by TitleTap | Apr 3, 2018 | VA Loans:
What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at competitive interest rates with little to no down payment and little or no private mortgage...
by TitleTap | Apr 3, 2018 | VA Loans:
What Are VA Loans? As the video says, the name is misleading – they’re not loans FROM the VA. The VA – short for “US Department of Veterans Affairs” – is the Federal military veteran benefit system. The VA administers benefits and services for...
by TitleTap | Apr 3, 2018 | Mortgages:
Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says: debts are existing financial commitments; a car payment is a debt a grocery bill is not. To calculate...
by TitleTap | Apr 3, 2018 | Mortgages:
What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt...
by TitleTap | Apr 3, 2018 | Mortgages:
As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for...
