VA home loans FHA Loans ... News Updates and Commentary

There has been substantial argument what the rates and the economy will be doing in the next quarter. If you are considering an FHA Loan or a VA Loan purchase, many say do it now!

The current issue is not whether the housing prices or the rates are going lower, the bigger issue is qualifying for the loan. Minimum FICO for FHA Mortgage remains 600 as well as the minimum FICO for VA Mortgage, but they are starting to climb and getting qualified is becoming more difficult. Whether your credit is perfect or a little sketchy, VA Loans still remain your best bet. Most people take themselves out of the market because they think they will not qualify. Surprisingly, the greatest majority will qualify. Fill out the loan application, it will take only a few minutes to get qualified, if you don't happen to qualify, we have a free service that will put a plan together to get you qualified in the near future. Again, it is free.

On another note, With the Subprime market leading the foreclosure debacle, the new issue is the job market. Another 675 million workers lost their jobs last month compounding foreclosures. No doubt, we will not be out of this mess anytime soon. It seems everybody has heard about the Mortgage Loan Modifications. For those we have been unable to refinance, a loan modification has been a Great alternative route. Briefly, The government stimulus has set the guidelines to give lenders and servicers an incentive to reduce your mortgage principle balance and or interest rate between 31 and 38 percent of your income. This stimulus is expected to help some 9 million homeowners. More on this later.

If you have any questions about a VA Mortgage, FHA Mortgage, or Loan Modification, send an instant message from the website and we'll get right back to you.

As Always, we encourage your comments