AccessNational asked:


Thanks to the GI Bill, qualified veterans from New York are guaranteed to get mortgages with no-money down – and federally insured – through New York VA Home Loan Programs. To get access to the programs, you just need to get an assist from a helpful and knowledgeable New York VA Mortgage lender.

What kind of home can the New York VA Home Loan Programs get you into?

Nearly every type of home is available to qualified veterans through a New York VA Mortgage lender, such as the programs offered by Access National Mortgage, so long as the home meets a certain qualification. This provision requires that the home being purchased is occupied by the veteran buyer. And if the home meets this provision, then the New York VA Home Loan programs offer a long list of property types that can be purchased.

The New York VA home loan programs offer buyers these type of properties:

•Single-family homes

•Townhouse, or condo units in approved projects

•The building of a new home

•Improvements of existing homes

•Energy efficient improvements to a home

•Manufactured homes or lots (which are subject to certain standards)

•Farm properties (as long as there is a house which is the primary home for the qualifying veterans) •Refinancing

How to find your New York VA Home Loan Programs

The first lesson a veteran needs to learn is that their right to a VA loan through a New York VA mortgage lender is automatic, but qualification for a loan is not. Veterans still must meet certain qualifications for a loan through a New York VA mortgage lender, as set by the Veteran’s Administration. What do you need to get this loan through your New York VA mortgage lender? A good credit rating, income to support the loan, and a VA certificate of eligibility about your qualified service.

To get your certificate of eligibility, use the online Automated Certificate of Eligibility program. Your New York VA mortgage lender is the only one who can provide this service, or you can use the mail to get VA Form 22-1880.

Once your New York VA mortgage lender has your certificate, the process for putting together your mortgage and determining your eligibility can start. From there, your New York VA mortgage lender will need a veteran to apply for a loan just like a typical applicant. After that, the New York VA mortgage lender will work to see which of the New York VA home loan program you qualify for and what terms the New York VA mortgage lender can work out.

New York VA home loan programs are a tremendous benefit for state veterans, from the no-money down program, which allows veterans to get into a home with little savings and helpful down-payment allowances which can get a veteran into a bigger a better home. But to find out about the best VA home loan programs, you will always need the help of a skilled and trustworthy New York VA mortgage lender.



STEFAN

Jennifer asked:


If I recall correctly, a bank will only issue a loan for as much as a home is worth.

There’s a foreclosure in our neighborhood that no one touched while the seller had it on the market… honestly, it’s ugly – aluminum siding, brick veneer, and the layout of the house is odd, but we’ve decided we can make it work.

Anyway, since it didn’t sell, that owner had it seized by the bank. My husband and I want to make a low offer on it, and maybe get financed for an extra $20k in home improvements (even this would still put our loan quite a bit lower than the home’s appraisal value). Do banks do this? We’re qualified for FHA financing, but we can also put 10% down alternatively.

MARCOS

jolifrijoles asked:


I am so irritated with the catch-22 of home improvement. You can’t get a loan without having equity (i just bought 4 months ago), and in this market you sure aren’t going to get equity without boosting the value of your home by making improvements, which of course requires money.I was prequalified for 3 times the mortgage I got, but this place needs a LOT of work. I was naive in thinking that since i prequalified for so much more that I could easily find home improvement funds. To an extent, that’s true– I can get personal loans with decent interest, but they’re on a 5-7 year payoff. I’d prefer to roll it all into a 30 yr mortgage so I’m not too burdened with the payment. I also don’t like the 203 loans because they require you to use licensed contractors for everything. A lot of it I could do myself. I’m guessing I could do it all with about $20-30K if I do what i can myself. If I go the contractor route it’s probably about 50K. I don’t want to put this all on credit cards. Are there any options other than 5 yr loans and credit cards, or 203 loans to get the money to do this stuff and pay it off in 15 years or more??? I’m about to give up. Thanks

BARNEY