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Old 08-15-2008, 08:13 PM
 
Location: Athens, GA
76 posts, read 370,235 times
Reputation: 56

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"vtowntom" is absolutely right! Check your yellow pages. There are many Mortgage companies who are VA appoved lenders in your area. Mortgage Investors Corp. located in St. Petersburg, FL is considered a VA loan expert in that area. Of course this means ultimately the buyer of your home will have to be a Veteran with a valid Certificate of Eligibility.
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Old 08-19-2008, 03:29 AM
 
300 posts, read 1,086,896 times
Reputation: 113
Quote:
Originally Posted by icon7 View Post
It is recent.
We still get fliers in the mail, 100% for up to $1M with no PMI.
Wow.

So glad I don't have any investments in Bank of America.

Is it just me, but is asking someone to have at least 1% of the purchase price on hand really too much to expect? There's no shame in renting!

Shoot, you should have at least 3-5% of the purchase price of the house on hand just in case you need to make repairs to keep the house livable if something breaks.

For instance, insurance doesn't cover replacement cost of things just wearing out, like roofs, water heater, furnace, etc.

Just really seems like giving someone a 100% loan is enabling them to get into serious trouble if they don't have other reserves available.

Especially in today's market, if you don't have at least 6% down, you're upside down on your loan the moment you move in. That's because you'll need to cough up 6% to pay all the realtor's fees to sell the place (plus any taxes your state may have). Not good.
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Old 09-06-2008, 10:07 PM
 
791 posts, read 2,972,792 times
Reputation: 623
I was a little surprised when I went to their website to see some of the cities on the list:
sfh_direct_loan_income_limits
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