How Long Until You Can Buy Again After Short Sale, Foreclosure or Bankruptcy in Alameda, CA?
View full post on Mortgage Video & Blogging Community
how long do you have to live in your house after using the FHA loan program?
We bought our home 8 months ago and we are expecting another child. Our home isn’t big enough. Do we have to stay here longer or can we move in the next 6 months? Thank you
Don’t Buy Real Estate in March 2011, buy 2012 and after
A Second wave of Adjustable loans will push Real Estate lower the middle of 2010 through the end of 2011.
The Formula for Negotiating Price Real Estate Investing Deals – After Repaired Value: ARV
The-Flip-Man.com – The Flip Man ….. The Formula for Negotiating Price Real Estate Investing Deals – After Repaired Value ARV …. ……. Junkers101.com makes Flipping Properties simple with a 1 on 1 Mentor- Coach – Trainer, no cash or credit needed. I will teach & mentor you…
What are my chances of getting a va or fha loan if i make $50,000 a year after taxes, monthly bills of $500?
bad credit about 3 years ago and cleaned it up this past year with a credit score now of 650 with no debt. My wife is a stay at home mom and does not work but is currently in school with about $20,000 in student loans. She will not be on the application. Will they consider that on the loan?
VA Funding Fee Lower for Loans Closed on or after October 1, 2011
The Department of Veteran Affairs recently announced in VA Circular 26-11-12 that the VA Funding Fee will go lower for loans closed on or after October 1, 2011. This is great news and will save Orange County Veterans using VA financing thousands of dollars over the next year. All VA loans are potentially subject to a “Funding Fee”, which helps to pay for VA’s ability to guaranty Zero Down financing for Active Duty and Retired Military personnel. In Orange County, CA a Veteran can purchase a home for up to $700,000 with no down payment. The VA loan limits for Orange County will remain at $700,000 through the end of 2011.
VA Funding Fee Comparison Chart
Below is a chart comparing the Funding Fee for VA loans closed prior to October 1, 2011, and loans closed on or after October 1, 2011.
It is important to note that in some cases the Funding Fee can be waived altogether. For Veterans who have military related disabilities, rated to at least “10%”, the Funding Fee can be waived.
VA Funding Fee Example for Orange County Veteran
The Funding Fee can be financed into the loan, which is what most VA loan borrowers do. For example, a Veteran purchasing a home in Irvine for $700,000, and using their VA eligibility for the first time, would be subject to a 2.15% Funding Fee based on the “prior to October 1″ fee percentage. This equates to a Funding Fee of $15,050 and a total VA loan of $715,050. But with the new Funding Fee percentage of only 1.4%, the Funding Fee is $9,800, with a total VA loan of $709,800. That is a savings of $5,250. It also effects the payment slightly, to the tune of $25 per month.
VA Loan PreApproval is the First Step for Orange County Veterans
The first step in determining how the VA Funding Fee will benefit your ability to purchase a home is to contact a local, Orange County, CA VA loan specialist who can prepared custom loan scenarios based on a combination of what you “qualify” for, what you can actually “afford”, and how much payment you are “comfortable” with. The loan scenarios will give you a complete breakdown of the purchase price, loan amount, payment, and amount needed to close, if any. If everything looks good, then its time to gather your income and asset documentation and get “Preapproved” for a VA loan.
View full post on Mortgage Video & Blogging Community
GoldSilver.com – What will the next asset class be after the gold bull market?
Mike Maloney discusses a basket of indicators he will be using to time his selling of his gold and silver bullion. He believes high dividend yield stocks and or real estate are two potential asset classes he may be moving into, his choice dependent upon what his proprietary investment indicators reflect. Mike mentions by the time this gold and silver bull market has run its course, it’s possible that real estate may be cash flowing on the order of some 15 to 20%. He also mentions that it will difficult for most investors in the future to qualify for mortgage loans, only highly capitalized investors will have the opportunity to benefit in this future scenario. Perhaps a high percentage of these folks will have had the foresight to acquire silver and gold bullion before the currency crisis comes to fruition? Anyone paying attention to the economics of today’s world can understand that physical silver and gold bullion make sense to hold and acquire. The most difficult part of being a silver and gold bullion investor is knowing when to liquidate. In the eventual, emotional high of a mania, it will certainly help to have trusted investors alongside helping one to stay as objective as possible and hopefully time one’s investing transition correctly. This is what we are striving to do for our customers, our GoldSilver Insiders. This is what separates us from every other gold and silver dealer out there. Today’s current gold and silver bull market has a long way to go to the …
VA has announced changes to the VA Funding Fee effective for all loans closed on or after October 1, 2011
Alameda: WHOOOHOOOO!!! Can you believe good news in the mortgage industry??? When I heard there were changes to VA funding fees I thought for sure we would see a spike like we have in monthly mortgage insurance premiums on FHA loans. Fortunately, unlike the up front FHA MIP the VA funding fee is going DOWN!
On October 1st qualified active duty VA borrowers will be able to get a 100% LTV VA loan and the funding fee will only be 1.40%!! Here is a breakdown of the savings for first time use of entitlement:
No down payment: Current Rate – 2.15%
Loans Closed on or After 10/01/2011 – 1.4%
5% down payment: Current Rate – 1.5%
Loans Closed on or After 10/01/2011 – .75%
10% down payment: Current Rate – 1.25%
Loans Closed on or After 10/01/2011 – .50%
If you or someone you know are looking to purchase a home using VA financing this is great news! Please contact the Werdmuller group for more information or to get prequalified today!
Related articles:
How to Purchase a home with a VA Loan in Alameda, CA
VA Loan Requirements and Eligibility in Alameda, CA
Approved Property Types and Loan Limits for a VA Loan
VA Mortgage Loans in Alameda, CA- A Piece if Island History
Life After Short Sale the True Story of Ricky and Liz
No Flash? Having Trouble Viewing?
http://youtu.be/t-wVoyeME3A
View full post on Mortgage Video & Blogging Community