Home Loan Guaranty Services

VA Direct Home Loans for Native American Veterans
Living on Trust Lands (On-Line Version)

WHO IS ELIGIBLE?

VA direct home loans are available to eligible Native American veterans who wish to purchase or construct a home on trust lands. Details on the military service requirements are spelled out below.

WHAT CAN THE LOAN BE USED FOR?

A VA direct loan can be used to purchase, construct, or improve a home on Native American trust land. These loans may also be used to simultaneously purchase and improve a home or to refinance another VA direct loan made under this program in order to lower the interest rate. VA direct loans are generally limited to the cost of the home, or the Federal Home Loan Mortgage Corporation single-family conforming loan unit, whichever is less. Contact a VA office with loan activities for information regarding the current loan limit and any other questions you may have concerning VA direct home loans. The addresses and toll free numbers of the VA office servicing your area can be found at the bottom of this page.

FIVE EASY STEPS TO A VA LOAN

1. Make sure that your tribal organization or other appropriate Native American group is participating in the VA direct loan program. The tribal organization must have signed a Memorandum of Understanding with the Secretary of Veterans Affairs, which includes the conditions governing its participation in the program.
2. Apply for a Certificate of Eligibility. A veteran who doesn’t have a certificate can easily obtain one by completing VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan. This form should be mailed to the VA Eligibility Center, P.O. Box 20729, Winston-Salem, N.C. 27120. To contact the VA Eligibility Center, call toll free 1-888-244-6711.
3. Decide on a home to buy and sign a purchase agreement or a contract with the builder to build the home. Make sure to include in the contract a provision that makes the contract void if you are unable to obtain a VA direct loan.
4. Contact either your local housing authority or VA to apply for the loan. An appraisal of the property will be ordered, and you will be asked to provide information needed to verify your income and credit history.
5. Close the loan and move into your new home.

HOW TO GET A VA DIRECT LOAN

Who is Eligible?

Veterans who were honorably released from active duty service, during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam-era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days service. Veterans with service only during peacetime periods and active duty military personnel must have had more than 180 days active service. Veterans of enlisted service that began after September 7, 1980, or officers with service beginning after October 16, 1981, must in most cases have served at least 2 years.

Persian Gulf Conflict. Basically, reservists and National Guard members who were activated on or after August 2, 1990, served at least 90 days and were honorably released from the period of activation are eligible.

Reservists. Members of the Selected Reserve, including the National Guard, who are not otherwise eligible and who have completed 6 years of service and have been honorably discharged or have completed 6 years of service and are still serving, are eligible. Ask VA about what is needed to establish eligibility. Reservists will pay a slightly higher funding fee than regular veterans. (See paragraph entitled "Costs of Obtaining a VA Direct Loan.")

VA DETERMINATION OF REASONABLE VALUE

The maximum loan amount may not exceed VA's estimate of the reasonable value of the property to be purchased. A qualified appraiser assigned by VA will perform the appraisal and make this determination. An application fee, collected from the veteran at the time of loan application, will be used to pay for the cost of the appraisal and for other expenses connected with the processing of the loan.

It is important to recognize that VA does not guarantee the value or condition of the property. Homebuyers should carefully inspect the property themselves, or have it inspected by a reputable inspection firm.

Loan Application

Contact either your local housing authority or VA to apply for the loan. The party processing the loan verifies the applicant's income and assets, and obtains a credit report to see that other obligations are being paid on time. If VA office reviewing the package determines that all is well and the appraised value of the property is enough to cover the loan needed, the loan will be approved and a date set for loan closing.

REQUIREMENTS FOR LOAN APPROVAL

To obtain a VA direct loan, the law requires that:

• The applicant must be an eligible Native American veteran who has available entitlement.
• The tribal organization or other appropriate Native American group must be participating in the VA direct loan program. The tribal organization must have signed a Memorandum of Understanding with the Secretary of Veterans Affairs, which spells out the conditions under which the program will operate on its trust lands.
• The loan must be to purchase, construct, or improve a home on Native American trust land. Individually allotted land is considered trust land for this purpose.
• The veteran must occupy the property as his or her home; a loan for rental or investment purposes is not permitted.
• The veteran must be a satisfactory credit risk.
• The income of the veteran and spouse, if any, must be shown to be stable and sufficient to meet the mortgage payments, cover the other costs of owning a home, take care of other obligations and expenses, and have enough left over for family support.
• All prospective applicants are encouraged to first contact either their local housing authority or VA to discuss their financial situation and obtain a general idea of whether or not they might qualify for a home loan.

COSTS OF OBTAINING A VA DIRECT LOAN

• A funding fee of 1.25 percent must be paid to VA unless the veteran is receiving compensation because of a service-connected disability. In the case of veterans who qualify based on service in the Reserves or National Guard, which was not active duty, the funding fee is 2 percent of the loan amount. The funding fee may be paid in cash or it may be included in the loan.

Other closing costs may not be included in the loan. Closing costs may vary because of differing local laws and customs. The following items may be paid by the veteran purchaser, the seller, or shared:

• VA appraisal
• Credit report
• Loan processing fee of up to $300 to a party who processes your loan
• Title search and title insurance or other title review fee
• Recording fees
• State and/or local transfer taxes, if applicable,
• Survey
• Hazard insurance premium

No commissions, brokerage fees, finders fees, or "buyer broker" fees may be charged to the veteran buyer.

Read More

Native Americans and Mortgages

American Indians, while still falling below many minorities, have several avenues open to them to facilitate acceptance of mortgage applications. The Federal Govt. has established these agencies in response to problems American Indians may face when applying for a traditional mortgage. American Indians can face extraordinary difficulties in obtaining a traditional mortgage due to economic depression in tribal lands and unfair lending practices.

HUD provides Native American’s with recourse to mortgages through the establishment of its Office of Native American Programs, or ONAP. ONAP offers American Indians several options in mortgage types, loan duration, interest rates and amount of down payment. HUD’s ONAP can be accessed through mail, in person or through Web access; in addition, many websites offer a rundown of the benefits of ONAP’s loans providing valuable information to American Indians interested in HUD’s mortgage loans. Some of the benefits from using HUD’s One Stop Mortgage Center are zero down payment, potential refinancing, mobile home financing and veterans programs.

A partnership between the Native American Bank, LenderLive and Greenpoint Mortgage has resulted in turnkey home mortgages for American Indians for a number of purposes like rehabilitation, refinancing and home buying. This partnership provides American Indians with great resources to help in getting a home loan. The Native American Bank is now in position to be the number one lender to American Indians and to reap the rewards of serving this growing sector of the industry.

