MENU
By Sean Stephens
Tags:

How do you qualify for a 3% down payment conventional loans?

Did you know that Fannie Mae® and Freddie Mac both have 3% down payment programs! Here is a short video which explains the differences and along with the highlights. Remember, conventional loan 3% down payment programs can be a great alternative to FHA financing, because as of 6/3/13 FHA monthly mortgage insurance is now for […]

By Sean Stephens

Does the Type of Bankruptcy Affect How Soon You Can Qualify for a VA Loan?

Can bankruptcy affect how soon you can qualify for a VA loan? Today’s video tip will cover the details on how qualifying for a VA loan can be possible after a previous bankruptcy. We will discuss the qualifying differences between a Chapter 7 and Chapter 13 Bankruptcy. Please remember, this information is not intended for […]

By Sean Stephens

What is a VA Funding Fee?

Do Veterans Need to Pay a Funding Fee for a VA Loan?  Determining if a funding fee is required and when it needs to be paid is a common situation experienced during the VA loan process. This week’s blog will help clear up any confusion on the topic and explain how it is calculated.  VA […]

By Sean Stephens

How do you Calculate Residual Income for a VA Loan?

How Will Residual Income Affect VA Loan Qualifying?  This week’s topic may be specific, but still extremely important –  because if this criteria is not followed, it could result in a closing being cancelled instead of celebrated.   VA Residual Income Guidelines Per the VA:  “Residual income is the amount of net income remaining (after […]

By Sean Stephens

What are the Minimum Property Requirements for a VA Loan?

Are There Minimum Property Requirements for a VA Loan?  Per Chapter 12 of VA Pamphlet 26-7, Revised: VA Minimum Property Requirements (MPRs) provide general acceptability criteria for properties which will become the security for VA guaranteed loans. In proposed or under construction cases, the MPRs help ensure that the property is constructed according to the applicable […]

By Sean Stephens

What is the Maximum VA Loan Amount?

Do VA Loans Have Set Loan Limits Like FHA? Today we will go into detail about this portion of the VA qualifying process and how to help both Veterans and Realtors maximize the benefits of the VA loan program.  VA Loan Limit Guidelines Per VA.gov website:  “VA does not set a cap on how much […]

Have Questions or Need Help? Contact Us Today - 800-806-9836 Home | About Us | Loan Types | Apply Online | Realtors | Contact Us | Legal & Privacy | Site Map

© 2017 Metroplex Mortgage Services, All Rights Reserved

We lend in the following states: Alabama, Florida, Tennessee & Texas. Any loan program may require sufficient equity and certain conditions may apply.
As a VA Approved lender, we are not endorsed or affiliated with the Department of Veteran Affairs. As a USDA Approved lender, we are not endorsed or affiliated by the U.S. Department of Agriculture.