Module 6: Nontraditional VA Mortgage Programs, Part 1

Slides:

Advertisements

Similar presentations

VA Guaranteed Home Loan Program To care for him who shall have borne the battle, and for his widow and his orphan. Abraham Lincoln, 1865 To care for him.

Advertisements

VA Loans The Basics. Who Qualifies for a VA Loan? Active Duty Service Members Veterans National Guard Reserves ***Subject to time on duty ***

Chapter 10 The Borrower. Learning Objectives Describe the borrower characteristics that are important to loan qualification Describe the steps involved.

Chapter 14 Mortgage Default Insurance, Foreclosure, and Title Insurance.

Home Buying Process Financial Options. Objectives Define the Four “Cs” of the Loan Process Determine How Much You Can Afford for a House Calculate Front-End/Back-End.

UNDERWRITING AND FINANCING RESIDENTIAL PROPERTIES Chapter Objectives

© 2005 The McGraw-Hill Companies, Inc., All Rights Reserved McGraw-Hill/Irwin Slide 1 1 CHAPTER EIGHT UNDERWRITING AND FINANCING RESIDENTIAL PROPERTIES.

© 2005 The McGraw-Hill Companies, Inc., All Rights Reserved McGraw-Hill/Irwin Slide 1 CHAPTER EIGHT UNDERWRITING AND FINANCING RESIDENTIAL PROPERTIES.

Credit History Credit Scoring Lenders Require a Three bureau merged Report – Experian, Trans Union, Equifax Alternative Credit – Rental History Credit.

Interest Rate Trends What History Tells Us About Real Estate Loans.

VETERANS INFORMATION SEMINAR. WELCOME AND INTRODUCTIONS.

Loan Type Comparison FHA, VA, Conventional, and RD.

VA Benefits Briefing This document contains U.S. Department of Veterans Affairs proprietary business information and may not be reproduced without permission.

VA Guaranteed Home Loans Contact Information National VA website: Roanoke VA website: Toll.

Chapter 08: Underwriting and Financing Residential Properties McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.

HOME MORTGAGE PROCESS: QUALIFICATION AND ORIGINATION Angelica L. Smith Spring 2011.

VETERANS BENEFITS ADMINISTRATION Phoenix Regional Loan Center.

Default risk –LTV –PI ratio –Mortgage insurance PMI (up to 97%) FHA (up to 100%) VA.

Chapter 4 Lecture 3 Tax Planning and Strategies. Individual Income Tax Formula Total Income (everything received) - Exclusions/Tax-exempt Income_______________.

FHA/VA Government-Insured Loans [Mike Mulgrew] [May 2010]

McGraw-Hill/Irwin ©2008 The McGraw-Hill Companies, All Rights Reserved CHAPTER8CHAPTER8 CHAPTER8CHAPTER8 Underwriting and Financing Residential Properties.

Chapter 08: Underwriting and Financing Residential Properties McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.

Financing Residential Real Estate Lesson 12: VA-Guaranteed Loans.

USDA, FHA, VA and Conventional Training. Use for:  Questions about program guidelines  Review a 1003 & Credit to see if the borrower(s) will qualify.

Realizing the American Dream

MSHDA’s Mortgage Programs MI First Home and MI Next Home.

CH 16 Residential and Commercial Property Financing.

© 2012 Cengage Learning. Residential Mortgage Lending: Principles and Practices, 6e Chapter 8 Government Lending.

Chapter 16 Residential and Commercial Property Financing This chapter examines the legal framework that facilitates the real estate lending process. Real.

Realizing the American Dream Are You Ready to Buy a Home?

1 Selecting the Type of Loan Based on Mortgage Loan Insurance n FHA - Federal Home Administration n VA - Veterans Administration n Conventional Based on.

USDA RURAL DEVELOPMENT WHAT IS RURAL DEVELOMENT? Census-based Census-based US Department of Agriculture US Department of Agriculture Guaranteed against.

