Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2010 

Who needs a VA home loan? In my last post I promised to continue the series I started on VA loan basics, but a comment that came in on yesterday’s post on VA home loan basics got me thinking. It’s easy to assume that most of your VA home loan clients would come from a military base nearby if you ...
06/30/2010
Sometimes it’s good to get back to basics, so I thought I’d share how military house hunters can get a VA home loan. To begin with, let’s look at the nature of VA loans. Just as with FHA loans and the Department of Housing and Urban Development, the Department of Veterans Affairs does not issue l...
06/29/2010
While it’s true that this blog is primarily about VA home loans, I do like to veer off-topic from time to time to talk about issues that directly affect real estate agents, house hunters and sellers and other people in the industry affected by the issues of the day. My post on where to find new m...
06/28/2010
In the same way there are fees associated with VA home loans and buying a house with a VA guaranteed mortgage that the VA allows the buyer to pay, there are also fees the VA stipulates must not be passed on to the borrower. Attorney’s fees are just one example of the fees a lender or seller can’t...
06/25/2010
In past blog posts I’ve covered some of the fees VA home loan applicants should anticipate, including the lender’s flat fee, mortgage insurance, and closing costs. Different types of VA home loans may incur different types of fees, and some VA mortgages can require additional charges. One example...
06/24/2010
In the wake of the defective Chinese drywall controversy, the Department of Veterans Affairs asked lenders to offer VA loan forbearance and other assistance to those affected by the problem. Any homeowner who needs to replace defective drywall already faces a potential financial setback simply by...
06/23/2010
Recently, NPR and other news agencies reported a settlement in the first trial over defective drywall from China. According to the NPR report, a 2.4 million dollar settlement against drywall distributor Banner Supply Co. was awarded after a jury concluded the plaintiffs deserved compensation for ...
06/22/2010
New realtors may not realize that many parts of the country provide a lot of opportunities to serve a highly specialized real estate market with unique needs. If you’re in RE agent working in a state with a large military presence, you could find yourself in frequent contact with men and women in...
06/21/2010
When a first time home buyer wants to pre-qualify for a VA home loan amount, there are three basic pieces of important information to get the process started. It might seem a bit academic to require the state where the house hunter wants to buy, but a military member trying to make these arrangem...
06/18/2010
Experienced house hunters know getting pre-qualified for a VA loan is a smart idea—it saves a lot of time when the buyer knows exactly what their price range will be and what they can afford. Not having a specific amount (or at least a decent range of prices to work with) causes some to spin thei...
06/17/2010
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