bdnationwidemortgage.com

bdnationwidemortgage.com
VA loans are one of the few remaining true 100% programs still available in the market today. This is an incredible assets since the financial meltdown of 2007-2008 has left this area of the market with a vacuous void.
These Loans allow the buyer to finance not only 100% of the purchase price, but also the VA funding fee as well. Therefor the total loan amount can be higher than 100% LTV of the appraisal or purchase price! The seller can pay up to 4% of the buyers recurring and non recurring closing costs. This means that with a VA Loan in Florida one can get into a home with no money out of pocket at all!
Another great feature of these loans is that they allow for extra money to add green features to your new home to be financed into the loan as well. You should speak with a loan professional about exactly how this is accomplished. This allows you to save money while also improving the eco-friendliness of your new home.
bdnationwidemortgage.com

Veteran loans do not require any mortgage insurance. Instead they have a VA funding fee which as mentioned earlier is typically financed into the loan for you. The fact that there is no mortgage insurance coverage will save you hundreds of dollars monthly over conventional or FHA financing which would require that the borrower carry mortgage insurance on the loan. The more money one can keep in their pockets in these tough times the better it is for everyone!
How do you know if you qualify for a VA Loan? That is a great question. Here is a brief summary for you to consider if you may qualify:

Veterans who served on active duty and have a discharge other than dishonorable after a minimum of 90 days of service during wartime or a minimum of 181 continuous days during peacetime.

2 years requirement if the veteran enlisted and began service after September 7, 1980 or was an officer and began service after October 16, 1981

6 year requirement for National guards and reservists with certain criteria and there are specific rules concerning the eligibility of surviving spouses

If you are now on regular duty (not active duty for training), you are eligible after having served 181 days unless discharged or separated from a previous qualifying period of active duty

If you are an unremarried spouse of a veteran who died while in service or from a service connected disability

If you are a spouse of a service person missing in action or a prisoner of war

A surviving spouse who remarries on or after attaining age 57, and on or after December 16, 2003, may be eligible

bdnationwidemortgage.com
We highly recommend the VA loan to all those who qualify. As you can see this loan product will allow you purchase a home with no money out of pocket and will save you hundreds monthly with it's lack of mortgage insurance coverage. This is just one option for clients still looking for 100% financing in Florida.

bettermortgagerefinancing.com

bettermortgagerefinancing.com
What Does A mortgage Planning Specialist Do?
The mortgage planning process is different than "Simply Shopping" for a Mortgage, it is about your over all financial well being and is not the traditional buyers approach of...Spending hours shopping over the phone and the web trying to save a couple of bucks a month or a few dollars in closing costs only to find out at the closing table "there Was Really No Guarantee" just an estimate. Wasting your valuable time 'Supervising" the mortgage company you've reluctantly chosen to work with trying to get your deal done. Trying to figure out if this great product is good for you or great for the lender.
The Mortgage Planning Process is also a Relationship Process and It's "All About You." You will be given access to valuable financial advice and guidance that can literally save you hundreds of thousands of dollars. Will be working with a trusted professional who is committed, qualified and equipped to deliver what they promise. Will experiencing a premium level of service whether you are in the market to buy a home, refinancing your mortgage or making cash flow changes to enhance your lifestyle. Will evaluate your mortgage and debts in a defined financial plan of action in helping you achieve your life style goals and dreams. Can establish an ongoing high trust relationship with a team of financial advisors who can help you make necessary changes in your debt, cash flow and home equity planning strategies. This is a relationship process, not just a transaction or closing. As such, The Mortgage Planning Process will include the following procedures and steps.
bettermortgagerefinancing.com

Establishing a client-planner relationship. Mortgage Planner Should: Ask you for information about your financial situation and your time frame for results and success. Gather all the necessary documents before giving you the advice you need. Clearly explain or document the services they will provide to you. Explain how they will be paid and by whom. Mortgage planners are typically compensated through a commission structure set up with the lenders they work with. You Should: Be candid, clearly explain how financial decisions are made in your household and include all the key decision makers in consultations with your mortgage planner. Be prepared to share personal and financial information with your mortgage planner in order for them to be able to advise you on how best to achieve your goals.
Evaluate your current financial status. Your mortgage planner should analyze your information to assess your current situation and discuss with you options for meeting your goals. Depending on what services you have asked for, this could include analyzing your credit situation, real estate equity, debt situation and cash flow.
bettermortgagerefinancing.com

