Archive for the ‘Purchase loans’ Category

I recently started a six part series on my FHA Blog about HUD FHA FAQs for FTHBs and thought I should help out my comrades in arms with the same sort of information from VA.  This is only going to be a 4 part series, I guess Veterans don’t ask as many questions, LOL. This is part 1 of the series: Read More

How can you buy a home in the Eugene or Springfield are that is priced over $500,000 with less than 20 per cent down? One of the best ways, to my thinking is a VA Guaranteed Home Loan. I know that most often we think of VA loans as not requiring a down payment and that is true if the purchase price/loan amount is below $417,000 in Eugene/Springfield, Lane County Oregon. That changes when you purchase a home for over $417,000 in our area, all of a sudden a down payment is required.  Read More

Recently I have seen examples of USDA Rural Guaranteed Mortgage Loans that were turned down by USDA for reasons that have not been an issue previously to my knowledge. What this points out is that with the increased interest in USDA Rural Guaranteed Mortgage Loans as one of the very few 100% financing options out there, the review process is getting stricter. So, if you are looking for a no money down loan, you should be prepared for the extra scrutiny during the process.  Read More

USDA and VA Loans Read More

Our USDA Guaranteed Home Loans are underwritten by our in-house underwriting staff, but after it is approved through our staff underwriters, the loan then must be forwarded to USDA for their approval of the loan, since they are the ones guaranteeing the loan. This is similar to what happens when a mortgage insurance company requires loans to be submitted to and approved by them prior to insuring the loan. Read More