Hispanic households grow, accounting for more than half of new homeowners

Hispanic households grow, accounting for more than half of new homeowners

No Change until 2016

No VA Funding Fee Change

Although VA had mentioned changing the funding fee a few times, they have decided to keep it the same.  As of now, the fee will remain the same until 2016.

-2.15% - Funding fee for first time VA use

-3.30% - Funding fee for second or subsequent uses

Don’t forget – if you receive at least 10% VA disability, they will waive the entire funding fee for you.

In addition, if you put money down (at least 5%), they will reduce the funding fee, regardless if it is your first use or any subsequent use.

Contact me today for more information!

Danielle Hifko

New American Mortgage

910-581-6398

Black Friday Sale! $5,000 Buyer's Agent Bonus

Take the guess work out of which income is considered for a loan.

What income can be considered when getting qualified for a loan?

-Employment income – If there has been a gap in employment, lenders need to see six months of recent income

-Social Security Income – Awards letter required to consider this income

-Retirement/Disability/Investment Income

-Child Support/Alimony

With the following, the lender must have proof it will continue for at least 3 more years: Child support, alimony, retirement, and investment income.  If it is not set to continue for at least this amount of time, it may not be considered in qualifying for a loan.

What income cannot be considered?

-Unemployment

-Income from attending school – GI Bill, Grants, etc