The Fannie Mae Organization has also created mortgage programs for Native Americans. These do not have as broad a spectrum as the HUD loans and some of the terms may be somewhat less attractive but they are quality mortgage loans offered at good rates. The Fannie Mae organization is a well respected entity in the nation, providing loans and mortgage information to people nationwide.

Freddie Mac also has a specialty division to assist American Indians with attaining a home mortgage.
They provide access to HUD loans and several other programs designed to help Native Americans. This institution provides information to help Native Americans understand the options available to them and the difference between what once was and what the industry has become today.
Home loans to Native Americans consistently fall behind mortgages to whites and several other minorities. The programs listed above were designed with this in mind, to bolster the numbers of American Indian’s successful loan applications. Traditionally, American Indians have been poorly received by many institutions due to tribal autonomy, poor economy in tribal lands and other issues of concern.

One of the factors behind Native Americans’ difficulty in obtaining mortgage loans is the situation on tribal lands. Many times, the economy of these lands is depressed, leading to low paying jobs and high unemployment rates. The American Indians have begun a promising change, however. Jobless rates, though still worse than national levels, are plunging. Social reforms, land acquisition and internal tribal change are revitalizing tribal lands and thus the economy and feasibility of acquiring home loans. Many groups are beginning to recognize the potential of the Native American peoples and are actively courting their interest.

Read More

How to Reduce Your Mortgage

One Additional Mortgage Payment a Year

There's a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan's principal.

This is the method being used by "Bi-Weekly Mortgage Reduction Services" and "Bi-Weekly Mortgage Savings Programs". Only, when you do it yourself, you don't pay a third party unnecessary set-up costs and fees!

Example: $100,000 loan, 30-year mortgage, 6.5% fixed interest rate

Extra Mortgage Payments/ Year Principal & Interest Additional Monthly Payment SAVINGS Total Paid # of Years 0 $632.07 0 0 $227,542.98 29.92 / 359 mos. 1 $632.07 $52.68 $29,088.02 $198,454.96 24.12 / 290 mos. 2 $632.07 $105.35 $28,399.71 $181,050.85 20.5 / 246 mos. 3 $632.07 $158.02 $58,320.95 $169,222.03 17.92 / 215 mos. 4 $632.07 $210.69 $66,969.79 $160,573.19 15.92 / 191 mos. 5 $632.07 $263.36 $73,607.77 $153,935.21 14.34 / 172 mos.

One-time Payment

It may not be possible for you to increase your monthly mortgage payment. Keep in mind that most mortgages will permit you to make additional payments to your principal at anytime. Perhaps, five-years after moving into your home you receive a larger than expected tax return, or an inheritance or a non-taxable cash gift. You could apply this money toward your loan's principal, resulting in significant savings and a shorter loan period.

Example:

With a $100,000, 30-year, 6.5% fixed interest rate mortgage loan, the borrower will pay a total of $227,542.98 to pay back the loan in 30 years. That equals $127,542.98 in interest payments.

If the same borrower makes a one-time $5,000 payment the first day of year 6, he/she will pay a total of $204,710.75 and pay off the loan in 27 years (324 months). That's a savings of $22,832.23 in interest.

Read More

Needler Home Loans

An overview of the loan process

Make no mistake, there's a lot involved in getting a mortgage loan. You wouldn't be here on our website if you could fill out a one-page application and get the best loan for you funded the same day. What we do is do most of the heavy lifting for you, so you can concentrate on what's important -- preparing to move into your new home, saving money, or making plans for your home equity check.

There are four main steps involved in getting a loan. You'll see that we've made your part in them as easy as possible, and we do all the work! That's what we're here for.

Step one: determine how much you can borrow

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? The first part you can get a rough idea of by using the calculators on our website. We'll also help you through different scenarios by asking a few simple questions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on. We get your permission to run your credit score. When we review all this information we give you a Pre-Qualification Letter. Handle it with care -- to a home seller, it's like a suitcase full of cash! Your realty agent will use your Pre-Qual (as they may call it) to make the best offer on the home you choose, and the seller knows you're pre-qualified. It gives you buying clout! And while you're picking out the home that's right for you, we're busy finding the loan that's right for you.

Step three: apply now! We make it easy

Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at our website. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your realty agent and the seller's will work together to designate an escrow/title company to handle the funding of your loan once it's approved. We'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.

Read More

American Homefront Mortgage

American Homefront Mortgage is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.

Read More

Customer Reviews

Recommended Mortgage Lenders - FL, GA, SC, AL & MS areas

Thank you for connecting with us. We are pleased to recommend you, as we choose our affiliations very carefully as you probably do also. We are proud to be part of your network and we look forward to working with you.

You can refer any non-qualifying, credit-challenged clients to us with complete confidence and be assured we'll send them back to you with better credit and higher scores. Our experienced attorneys are consumer credit law specialists and we back them with the strongest 100% money-back warranty available. We want to help you promote and grow your business Ask about our Affiliate Plan. We have added your company to our database and we look forward to a mutually beneficial relationship. Thanks again and best wishes for your continued success!

June 30, 2009 by LEGAL CREDIT AID - Attorney Facilitated Credit Restoration Services

Class Act, A+, Stellar Company

I have worked with many mortgage companies over the years and this one by far has impressed me the most. I was pleasantly suprised at the strong follow up, communication, and dedication this company showed me, They worked hard to earn my business and I want anyone who cares to know. American Home Loans has my full endorsement, stamp of approval, and supreme recommendation. This is the kind of company you can feel confident and comfortable about working with.

Read More

The 1st American Home Loans Inc Difference:

The 1st American Home Loans Inc Difference:

• Get the lowest rate possible
• Quick 2 minute form
• No SSN required
• No credit check conducted
• Your information is kept private
• Zero Cost
• Zero Obligation
• Zero Hassle

Read More

lock Privacy & Security Protected Tap the Power of Your Home’s Equity

Need cash for home improvements, debt consolidation…anything?

Try a Home Equity Loan. Our network of lenders can provide all types of home equity loans and versatile home equity lines of credit (HELOC). Get cash from your home’s equity for any financial need:

• Consolidate your debt into one easy payment
• Make home improvements
• Pay for college
• Buy a car
• Have a ready-to-use safety net for financial emergencies

In some cases, there are even tax benefits to having a home equity loan.* Use a LendingTree Home Equity Calculator to calculate your home's equity and find the home equity loan that’s best for you.

*Consult your tax planner.

