Welcome to our Home, James! ® Ocean View Beach Homes & Condos Blog

We believe the California Riviera - extending along coastal San Diego and south Orange County - is the best place in the world to live!

WHO MAY POST ON THIS BLOG: We invite contractors, inspectors, lenders, title, escrow and others in fields related to real estate to post helpful articles, advice or comments to this blog. Go ahead and include reference to your website and contact information. We especially encourage enquiries from clients and prospects. Post your questions to this blog - or email or call us - and watch for a timely reply.

Remember, for anything "real estate" along the entire California Riviera from Orange County to the Mexican Border just say, "Home, James!"

SCROLL DOWN TO VIEW POSTS

* If you have a subject of interest, try SEARCH - we already have thousand posts and abundant content on home improvement and maintenance, systems, landscaping, "green" energy efficiency, tax credits and deductions, finance, insurance, and many others! Chances are good that you will find exactly what you need to know. Go ahead, Search!*

Search This Blog

Monday, September 22, 2008

VA Loans Still Don't Require Down Payment

From Realtor Magazine Online, Daily Real Estate News September 22, 2008

The U.S. Department of Veterans Affairs, whose loans remain one of the few no-down-payment options in this tight market, have made more than 162,000 home loan guaranties this year, an increase of more than 31 percent over the same period last year.

The VA has tried to streamline the loan process by allowing veterans to apply for a loan before they obtain a VA Certificate of Eligibility.

Once the borrowers have demonstrated that they are otherwise eligible, lenders can access the program's Web portal to use VA's online Automated Certificate of Eligibility (ACE) system and obtain the certificate for the veteran.

Many times, lenders can receive the certificate within seconds. The VA can process the application in less than 24 hours.

VA-guaranteed home loans are made to eligible veterans, service members, and surviving spouses through private mortgage lenders throughout the United States.

Source: U.S. Department of Veterans Affairs (09/21/2008)
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)