Welcome to Home Mortgage Guide
Va Home Mortgage Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Mortgage Home Issues: Your Rights
from:Consumers have rights when it comes to their mortgage home endeavors. Federal law assures that every potential homebuyer is protected from discrimination on the basis of sex, race, national origin, age, marital status, color and religion. Those who receive public assistance funds, those who are handicapped and people with children under the age of eighteen should be treated with the same consideration as any other customer.
Consumer credit protection Laws are designed to ensure that everyone receives equal treatment and service in the for a mortgage home loan. A lender can not take any of the above listed factors into consideration when deciding on whether or not to approve the application. These factors have no direct bearing on your ability to acquire financing for your property.
Requirements of Mortgage Home Loan Officials
The representative should not take your race, sex or age along with any of the above mentioned issues into account in your dealings. The numbers speak for themselves. This professional should remain completely objective and focus solely on your credit history, the appraisal, your work history and the amount of the loan.
Any subjective speculation has no place in this type of dealing. For example, a loan officer is disobeying federal law if she states that a single woman with two children can’t possibly buy a new home. This is pure speculation that has no real basis.
Your experience with the lending institution should be the same as any other applicants. You can expect to be willingly given an application upon request. No one should discourage you from applying. Also, you should be given any pertinent information that you require in the application process.
The lender’s representative should be willing to discuss your options when it comes to their mortgage home loans. The information should be quite involved and you should have an idea of which product might serve your specific needs. You should also have a clear understanding of the qualifications for the loan during this phase.
If you decide to pursue the home mortgage loan further, you have every right to fill out the application and present it to the lending institution. You can expect to provide information pertaining to your finances including your savings, salary and credit history. You can also expect to provide written proof of these subjects.
The lender also needs to see an appraisal for the value of the property. This is a necessary step in the process. Once your paperwork is in order, including the amount requested for the loan, the company has to provide a timely decision regarding your application.
Va Home Mortgage News
VA Home Loan Centers Adds Chat Functionality to its Web Site
VA Home Loan Centers http://www.vahomeloancenters.org unveiled today a new client-to-agent chat interface that allows veterans and their families immediate access to expert knowledge. Veterans who are interested in the government guaranteed home loan program can now receive instant answers to any questions they may have. ...
Read more...California VA Home Loans Now Sponsored by Security America Mortgage, Inc. for up to $1,000,000 in 2012
California VA Home Loans Now Sponsored by Security America Mortgage, Inc. for up to $1,000,000 in 2012 Security America Mortgage Proudly Announce VA Home Loan Advantages for Veterans Purchasing a Home in California Experts in the industry of VA Loans, such as Security America Mortgage, Inc., know just the right tricks of getting the best rate for Veterans and Military personnel in the nation who ...
Read more...Freddie Mac Announces Prepayments in Certain Mortgage Participation Certificates
MCLEAN, Va., May 22, 2012 /PRNewswire/ -- Freddie Mac (OTC:FMCC) announced today that certain of its Mortgage Participation Certificates (PCs) will shortly experience prepayments in a total amount of approximately ...
Read more...Nations Lending Streamlines VA Home Loan Program and IRRRL Mortgage Refinance Application Process With Department of ...
The Department of Veterans Affairs has approved Nations Lending Corporation as a Nonsupervised Automatic Authority Lender. The financial institution is now closing VA home loans on an automatic basis, without prior approval from the Department of Veterans Affairs. Jeremy E. Sopko (C.E.O.) and William L. Osborne Jr. (C.F.O) of Nations Lending Corporation have announced that the Ohio based, VA ...
Read more...Historic Lows for Fixed Mortgage Rates Hold Steady
MCLEAN, Va., May 24, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey ® (PMMS ® ), showing the record lows for average fixed mortgage rates ...
Read more...