Great Questions: If you are paying a Mortgage Insurance Premium (PMI) every month, then you likely attained a Conventional Loan with less than 20% equity in the property ... more
It really depends on the appraiser. Most appraisals are coming back in 7-10 days but I have had 2 VA appraisals in the last 8 months that took 30 days!
If the turn a ... more
Using your example, here is how a VA 2nd tier entitlement would work.
What if it's a VA loan of, for example $210,000 on a $250,000 unit. I bring $40,000 DP plus my V ... more
This will not give you additional options as the loan is all based on the lower of the appraisal or the purchase price. The option you have with this scenario would be to ... more
We have a few different programs. One is our "2nd Chance" that has no waiting period after Short-Sale and another more traditional (fixed options) Jumbo loan that requires a 4 ... more
VA mortg ... more
I would say yes from what I am reading in your question. I would lender and also get counsel from a real estate attorney to get the best advice on how to move forward. You r ... more
This is an old question, but many are asking it. The general rule from my lenders is 2y years for an FHA mortage unless there are extenuating circumstances that can be consider ... more
Good answers below. there are some conventional programs available now with 3% down and no MI. The market is fluid and these programs change from time to time and have certa ... more