Home Equity Calculator Tools & Advice

Brought to you by the Smart Borrower Center.

• Home equity loan vs. home equity line of credit Consider the amount you need to borrow and what you need it for to determine if a HEL or HELOC is right for you.
• Calculating your home equity Q: I've been hearing a lot lately about the benefits of home equity loans. But how do I know how much equity I have in my home?
• How to use your home equity wisely You can benefit from drawing on your home equity, but it's important to do it the right way.

Read More

Ratings

American Home Loans is one of the country's largest independently owned broker/bankers. With offices throughout the country lending homeowners over a billion dollars every year, American Home Loans is an in-dustry leader with a solid reputation for service, innovation and quality.

Based on 528 ratings-only reviews

These ratings are based on customers' evaluations of this lender since joining our Lender Network. These ratings do not include any customer comments. These reviews have been factored into the lender's overall rating.

Overall Rating

3.6 of 5

Rate

3.5

Fees & Costs

3.0

Responsiveness

3.8

Customer Service

3.7

Read More

George A. Nava Real Estate Loans

Hello, I am an independent, full service mortgage broker specializing in purchase loans, home equity lines of credit, refinancing, and creative lending solutions. I have a reputation for integrity, honesty, and consistency. As of 2009, I have strong relationships with over fifty lenders, so that I can guarantee you the best rates and service. The lenders that I use go above and beyond to get you the best loan possible. There are hundreds of programs available to fit any situation, and I have helped first time home buyers as well as investors acquire the perfect funding solution. Call me today today and find out what I can do for you!

Read More

American Home Loans inc

Get your loan fast!

Welcome to our website, a "frustration-free zone" where we get you started toward qualifying and applying for a mortgage loan. Our mortgage professionals can get you approved in record time! That's because we take advantage of the very latest and best automated tools to speed you hassle-free toward your new home, new mortgage or home equity cash!

You've earned your home equity. Make it count! Use our calculators and other tools to see how much you can borrow according to what you want to pay. We not only use technology but our experience to make cashing that check just around the corner.

Want to refinance a current mortgage and strike while the rates are hot? We offer several lock-in periods and bring your loan home from application to signing on the dotted line with time to spare. You don't want to wait to start saving on your interest rate and monthly payment, and we won't make you!

Shopping for a home? Thinking about it? Get prequalified by one of our mortgage professionals. You'll have the clout of a cash buyer. You'll know how much you can afford. And be well on your way to the mortgage program that's right for you as soon as you make the offer!

Whatever your reason for wanting a mortgage loan, we get you there fast -- without taking our eye off the ball. You want a quick, not sloppy, application process! We understand and deliver the best service as well as the fastest.

Every day after you apply is a day you want to be paying a lower monthly payment, spending your home equity cash or moving into your dream home! We don't waste time -- we get you where you want to go. Use this site to help you find out what the best options are for you, then come meet one of our mortgage professionals.

Read More

Israel Said to Be Open to Settlement Freeze

JERUSALEM — Israel would be open to a complete freeze of settlement building in the West Bank for three to six months as part of a broad Middle East peace endeavor that included a Palestinian agreement to negotiate an end to the conflict and confidence-building steps by major Arab nations, senior Israeli officials said Sunday.

The officials spoke before a planned meeting in Washington on Tuesday between Israel’s defense minister, Ehud Barak, and George J. Mitchell, the Obama administration’s Middle East envoy, and said this was the message Mr. Barak would take with him.

The freeze would not affect construction that was already under way, nor include East Jerusalem. But it would mean that during the specified time no construction of any kind could start even in the close-in settlement blocks that Israel expects to keep in any future two-state agreement with the Palestinians.

While such an offer falls short of President Obama’s demand that Israel halt all settlement building now, it is the most forthcoming response that senior Israeli officials have given to date and suggests that American pressure is having some effect. Until now, Israeli officials have insisted that settlements cannot be asked to end “natural growth” or “normal life,” meaning building for the children of those living there.

The officials who spoke of the prospect of a temporary freeze said the issue was explosive in Israel, so they were not prepared to have their names publicly associated with the idea at this stage. But they spoke with clear authority. They calculated that about 2,000 buildings were going up in West Bank settlements now and said that they would be completed under their proposal, but nothing new would start. They also said that if broader peace efforts came to naught, the building would start up again.

Mr. Barak himself declined to address the question of a temporary freeze in a conversation on Sunday with The New York Times, saying only that settlements should be viewed as one issue in a larger framework needed to create a Middle East peace.

“For us, it is very important that the Palestinians commit to seeking an end to the conflict and a finality of any claims,” he said. “We should not isolate this issue of settlements and make it the most important one. It has to be discussed in the context of a larger peace discussion.”

He added, “Many Israelis fear that what Palestinians want is not two states but two stages,” meaning an end to Israel in phases. He also said that by focusing solely on settlement building and not on what the Arab countries should also be doing for peace, Israel felt that it was being driven to its knees and delivered to the other side rather than asked to join a shared effort.

Israel, he said, was eager for a regional agreement that would lead to a state for the Palestinians and security for Israel.

The issue of settlement building has plagued regional peace efforts and Israeli-American relations for decades, ever since the 1967 Middle East war ended with Israel holding vast swaths of land that had been won from its neighbors. In particular, taking the West Bank, previously held by Jordan, fired the collective imagination in Israel because so much of it — including the cities of Hebron, Nablus and Jericho — was part of the biblical Jewish homeland that Zionism sought to reclaim.

There are now nearly 300,000 Israeli settlers living in the West Bank in addition to 200,000 Israeli Jews living in East Jerusalem, also taken in that war. Since the Palestinians hope to build their state in the West Bank, Gaza and East Jerusalem, they accuse Israel of making that goal impossible through settlement building.

Israel says the real problem is Arab rejection of its existence in any borders at all and the rise of violent, radical Islam backed by Iran. When it removed soldiers from southern Lebanon in 2000 and soldiers and settlers from Gaza in 2005, it faced rocket fire from Hezbollah and Hamas.

The Obama administration believes that in order to build a solid regional coalition to confront Iranian ambitions, West Bank settlement building needs to stop as a sign of Israeli willingness to accept a Palestinian state.

Such a demand is part of the “road map” agreed to by the United States, Russia, the European Union and the United Nations, the so-called quartet, and signed by Israel. But the Israelis said they had unwritten agreements with the former Bush administration that defined the freeze more narrowly, as not building new settlements or expropriating more land. Last week the quartet issued its own call for a complete settlement freeze.

