Va Loan Lenders

Ellen Said:

How can I find a VA construction loan lender?

We Answered:

Are you a member of USAA? I know they hand VA loans. Most banks do as well, you will need to get your preapproval, I believe you can apply at www.VA.gov, they will send you a certified document stating how much you are approved for and then you take it to pretty much any lender. If you find a lender you like they will help you through the process and probably have a way to fast track it. Its pretty much the government co-signing on your loan, that they will repay if you default.

Tyrone Said:

FHA an VA lenders will not give a loan to buy my Condo, because over 50% is rented out. Can they do that?

We Answered:

To answer your question, YES they can. Both FHA and VA loans are for residential property's or Primary home. Because more that 50% of the condos are rented that means that most people are buying them for investment not for primary homes.
You might want to get a different realtor if you feel that your realtors is NOT doing anything to promote your home. Showing assets whether it be for a new homeowner or an investor. You need a realtor who know what they are promoting.

Leslie Said:

looking for a va loan lender in california ?

We Answered:

Contact your county Veterans Service Officer. They will have a list of banks currently making VA loans in your county.

Grace Said:

Do va lenders have to be approved by the VA?

We Answered:

To my knowledge yes.

Chad Said:

Past bankruptcy can I still use VA home loan?

We Answered:

Under a VA loan 100% is backed by the VA. The vet does not have to bring anything to the table except a few closing cost. In some instances if the Vet is smart negotiator he/she might be able to get away with paying nothing.

You have to find a mortgage banker or lender that does government mortgages. You might find one in your local telephone book or get a referral from a family member or friend.

As far as your bankruptcy is concerned if it is past 2 years since the filing date you should be ok. The older the bankruptcy is the better off you are. Lenders follow guidelines of the investors that they sell their loans to, thus the two year from filing date requirement.

If the bankruptcy still appear on your credit report you might be asked to write a letter of explanation as to why you decided to go into bankruptcy.

The mortgage loan application ask if you have been in bankruptcy in the last 7 years and further ask for an explanation.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Ella Said:

VA Loan Lenders - Help finding?

We Answered:

Ohhhh I would not have went through USAA, go find a local mortgage company that specializes in VA loans. When we bought our house in January using my husband's VA loan we used a local mortgage company and from the time we signed our contract to the time we closed was 21 days and that included 2 major holidays (christmas and new years). Also do not use USAA for your home owners insurance, they are very expensive. They quoted us 240 a month on a home owners policy, but a local company gave us the EXACT same policy for 80 dollars a month. The only thing USAA is good for is their banking and cheap car insurance. Good Luck

Matthew Said:

Do you actually have to live in a property when you are using a VA loan to purchase the home?

We Answered:

Absolutely. That loan is subsidized by the tax payers, it is for a home for you to live in, not an investment.

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