The Ultimate Guide to VA Loans in Florida, Texas, Tennessee, and Alabama
The Ultimate Guide to VA Loans in Florida, Texas, Tennessee, and Alabama
How do you qualify for a VA loan in Florida, Texas, Tennessee, and Alabama?
Are you a veteran or active-duty member of the military looking to buy a home in Florida, Texas, Tennessee, or Alabama? Are you a Realtor that wants to know more about the VA Home Loan Program and how it can maximize a veteran’s qualifying ability?
If so, today’s VA webinar workshop replay is a great resource to better understand the flexibility and power of a VA No Down Payment Loan. You will also learn more about a variety of qualifying benefits that can help make homeownership more affordable for our valued veteran community.
Today’s video is taken from our April 5, 2023 VA online workshop, which covered VA qualifying requirements for Florida, Texas, Tennessee, and Alabama.
I hope you find this presentation helpful, but please let our team know if you have any additional questions or if you would like to take advantage of our Free 2nd Opinion Service which is great for both new pre-qualifications and those loans that are currently in progress.
Call/Text: 863-593-2001
SeanS@MPLX.org
The Ultimate Guide to VA Loans in Florida, Texas, Tennessee, and Alabama
The agenda for this online workshop included the following topics:
1.VA Loan History and Comparison:
- Conventional, FHA, USDA, and VA
- 100 Financing Overview
- VA Seller Concessions
- Allowable vs. Non-Allowable Costs
- Automated Underwriting vs. VA Manual Underwriting Guidelines
2. VA Eligibility, Entitlement, and Funding Fee
- VA Home Loan Eligibility
- VA Certificate of Eligibility
- Who can be eligible for a VA loan?
- VA entitlement (VA Basic Entitlement and Bonus Entitlement)
- VA Funding Fee
- VA Funding Fees have been updated for loans closing on or after April 7, 2023 – VA Circular 26-23-06
3. Debt Ratios, Residual Income, and Credit Qualifying
- VA Debt-to-Income Requirements
- VA Student Loan Repayment Requirements
- VA Residual Income Qualifications
- VA Loan Credit Qualifying Overview
- VA waiting periods for Bankruptcies, Short Sales, and Foreclosures
4. Additional Benefits of a VA Loan
- What is a No Down Payment VA Loan?
- VA termite inspection requirements (also referred to as a wood destroying inspect or wood destroying organism “WDO” report)
- What are VA Minimum Property Requirements (MPRs)?
- How do you purchase a Manufactured Home with a VA Loan?
- Can you purchase a home with a VA loan on a private road?
Thank you again for forwarding and sharing today’s video with any friends, family, co-workers, or clients who are looking to buy, sell, or refinance!
Remember, you can simply call, text, or email to discuss your scenario and let us show you the “Metroplex” difference!
Call/Text: 863-593-2001
SeanS@MPLX.org
As always, I want everyone to make it a great day, and look forward to seeing you right here for the next tip of the week!
P.S. – You can download our “USDA Blueprint for Success” by CLICKING HERE.