The issue is so problematic here partly because the three-month-old government of Prime Minister Benjamin Netanyahu is a largely right-wing coalition with parties that support more settlement building. But Mr. Netanyahu recently accepted the idea of two states and has said Israel would work hard on helping the Palestinians improve their lives in the West Bank.

Mr. Barak said on Sunday that Israel was already making progress on that. It has formed a ministerial committee headed by Mr. Netanyahu aimed at starting economic projects in the West Bank. It has also given the Palestinian security forces greater freedom of action in the past couple of weeks.

Mr. Barak presented such steps as examples of concessions Israel had already made that deserved recognition from Washington and Arab leaders. Among the steps being discussed that Arab nations might take as confidence building measures for Israel are permitting Israeli travelers to transit through their airports, allowing Israeli airplanes to fly in their airspace and creating limited academic and tourist exchanges. Among Arab countries, only Egypt and Jordan have full diplomatic relations with Israel.

In the interview, Mr. Barak suggested that there could be a role for an international Middle East peace conference in the coming months at which all sides would agree to steps and concessions. He said that given Washington’s desire to remove its troops from Iraq and find a way to deal with Iran, this was an auspicious moment for bold regional thinking that could make far-reaching changes, and Israel was eager to play its part.

Read More

In the West Bank, Suburb or Settlement?

MODIIN ILLIT, West Bank, June 29 -- Chaim Hanfling knows a lot about this settlement's population boom. Six of his 11 siblings have moved here from Jerusalem in recent years to take advantage of the lower land prices, and at age 29, he has added four children of his own.

Located just over the Green Line that marks the territory occupied in the 1967 Arab-Israeli war, the booming ultra-Orthodox community, home to more than 41,000 people, shows why the settlement freeze demanded by the Obama administration is proving controversial for Israeli Prime Minister Binyamin Netanyahu and also why Palestinian officials are insisting on it.

Amid their gleaming, modern apartment buildings, with Tel Aviv visible on the horizon, residents say they have little in common with the people who have hauled mobile homes to hilltops in hopes of deepening Israel's presence in the occupied West Bank.

We don't feel this is a settlement," said Hanfling. "We're in the middle of the country. It's like Tel Aviv or Ramat Gan," another Israeli city.

Across a nearby valley, residents of the Palestinian village of Bilin have watched in dismay as Modiin Illit has grown toward them and an Israeli barrier has snaked its way across their olive groves and pastureland. Two years ago, Israel's Supreme Court ordered the fence relocated, but nothing has happened. A weekly protest near the fence, joined by sympathetic Israelis and foreigners, has led to a steady stream of injuries, with protesters hit by Israeli fire and Israeli troops struck by rocks. One villager, Bassem Abu Rahmeh, died in April when a tear gas canister hit him in the chest.

"The court said, 'Move the fence,' so why is he dead?" villager Basel Mansour said as he surveyed the valley between Bilin and Modiin Illit from his rooftop. "Why hasn't it been moved?"

Amid a dispute with the Obama administration over the future of West Bank settlements, Israeli Defense Minister Ehud Barak left for the United States on Monday for talks with White House special envoy George J. Mitchell. Local news reports say he may propose a temporary construction freeze of perhaps three months, though Netanyahu's office said it is committed to "normal life" proceeding.

Of the nearly 290,000 Israelis who live in West Bank settlements, nearly 40 percent reside in three areas -- Modiin Illit, Betar Illit and Maale Adumim -- where the impact of a settlement freeze would probably be felt most deeply.

Debate over West Bank settlements is separate from discussion of Jerusalem, which both Israelis and Palestinians claim as their national capital. The Obama administration has also asked Israel to freeze construction in Jerusalem neighborhoods occupied after the 1967 war.

"The goal is to find common ground with the Americans," said Netanyahu spokesman Mark Regev. "Israel is willing to be creative and flexible."

Palestinian officials said Monday that they will not restart peace talks with Israel until a full settlement freeze is declared.

A trip across the valley outside Modiin Illit shows why the settlements remain a central Palestinian concern.

When the Israeli barrier was built around Modiin Illit, it looped into Palestinian territory -- too far, according to the Israeli Supreme Court, whose 2007 decision said that the route went farther than security needs required in order to make room for more building in the settlement.

Planned additions to the community have since been canceled by the Defense Ministry, which is in charge of construction in the West Bank. Israel Defense Forces Central Command spokesman Peter Lerner said the military has designed a new route for the fence that will return land to Bilin, but has not received funding.

The lack of an agreed-upon border, Palestinian officials and human rights groups said, figures into a variety of problems -- such as the violence that flares regularly between Palestinians and settlers, as well as larger policy matters. The rights group B'Tselem said in a recent report that neither Israel nor the Palestinian Authority is taking clear responsibility for wastewater treatment in settlements or Palestinian towns and villages -- putting local drinking water at risk.

Facing U.S. demands, Israel has said it will take no more land for settlement and has agreed to remove more than 20 unauthorized outposts. But even that has proved slow going. The government recently proposed dismantling the outpost of Migron, a settlement of about 40 families that is under legal challenge for being built on private Palestinian land, by expanding another settlement nearby.

"The individuals in outposts shouldn't be rewarded" for building illegally, said Michael Sfard, an attorney for the group Peace Now who helped prepare a lawsuit against Migron.

In the City Hall of Modiin Illit, such struggles seem part of a different world. Pointing from a hillside to bulldozers busy in one part of town and graded sites ready for building in another, Mayor Yaakov Guterman said the city has 1,000 apartments under construction but is running out of room.

Modiin Illit can't expand to the west, back over the Green Line, he said, because that is a designated Israeli forest area. He said the community should be allowed to spread to the surrounding valley because, in his view, Modiin Illit "will be on the Israeli side" of the border under any final peace deal.

Read More

US on settlements

In the current hullabaloo surrounding settlement construction, one side issue forced center stage is whether the US and Israel ever had tacit agreements on the matter.

Ron Dermer.
Photo: Ariel Jerozolimksi

At issue is whether there was an understanding with the Bush administration that even though the road map called for an end to all settlement construction, including natural growth, Washington and Jerusalem understood that this was not to be taken literally, and that there were certain qualifications that made continued construction possible.

Some, like former US national security adviser Elliott Abrams and Ariel Sharon's bureau chief Dov Weissglas, have said that these understandings did exist. Others, such as US Secretary of State Hillary Clinton and former US ambassador Dan Kurtzer, dispute this, saying that - as Clinton said - "there is no memorialization of any informal and oral agreements."

For some, the issue is academic, of no real consequence now that there is a new administration in Washington which sees things radically differently than the previous one, and which can chart new policy.

