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Category: VA Mortgage

Chris Jordan Mortgage Team / The CJMT Blog / VA Mortgage
VA Home Loan Veterans SO CAL VA Homes CA Mortgage hiring a home in veteran hands
Budgeting Expert Advise Home Buyer Strategy Home Buyer Tips Mortgage 101 Mortgage Advice Mortgage Planning VA Mortgage

Big changes to VA home loans in 2020

December 10, 2019 CJMT No Comments
Beginning January 2020, loan limit changes are happening! The maximum loan limit, starting January 2020, will be $1,500,000 across the country (no longer State or County specific). *Borrowers with partial VA Eligibility will want to review with me the amount they can purchase with no…
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VA Home Loan Veterans SO CAL VA Homes CA Mortgage hiring a home in veteran hands
Expert Advise Mortgage 101 Mortgage Advice Uncategorized VA Mortgage

Active duty military & Veterans take advantage of huge VA home loan benefits

September 15, 2018 CJMT No Comments
For all those who are proudly serving our country, or who have served in the past, the US Department of Veterans Affairs (VA) does offer one of the best mortgage deals around. VA home loans are one of the least expensive mortgages available.  Lenders who…
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CONDO e1497646966956
FHA Mortgage Home Buyer Tips Misc Mortgage 101 VA Mortgage

Is this condo FHA / VA approved?

June 13, 2017 CJMT No Comments
For anyone purchasing a condo with FHA or VA financing, the first step is to look and see if that condo building is on the FHA or VA approved list.  This is very simple process and anyone can do it.  First, you will need the…
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Recent Posts

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This website is for informational purposes only. The information contained herein can change at any time, and there is no representation to the accuracy contained herein. Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. Subject to Debt-to-Income and Underwriting requirements. Please note that the pre-qualification does not constitute a commitment or a loan approval but is instead a preliminary assessment of your current credit worthiness. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of an application and verification of home ownership, occupancy, title, income, employment, credit, home value, collateral, and underwriting requirements. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. Main Street Home Loans is not a Financial Advisor, Tax Consultant or Credit Repair Company. Please make sure to consult your own Financial Advisor, Tax Consultant or Credit Repair Company regarding your specific financial situation. Veterans Affairs loans require a funding fee, which is based on various loan characteristics. VA 580 FICO – Purchases only, must have Automatic Underwriting System (AUS) approval. No cash-out under 600. On a USDA Loan 100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included. On FHA loans, LTV’s of up to 96.5% for FHA loans. FHA 580 FICO – Credit score below 600 requires Automatic Underwriting System (AUS) approval. Fixed rate loans only. W2 transcript option not permitted. APR describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate. The APR allows a borrower to compare costs of credit because it factors in term, interest rate and fees associated with the loan. Adjustable rate mortgages (ARMs) are home loans with a rate that varies. Your interest rate and monthly principal and interest (P&I) payments will remain the same for a defined initial period, then adjust annually when that initial period is over. During the adjustable period, there will be an interest rate cap that sets a limit on how high your interest rate can go. This product is primarily for a borrower with good credit (min 680 FICO) but a low Loan-To-Value (95% max). Debt-to-income ratios apply. Investment condominiums not allowed. Refinancing an existing loan may result in the total finance charges being higher over the life of the loan. Down payment assistance programs may require an educational class be taken. Down payment assistance programs are typically second mortgages that require the borrower to apply for a first mortgage. Testimonials appearing on this advertisement and Zillow, Yelp, Facebook, Twitter or other social media outlets are individual experiences of those who have used our services. Main Street Home Loans. does not provide incentives for testimonials or reviews. Any customer reviews on or before February 5, 2019 are for services performed prior to employment with Main Street Home Loans. MLO licensing information: DC MLO143670; VA MLO-740VA; MD 5762. Main Street Home Loans is a Division of NFM, Inc. NMLS 2893. NFM, Inc. is licensed by: DC # MLB2893; Virginia Mortgage Lender and Broker, Licensed by the Virginia State Corporation Commission # MC-2357; MD # 5330. For NFM, Inc.’s full agency and state licensing information, please visit www.nfmlending.com/licensing. NFM, Inc.’s NMLS #2893 (www.nmlsconsumeraccess.org). NFM, Inc. is not affiliated with, or an agent or division of, a governmental agency or a depository institution. Copyright © 2019.

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