Mortgage and Lending with PINELLAS FINANCIAL, LLC - Custom comment codes for MySpace, Hi5, Friendster and more

With so much affordable housing on the market, our veterans need to be aware of VA loan benefits!

  • VA loans require NO DOWN payment!
  • VA loans will allow the seller to pay up to 6% of closing costs!
  • VA loans DO NOT require MI (mortgage insurance)
  • VA loans offer conforming interest rates! 5% on a 30-year, fixed rate right now!
  • VA loans work with less-than-perfect Credit!

Our veterans deserve our respect, admiration and loyalty. Our government has paved the way for these men and women of honor to receive a home loan under the best possible conditions.

Call Pinellas Financial today if you are a veteran, know a veteran or have a client that is a veteran; to find out more about VA loans and what steps need to be taken to take advantage of this great opportunity!

Mike Saunders
Retired - Athens, GA

And don't forget, veteran's can use a VA loan more than once, they just need a new letter of eligibility.

Jan 22, 2009 11:25 PM
Philip Sanchez


Jan 22, 2009 11:28 PM
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor


I have used my VA eligibility once. Doesn't the funding fee or whatever you pay as a vet go up each time you use it? I believe we start at 1%.

Jan 23, 2009 01:10 AM
Terry Sanchez

Yes, it does go up. The second time you use it, the fee will be approximately 3.3%. This is based on the idea that if you have used it before, you would have built some equity and be able to give a little more of a fee, especially since VA requires no down payment and no monthly mortgage insurance. But as we all know, the idea that people have "equity" in their homes is sort of a long shot right now. Still a prettty good deal though.

Anyway, let me know if I can assist you further.

Jan 23, 2009 01:43 AM
Gene Allen
Fathom Realty - Cary, NC
Realty Consultant for Cary Real Estate

It is pretty good seeings on how you can put the funding fee into the loan.  On the other hand it does take equity out of the house that way. 

Jan 23, 2009 01:49 AM
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor


How much is the funding fee if used a third and then fourth time?

Jan 23, 2009 04:19 AM
Terry Sanchez

Not sure, never have had a buyer come to me using VA for a third or fourth time, I'll have to find out.

Jan 23, 2009 05:07 AM
Paul Fraser

RBC Bank President Gordon Nixon - Salary  $11.73 Million 


I'm a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC Bank account.

There was no monthly interest payment date or amount of interest payable per month on my loan agreement. Date of first installment payment (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan agreements signed by other fishermen around the same time disclosed monthly interest payment dates and interest amounts payable per month.The lending policy for fishermen did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn't familiar with these type of loans. She never informed me verbally or in writing about this new criteria.

Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415
RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mail
RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mail
RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mail
RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mail
RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mail
Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mail

"Fighting the Royal Bank of Canada (RBC Bank) one customer at a time"  

Jan 23, 2009 03:01 PM
Mike Davis
Keller Williams Realty, Augusta Partners - Evans, GA
Realtor, Selling Buying Homes Fort Gordon, Hephzibah, Augusta, Evans

thanks Terry, I did not know that the seller could pay up to 6% of the funding fee.

Jan 29, 2009 01:37 PM
Terry Sanchez


The VA funding fee is financed back into the loan. The same thing happens with the FHA, upfront, mortgage insurance. These are not costs/fees that appear as out-of-pocket costs. While these costs/fees appear on the HUD settlement statement, they are fees allowed to be financed back into the loan and do not affect loan-to-value. In plain english, "they are just added onto the borrowers loan amount". So the seller does not pay the VA funding fee.

Does that help?

Jan 30, 2009 12:00 AM
Dustin McAlister
Overland Park, KS

excellent info, thanks!


May 14, 2009 09:06 AM