Read More

Israel stands firm on West Bank settlements

JERUSALEM (AFP) — Israel will not bow to pressure from Washington to halt settlement activity in the West Bank even for a temporary period, a minister from the governing Likud party said on Sunday.

"The prime minister made it clear in our meeting that there are no understandings and no commitments on the issue of a freeze of construction in the West Bank, not even a temporary one," Yuli Edelstein told AFP.

"We must not reach such a situation," the minister for information and diaspora affairs from Prime Minister Benjamin Netanyahu's right-wing Likud party added ahead of a weekly cabinet meeting.

The remarks came a day before a meeting in London between Israeli Defence Minister Ehud Barak and US Middle East envoy George Mitchell amid friction over the settlement issue between the two close allies.

The White House has repeatedly demanded that Israel halt all settlement activity in the occupied West Bank in order to relaunch peace talks with the Palestinians, who have refused to meet Netanyahu without a complete freeze.

Netanyahu has said his government will not allow new settlements to be built but that the "natural growth" of existing settlements will continue.

The roadmap agreement, adopted by world powers in 2003 and to which Israel is a signatory, requires a complete freeze of all settlement activity, including natural growth, and the dismantling of all settlements built after March 2001.

Barak said he and Mitchell would explore "how to translate the roadmap, which Israel has adopted with some reservations and understandings, into a common way that is agreed upon by us, the United States and other sides."

The presence of 470,000 Jewish settlers in more than 120 settlements scattered across the West Bank, 190,000 of them in annexed Arab east Jerusalem, has long been seen as a major obstacle to the peace process and the creation of a viable Palestinian state.

The international community views all settlements in lands occupied during the 1967 Six Day war as illegal and the Middle East Quartet -- made up of the European Union, Russia, the United Nations and the United States -- has called for a complete freeze.

Read More

Real Estate Professionals

HomePath Real Estate e-news

Subscribe to HomePath's real estate e-news to receive free e-mail about programs, policies, products and events specifically related to the real estate market. To subscribe, click the link below, enter your information, and click "update". You may unsubscribe at any time.

Apply to become an Approved HomePath Listing Agent or Vendor

If you would like information on becoming a Fannie Mae Real Estate Broker, appraiser, repair contractor, eviction attorney, maintenance company, or closing agent/title company click here.
Marketing Materials for HomePath Properties

To help you sell more HomePath properties, get marketing materials (including yard signs and sales flyers) from the HomePath Marketing Storefront.

Read More

HomePath Financing

This special financing is available on Fannie Mae homes with the following logo:

The benefits include:

* Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
* You may qualify even if your credit is less than perfect
* Available to both owner occupiers and investors
* Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
* No mortgage insurance*
* No appraisal fees
* Also eligible for HomePath Renovation Mortgage (see details below)
* HomePath Mortgage financing is available from a variety of lenders - both local and national.

HomePath® Renovation Mortgage Financing

This special financing is available on Fannie Mae homes with the following logo:

Available only on homes you make your primary residence and offers these benefits:

* Financing to fund both your purchase and light renovation
* Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate)
* Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
* No mortgage insurance*
* HomePath Renovation Mortgage financing is available from several lenders.

Read More

co-signer on my VA home loan

It's true that the legally married spouse of a military member or veteran can co-sign a VA loan. There is no "penalty" for doing so, the veteran loan is still fully guaranteed by the VA. Two unmarried military members are also able to co-sign on a VA loan with the same results. When a military member or veteran wants to bring an unrelated, non-military cosigner, the VA allows this with one major exception. The VA guarantee is limited to the amount of the veteran's interest in the property. Some companies won't allow these types of "mixed" loans, so you may have a bit of shopping around to do before finding a lender willing to work with you. If you find yourself in this position, give yourself plenty of extra time to hunt for the right lender.

Read More

VA loan

Veterans who shop around will learn it's possible to get a fixed rate loan, negotiated with the lender of your choice. Another option? The adjustable rate loan, where interest may be adjusted one percent annually, up to five percent over the duration of the loan period. Which to choose? No matter which way you think is best, do your homework, shop around and get the best rate possible. Some make the mistake of taking the first offer that sounds fair, but don't be intimidated by the process. You may be eager to get the "hard part" over with and get into a home. Take some time to research the biggest purchase of your life! When in doubt, consult an expert, a legal advisor or a trusted friend in the real estate business. The more research you do, the better you'll feel at closing time. The VA is in the business of loan guaranty, but the choice of which loan to take is strictly up to you. It's also a good idea to look for businesses who make a habit of cultivating customers who are veterans--you may find their expertise in VA matters quite valuable to reduce unnecessary waiting times on paperwork.

Read More

Mortgage calculator

* Required-income mortgage calculator
Determine how much you must earn to qualify for the mortgage you want.
* How much home can you afford?
Calculate how much you can borrow based on how much you make and how much you owe.
* Interest-only mortgage calculator
The initial monthly payments may be low, but see how they’ll rise when you have to start repaying the principal and interest rate resets.
* Balloon mortgage calculator
Determine what you’re monthly payments will be and how much you’ll owe when the loan is up and the balloon payment comes due.
* Fixed-rate mortgage or interest-only mortgage calculator
See how much less you'd pay with an interest-only mortgage -- at least for the first few years. But you won't be reducing your debt.
* Adjustable rate mortgage calculator
Figure out the payments for any adjustable-rate mortgage. Just enter the amount and terms.
* Rent or buy?
Know when to buy your first home by considering all of the costs and tax breaks.
* Refinance mortgage calculator
Work out how much you could save with a new loan at a lower interest rate.
* Does a cash-out refi make sense?
See what it would cost to consolidate auto and credit card debt into a new mortgage.
* Interest-only, fixed-rate mortgage calculator
Low initial payments give way to higher costs when you must begin repaying the principal.
* Interest-only, adjustable-rate mortgage calculator
Low initial payments give way to even higher costs when you must begin repaying the principal and the interest rate goes up.
* How long: 15 years or 30 years?
Your payments will be higher with a 15-year mortgage but you'll pay much less interest than with a 30-year loan.
* Points or down payment?
Determine whether you're better off buying down your interest rate or using that money for a larger down payment.
* Fixed-rate or adjustable-rate mortgage calculator?
Compare monthly payments to find the right type of home loan for you.
* APR mortgage calculator
The annual percentage rate allows you to compare loans by taking into account their total costs, not just their interest rates.

