Inaccurate Bankruptcy Discharge Dates & VA Home Loans

Often, we receive urgent"I NEED HELP" calls from clients who receive bad news from their current lender.  The most common type of these calls involve a loan officer missing a tiny yet key detail that has led to some unfortunate circumstance for a buyer.   One such call involved a VA home loan and an inaccurate chapter 7 bankruptcy discharge date. Apply for a VA Home Loan Now 602.435.2149 Auto Underwriting Systems & VA Borrowers Credit VA home loan rules require VA … [Read more...]

VA Condo Financing Hidden Hurdle

Financing a condo has always been a unique process.  VA condo financing (just like Conventional, FHA, JUMBO condo financing) has an added layer of underwriting.  Lurking in the added layer is a rare but deal breaking circumstance that can restrict the veteran's ability to finance a condo with a VA home loan. Apply for a VA Home Loan Now 602.435.2149 Approving the Condo Project is Nothing New Condo financing is unique based on the need for the entire HOA/condo project … [Read more...]

2018 Maximum VA Loan Amount | $453,100

VA maximum loan amounts are rising along side Conventional Loan limits.  Effective January 1, 2018 the maximum 0% down VA home loan limit is $453,100 for non high cost areas.  The max VA loan increase is due to the Federal Housing Finance Agency's increase to "Conforming Loan Limits" for 2018.         Search for Max Loan Limit by County: County Search Apply for a VA Home Loan Now 602.435.2149 VA Home Loan Max Limit 2018 Effective … [Read more...]

VA Escrow Holdback Renovation Loan

For years, veterans have been without a VA Renovation mortgage option.   Well, that wait has come to a glorious end!  Welcome to the era of the VA Renovation home loan.   Apply for a VA Home Loan Now 602.435.2149 The VA Renovation loan resembles an FHA 203k or HomeStyle home loan.  With it, veteran's can finance repair and renovation costs into their home loan.  Furthermore, VA Renovation loans are for both purchases and refinances. VA Renovation Loan Based on … [Read more...]

VA Loan – Costs Paid By Seller

The most common financing question related to the AZ Residential Real Estate Contract is "what fees does a seller have to pay on a VA loan/offer?"  The short answer now in Arizona is almost always going to be $0 (see below for more).  There are 2 fees leading the pack causing uncertainty. ESCROW FEE   TERMITE REPORT FEE Learn more about who pays for VA Closing Costs 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 … [Read more...]