Developing Mortgage and Debt Management recommendations and alternatives. The mortgage planner should offer mortgage planning recommendations that address your goals based on the information you provide. The mortgage planner should go over the recommendations with you to help you understand them so that you can make informed decisions. The mortgage planner should also listen to your concerns and revise the recommendations as appropriate.
Implementing the mortgage planning recommendations. You and the planner should agree on how the recommendations will be carried out and as "Your Coach" the mortgage planner will coordinate this process with you and other professionals such as CPAs, CFPs, attorneys, Realtors, builders, insurance professionals and other qualified advisors.

beaconfinancialinc.com

beaconfinancialinc.com
VA Improved Pension Benefit
If you haven't heard of it, you are not alone. Currently there is a ground swell effort to inform veterans about this benefit. The Governor of Illinois felt it was such a serious situation that he created a non-profit corporation to work with other corporations, service groups and individuals like us, to get the word out and to educate Veterans and the families on this benefit. There are about 22 million veterans in the United States and about two billion dollars of benefits that go untouched every year. And a lot of it has to do with the fact that people just don't know that the benefits are available. They don't know that they qualify and they don't know how to apply.
You'll notice that it says "Aid & Attendance and Housebound". The power of this benefit is that it provides extra income when you need it most, when you health changes and you need care. How many of you have helped care for a loved one? How many of you know someone who has lost just about everything because of the cost of care?
You know when this benefit was introduced in 1952; long-term care wasn't such a big issue. Families stayed close. Not so many children went away to college, and then farther away for their careers. Things were pretty simple.
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Now families are busy, busy. Children are scheduled in soccer, gymnastics, ballet, t-ball, so many events that they eat supper on the road, order meals by numbers "I'll have a #2 meal super-sized" and it's a different world.
So now, long-term care cost is a fact of life. We can't rely on family. And most of us, being really honest would rather NOT have a family member help us with those really personal care needs.
So would extra money help your family when you need care? Sure! Most of us are not going to turn it down, especially when you've already earned it. That's why the Improved Pension Benefit is so important.
Qualifications for Veterans & Widows
So people ask, "What are the qualifications for this benefit?" The first qualification is a discharge from military service that is anything BUT dishonorable.
The veteran must have served at least 90 days of active duty with at least ONE day served during a declared state of war. Now you did not actually have to be in combat. As an example, you could have been a clerk in San Diego harbor, and never left US shores. As long as you had 90 days active service, you did not have a dishonorable discharge and one day was during wartime, you qualify on those points.
Finally, you have to be totally disabled, OR age 65 and older. This benefit has been on the books since 1952 and one of the reasons Veterans didn't take advantage of it was that they thought you had to be disabled. Let's take a look at this benefit. It is a pension. At what age do we generally qualify for a pension? The age we start receiving a pension is when we hit retirement and that is usually at age ....??? Right, 65! So it makes sense that if you are 65 or older, then you qualify for the pension, because of your age. It doesn't matter that you are not disabled.
Declared States of War
The next thing people want to know is, "What are the Declared States of War?" How many of you were in the Korean War? You will remember that during the Korean War, it was called a Police Action, an advisory thing, right? Vietnam was that way, too. However, for benefits related to Periods of War, these are the dates and events recognized by the Department of Veterans Affairs. These are the wars that count for this benefit.
Mexican Border Period 1916-1917
WWI 1917 - 1921
WWII 1941 - 1946
Korean War 1950 - 1955
Vietnam War 1962 - 1975
Gulf War 1990 - . . .
DVA Improved Pension 2008
beaconfinancialinc.com

