Several federal agencies have properties to sell. In fact, HUD sells both single family homes and multifamily properties. Check them out- one might be just what you’re looking for!
Single Family Homes for Sale
Several federal agencies have properties to sell. In fact, HUD sells both single family homes and multifamily properties. Check them out- one might be just what you’re looking for!
Single Family Homes for Sale
Expands VA Home Loan Eligibility for Certain National Guard Members in Kentucky
VA announced they are expanding eligibility for Kentucky VA home loan benefits for certain members of the Kentucky Army and Air National Guard to include current and former National Guard members, regardless of service dates, who meet the requirements outlined below effective for COE applications received on or after 01/05/2021.
Because VA is retroactively expanding these eligibility requirements applicants who may have been previously denied VA home loan benefits and now meet the requirements below for eligibility are encouraged to reapply.
To be eligible the member must have performed not less than 90 cumulative dates of full-time National Guard duty, of which, at least 30 of those days must have been consecutive.
Full-time National Guard duty:
Processing delays can be avoided when submitting a COE application (VA Form 26-1880) by listing in block 9c any active duty time served and by providing copies of one or more of the following documents as evidence of the active duty time served:
VA loans help active duty, reserves, and veterans buy a house with no down payment and no mortgage insurance monthly making it one of the best loans out there while getting a low 30 year fixed rate loan based on market trends.
VA loans are not just for first-time home buyers, and they’re not restricted to low-income applicants. Here are the requirements you’ll need to meet to qualify for an VA loan
In general, lenders want to see that you’ve worked for a year or two in the same field (if not the same employer). Consistent two year history needed, does not have to be same employer.
The biggest factor in qualifying for an VA loan is whether you can afford the payment. As a rough guideline:
There is no minimum credit score for VA loans, but in reality most lenders will wants a 620 score. However, we deal with some lenders that will go down to a 560 credit score but be prepared to get a lot of documentation to support your lower credit score.
Every once in a while, bad things happen to good people. Whether credit issues result from financial mismanagement or other circumstances, VA home loan guidelines are very forgiving. So, how long after a foreclosure, short sale, or bankruptcy can you get a VA loan?
A key VA home loan requirement after major credit events like these is re-established credit. Therefore, showing on-time rent and other credit references may show recovery from a foreclosure, short sale, or bankruptcy.
For lower credit scores on VA or any other type of mortgage loan, rent or mortgage history is very important. A previous housing history is a good indicator of how someone will pay a new house payment. So lenders take rent very seriously. The most weight is given to a rent history proven by cancelled checks. Then a buyer proving on time payment history through checks shows the buyer is the one who actually made the payments. Plus it shows they were made on time and there is no disputing this. Next, rent payments verified through a rental company is good. The weakest would be rental payments made to an individual. In cases where payments are made to individuals, additional documentation may be required. For instance, cancelled checks or proof of withdrawal from a bank account for 12 months would help.
Keep in mind, using alternative credit is not a way to ignore a bad credit report or score. Alternative credit is a way of proving a more solid or in depth payment history than the credit report shows.
We will request your COE, status report, complete your application, and discuss your mortgage options. Our goal is to have educated, confident, and approved buyers!
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