Posts By Brian Brady
Location
2010 Jimmy Durante Blvd #220,
Del Mar, California 92014
Phone: 858-777-9751
Posts
N.B: On the day before I published this, HR 674 passed, reverting the funding fee amounts to the “old” levels. It was updated in VA Circular 26-11-19, published November 22, 2011. The “new” lower funding fee schedule was in effect for three days, from Nov 18-21. Sorry for the confusion. If you served in our [...]
Jumbo mortgages are usually made by private lenders and are not guaranteed by a government agency. In San Diego County, loans over $417,000 are considered to be “jumbo”. Congress has extended a government guarantee, to some jumbo mortgages, for higher loan limits, in San Diego, Orange, Ventura, and Los Angeles counties. This means that low-down [...]
A real estate agent asked my opinion about how a federal government shut down might affect FHA mortgages and VA Home loans. Bear in mind that my answer to ger is my opinion only: VA home loans are insured by the Veterans Adminsitration which receives its annual appropriation in advance. As such, most veterans services, [...]
Debbie Rumsey, a REALTOR in Encinitas, CA commented that buyers with VA home loans face increased scrutiny from sellers and their agents, on an article I wrote about VA condo complex approvals: Thanks Brian! I have bookmarked this for a place to refer back to when using VA loans. The hardest part so far seems [...]
A San Diego veteran asked me “ How many people can “go on” a VA home loan?” today. The borrowing veteran and his/her spouse can be borrowers for a VA home loan. The veteran and her fiancee can not. The service member and his girlfriend can not. Only spouses can be co-borrowers on a VA [...]
The Veterans Administration amended the suspension of accepting the HUD condo approval for VA financing (suspension instituted last September). Monday, May 17, 2010, they amended that suspension. VA will now accept: FHA condo approvals dates prior to December 7, 2009 are accepted by VA FHA condo approvals dated after December 7, 2009, or phases of [...]
We’ve talked about seller contributions towards closing costs but did you know the seller can pay off a veteran’s debt to qualify? The seller contribution is limited to 4%. Typical VA closing costs in San Diego total about 2-3 % of the selling price; that “extra” 1-2% could be used to “buy the rate down” [...]
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