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Opinion: The pros and cons of VA modernization bill

Housing Wire

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. While I’m a fan of improving antiquated systems, I first wonder if the VA, the MBA, or Congress were open enough about the problems with the current system.

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First-Time Homebuyer Loans & Programs

Point2Homes

The FHA also guarantees your loan through this program, allowing lenders to accept borrowers with lower credit scores. If you’re a current or former service member, you can benefit from the VA loans program, in which the U.S. VA loans are one of the few $0 down payment loan programs, along with USDA loans.

Loans 144
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Low Appraisal on Your Home? A Reconsideration of Value Might Save the Sale

HomeLight

The ROV process is different for VA loans. When the buyer is financing with a VA loan, the appraiser must notify the lender if she suspects the appraisal will come in low. This is called invoking the Tidewater Initiative and allows buyers to challenge a low appraisal before it is official.

Sales 86
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From Contract to House Keys: Breaking Down the House Closing Process

HomeLight

Conventional loans closed in an average of 47 days in July 2021, while FHA loans took 51 days, and VA loans required an average of 52 to close. Step 4: Submit the loan application officially. While you may have been preapproved for your loan, that doesn’t mean you’re done getting a mortgage.

Closing 80
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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

Collinge explains it’s best to first submit your electronic bid, and if it’s accepted, have a professional inspect the house during the 15-day due diligence period , before signing on the dotted line on the settlement date. Talk to your agent and a licensed loan officer to explore your options).

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Count the Closing Costs: A Line-By-Line Guide to Closing Costs With A Mortgage

HomeLight

VA funding fee. To offset the cost of administration, VA loan borrowers must pay a fee at closing. of loan amount. Home inspections are an important part of the due diligence process in which the property is carefully looked over by a professional. This fee ranges in cost, depending on your down payment.

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The Ultimate Guide to Buying a House in Colorado

Redfin

Property disclosures are typically provided to buyers during the due diligence period. There are a few loan programs available that offer 100% financing, which means no down payment is required. Another option is the USDA loan, which is designed for borrowers in rural areas and also offers 100% financing.