Tim Storm949-829-1846TimothyS@arborfg.com NMLS #223456 · CA DRE #01086852
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Funding fees, closing costs, escrows, payment estimates, and clearly dated loan-limit guidance.
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The total amount of money needed to buy a home with a VA loan depends on several factors. Most Veterans know that VA offers 100% financing. But some assume that 100% financing means they will not need any money to buy a home. While it is definitely possible to buy a home using VA financing […]
The VA Funding Fee is a fee that is required in order to receive a VA loan.
The VA loan limits in Orange County for 2014 will be $687,500. The Veterans Administration recently announced the 2014 VA loan limits and many counties in California saw an increase due to the improved real estate market and higher home prices in 2013. While most of the country, including many counties in California, will continue […]
A common myth with VA loans in Orange County is that the seller is required to pay some or all of the closing costs on behalf of the Veteran buying the home. This is not true. As a matter of fact the seller is not “required” to pay anything for the Veteran. Sadly, this misconception […]
The VA loan limits in Orange County, CA were already at a high level in 2012. Effective August 6, 2012, the VA loan limits for 100% financing in Orange County has been increased from $621,000 to $675,000. The Honoring America’s Veterans and Caring for Camp Lejeune Families ACT of 2012 brought several changes to the […]
An impound account, also known as an escrow account, is required on VA loans for the life of the loan. The purpose of the impound account is to make sure the Veteran stays current on the property taxes and home owners insurance. The last thing anyone wants is a property tax lien, which could take […]
Good news for Orange County, CA Veterans as the Department of Veterans Affairs announced that the Funding Fee on VA loans will decrease. VA Circular 26-11-12, released on September 8, 2011, gives the breakdown of the decrease, which could save Orange County homes buyers using the VA loan program throusands of dollars, depending on the purchase price […]
The 100% VA financing loan limit in Orange County, CA for 2011 is $700,000. The limit is typically changed, either up or down, at the end of September of each year. And while Fannie Mae, Freddie Mac, and FHA loan limits in Orange County will all be dropping from $729,750 down to $625,500, the Department […]
If you’re looking at buying the home of your dreams
Home buyers in Orange County, CA using VA loan financing need to know how a property taxes and insurance impound account works. An impound account for property taxes and home owners insurance is required on all VA loans. Impound accounts, also known as a “escrow accounts”, are essentially a forced savings account held by the […]