I am often asked what is a VA funding fee? A VA funding fee is just like an insurance policy for the lender that loans the money for the home. The VA 'guarantees' the lender against default. So if something goes wrong and the homeowner can no longer make the payments, the lender will be covered for any loss by the VA. Unfortunately just like … [Read more...]
What is an FHA Loan?
I'm often asked what an FHA loan is. FHA loans were originated in the 1930's during the Great Depression to insure lenders against default with the sharply rising defaults and foreclosures which is similar to our market today! A few highlights of FHA financing include: As little as 3.5% down lower credit score restrictions … [Read more...]
Apply for VA Loan
Apply before you buy. As a home buyer, it's best to contact a lender before signing a contract for a home. Getting pre-approved helps you to determine your maximum mortgage amount. When starting the VA loan approval process, you will want to make sure that you are prepared to review your past/present job history and credit history - as these will … [Read more...]