Did you know that whereas FHA loans limit Seller contributions for Closing costs to 6% of the purchase price, with a VA Loan, the Seller can make not only 4% concessions towards Closing Costs but another 4% towards Veterans’ other costs including paying off consumer debt to allow the Veteran to qualify ? !
Our Free Class For Real Estate Agents yesterday, held at the SRCAR (Board) was a terrific success! Great feedback from Agents who said it was super informative! The topic was ‘Rules For Buying After Bankruptcy, Foreclosure or Short Sale’ For more information call 877-332-9703
FHA Mortgages offered through HUD are Government insured against default and therefore, because of the government cushion given to Lenders who make FHA loans, very attractive interest rates are available. Furthermore, just like for Veterans (VA Loans), FHA carries a special feature that’s not available for Borrowers who have loans backed by Fannie Mae or Freddie Mac (Conventional). This special……
The answer is yes, with some restrictions. The Veteran homebuyer has to live in/occupy one of the units as his/her principal residence. The Veteran homebuyer cannot use the rental income he/she will acquire from the other units, to qualify for the VA loan. The good news is that the VA Loan will finance 100% of the purchase price, even on……
How Long After Bankruptcy, Foreclosure, Short Sale Can I Buy a home?
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