1 / 16

Phoenix Regional Loan Center

Phoenix Regional Loan Center. Opening Remarks. Jeffery L. Wilson Loan Production Officer Phoenix Regional Loan Center Home Buying/Awareness Briefing. Agenda. Introduction Advantages Steps Wrap-up. VA at a Glance. Loan Production Construction & Valuation

teagan-mckay
Download Presentation

Phoenix Regional Loan Center

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Phoenix Regional Loan Center

  2. Opening Remarks Jeffery L. Wilson Loan Production Officer Phoenix Regional Loan Center Home Buying/Awareness Briefing

  3. Agenda • Introduction • Advantages • Steps • Wrap-up

  4. VA at a Glance • Loan Production • Construction & Valuation • Loan Administration • Special Adapted Housing • Native American Direct Loan Program

  5. Why use the VA Loan Program?

  6. Advantages • 100% Financing – no down payment • Competitive interest rates • Limited closing costs • No cash reserve requirements • No pre-payment penalties • No Private Mortgage Insurance

  7. Advantages • Energy Efficient Mortgages • Fast and easy processing • Easy to qualify – flexible credit standards • Interest Rate Reduction Refinance Loans available (No appraisal or credit qualifications required) • VA loans are assumable • VA Customer Service!

  8. Minimum Property Requirements (MPR’s) • Safe • Sanitary • Structurally Sound

  9. Underwriting Guidelines

  10. Income • Stable and reliable • Sufficient in amount • Reportable / verifiable

  11. Credit • Generally NO derogatory credit last 12 months • Paid / unpaid collections • Judgments satisfied or repayment plan

  12. VA HAS NO LOAN LIMITS VA maintains a maximum GUARANTY based on the HUD/FHA average property value chart located on VA’s web site:http://www.benefits.va.gov/HOMELOANS/documents/docs/2014_county_loan_limits.pdf

  13. VA’s Guaranty Here are some examples of how the maximum guaranty works:

  14. Steps • Certificate of Eligibility • Find a home • Select a lender • Appraisal • Qualification • Closing • VA guarantees loan

  15. Questions and Contact • RLC Telephone Number 888-869-0194 • Local Phone Number 602-627-3048 • Email Address LPGC.VBAPHO@va.gov • Web Address http://www.benefits.va.gov/phoenix/

  16. Thank You for your interest in the VA Home Loan Program and THANK YOU FOR YOUR SERVICE!

More Related