The state of California has extended and improved the $10,000 tax credit for home buyers in California. The old tax credit used to only be for brand new built homes, now the tax credit includes ALL first time home buyers buying ANY type of primary residence, brand new or resale. This is wonderful news those who first time home buyers [...]
Debt To Income Ratios
VA lending to active military and veterans remains the incredibly flexible, 100% zero down home loan it always has been as other types of home loans continue to significantly tighten their lending guidelines. Here are some examples: VA loan credit score: You can still get a 100% zero down VA loan with a 600 credit [...]
Starting in late 2007 the mortgage industry as a whole started a general tightening of guidelines that has continued in dramatic fashion over the last 2+ years. Yet through all of this, VA lending has stayed pretty much the same as it was before the all the problems in the mortgage market began. For non-VA [...]
Here are some miscellaneous items that I see often come up as issues when VA borrowers eligible for VA loan benefits apply for a VA Loan: 1. Remember in community property states like California, even if your spouse is not going on the loan with you, their credit report will still need to be submitted. Their debt obligations [...]
VA still offers a great way for borrowers who have VA loans to drop the interest rate on their home loan without much hassle. This is called the VA IRRRL Loan, also known as the VA Streamline refinance. There have been some changes to this loan in many states because of falling home values. Traditionally, [...]
