Delays in VA Home Loan Processes

Low mortgage rates, great home prices and summer weather add up to one thing - a high demand housing market.  Veterans looking to use their VA home loan benefits are not immune from this frenzied housing cycle.  More veterans are taking advantage of the amazing benefits that the VA offers them through the utilization of a VA mortgage.  However, what impact does the traffic jam of Veteran buyers have on the VA Mortgage process?  Ordering certain VA related items may take just a bit longer … [Read more...]

Seller Can Pay Veteran’s Debt on VA

A VA home loan is among the best residential financing options available.  Low down payment, great rates, flexible debt to income limits are just a few of VA's highlights.  However, VA's best kept secret is something called Residual Income. VA Home Loan and Residual Income In fact, residual income is behind VA's flexible debt to income ratio limits as well as other exceptions not possible on other loan types.  In short, residual income measures the cash VA home-buyers have left over after … [Read more...]

High Debt to Income VA Loan Approval

Over the past few years (with the help of  Dodd Frank most recently) home loan debt to income ratios have tightened.  For example, the once lofty 65% debt to income ratio on Conventional loans was pushed to 45-50%.  One of the most flexible and "make sense" mortgage options available is a VA mortgage.  With the assurance of VA insurance, Arizona Lenders can often make exceptions to standard mortgage guidelines such as debt to income ratio ("dti").VA mortgage regulations typically cut veteran … [Read more...]

Fixing CAIVRS Report w/ a Divorce

If you are reading this, you probably know a CAIVRS report impacts your FHA, VA or USDA mortgage approval.  You are also probably in search of an exception to a CAIVRS hit.  Congratulations, you have landed in the right place.Apply for a Home Loan 602.435.2149 CAIVRS - What Exactly is it? In short, a CAIVRS report alerts a mortgage lender that a borrower is delinquent or default on other government insured debt.  For example, another Federal insured mortgage or … [Read more...]

Manual VA Certificate of Eligibility Timeframe

For those that feel VA home loans take too long, (I am not one of them) here is one more point to back your claim.  Processing times for certain VA Certificates of Eligibility have lengthened.  As of May 2014, the VA quotes up to 14 calendar days for manually processed VA Certificates of Eligibility ("VA COE”).Apply for a VA Home Loan Now 602.435.2149 Adjust for Manual VA COE Processing Every VA home loan must be accompanied by a VA COE.  VA Certificates of … [Read more...]