Recent news by the Veterans Administration announced the reduction in VA Mortgage Funding Fees in The Woodlands Texas and in everywhere VA Mortgages are available.

 

Many people talk about the VA Mortgage funding fee otherwise known VA home Mortgage Fees Reducedas One time up front mortgage insurance has been reduced but few give credit where credit is due.  The simple fact is that VA Mortgages have the lowest default rates of any home mortgage.  This is in spite of the fact that VA Mortgages in the Woodlands Texas and elsewhere require no down payment and the Veteran is disallowed to pay many fees that a buyer has to pay on other home purchases.  There are cases where veterans are discriminated as I've pointed out previously.

So the Veterans Administration is passing these savings to every Veteran qualifying for a mortgage.  Starting November 18, 2011 these VA mortgage funding fee will be slashed in some cases by 60%.  For the details and most up to date information check out the VA mortgage funding fee chart.

With all of the negative news about the mortgage industry this points to that many losses and problems in the industry are not a down payment or "skin in the game issue" but an underwriting issue.

I've been doing home loans long enough to know that VA home loans have always had VA home mortgage more affordable in the woodlands texassome pretty stiff underwriting requirements and most loan officers just a few years ago flat refused to do them.  In fact I was at a brokerage during the "old days" of subprime and I was the only Loan Officer doing VA Home mortgages and people at the company though I was crazy.  Well it's enough to say that I'm still doing VA mortgages and other mortgages and the people that thought I was nuts have mostly quit the business.

In closing, I want to say what I say to every Vet.  "Thank you for your service" and it's great to see that the VA 100% mortgage won't be going anywhere soon.

 

Henry J Daniels, Senior Mortgage Banker & Certified Mortgage Coach for Gold Star Financial he specializes in educating clients on the new realities of today's mortgage lending market and providing solutions to all of your home financing needs.  He was the first Certified Mortgage Coach in the State of Texas and  If you need FHA, VA, USDA, Conventional, Jumbo, Construction or FHA 203k mortgage in Montgomery County, Harris County, Fort Bend County, Brazoria County, The Woodlands Tx, Conroe, Lake Conroe, Livingston, Lake Livingston, Houston, Katy, Pearland,  Humble, Kingwood, Galveston, Tomball or anywhere in Texas he can help you understand all of the options available and provide you with true financing choices.  You may confidentially contact him through these links or at (936) 228-1944.

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