Tips To Get The California Va Mortgage Loan [mortgageprotectiontips.blogspot.com]
Question by Tomas Mora: Does Wells Fargo modify VA mortgage loans? Can a VA loan even be modified? Best answer for Does Wells Fargo modify VA mortgage loans?:
Answer by kemperk
unless I am mistaken, banks make loans, the fed insures them. IF I am correct, the bank can modify anything that you and the bank agree on modifying.
Answer by linkus86
YES VA and FHA loans can be modified, but not by the lenders. Instead you need to call VA or FHA who insured the loan and they will bend over backwards to help you avoid foreclosure in various ways. Remember, if you default on the loan, it will be HUD who ha to pay off the loan for you so they have a real interest in you continuing to pay. So few people are aware of this fact but was one of the reasons I opted to go with a federally insured loan when I bought my first house.
Answer by VA Mortgage Leader
Yes, you can modify your loan. Contact the Department of Veterans Affairs as they may have additional programs and benefits available to you that other loan programs do not offer.
www.unmco.com Who is Eligible for a VA Home Loan? Military veterans with honorable active duty service from World War II to the present may apply for a VA home loan. Those who served during World War II, the Korean conflict, the Vietnam era and the Gulf War must have performed 90 days of active service to be eligible. Minimum service requirements for other veterans and active duty military personnel range from 180 days to two years. If you have specific eligibility questions or need a Certificate of Eligibility, contact us today for assistance.
mortgageprotectiontips.blogspot.com VA Mortgage Loans for USA Veterans
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VA loans for California veterans are sponsored by the Veterans Administration. This loan offers the lowest interest rate possible so you can obtain enough financing to cover the complete cost of your new home. In most situations, a California VA mortgage is the best loan you can get for your money. If you are looking into working with a certain lender who tells you that VA mortgage rates in California are not the finest you can get, it could be in your best interest to look into a different lender. If you want tips to get the California VA mortgage loan, you are in the right place.
The first thing you must realize is that the amount you are approved for is based on your credit score and your debt-to-income ratio. You already know that the higher your credit score is, the more likely you will be approved for a pleasingly low rate. VA loans for California veterans are often given to those who have served in the armed forces and currently have a debt-to-income ratio of less than 41%. As this calculation is made by the lender considering what VA mortgage rates in California to offer you, everything from car loans and credit card debt to student loans and any other notable debt is taken into account.
To help you qualify for the best VA mortgage rates in California, the most important thing you can do is improve your credit score. This is done in a number of ways, such as paying off outstanding debt on your credit cards, making sure all your other debts are caught up and in good standing, and refraining from opening new credit cards just before you plan on applying for a California VA mortgage. By doing these things, you will have a better chance of qualifying for VA loans for California veterans.
The reasons why you should try so hard to qualify for VA loans for California veterans are because the benefits are many. Since you can finance as high as $ 417,000, you could get into your new house with no money down, as long as you have served a minimum of 181 days in the military. Also, unlike other forms of loans, a California VA mortgage does not require you to have mortgage insurance. VA mortgage rates in California are the lowest you will find, so if you have served, take advantage of your qualifications and get approved today. Recommend Tips To Get The California Va Mortgage Loan Topics
