VA Escrow Holdback Renovation Loan

VA - Renovation Escrow Holdback Loan is now an option for eligible veterans.  The VA Renovation home loan option is similar to FHA 203k, HomeStyle, escrow holdbacks and Jumbo Renovation Loans that we offer  for eligible veterans using a VA Home Loan. Apply for a VA Home Loan Now 602.435.2149 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 … [Read more...]

VA Loan – Costs Paid By Seller

The most common financing question resulting from new AZ Residential Real Estate Contract is "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 required seller to pay the escrow fee on a VA home loan (see below).  That … [Read more...]

VA Appraisal Fee Increased 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 requirements in our market click VA Arizona … [Read more...]

Deferred Student Loans & a Home Loan

If you have had the misfortune of having a student loan payment derail your home loan pre-approval, do not give up yet!  Far too many mortgage lenders do not keep up with the rapid changes with student loans.  Whether it be on a Conventional Loan, FHA Loan or VA Loan there are multiple methods a lender can use to determine what student loan payment needs to be counted against you.   Lets look at Conventional Financing and how to get through student loan trouble. Deferred Student Loan Mortgage … [Read more...]

VA Appraisal Turn-time & Mondays

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 a VA appraisal that are quite different … [Read more...]