So people want to know, "How much money are we talking?" Here are the pension amounts for this year. Now there are different amounts if you are Housebound, and there are amounts if you are simply low income. For now, let's look at the numbers for Aid & Attendance. When you need Aid & Attendance, you are typically in a facility. Your costs of care are the greatest. Your need for extra money is the greatest. AND the pension benefit is the greatest.
If you are a couple, Veteran and Spouse, and one of you is receiving care in a facility, you could receive up to $22,113 per year, TAX FREE. So how would an extra $1842/month help with you care costs? Would you want the money that your service earned? Sure you would.
For a single veteran, it could be up to $18,654/year, or over $1554/month, TAX FREE.
For the surviving spouse of a veteran, it's up to $11,985/year, or /$998/month, TAX FREE.
This benefit is available every year you continue to receive Aid & Attendance in a facility. There is a Cost of Living adjustment every year that reflects the increase in Social Security. It's normally, about 3%, this year it was 2.3%.
It is a Means Testing program, which means they look at both your Income and your Assets. Now at this point, people will look at each other and say, "Oh we have too much income and assets to qualify." But there are two important things to know, that can make all the difference.
First, your out-of-pocket medical expenses are deducted from your income. When your health and lifestyle change and you need care and assistance, there can be substantial expenses, and these are deducted from you income.
Second, the VA counts your assets as of the date of the application. So, you can create an estate plan and reposition your assets before the application.
Income Testing
Let me share with you my favorite couple Roy and Dale. You remember them. They had a
named, Bullet, a horse named Trigger, a friend named Pat who had a Jeep named....Does any know the name of Pat's Jeep? It was Nelly belle. How about Dale's horse, do you know her horse's name? It was Buttermilk. They were my favorite couple when I was growing up. I used to watch their program all the time and knew that Roy, in his white hat, would always get the bad guys in their black hats.Now Roy and Dale are very comfortable, 2500 dollars in income each month. Everything's paid for. Life was good. But then Roy falls off Trigger and breaks his hip. He goes to Happy Trails Care Facility. His expenses for facility care, medications, health insurance premiums total $3200/mo. Now life is not so good. They are spending $700 more each month than they have coming in. Where do you suppose that extra money is coming from? Right, their savings! Their income is upside down and they are burning through their assets quickly.
So here is an example of a couple going from having plenty of income, to losing money because of a simple fall, change in health and need for Aid & Attendance. Roy was a veteran and his service has earned him the Improved Pension Benefit, they would qualify for $1801.25 per month. Would that make a difference in their lives? Could it save the drain on their estate? Absolutely!
Asset Testing
Now, it is also means tested for Assets. Whatever you have titled in your name will be counted with the exception of your house and car as long as one of you is residing in the house. This is the opportunity to put in place the estate planning that you've been putting off. You can put things in place so your assets are controlled by family; and you know that things will still go the way you want, without losing them. With the VA, there is no look back period. It is very important to have everything properly titled and positioned before you make application for the benefits, so be sure to consult with a professional.
beaconfinancialinc.com

Documents Needed
Sometimes people have misplaced their discharge papers. Some people call it their military jacket, others refer to it as the DD214, and still others call them separation papers. It may be that you don't know where these papers are. Don't worry, you can apply for duplicates and it takes about 4 weeks for them to arrive. Other forms needed are the Marriage Certificate and a Death Certificate if the veteran is deceased. These just take some time to get from the county or state departments. They do need to be certified copies and that can be done at the courthouse in most places.
If you need to do some estate planning for you assets, that takes a little time. So by the time the documents arrive, you'll have things in place and be ready for the application process.
When you send in the completed application, the first thing the DVA does is time stamp it, enter it into their system and assign a case number. That's important, because the time stamp is the date counted for your first benefit payment. It may take up to six months for the application to be processed. But when it's processed and approved, the DVA will go back to the time stamp on the application, and send a check retroactive back to the date the application was entered into the system.

bestrate.com

bestrate.com
The new Patriot Express loan is offered by SBA's network of participating lenders nationwide and features our fastest turnaround time for loan approvals. Loans are available up to $500,000 and qualify for SBA's maximum guaranty of up to 85 percent for loans of $150,000 or less and up to 75 percent for loans over $150,000 up to $500,000. For loans above $350,000, lenders are required to take all available collateral.
The SBA has many programs targeted to assist economically and socially disadvantaged individuals, and to help rebuild economically depressed or hurricane shattered communities. According to Joel Szabat, the SBA's Chief of Staff, "The SBA has only one set of programs designed to help people, not for who they are or where they live, but for what they done.
bestrate.com

