2021 $0 down, VA home loan limit for St. Louis County is $548,250. St. Louis County is a great place to settle down with your family, thanks to the many local resources and friendly community. Located on the eastern edge of Missouri, St. Louis County is home to some of the most beautiful outdoor locations. […]
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Withdrawing Automatic Authority
The following applies to both supervised and nonsupervised lenders. If the VA has decided to withdraw a lender’s automatic authority, it will give the lender a 30 day notice. The withdrawal of automatic authority will not be without proper cause, and the lender will be informed of the reason or reasons for the withdrawal. If […]
Read MoreWho Can Request Recognition of an Agent?
Both nonsupervised and supervised lenders can request the VA recognition of one of their agents. To obtain approval of this request, the agent must have an ongoing relationship with the lender. This means the lender has worked with the agent at least four times over the last year. The lender may allow an agent to […]
Read MoreRequesting Underwriter Approval for Nonsupervised Lenders
The underwriter is responsible for approving or rejecting all VA loans. Therefore, the underwriter must be VA-approved. A nonsupervised lender can request the approval of additional underwriters at any time. This request must be sent to the VA Office of Jurisdiction over the nonsupervised lender. Things required for the request include a $100 fee and […]
Read MoreHow a Nonsupervised Lender Can Obtain Automatic Authority
A nonsupervised lender is a lender who can close loans, but only after applying and getting approval by the VA. Nonsupervised lenders have no banking operations and operate solely as lenders or investors. Nonsupervised lenders can do most of the same things supervised lenders can do, but require VA approval in most cases. The first […]
Read MoreRequired Certifications for a Nonsupervised Automatic Lender
Now that the nonsupervised lender can close loans automatically, they must also follow a set of guidelines to prevent losing their automatic status. If these guidelines are not followed, the VA could revoke the lender’s automatic approval status. One: No Closing for Others Firstly, a nonsupervised lender should never close loans for others. A certified […]
Read MoreWhat is a Supervised Lender?
A supervised lender is any lender that requires scheduled examinations and supervision by a Federal government agency. They are different from a nonsupervised lender in that they do not need VA approval to close or process their loans. While nonsupervised lenders have to send a number of documents to the VA to get approval for […]
Read MoreAm I Eligible For A VA Home Loan?
Veterans and active duty military of all branches may be eligible for a VA loan. To be eligible for a VA loan the veteran must have served in 90 days during wartime or 180 days during times of peace. Veterans who joined the service after Sept. 7, 1980 or entered as an officer after Oct. […]
Read MoreApplying for a Certificate of Eligibility
Applying for a Certificate of Eligibility (COE) can be a fast and easy process done by a lender or veteran. An application for the Certificate of Eligibility can be found at http://www.ebenefits.va.gov/. The application only takes a few moments, and can display the veteran’s results in a matter of seconds. If the veteran is qualified […]
Read MoreWhat is a Certificate of Eligibility?
The Certificate of Eligibility also known as COE, serves as proof to the lender that the veteran is eligible for a VA home loan. The COE just verifies that you are eligible and does not mean that you automatically qualify for a loan. You must still go through the process of qualifying for VA financing. […]
Read MoreThe Lender’s Job in Establishing Eligibility
The lender is responsible for processing and closing a loan for VA loan applicants, but before this is done, they need to determine the applicant’s eligibility. There are a number of qualifications the applicant must meet to be eligible for a VA loan. If the veteran meets the requirements, they will receive an entitlement. The […]
Read MoreThe Impact Inflation Has on Real Estate
Inflation impacts many areas of American consumerism. The price of gas, groceries, cars and most of all the housing market are all influenced by the current state of inflation. Often, consumers’ erroneously think of pricing in terms of arbitrary processes, overlooking the myriad of things that determine the cost of specific goods. In terms of […]
Read MoreVA Loan For Same Sex Marriages
One of the major areas of change facing VA Home Loan Centers, as an agency responsible for administering the VA Home Loan Guarantee to veterans, is the question of same-sex marriage. Federal law stipulates that veterans and their spouses are eligible to apply jointly for mortgages backed by the Veterans Administration. Unmarried couples (including same-sex couples) could […]
Read More48 Home Improvements That Can Be Added To Your VA Loan
The VA home loan program offers eligible borrowers a multitude of advantages. No money down, no private mortgage insurance required, accessible refinancing options, no established minimum credit scores, and service-related disability options, anchor the loans appeal. These benefits are the driving force behind the loans expanded popularity in recent years. Many borrowers however do not […]
Read More13 Tips To Help You Get A VA Loan
The VA home loan program offers borrowers interest rates that stack up favorably in comparison to traditional loans. Generally, VA loans come with an interest rate between half a percentage point and a full percentage point lower than conventional loans do. The program also has easier qualifying standards, including no minimum credit scores. No money […]
Read MoreWhy Should You Be Accurate When You Apply For A VA Loan?
Since the creation of the original GI Bill, VA home loans have functioned in aiding active duty personnel, and veterans realize the dream of homeownership. Over the past 70 years, the loan program has assisted 18-million people receive the financing needed in securing a mortgage. Today, just as it was true following the conclusion of […]
Read MoreWhat are the Differences Between Conventional Loans and VA Loans?
