Archive for the ‘Mortgage Loans’ Category

Last week, Congress voted to extend the First Time Home Buyer Tax Credit for an additional six months for any service member that served at least 90 days overseas. This is an excellent development for our VA Guaranteed Loan clients, not only can you get a mortgage with no down payment, no mortgage insurance, and expanded credit underwriting, but, if they are a first time home buyer, they also qualify for the up to $8,000 tax credit. Read More

VA Guaranteed Home Loans are available to veterans with at least three months active, honorable, service or six years of Reserve or National Guard service. They are also available for active duty members under certain circumstances. Read More

It used to be that if you were applying for a 100% USDA Rural Guaranteed Mortgage, you couldn’t have more than $5,000 left over at closing because the main purpose of the loan was to help people purchase homes in “under” served areas with no money down. That restriction has changed for this USDA no money down program. Read More

VA Guaranteed Loans in Oregon do not require a down payment if the purchase price/loan amount is below $417,000. However, if the purchase price is above that amount, then a down payment is require, which still could be the best way to go for many veterans. The VA Guaranteed Home Loan is, to my thinking, one of the best benefits we have for our veterans. Read More

VA Guaranteed Home Loans are different than any other type of loan in one very interesting way. To get a VA guaranteed loan, you have to be a veteran (and spouse) or an active duty military (and spouse) or the surviving (un-remarried) spouse of a veteran. What that means is that a couple that are not married and only one of them is a veteran, VA loan benefits are nearly not available. Read More