Read More

RAMS Home Loan

If you are buying your first home, refinancing, self-employed or purchasing an investment property - there's a RAMS home loan to suit you.

RAMS offers flexible and innovative solutions to suit a wide range of home loan needs. How can we help you?
Search per Channel

* I'm buying my first home
* I'm self-employed
* I'm refinancing or looking for a better deal
* I'm investing in property

Search per Type of Product

* Pro Packs
* Low Doc
* No Deposit / Limited Deposit
* Investment
* Transactional / All-in-one
* Line of Credit
* Fixed Rates
* Honeymoon / Introductory rates
* Standard



RAMS Home Loans Range:

* RAMS Limited Deposit – No need to save a full deposit
* RAMS Fast Track – Buy your first home sooner and save on mortgage insurance
* RAMS Fixed Rate - Protect against rising interest rates
* RAMS Easy Start – Enjoy a 3 year home loan honeymoon
* RAMS Rate Relief - A low introductory rate for the first 2 years
* RAMS Basic – The no fuss, low rate home loan with no account keeping fee
* RAMS IO Maximiser – A low rate home loan designed for property investors
* RAMS Line of Credit – Easy access to home equity
* RAMS SmartWay – The “smarter” all-in-one home loan
* RAMS SmartWay Pro Pack – An all-in-one home loan with preferential rates
* RAMS Line of Credit Pro Pack – Access to home equity at preferential rates
* RAMS Fixed Rate Pro Pack - Repayment certainty for larger loans
* RAMS Standard Variable – A standard home loan with free redraw
* RAMS Fixed Rate Low Doc - Repayment certainty and simplified paperwork for the self-employed
* RAMS Low Doc 500 Plus – A preferential rate and low paperwork for the
self-employed
* RAMS SmartWay Low Doc – Low paperwork and smarter money management for the self-employed
* RAMS Line of Credit Low Doc – Convenient access to equity and low paperwork for the self-employed
* RAMS SE Pro Pack – Discounted rates and low paperwork for the self-employed with larger loans
* RAMS Line of Credit SE Pro Pack - Access to home equity at preferential rates, for the self-employed with larger loans
* RAMS Fixed Rate SE Pro Pack - Low paperwork and repayment certainty for the self-employed with larger loans
* RAMS SE Pro Pack 80 - A discounted rate home loan for self-employed clients with total RAMS borrowings of $100,000 or more who wish to borrow up to 80%

Read More

Home Loan Calculators

*

Home Loan Calculator - How much can I borrow?
Find out your borrowing power based on your current salary and existing financial commitments.
*

Home Loan Repayments Calculator
Find out how much your loan will cost you and the monthly repayments.
*

Extra Repayments Calculator
Use this mortgage calculator to find out how much time and interest can you save by paying more than the minimum repayment.
*

Stamp Duty Calculator
Use this home loan calculator to find out stamp duty costs in your state or territory.
*

Basic Loan Repayments Calculator
By using this home loan calculator you can work out what your minimum weekly, fortnightly or monthly home loan repayments would be for the amount you are planning to borrow.
*

Split Loan Repayments Calculator
Splitting your home loan into fixed and variable rate portions can provide you with both security and flexibility. This mortgage calculator helps you work out different options for splitting your home loan.
*

'How Long to Repay' Calculator
Use this mortgage calculator to work out how long to repay your home loan based on your repayments and interest rates.
*

Lump Sum Payments Calculator
How much time and interest can you save by paying a lump sum off your home loan? Find out using this mortgage calculator.
*

Home Loan Comparison Calculator
Compare and contrast home loans from different lenders using this quick and easy home loan calculator.
*

Reverse Mortgage Calculator
Calculate how much of your home equity remains over the period of your mortgage, the mortgage debt accumulated and an estimated future value of your property.
*

Savings Calculator
Regular savings can help you achieve your financial objectives. Work out how much you can save using this mortgage calculator.

Read More

Very Low to Moderate Income Housing Loans

The following is a summary of information about an assistance program or grant available to individuals or families through an agency of the U.S. Government.
To assist very low, low-income, and moderate-income households to obtain modest, decent, safe, and sanitary housing for use as a permanent residence in rural areas.

TYPES OF ASSISTANCE
Direct Loans; Guaranteed/Insured Loans.

USES AND USE RESTRICTIONS
Direct and guaranteed loans may be used to buy, build, or improve the applicant's permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. The property must be located in an eligible rural area. Assistance is available in the States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana's, and the Trust Territories of the Pacific Islands. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available in any Rural Development local office), and are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent of the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an "effective interest rate" as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. Guaranteed loans may be made to refinance either existing RHS Guaranteed Housing loans or RHS Section 502 Direct Housing loans. Guaranteed loans are amortized over 30 years. The interest rate is negotiated with the lender.

ELIGIBILITY REQUIREMENTS
Applicants must have very low-, low- or moderate incomes. Very low-income is defined as below 50 percent of the area median income (AMI), low-income is between 50 and 80 percent of AMI; moderate income is below 115 percent of AMI. Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance (PITI). Qualifying repayment ratios are 29 percent for PITI to 41 percent for total debt. In addition, applicants must be unable to obtain credit elsewhere, yet have an acceptable credit history.

INFORMATION CONTACTS
Regional or Local Office Consult your local telephone directory under United States Department of Agriculture for Rural Development field office number. If no listing, contact appropriate Rural Development State Office listed in Appendix IV of the Catalog or on the internet at http://www.rurdev.usda.gov/recd_map.html.

Headquarters Office Director, Single Family Housing Direct Loan Division or Director Single Family Housing Guaranteed Loan Division, Rural Housing Service (RHS), Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1474 (direct loans), (202) 720-1452 (guaranteed loans).

Web Site Address http://www.rurdev.usda.gov.
Also See:

More Grant ProfilesGovernment Grants: No Free LunchAre You Eligible for Govt. Aid?
Elsewhere on the Web

Catalog of Federal Domestic Assistance
Related Articles

* Very Low Income Housing Repair Loans and Grants
* Low Documentation Loans - How Low Documentation Loans Work
* Student Loan Interest Tax Deduction
* Student Loan Interest Rates Drop
* U.S. Gov Info/Resources - Articles

Read More

Types of Home Mortgage Loans

Basic Types of Mortgages

The articles below explain the most common types of mortgage loans you may encounter as a home buyer. I recommend reading a few articles from this section before you delve into the specific types of mortgages in the articles on down the page.

Types of Home Loans - A Home Buyer's Guide
If you only read one article on this page, make it this one. We cover the different types of home loans in detail, with links to additional resources for each type of loan. It's a "must read" to be sure!

