va mortgages: A Very Large Percentage Of Veterans Do Not Have A VA Mortgage - 06/29/14 06:26 AM
I read an article this past month in National Mortgage News titled "Underused VA Mortgage Program Makes Inroads" by Brian Collins.  The article contain a statistic I found interesting, it stated "Of the 16.4 million active duty service members and military veterans with mortgages, less than 12% have a loan guaranteed by the Department of Veterans Affairs."  That mean A Very Large Percentage Of Veterans Do Not Have A VA Mortgage on their home.
I should have found this surprising given VA Mortgages are a "0" money down mortgages with NO PMI, but I did not.  The article tried to give a number of reasons … (35 comments)

va mortgages: There Is Always Something New To Learn In The Lending Industry - 06/08/12 11:15 AM
There Is Always Something New To Learn In The Lending Industry.  It does not matter how long you have been a Loan Originator there is always something new to learn.  Yesterday was one of those times for me, and I was surprised by the answer.
I have a Veteran that wants to purchase a home with a VA Loan.  This Borrower owned a house in Arizona up until a year and a half ago and had a Conventional Mortgage on it.  This Borrower needed to relocate to Connecticut because of his job, and we all know the Housing Market in Arizona … (29 comments)

va mortgages: VA Changes Desktop Underwriting (DU) - 01/16/12 12:49 PM
On the week of December 17, 2011 VA made changes to its Desktop Underwriting (DU) Model.  The VA Changes To Desktop Underwriting (DU) were in the area of Credit Risk Assessment.  This seemed innocent enough when I first heard about it, until I felt the affects of these changes this past week.
If you have not run a VA File through DU lately this is what you can expect when you do. VA is now looking for higher credit characteristics in order for files to receive an Approved/Eligible.  What this means is that several loans that previously received an Approved/Eligible will … (4 comments)

va mortgages: We Lucked Out - 12/06/09 11:28 AM

 
Well we lucked out.  I wrote a post yesterday as our first snow fall for the 2009-1010 Winter Season was arriving.  We were expecting 1-3 inches here in Middletown, Connecticut, and we lucked out in being on the lower end of that range.
I love New England and one of the things that I love most is our unpredictable weather, and this past week was an excellent example of that.  During the beginning of the week the temperature was mild and in the 40's and 50's, on Friday it was about 70 degrees depending on where you were in … (26 comments)

va mortgages: Are You Ready For This Weekend!!! - 08/20/09 06:53 AM
This is a huge weekend for Yankee and Red Sox Fans.  This weekend will determine if the Red Sox stand a chance to compete for the American League East Division Championship, or have to fight for their life for a Wild Card spot.
The Red Sox started out the first half of the season with a bang, by sweeping the Yankees 8 straight games.  But the second half of the season has not been kind to the Red Sox, and the last time the two teams faced each other the Yankees swept the Red Sox 4 straight games.
This weekend they … (20 comments)

va mortgages: Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut .... Introduction - 08/13/09 01:11 PM
Over the next two weeks I will be writing a series of blogs about Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut. The series of Blogs will cover Connecticut Housing Finance Authority (CHFA) Mortgages, USDA Mortgages, VA Mortgages, and FHA Mortgages. I will be concluding the series with two blogs that will cover what a Borrower should do to prepare themselves for the Home Buying Process, and help them determine which Loan is best for you for them.
I decided to write this series Mortgage/Loan Programs with Low or No Downpayment Still Available In Connecticut, because of the … (9 comments)

va mortgages: Wordless Wednesday - 08/12/09 12:20 PM


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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, andConventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(23 comments)

va mortgages: Things Get Done When We All Cooperate. - 07/20/09 12:27 PM
Three weeks ago I got a call from the local William Raveis Real Estate in house Loan Officer.  She had a loan that met FHA Guidelines, but she could not get an approval on it, because their investor did not like the limited number of credit lines that the Borrower had.  I wanted to make sure that I would not have the same problem so I went over to my Underwriter and ran the scenario by her.  She told me that we would not have a problem with that and to bring the loan in.  I called the other Loan Officer … (8 comments)

va mortgages: Wordless Wednesday - 07/15/09 02:42 PM


 
 
 
 
 
 
 
 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(13 comments)

va mortgages: Food For Thought #1 - 07/13/09 07:12 AM
I have been in Sales for over 34 years, and there are two things that are closely related, and seem to be a constant regardless of what type of Sales Field you are in.  I will cover the first one in this blog and the other hopefully tomorrow.
The first one is, and this never stops amazing me, is that Sales People are always looking for new ways to do things, or that will generate more business.  Now before you say what is wrong with that, there is nothing wrong with that, but what amazes me is that when they find … (18 comments)

va mortgages: What Kind of First Impression Do You Present? - 07/11/09 04:11 AM
During my time here on ActiveRain I have read several blogs about how important it is for a Seller to prepare their house before they put it on the market for sale. These blogs have provided excellent advice, and suggestions on how to make a house attractive to prospective buyers. One of the common themes in each of these blogs has been how extremely important it is for a house to make the best possible first impression that it can.
All these blogs show how important it is to prepare a house for sale, but how much thought do we Loan … (12 comments)

va mortgages: Are Things Always As They Seem?????? - 07/10/09 09:24 AM
In case you have not seen this yet, the picture below which Yahoo had as one of its highlights on my Yahoo Home Page today, has created more than a little bit of a stir.  Some times things are not quite what they seem or are they.