City of Billings First Time Homebuyer Programs Yes! It can be used in combination with Section 8 assistance and other down payment assistance programs!!

USDA Rural Housing. What is Rural Development? The Rural Housing Service (RHS) program provides very-low, low and moderate income residents with better.

Briefer: SFC Dombeck, Esq. References VA Pam VA Pam VA Pam 26-5 VA Pam

Single Family Housing Programs Joyce Allen Deputy Administrator for Single Family Housing September 26, 2015.

© 2012 Rockwell Publishing Financing Residential Real Estate Lesson 12: VA-Guaranteed Loans.

1 Making Home Affordable April 2009 | Making Home Affordable.

Chapter 17 Cal-Vet Loans (California Example). An additional type of government sponsored financing is available to California veterans. In 1921, the.

Chapter 11 Government Programs: FHA and VA Loans.

The Benefits of Refinancing Your VA Loan Many homeowners find themselves in possession of a home loan acquired several years ago that has a higher interest.

US Small Business Administration Acquisition Financing Program SBA 7a Program For Profit US Businesses Only Maximum loan amount of $5,000,000 Loan proceeds.

Portfolio Lending Programs. Introducing the Portfolio Lending Suite We’re pleased to introduce you to our suite of Portfolio Lending products. Each is.

Portfolio Lending Programs INSERT LOGO HERE. Introducing the Portfolio Lending Suite We’re pleased to introduce you to our suite of Portfolio Lending.

A Glossary of Terms for VA Loans. Appraisal – Appraisals are professional evaluations of the fair market value of the property being purchased.

VA Loan Arizona

THE KEYS TO HOME OWNERSHIP UNLOCKING THE DOOR TO YOUR DREAM Your Logo Here Presented By:

FOR VA HOME LOANS DISQUALIFICATIONS Understand the disqualifications for a VA loan, so you know whether this type of loan will work for you.

Honoring Our Nation’s Heroes

Residential Financing

LenderSelect Mortgage Group The Benefits of Buying

Mortgage 101 Training for The ________ Team

DC Open Doors July 2015.

Finance Lesson Five.

Module 7: Nontraditional VA Mortgage Programs, Part 2

Module 5: Types of Mortgage Fraud Schemes

Low Down Payment Options

USDA Rural Development

WHAT IS A VA MORTGAGE LOAN?

Honoring Our Nation’s Heroes

Portfolio Lending Programs

VA Native American Direct Loans

Celtic Express Loans Product Overview

Veterans Benefits Administration

Unit 5: Personal Finance

Veterans Affairs Mortgages

Ability to Repay/Qualified Mortgage Rule

Portfolio Lending Programs

CCM Product Guidelines

Presentation transcript:

Module 6: Nontraditional VA Mortgage Programs, Part 1 8-Hour SAFE Comprehensive Continuing Education

Module 6: Nontraditional VA Mortgage Programs, Part 1 6.1 VA Benefits - Home Loans Contributions of the GI Bill to Real Estate Benefits of VA-Guaranteed Loans VA Loan Amounts Guaranty Amounts

Module 6: Nontraditional VA Mortgage Programs, Part 1 6.2 VA Requirements Determine Eligibility Wartime Service Gulf War Peacetime Service Peacetime Service After 09/07/80 (enlisted) or 10/16/81 (officer) Selected Reserve or National Guard Others Who May Be Eligible Certificate of Eligibility Qualifying Property Minimum Property Requirements

Module 6: Nontraditional VA Mortgage Programs, Part 1 6.3 VA Underwriting Guidelines Employment and Income Stability Credit History Residual Income and Qualifying Ratio Residual Income Debt-to-Income Ratio Underwriting VA Loans with Nontraditional Credit Examples of Underwriting Deficiencies

Module 6: Nontraditional VA Mortgage Programs, Part 1 6.4 Interest Rate Reduction Refinance Loan Eligibility for an IRRRL IRRRL Application Process IRRRL Loan Limits VA Funding Fee