Top 9 Mortgages Explained! Find the Right Mortgage for You
Mortgage terms have you confused? Read on to find the mortgage rate that is right for your financial situation.

Understanding the Different Types of Mortgages
Confused by all the different types of mortgage loans? Want to know which type of mortgage loan is right for you? Then this is the article for you.

Low-Income Home Buying Programs
This page will help you understand low-income home buying programs, and will also point you to helpful resources where you can learn more.

Home Mortgage Buyers: Study the Big 3 Loan Types
To find the best mortgage loan for you, you should study the pros and cons of the three major types of mortgage loans.

First-Time Mortgage Buyers
Buying a home may be the fulfillment of a long-cherished dream, but the entire process of buying can be confusing if you are not well informed.

Mortgages - Types Of Interest Rate
The type of interest you wish to pay will depend on your circumstances and how much you are willing to pay every month. You'll learn in this article that not all interest rates are the same.

Traditional Mortgages are Back in Style
If you purchased your home using a risky adjustable rate mortgage, you might want to consider refinancing.

House Bullet
Fixed-Rate Mortgages

These articles explain the different pros and cons of a fixed-rate mortgage, which (as the name implies) is a mortgage loan that has a fixed / unchanging interest rate over the entire life of the loan.

Choosing Between Fixed Rate and Variable Rate Mortgage Loans
An important decision to make when shopping for a home loan is whether or not you want to have your interest at a fixed rate or at a variable rate.

Fixed Rate Mortgage Loans - Pros And Cons
There are many benefits and drawbacks to consider when deciding if a fixed rate mortgage is right for you. It is important to understand them.

House Bullet
Adjustable-Rate Mortgages

Perhaps you have heard about the ARM loan but aren't really sure how it works. These articles will educate you on all aspects of the adjustable-rate mortgage, also known as an ARM.

Adjustable Rate Mortgage Loans - The Basics
Adjustable rate mortgages (or ARMs) can help you finance the purchase of a home with lower interest rates. But you need to know the whole story.

Understanding the ARM Loan
The adjustable rate mortgage often confuses home buyers. But once you understand the basics of an ARM, it will all make more sense.

Adjustable Rate Mortgages - A Guide to the ARM
Many home buyers choose the ARM loan in order to save money during the first few years of homeownership. But later, these same homeowners run into trouble when the interest rate adjusts.

House Bullet
Balloon Loans

The balloon mortgage is a truly unique approach to home financing. But it can be financially dangerous for the first-time home buyer who does not fully understand it. These articles will give you a thorough understanding of the balloon mortgage loan.

Balloon Home Loans - Be Careful
These days, lenders provide loans tailored to many situations. Balloon loans are one such loan, but carry a serious downside if you’re not careful.

Balloon Or Reset Mortgage Loans - Understanding The Basics
A balloon mortgage, also called a reset mortgage, offers lower interest rates with the option in 5 or 7 years to pay off the balance or resent the loan.

House Bullet
Government-Backed Loans

Mortgage loans that are insured by the U.S. government can help pave the way to home ownership for many home buyers. One of the primary advantages of such a loan is that it allows you to buy a home with a low down payment.

FHA Mortgage Loans - The Benefits of an FHA Mortgage
The Federal Housing Administration (FHA) insures mortgages to help low- to moderate-income families purchase their own home.

A Borrower's Guide to FHA Home Loans
The Federal Housing Administration (FHA) is a government program created in 1934 to make home financing available to more American families. Today, it's part of the Department of Housing and Urban Development (HUD). Basically, they insure home loans made by private lenders.

Why the FHA Loan is Good for First-Time Buyers
Every type of loan has certain advantages and disadvantages to it. After all, there is no such thing as a perfect financing tool. But with that being said, the FHA program is almost perfectly suited for first-time buyers. This article explains the reasons for this, and it also tells you how to apply for this program.

The VA Home Loan Program For Military Veterans
The federal government offers many benefits to men and women who serve their country. One of those benefits is the VA home loan program.

House Bullet
Interest-Only Loans

Interest-Only Home Loans
As the name implies, interest-only home loans are loans that include an option of only paying the interest every month. Read on to learn about them.

Interest-Only Mortgage Basics
Financing your home with an interest only mortgage can save you as much as 25% off your monthly mortgage payments. What is the downside of this type of mortgage and are the risks worth the savings?

Traditional Versus Interest-Only Home Loans
Now that homes sales have slowed and prices have leveled out, will the number of interest-only mortgages also decrease?

House Bullet
Other Types of Loans

Home Equity Loans
This is a popular financing tool for homeowners who want quick access to cash (often for educational costs, home improvement or debt consolidation. But there are some things you need to know before applying for an equity loan, and this article is a great place to start.

Consider a 15-year Mortgage
If you are dedicated to managing your money wisely, you should consider taking a 15-year mortgage. This article explains why.

Reverse Mortgage Loans for Senior Citizens
This type of loan is made against the value of your home, hence the "reverse" terminology. It's similar to a home equity loan but it has unique aspects. This lending tool has become increasingly popular among senior citizens in recent years.

Subprime Mortgage Loans - A Borrower's Guide
Subprime mortgage lending is a relatively new but fast-growing component of the mortgage industry. But buyer beware — subprime lending has been linked to the current rise in home foreclosures. Here's what you need to know.

Subprime Lending Crisis in the U.S.
This crisis of subprime lending has had far-reaching effects. It has also made it harder for poorly qualified home buyers to obtain mortgage loans. So let's take a closer look at the history, development and impact of the subprime mortgage crisis in the United States.

Are 40-Year Mortgages A Good Idea?
A recent analysis of the lending policy of the top 125 mortgage lenders found that approximately 30% were now offering mortgage terms of 40 years of more.

50-Year Mortgage Now Available
Mortgage lenders are offering a new product to assist home buyers in purchasing a home at an affordable monthly payment.

Understanding Jumbo Mortgages
If you are buying a home in a state with high prices, you know financing can be an issue. This brings up the issue of the jumbo loan.

Zero Down Mortgage Loans - First-Time Buyer Programs
A zero down mortgage is a great idea for a first time home buyer. Here is some information on obtaining a zero down mortgage loan.

First Time Home Buyer Loans
Due to the current state of the economy, the so-called first time home buyer loans are becoming a thing of the past. But don't be discouraged by this. While it may be hard to find a specific program that offers loans for first-time buyers, you can certainly qualify for a regular mortgage loan. Just don't expect special treatment from lenders in the current housing market.

