES statement is a Leave and Earnings statement.  This is the best summary of all income.
The 3 main entitlements on the LES are Base Pay, BAS and BAH.
Your Base Pay should NOT BE THE ONLY income to qualify for a house. If just your base pay is used you could lose … (13 comments)

 

Justin Williams - Loan Officer

Virginia Beach, VA

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