BloodhoundBlog Radio: VA Home Loan Tutorial For California REALTORS

I recorded this webinar on March 11, 2009. The AUDIO IS HERE and will open in a new window.  Listen along and click through the links as I discuss them:

• The zero-down loan limits for California counties
• How a purchase price, above the VA loan limit, might not require a 20-30% down payment
  • VA downpayment requirements- Example #4
• Why returning Iraq and Afghanistan veterans are buzzing about buying a home
  • BAH Tables
  • Pay Scale– 8% increase in past two years
  • House Prices Down  (use $8/thousand)
    • 732 Butterfield, Oceanside ($1,600/month)
    • 5346 Rio Plata, Oceanside ($2,640/month)
• How residual income analysis is used instead of debt-to-income ratios for underwriting purposes
• How to assuage the fear associated with a VA offer
  • Non-allowable costs to VETERAN
  • Document preparation, loan closing or settlement, mailing or postage charges, escrow charges or fees, document preparation and / or assignment, notary, loan application, processing,undewriting fee, trustee’s fees or charges and tax service.
  • About $1,200-$2000
  • WHO PAYS?
    • borrower (as a discount fee)
    • lender
    • real estate agents
• Why VA underwriters hardly ever challenge the VA appraisal
  • LAPP underwriting
  • Certificate of Reasonable Value
• How VA home loans can be a less costly alternative to jumbo and FHA jumbo financing
• Why the VA home loans are a better alternative than Cal-Vet loans
• How to verify that a condominium complex is VA-approved
• How to secure a VA approval for a condominium complex
  • FHA condo approval
  • VA guidelines for condo approval- Lenders’s Handbook- 16A.02