VA Escrow Holdback Renovation Loan Available

VA Escrow Holdback Renovation Loan Military veterans now have access to a great VA - RENOVATION ESCROW HOLDBACK HOME LOAN.  This home loan option is much like the FHA 203k, HOMEStyle, escrow holdbacks and Jumbo Renovation Loans that we offer but now - for eligible veterans using a VA Home Loan. Veterans can use this VA Escrow Holdback Renovation loan to finance the cost of either required repairs and/or desired improvements to a home.  The great news is that this product is available for … [Read more...]

VA – Veteran Closing Costs Paid By Seller

AZ Purchase Contract & VA Seller Paid Closing Costs The most common financing question resulting from new AZ Residential Real Estate Contract is "how much and what fees does a seller have to pay on a VA loan/offer?".  The short answer now is almost always going to be $0 (see below for more).  There are 2 fees that are leading the pack when it comes to uncertainty in the market's mind:  1. ESCROW FEE   2.TERMITE REPORT FEE ESCROW FEE In the old AZ Real Estate contract lines 83-85 … [Read more...]

VA Appraisal Fee Increased in Arizona

  VA Appraisal Fee Increases in Arizona Effective December 1, 2016 the fee for a VA interior/exterior appraisal for a single family home in Arizona is $600.   The VA appraiser also still has 7 business days in Ariziona to complete a report or communicate to the designated point of contact (someone with the buyer’s mortgage company) that they are having trouble completing the report due to value and/or property complexity. For more information on this change and other VA appraisal … [Read more...]

VA Appraisal Turn-time and Mondays

VA Home Loan Appraisals - Plan Ahead A VA home loan is one of the best mortgage products available.  The VA appraisal process however is not the most efficient or convenient.  In fact, utilizing a VA mortgage requires careful planning and scheduling to ensure an on time closing.  The one leading that charge should be your VA loan officer.  There are some unique and quirky rules that apply to VA appraisals that if overlooked can cause costly delays. There are several factors involved with … [Read more...]

HOME in 5 Down Payment Assistance Program Changes Fees

HOME in 5 Updates Fee Structure and Grant Total As we anticipated, HOME in 5 has undergone a few changes in response to the OIG’s recent investigation.  The changes in this case are much simpler than the changes we saw come through last week for HOME PLUS (click – HERE  for more on HOME Plus).  Quick recap, the issue the OIG had was that the discount point charged on the HOME in 5 program was not being used to lower the borrower’s rate.  This prompted changes with HOME Plus last week and … [Read more...]