Buying a home is one of the most important decisions a person will make over the course of their life. Although the foreclosure rate rose drastically in the mid-2000s, and the number of younger Americans buying a home has steadily declined in recent years, the American rate of homeownership remains at roughly 65 percent. Despite […]
Read MoreWhy Get a San Diego VA Mortgage?
If you are a serviceman or reservist who is moving to California, a VA home loan can make buying a home in the state more affordable. VA home loans are available not just to veterans and the unmarried spouse of an eligible veteran, but also to active duty, reserve personnel, and even some civilians. A […]
Read MoreApply For A VA Loan To Achieve The American Dream
The “American Dream” of homeownership has remained the constant aspiration of Americans throughout the years. Even as demographics shift, young Americans aged 18-34 still maintain the same desire for homeownership as previous generations did. In a recent survey of young people, 84 percent of respondents stated intent to someday buy home. Despite this aspiration, a […]
Read MoreNew Residential Home Sales Strengthen After Slow July
When new residential housing sales were weaker than expected in July, it had many experts worried the strong housing recovery had stalled, but according to the newly released HUD and Census Bureau report on residential home sales for August 2013, this doesn’t seem to be the case. In fact according to the report, sales of […]
Read MoreVA Mortgage Applications Soar in June
As national mortgage applications soar VA Home Loan Centers record highest level of VA loan applications since 2009. The Mortgage Bankers Association has announced an increase of mortgage applications in the month of June. The Association also announced that the refinance index increased in the first week of June to more than 19 percent from […]
Read MoreAmerican Indian And Alaska Native Veterans To Benefit
The VA’s First Tribal Consultation Sessions The Department of Veterans Affairs has hosted its first tribal consultation focused on providing services to American Indian and Alaska Native Veterans in Washington, D.C. The meetings focused on areas concerning the three major components of VA. Within the Veterans Benefits Administration, the discussion centered on the Native American […]
Read MoreIncrease in Foreclosures: With VA-HLC it’s Win-Win
Following the release by RealtyTrac® of their Q1 2012 Metropolitan Foreclosure Market Report showing 54 percent of U.S. metros posting a quarterly increase in foreclosure activity in the first quarter, VA Home Loan Centers (VA-HLC), a San Diego-based organization that specializes in VA loans and helping veterans, active-duty military and their families with homeownership, has […]
Read MoreVirginia Mortgage Relief Activists Could Serve as A Model
VA Home Loan Centers highlights scale of the mortgage problem and offers relief for homeowners with VA Loans Through its HAS℠ program. Prince William County, Va. has suffered its fair share of foreclosures with more than 16,000 since 2004, representing more than 10 percent of all homes in the county. In recent months a group […]
Read MoreLeading VA Home Loan Expert Applauds U.S. For Securing $202 Million, Admissions of Wrongdoing by Deutsche Bank, MortgageIT
VA Home Loan Centers pushing for restoration of integrity after civil fraud case alleged reckless mortgage lending and false claims by Deutsche and subsidiary MortgageIT. The top loan administrator at VA Home Loan Centers (VA-HLC) is commending the government for winning a settlement with one of the worst institutional offenders in the run-up to the […]
Read MoreVA Loan Homeowners Need Not Wait on BofA’s Principal Reduction Letter
As Bank of America (BofA) begins sending out highly publicized letters to 200,000 of its customers offering them principal reductions under the terms of a recent settlement among five major banks, 49 state attorneys general and the federal government, homeowners with VA loans who do not receive a letter – or do not qualify – […]
Read MoreVA HLC HAS℠ Program Launched
VA Home Loan Centers Launches Homeowners Action Services (HAS℠) Multi-option action plan for veterans and active-duty service members will keep some families in their homes, help others save credit rating – or both. VA Home Loan Centers (VA-HLC) has launched a new service to assist eligible homeowners with VA home loans who are facing financial […]
Read MoreVA Home Loan Centers Adds Chat Functionality
San Diego, California (PRWEB) May 24, 2012 VA Home Loan Centers (VA-HLC), a San Diego-based organization that specializes in VA loans and helping veterans, active-duty military and their families with all aspects of homeownership announced today that it has added a client-to-agent chat functionality to its Web site (https://www.vahomeloancenters.org). The new chat feature will include […]
Read MoreNew Loan Application Page Designed To Assist Borrowers
San Diego, CA (PRWEB) May 22, 2012 VA Home Loan Centers (VAHLC), a San Diego-based organization that specializes in VA Loans and helping veterans, active-duty military and their families with home ownership, has redesigned its online application process. The new format, which can be accessed through the company’s Web site, vahomeloancenters.org, is designed to eliminate […]
Read MoreVA Home Loan Centers Announces Fee Increase for Expedited Condo ID Submissions
VA Home Loan Centers, the trusted provider of VA loan services for active duty military, veterans and their families, announced today that effective April 17th, VA Home Loan Centers will implement fee increases for the processing of condominium ID submissions. VA Home Loan Centers announced that as of April 17th, 2012, the fee charged for […]
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