Complicated Terms, Simple Definitions: Residual Income
VA Home loans require that the residual income be assessed and analyzed.
Tag: va loans
What You Need to Know About Condos
Condos have their own set of regulations because lenders view them as a higher risk. Why? As an owner, you rely on other unit owners to maintain their places and pay condo association fees.If you plan to finance a condo and need a loan in Hampton Roads (like Virginia Beach or Norfolk) you need to know Read more about What You Need to Know About Condos[…]
VA Loans for First-Time Homebuyers in Virginia
On Wednesday, February 25, I tuned in for a webinar hosted by Navy Federal Credit Union called “Military, Millennials and Money.” The forum took place at the National Press Club in Washington, DC. As a lender who specializes in home loans for millennials and first-time homebuyers, it’s important I follow national trends and deliver the Read more about VA Loans for First-Time Homebuyers in Virginia[…]
How Much Can a Seller Contribute to Closing Costs
First-time homebuyers in Virginia Beach, Norfolk, and Chesapeake, often ask me: What’s the maximum amount a seller can contribute to the closing costs? The answer depends on the loan program. The chart below shows the seller contributions for conventional loans based on the down payment. Note: The chart only applies for primary and second homes. More seller Read more about How Much Can a Seller Contribute to Closing Costs[…]
Why You Should Consider a VA Loan
Money Market reported this week that “too many veterans are steered away from VA loans and some vets don’t even know about the program.” VA loans are great for people in Hampton Roads who are part of our military community. It doesn’t matter if you live in cities like Virginia Beach, Norfolk and Chesapeake. The VA Read more about Why You Should Consider a VA Loan[…]