Below is a link to a video that ABC News broadcast from a GMA News clip, that gives a little more detail of why the President was looking in that direction, or on the other hand does it really clear up anything ......... LOL
Link to Obama Video.
I sure am glad the … (21 comments)

va mortgages: Almost Wordless Wednesday. - 07/08/09 03:20 PM
The month of June here in Connecticut was probably the wettest month that I can ever remember, and July is starting out the same.  I have been posting pictures of flowers during this time that have really benefited by all this rain, and it has been very evident in their beautiful bright colors.  But I think that even the flowers are ready to waive a white flag and give up because of the continuous rain.  The flower below is a good example of this, it looks like it is saying I give up and surrender.  A little sunshine please :) :)
(13 comments)

va mortgages: Glad I Got This Warning In Time!!! - 07/06/09 12:12 PM
My wife just e-mailed me this very important SCAM ALERT, and I thought that I better share it with the rest of you here on ActiveRain.  As you all know we have a BIG problem with ticks here in New England, and here in Connecticut we have even our own "tick" named after one of our towns, the "Lyme Tick", which is responsible for, you guessed it "Lyme Disease
I sure hope that I am not to late in getting the word out to all of you on this.
I hate it when people forward bogus warnings, and I have even … (23 comments)

va mortgages: Connecticut Middlesex County Chamber of Commerce Business After Hours .... Angelico's Lake House - 07/04/09 09:33 AM
The Connecticut Middlesex Chamber of Commerce is continuing its Business After Hours events through the summer, and what better place to hold the July Business After Hours, than at Angelico's Lake House overlooking Lake Pocotopaug in East Hampton.
This event will be held on the 13th from 5:00-7:00 p.m.  If you have never been to Angellico's Lake House you are in for a special treat.  The food is excellent and the atmosphere on their patio overlooking Lake Pocotopaug is prefect for enjoying an evening with friends, co-workers, and business partners, as well as taking this opportunity to do some networking.
OH … (5 comments)

va mortgages: So what do you think the interest rates are going to do? - 07/02/09 12:42 PM
If I had to pick the question that I am asked most, it would be an easy choice "what do you think the rates are going to do?"  I get asked this question almost every time I do a loan at the point when the Borrower has to make the decision whether to lock the rate or float it.
My answer to this question is simple "if I new what the rates were going to do, I would be on a very warm sunny beach, without a care in the world".  If I could predict whether the rates were going to … (21 comments)

va mortgages: Another Happy Ending. - 06/30/09 02:04 PM
Yesterday I wrote a blog about a loan that was really tough to get to the Closing Table.  Well today I had one that was the opposite.  It was a loan that Andrea Swiedler referred the Buyers to me.
Both Andrea and the Buyers were a real pleasure to work with, everything I asked for was provide immediately.  Andrea is a true Pro and really, really knows her stuff.  The Buyers had lots of questions, but all of them were very well thought out, and a couple of times helped to direct me to the answers.
This deal went as smooth … (9 comments)

va mortgages: Speechless Sunday - 06/28/09 01:04 PM

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(22 comments)

va mortgages: FHA The Main Loan Program In Connecticut!!! - 06/23/09 03:20 PM
While the title says that FHA is the main loan program in Connecticut, the truth is that FHA is probably the main Loan Program in many other states as well.  With all of the changes that have happened in the last year to Fannie Mae, Freddie Mac, PMI Companies, and changes in Appraisal Guidelines, have made FHA is a very attractive Loan Product right now.
In the past year we have seen Freddie Mac and Fannie Mae incorporate several point adjustments into the pricing of loans that are backed by them.  There are hits for points if the FICO Score is … (9 comments)

va mortgages: Whose Decision Is It!!! - 06/22/09 02:38 PM
One of the great faults that many people in sales have is thinking that they know better than their clients.  They feel that their knowledge of the product that they are selling somehow entitles them to the freedom of making decisions for those who are the ones who are spending the money.  Having this feeling or attitude creates many unnecessary problems.  Having this feeling or attitude leads the sales person to somehow think that they have the right to decide what their clients should purchase, and how much they should purchase.  After all they are the experts on the product and … (24 comments)

 
George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) Ambassador large

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

More about me…

George Souto NMLS #65149 FHA, CHFA, VA Mortgages

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

Office: (860) 573-1308

Mobile: (860) 573-1308

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