These are programs the SBA has established to serve those who have taken up arms and risked their lives for our country."
Patriot Express was recommended to the President by the task force of returning global war on terror heroes, led by the Secretary of Veteran's Affairs, Jim Nicholson.
There are approximately 1.2 million men and women on active duty, 1.8 million in reserves and the National Guard. Of that total, 1.5 million have been deployed to Afghanistan and Iraq since the war on terror began.
There are nearly 45 million veterans in America today. Veterans are an important part of the small business community. According to the SBA's statistics, 15% of veterans are self employed.
Patriot Express Pilot Loan Initiative
Overview
The U.S. Small Business Administration has announced the SBA's Patriot Express Pilot Loan Initiative for veterans and members of the military community wanting to establish or expand small businesses. Eligible military community members include:

• Veterans
• Service-disabled veterans
• Active-duty service members eligible for the military's Transition Assistance Program
• Reservists and National Guard members
• Current spouses of any of the above
• The widowed spouse of a service member or veteran who died during service or of a service-connected disability

Eligibility for Reservists and National Guard members is limited to current members of the Reserve or Guard (and their current spouses). Former Reservists and National Guard members (and their spouses) are not eligible, unless they qualify from active duty as Veterans.
Certified copy of a DD Form 214, which is provided for everyone other than dishonorably discharged veterans is required.
bestrate.com

The Patriot Express loan can be used for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases.
Due to the special nature of Patriot Express, particularly the level of authority and autonomy delegated to lenders under this initiative, SBA is particularly concerned that Patriot Express loan proceeds be used exclusively for business-related purposes. SBA therefore expects lenders to use reasonable methods to ensure that loan proceeds are used for business-related expenses, which means conformance with verification procedures at least as thorough as those used for their non-SBA guaranteed commercial loans. At a minimum, lenders must thoroughly communicate to borrowers that all SBA loan proceeds must be used only for business-related purposes, must clearly set forth that requirement on the loan authorization, and must secure a certification from the borrower that all loan proceeds will be so used.
Patriot Express loans feature SBA's lowest interest rates for business loans, generally 2.25 percent to 4.75 percent over
depending upon the size and maturity of the loan. Lenders cannot charge prepayment fees on SBA loans.

boxhomeloans.com

boxhomeloans.com
The VA streamline refinance home loan is a mortgage program backed by the government itself. This mortgage loan is basically meant for veterans who are yet active in their duties or were involved in prior services. This loan is popularly also referred as the interest rate reduction loan.
In order to lower the interest rate of your current VA home loan, this program comes in more than handy. Not only is it a fast way in which to refinance the current VA loan, it is also pretty simplistic and hassle free. In case you have bad credit, if you did not have more than a single 30-day late payment of mortgage in past one year, you can still fall into eligibility criteria for the refinance of this VA streamline loan.
So you see, credit is not a yardstick for the qualification for VA streamline refinance program. Similar is the case with job verification documents, appraisals, and income documents. They are not required either. The existing VA home loan can be refinanced and this requires no extra expenses on your part. All the close-costs etc. incurred are considered in the total amount of loan.
boxhomeloans.com
Certificate of Reasonable Value
It relies on the estimate of an appraiser. This pertains to the estimation about the value of the property that one wishes to purchase. The amount for the loan should not be more than the CRV.
The initial step for getting the VA loan is requesting for an appraisal. This request for a VA appraisal can be made by anyone, whether a seller, a buyer, or a personnel from the real estate industry or even a lender. The completion of the VA from 26-1805 thus makes a successful request. This form, upon completion, should be mailed to the office of the VA, more specifically, to the Loan Guarantee Division. Another option is to request for the appraisal by telephone. One can telephone the Loan Guarantee Division to assign an appraiser.
boxhomeloans.com
One must recognize the fact that while the estimation of the property's value is being done by the VA appraisal team, this does not cover the inspection of the property and hence does not assure that the house does not have any defects. The state of the property is not guaranteed by the VA, only the loan is.
Application
The process for applying for VA financing is same as applying for other types of loans. As a matter of fact, the application form is same as the ones for HUD/FHA loans. The income and assets of the applicant is verified by the mortgage lender. A credit report is obtained to see that other commitments have been paid. If all goes well, then in most cases, the lender can close the loan under the automatic procedure of the VA.

