VA Loan Requirements & Eligibility for Orange County Veterans
Understand the VA loan requirements and what affects eligibility for a VA mortgage. Requirements set forth by the VA and VA lenders are discussed.
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How the Tax Impound Account Works on VA Loans in Orange County, California
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 […]
VA Home Loans versus CalVet | Which is Better for California Home Buyers
There are several differences between the VA home loan program and the Calvet home loan program. California veterans should take time to learn about both programs to determine what is best for them. There are times when the Calvet program is better and other times when the VA home loan program is better. Below are […]
Orange County VA Home Loans After Foreclosure or Short Sale
Orange County Veterans who have had a short sale are able to purchase a home with $0 down immediately after the short sale. Veterans who have had a foreclosure need to wait two years. VA is relatively flexible in how they look at foreclosures and short sales, compared to FHA and Fannie Mae. Short Sale […]
Orange County VA Loans | Seller Concessions vs Closing Cost Credit
Orange County VA loan borrowers need to understand the difference between Seller Concessions and a Seller Credit for Closing Costs. Most loan programs will allow for the seller to pay some or of buyers closing costs, but VA goes a step further. VA allows for Seller Concessions. What is a Seller Concession? According to the […]
VA Home Loans Remain Unchanged for Orange County Borrowers
While other loan programs continue to go though multiple guideline changes, the VA loan program has been mostly unchanged for Orange County VA home loan borrowers. FHA and Fannie Mae have recently tightened their guidelines. VA has not. FHA and Fannie Mae Tighten Condo Financing Guidelines FHA and Fannie Mae recently tightened their guidelines for […]
How to Buy a Home in Orange County with $0 Out Pocket with a VA Loan
It is possible to purchase a property in Orange County with no money out of pocket if your eligible for a VA loan. Commonly referred to as a VA NO NO, with a little negotiating, it can be done. What is a VA NO NO? VA refers to the Veterans Administration, which offers 100% financing […]
Orange County VA Home Loan Limits for 2010
The Veterans Administration recently announced the VA 100% financing loan limits for Orange County, and the limit was reduced. In 2009 an Orange County VA eligible home buyer could purchase a home with $0 down up to a price of $737,500. In 2010 the limit has been reduced to $593,750. The reduction on the loan […]
Orange County VA Loans | First Time Buyer Tax Credit Extended for Armed Forces
Orange County, CA First Time Buyers using VA financing will be pleased to know that the First Time Home Buyer Tax Credit has been extended. For most home buyers, the tax credit has been extended through June 30, 2010, as long as the purchase contract has been signed by April 30, 2010. But for members […]
Orange County, CA First Time Buyer Uses VA Loan for $0 Down Purchase
VA is one of the only programs currently available that offers 100% financing for Orange County home buyers. Last month, Michelle Tucker, a single VA eligible homebuyer, took advantage of her VA eligibility and purchased her first home in Santa Ana, CA for $375,000. She had no down payment, and the seller paid all of […]