VA Energy Efficient Mortgage

admin — Fri, 11 Feb 2011 05:47:42 +0000

An Energy Efficient Mortgage (EEM) has been a very popular product and one thousands of veterans take advantage of each year. There are numerous ways home buyers and current home owners can take advantage of this type of VA Loan. As their name suggests, EEMs are used soley with energy-efficient homes. However, many borrowers don’t realize they can get an EEM to buy a new home in addition to the standard VA refinance to make energy-efficient improvements to a residence. The exciting benefit, of course, is it will absolutely save money in the long run by cutting your monthly utility costs. Additionally, homebuyers and home owners can increase their homes’ marketability with such improvements. Saving money on utilities each month creates a productive cycle where borrowers save money that they can put toward their mortgage or other bills.

Here is VA’s guideline on EEM’s>>>

For EEM rates or more information, Inquire Here>>>

JUMBO VA LOANS – GET THE FACTS

admin — Tue, 13 Jul 2010 04:24:22 +0000

Imagine this – You need a Jumbo Loan and for any number of reasons, you need one with minimal or NO money down. You are working with a lender that has you believing an FHA Jumbo Loan is the only choice you have.

You’re not alone…and it’s not the only choice you have.

What most veterans don’t realize, on July 30, 2008, the President signed the Housing and Economic Recovery Act of 2008 which allows for a “Temporary Increase in Maximum Loan Guaranty Amount for Certain Housing Loans Guaranteed by the Secretary of Veterans Affairs.” As of 2010, this increase is still available, but no one knows for how long, which is the reason why I underline “Temporary”.

Basically, in short, veterans and current military personnel can get a zero down VA Loan over $417,000 in certain High Cost Counties around the United States. In fact, in some counties, you can actually get a zero down jumbo VA loan amount up to $1,094,625 and still with NO mortgage insurance!

Yet there are still so many veterans not taking advantage of this benefit they earned. Either they don’t know about it, they are working with a broker that doesn’t have much experience with VA loans (very common) or they are working with a broker that is not able to offer them (also very common).

With FHA’s mortgage insurance and Jumbo Conforming Private Mortgage Insurance “PMI”, if you are a veteran, VA Jumbo Loans should really be your only choice if you are looking to put less than 20% down.

Lastly, a common mistake made by veterans is to go with a broker they know, a realtor referral or simply, not do enough research. This could be a very costly mistake. Everyone knows that VA allows lenders to charge a 1% Origination fee. Of course, this can make a VA loan very pricey and often times deter the veteran from using their VA eligibility and taking advantage of the many benefits a VA Loan offers.

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VA Energy Efficient Mortgage

Here is VA’s guideline on EEM’s>>>

JUMBO VA LOANS – GET THE FACTS

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