www.koloans.com

www.koloans.com
The VA streamline refinance is one the best options for all those people who have VA loans on their homes. These VA refinance helps them gain a lot of benefits that would ease the burden of paying up the loans that they have taken on their homes. The VA loans unlike other mortgages do not require any complicated procedures like home appraisal to find out the present valued of her home or other procedures like checking if the person meets the credit criteria or other procedures. These loans make it very comfortable for retired service men to get their home refinanced with a better interest rate.
www.koloans.com
VA loan Network allows the opportunity of refinancing homes to all veterans of the armed forces. This is their way of giving back to the people who have served the country in order to keep it safe and free from threats. None of the other mortgage systems are as easy to enroll as the VA Loan Network. Once you enroll for the loan network then the next step is to check if you qualify for the VA streamlined refinance program, which is also pretty simple. All ex service men or person who are still active on duty are eligible for a VA loan refinance. You also become eligible if you already have an existing VA loan with them.
Some of the reasons why the VA streamline refinance mortgage is good are:
No credit Score or Income Criteria
The VA streamline loans are very good because they do not have any criteria towards their customers which require them to have a good credit score in order to avail the refinance facility. The only one thing they look at while offering a loan is whether a not you have defaulted you payments. They make sure to look into your payments and only those people who do not have more than one 30 day late payment are granted the VA streamline refinance mortgage.
www.koloans.com
Record Rates for Veterans
The VA streamline refinance program is designed to help their war heroes by offering loans at lower rates. They understand the need for this because many people have suffered greatly due to the recession.. Due to the financial crunch the Federal Reserve has decreed the interest rates. This has helped many veterans get loans for very low rates. Moreover the VA streamline refinance mortgage offers its loans at the best rates with low monthly payments making it convenient for veterans to pay up their mortgage.
Now is the best time for veterans to get a refinancing on their homes and enjoy lower interest rates. These offers don't come by often so should be made use of in the best possible ways.

www.knowyouroptions.com

www.knowyouroptions.com
I'm going to start this article off by telling you what may be the number one mistake veterans make when choosing their VA Lender (other than not doing enough research)...letting their realtor persuade them to use their preferred lender. BIG mistake! Those "so called" lenders may be good at certain products, like FHA loans or alternative type loans, but generally they don't have the level of experience that more qualified Banks might have AND they generally charge HUGE origination fees and often times other fees that VA considers "non-allowable" making an offer to purchase a house less attractive to the seller as, very often, the Realtor and his/her "preferred" lender have the contract drawn up to push those fees on the seller instead of the lender as required by VA.
So when doing research on other lenders, what should you look out for?
Here's a checklist you need to keep in mind before going out on your VA Lender search:
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1. The type of VA lender makes the difference. What I mean by that is this - Is the lender a bank, a mortgage/finance company or a broker? Generally, you're going to find that a bank will offer up lower fees and some banks actually charge NO Fees for their VA Loans.
2. Where is the processing, underwriting and closing departments in relation to one another? This is a good question because it could be the difference in meeting a closing date or not when time is saved by having all facets of the process under one roof. This will allow you and your Loan Officer to know exactly where your file is at all times and cut down on undue stress during the process.
3. How many years has your Loan Officer originated VA loans? VA Loans have become one of the premier loans for veterans now that 80/20 loans have fallen off the shelves and because of that, lenders and Loan Officers have scrambled to jump on the VA bandwagon...these same Loan Officers who were bashing VA Loans because they didn't have the product to offer. 
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5. Is the VA Loan Lender a LAPP Lender? This is important as it could be the difference between getting a lower rate in the end and paying less or the alternative. L.A.P.P. stands for Lender Appraisal Process Program. VA appraisals go through a 2nd level review to confirm the value the appraiser assigned it. If the VA Lender is a LAPP lender, they have been given approval by VA to review the appraisal and issue the NOV (Notice of Value). This may not seem like much but what most veterans don't realize is, there are lenders across the country that are not given this right and guess who has to issue those NOV's? Yes, VA does. So knowing that VA has to do all of those appraisal reviews for all of those lenders, would it be safe to say that would take more time? Of course. Having a LAPP Lender handle your VA loan for you could save you a week and up to a week and a half off of your processing time. With most interest rate locks being 30 days, can you see what might happen? You are taking a bigger chance with a non-LAPP lender that you could lose your interest rate or at the very least, have to pay to have the rate extended, which could be up to.5% of your loan amount or more, depending on the lender.