VA Home Loan Process for Active Service Members

Military buyers have a huge benefit when it comes to purchasing a home.  Not only do service members have a no down payment option, but VA loans may be the best mortgage available.  VA loans offer up to 100% financing with no monthly mortgage insurance.  Thus, this feature keeps mortgage payments low.  This is especially true when comparing to other low to no down payment loan types.  So if interested in buying a home while in the service, it is important to understand the VA home loan process.

VA Home Loan ProcessVA home loan process

Although a VA loan doesn’t require a down payment and has such great terms, we feel education is key.  We are not just an online company or call center type lender. …

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Fannie Mae Student Loans Mortgage Guidelines Relax to Help Buy a Home

A recent USA Today article stated “Americans now have more than $1.4 trillion in unpaid education debt, according to the Federal Reserve”.  Average student loan debt for 2015 graduates in North Carolina is $25,645.  Plus many graduates have so much more.  It is not uncommon for a buyer to owe $50,000 – $100,000 or more.  This is a serious hindrance when it comes to buying a home.  But lately lending agencies have started loosening guidelines to help homebuyers.  Fannie Mae student loans are the latest to treat student loan payments differently.  Therefore, Fannie Mae released very flexible and lenient ways to help homebuyers with student loan debt.

Fannie Mae Student Loans…

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Mortgage Rules Have Changed So Why Are You Still Renting

The biggest misconception among renters is that a large down payment is necessary to buy a home.  Then many will rent for an extended period thinking that a home purchase is unreachable.  A recent article by Citylab, “The down payment is too ‘daggum’ high” explained it well.  It explains how many renters cite lack of funds to cover the down payment as the top reason not to buy.  But actually there are some great no down payment mortgage options available to many.  Even other programs with small down payment requirements allow gifts from family and other sources.  On top of that, lending agencies have relaxed guidelines for how student loan payments are treated.  Often student loan debts…

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Mortgage Process Explained for Buyers


Mortgage Process from A to Z

Are you a first time homebuyer or been a while since you last purchased a home?  Then, we have prepared a comprehensive summary of what to expect from prequalification to closing.  Therefore, we describe each step of the mortgage process so that you know what to expect.  Our process divides into 3 major segments called Gather, Process, and Move-In.  In addition to reading the list, check out the more detailed explanations, as well as relevant article links.

Mortgage Process Comprehensive List

Gather

  • Initial discussion of buyer goals and scenario
  • Completing loan pre-application & pull credit report
  • Loan Pre-Approval
  • Provide detailed list of items needed to…

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12 Things to Check For Before Your VA Appraisal


The dreaded VA Appraisal!  Yes, that stage of the purchase that makes realtors and sellers cringe.  Really, a VA appraisal isn’t that bad when you know what the appraiser is looking for.  We have actually written several helpful articles referencing appraisals.  One of our most popular articles is “Appraisal requirements to prevent closing delays and extra costs“.  Although, today let’s talk specifically about the VA appraisal.  So, we thoroughly researched this subject.  We polled processors, VA underwriters, and even appraisers.  Then we compiled the following list plus explain each in more detail below.

Top 12 VA Appraisal IssuesVA appraisal issues

  1. Rotten wood around fascia boards, doors, & garage doors
    2. …

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Rent to Own Homes: How a Lease With Option Purchase Contract Works


Financing rent to own homes is a popular topic.  Are there reasons holding you back from buying a home now?  Are you in a lease with option to buy contract and ready to purchase the home now?  These are common topics we will thoroughly discuss.  Before entering a rent to own contract, check into mortgage qualification first.  It is possible to qualify to buy now.  If not, at least know where you stand and get advice for the next steps toward ownership.

Rent to Own Compared to Seller Financing

The primary difference between these two is ownership.  In seller financing, the ownership of the property actually changes hands.  The property is deeded into the name of the buyer…

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