Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2010 

In the last blog post we discussed the cost of VA appraisals and how fees vary from region to region. But VA appraisal fees also vary depending on the type of work done. The cost for a single family home isn't the same as the VA appraisal fee for a duplex or other property.In fact, the VA breaks ...
10/29/2010
VA loans require one very important step to move forward. When a buyer finds a home they want to purchase with a VA mortgage, they must have a VA assigned appraiser look at the home to establish fair market value. The appraiser comes and does the work, prepares reports and submits those reports t...
10/29/2010
In the last blog post there was much discussion of VA loans and the spouse of the VA borrower. Depending on when a VA loan applicant gets their first VA mortgage, it’s likely that one important question never comes up in the process, but it’s well worth asking anyway—even if it’s just to file the...
10/28/2010
The military offers additional pay and allowances for married military members, including more money for housing and with-dependent rates for cost-of-living allowances. The extra money isn’t the only perk available to married military members and veterans; there are also some advantages to being ...
10/28/2010
One of the best things about the VA home loans program is that it changes with the times. The Department of Veterans Affairs frequently issues press releases and announcements about changes to the VA home loan guaranty program; many changes are due to legislation, programs that have started or ex...
10/27/2010
A number of questions have come in recently about VA guaranteed loans for manufactured homes or mobile homes. Some people mistakenly believe mobile homes are not eligible for VA mortgages, but that is not true. Any manufactured home that meets VA standards is eligible for a VA mortgage. The buyer...
10/27/2010
Sometimes getting a property appraised can make for a nervous experience.. After all, VA home loan amounts depend greatly on the Notice of Value—if the fair market value of a home differs from the asking price, the final amount of the loan may not be as high as the borrower needs, forcing him or ...
10/26/2010
Property appraisals cost money, and it’s natural that a homeowner with a VA mortgage would want to plan for all expenses related to refinancing a VA home loan including the appraisal. But what VA refinancing loans require a re-appraisal of the property? For interest rate reduction refinancing loa...
10/26/2010
Did you know the VA establishes rules for loan repayment? While that may sound like a collection of regulations that hold the VA mortgage holder responsible for on-time payments, the VA also makes requirements for the lender. There are multiple reasons for this; standardization is one of them, ho...
10/25/2010
First time home buyers and VA mortgage applicants have a universe of new vocabulary to learn. It’s one of the “occupational hazards” of buying a home—there’s a lot to learn for the newcomer. Amortization is one of the terms new house hunters quickly learn once they get serious about buying a new ...
10/25/2010
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