va loans: Reservist VA Home Loan Benefits
- 01/07/16 01:57 AM
I don’t normally write about “real life” situations, but we just had a VERY unusual Loan situation that invovled a Veteran, and I’d like to talk about it. I learned something from the experience, and if you or a family member feel you might be eligible for Reservist VA Home Loan Benefits, you might learn something too. The Veteran contacted us, and provided us with a Certificate of Eligibility (COE) dated from 2014 when they had initially applied for a loan. They didn’t get the winning bid on the house, and waited a year to buy a new one. The Veteran also … (0 comments)
va loans: Bankruptcy and VA Home Loans
- 10/29/14 04:45 AM
We are talking to folks every week who lost a job in the last several years, lost medical insurance – or had some other tragedy that made it necessary for them to take steps they never thought they would have to. The reality is that in today’s economic conditions, unfortunately, bankruptcy has been the only way a family could get a fresh start. As a Veteran, considering a home purchase in North Carolina, you need to know a few things about Bankruptcy and VA Home Loans … it can affect your ability to buy a home. So, can you get a VA Guaranteed … (0 comments)
va loans: How Underwriters Review Military Pay, Allotments on a VA Loan
- 06/14/13 12:36 AM
If you are active military, I will bet you a nickle there are very few loan officers who know how to read your LES (leave and earnings statement / also referred to in the Civilian world as pay stubs). VA borrowers have unique Military Pay that shows as BAS, CMA, BAH Jump, Flight, Combat or Career Sea Pay that we just don’t see on regular pay stubs… which is why we get questions about how Underwriters review Military Pay, Allotments on a VA Loan For some of the Veteran’s we’ve helped the LES has also shown HDP, FSSA DLA and ReEnlistment Bonuses that … (0 comments)
va loans: Qualified Income for VA Loans
- 03/19/13 12:54 AM
Great News! You don’t necessarily need to be employed to qualify for a VA home loan. We can count retirement income for Veterans, child support and Alimony can also be used to qualify for a VA mortgage loan too. The important thing to remember when you are looking at Income Sources Qualifying for a VA Loan is this… we need Stable Employment that we can DOCUMENT. If you are currently working as a Fireman, and a Painter that is AWESOME. If you are not claiming all of your income as a Painter, then we will not be able to use that … (2 comments)
va loans: VA Loans for Disabled Vets
- 10/18/12 02:06 AM
Disabled veterans have some special benefits when it comes to getting a VA loan… and, you have a special place in our hearts. We so appreciate your service, and we want to help you maximize your disability benefits so that it’s easier to close on your new home in North Carolina! While it is true that some Disability benefit paperwork can take a while to be processed, you don’t have to wait until your disability benefits go through to get your VA loan started! VA Guarantee Funding Fees The VA has it’s own form of PMI – it’s called … (2 comments)
va loans: Options for No Money Down Home Loans in North Carolina
- 07/19/12 08:48 PM
Most people who think about No Money Down Home Loans - think of USDA Home Loans. It's a great program, and because of the demand... it's getting back logged in NC. Great News! There are OTHER options if you are looking for a mortgage that doesn't require ten's of thousands of dollars in down payment! They don't require that you live in a certain area (like USDA No Money Down Home Loans do) and there are no Maximum Income Requirements for most of these programs either! MORE INFORMATION ABOUT USDA NO MONEY DOWN HOME LOANS FHA No Money Down Home Loans: … (6 comments)
va loans: How Underwriters Currently Treat Income for VA Loans
- 10/30/08 12:34 AM
We are fortunate to live near several Military Bases, and we are working with several folks who are using their VA benefits to purchase homes. Mortgage loans backed by the Veterans Administration are 100% loans based on the homes value, and do not generally carry location restrictions like USDA loans do... We sell our loans to many different banks, and this give us great pricing and great flexability... and is also showing us that underwriters are looking at BAH and BAS pay (along with other income) differently across the board. Since this definitely affects how much home you can qualify to … (7 comments)
va loans: Veteran's Benefits Changed with New Law October 10, 2008
- 10/28/08 04:15 AM
The VA made a significant change on October 10, 2008 in an effort to help Veteran's who might be caught up in a subprime mortgage. The Veteran's Administration never made any subprime loans, and even the adjustable rate mortgages offered through the VA are considered to be some of the safest, most conservative products offered... here's what they did: The increased the amount of cash a veteran can pull out of their primary residence on a refinance to equal 100% of the maximum loan amount for the area... and they changed the maximum loan amounts offered through the VA to more … (3 comments)
I don’t normally write about “real life” situations, but we just had a VERY unusual Loan situation that invovled a Veteran, and I’d like to talk about it. I learned something from the experience, and if you or a family member feel you might be eligible for Reservist VA Home Loan Benefits, you might learn something too.
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