Mortgage Modification Programs
There's a lot of talk about loan modification programs right now. There's also a lot of confusion and misinformation. So we created this page to help homeowners understand (A) what home loan modification is all about, (B) which lenders are offering these programs, and (C) where you can go to learn more about each program.

Getting a Home Loan in the 2009 Economy
Are there new rules for getting a mortgage loan in the 2009 economy? Yes and no. The guidelines that have applied to loan qualification in the past will apply in 2009 as well -- but they'll be more strictly enforced. Here's what you need to know about the so-called "new economy."

Read More

Buying a Home

The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!
Nine steps to buying a home

1. Figure out how much you can afford
2. Know your rights
3. Shop for a loan
4. Learn about homebuying programs
5. Shop for a home
6. Make an offer
7. Get a home inspection
8. Shop for homeowners insurance
9. Sign papers

Step 1: Figure out how much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The calculators below can help, but it is best to visit a lender to find out for sure.
- How much home can you afford?
- Buying vs. Renting
- Home Economics

Need help with your downpayment and/or closing costs?
- Homebuying programs in your state

A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that downpayment!
- Find a housing counselor near you
Step 2: Know your rights
- Fair Housing: Equal Opportunity for All - brochure
- Real Estate Settlement Procedures Act (RESPA)
- Borrower's rights
- Predatory lending
Follow this link to go Back to Top
Step 3: Shop for a loan

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.
- Looking for the best mortgage: shop, compare, negotiate - brochure
- Let FHA help you
- Why Ask for an FHA Loan?
- Learn about interest only loans
- Avoid Predatory Lenders
Step 4: Learn about homebuying programs
- Homebuying programs in your state

FHA loan programs offer lower downpayments and are a good option for first-time homebuyers.
- Let FHA help you
- HUD's special homebuying programs
- Good Neighbor Next Door (formerly known as Teacher/Officer/Firefighter Next Door)
- Hurricane Evacuees discounted sales
- Homeownership for public housing residents
- Indian Home Loan Guarantee Program (Section 184)
Step 5: Shop for a home
- Choose a real estate agent
- Wish list - what features do you want?
- Home-shopping checklist – take this list with you when comparing homes
- Homes for sale (including HUD homes)
- "Fixer-uppers" - home purchase and repair programs
- Manufactured (mobile) homes
- Build a home

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.
Follow this link to go Back to Top
Step 6: Make an offer

Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.
- Making an offer
Step 7: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.
- For Your Protection Get a Home Inspection
- 10 Questions to ask a home inspector
Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.
- Homeowners insurance
- 12 ways to lower your homeowners insurance costs
Step 9: Sign papers

You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!

Read More

Home Loan Calculators

How much can I borrow?

Find out how much you can potentially borrow for your home loan or home loans.
How much will my home loan repayments be?

Check what your repayments on your home loan would be.
How much stamp duty will I pay?

Check stamp duty fees and charges depending on which state you are in.
Budget Planner

The budget planner will help you better understand your finances.
How will extra payments reduce my home loan?

See how extra repayments can reduce your interest payment and loan term.
How will a lump sum payment reduce my home loan?

Find out how a lump sum payment can reduce your interest and loan term.
Savings Calculator

This simple calculator lets you work out how to achieve your savings goal.
What will my repayments be using a split home loan?

This calculator will let you determine your repayments.
Home loan comparison calculators

Compare two different home loans to see which will save you more.

Read More

SBI improves its home loan offer

With real estate prices dropping, action is hotting up in the home loan market. State Bank of India (SBI), the country’s largest lender, today said that it had improved upon its home loan scheme and would offer home loans starting at 8 per cent in the first year before rising 100-150 basis points in the second and third years. Earlier, SBI had only fixed interest rates during the first year of the tenure of the loan.

In addition, the bank has offered to levy interest on a reducing balance basis and has waived the processing fee for home loans taken up to September.

Within a few hours of SBI’s announcement, LIC Housing Finance, the country’s second-largest mortgage company, said it was reducing the interest rate on floating rate loans for existing customers by 50 basis points.

The largest mortgage player HDFC has not announced a counter-strategy yet, and said it would lower lending rates if the cost of funds went down. For the moment, the home finance company said its effective rate was lower than what SBI was offering.

SBI, which became the largest home loan originator in 2008-09, said it had floated two schemes — Easy Home Loan and Advantage Home Loan.

Under Easy Home Loan, for those borrowing under Rs 30 lakh, the rate has been fixed at 8 per cent during the first year and would be increased 100 basis points to 9 per cent and fixed at that level during the second and third years.

From the fourth year onwards, the customer could choose between the floating rate option, for which the rate is 200 basis points below the State Bank Advance Rate (SBAR), and fixed rate which is 100 basis points below SBAR, with a five-year reset. At present, SBAR is at 11.75 per cent.

For a 20-year loan, the Equated Monthly Installment (EMI) during the first year would be Rs 836 per lakh and would rise to Rs 898 per lakh over the next two years.

Under SBI Advantage, targeted at upper-end home buyers, during the first year, the rate has been fixed at 8 per cent. It would then be fixed at 9.5 per cent during the second and third years. From the fourth year onwards, the customer can choose between a floating rate at 100 basis points below the SBAR and a fixed rate of 50 basis points below SBAR, with a five-year reset.

For a 20-year mortgage, the indicative EMI for the first year would be Rs 836 per lakh in the first year and would rise to Rs 929 per lakh over the next two years.

SBI said that the reduction in SBAR, announced last week and effective from tomorrow, would lower the effective floating rates for existing borrowers 50 basis points.

According to HDFC’s calculations, for those borrowing up to Rs 30 lakh from SBI, the effective rate worked out to 9.35 per cent a year, while for the mortgage player, the rate was 9.25 per cent.

Similarly, for those borrowing over Rs 30 lakh, the effective rate for SBI worked out to 10.09 per cent a year, while it was 9.75 per cent for HDFC.

Read More

Obama’s Stimulus for Mortgage Refinance and Loan Modification

Britney Spears - The… Circus Not a Girl - Crossro… Paris Hilton Eau de … Repo! The Genetic Op…
Amazon.de
Get WidgetInformation

Obama’s government has appeared up with home refinance stimulus package and loan modification programs to help all the needy owners in avoiding foreclosure. This program is designed accurately for all the borrowers who are adverse financially hardships as they are not in an action to accord the loan. The home refinance stimulus package and loan modification would cover as much as 9 million mortgages same way the government would spend $75 billion for helping the homeowners.

Get Your Loan Modification Now

2key components of Obama’s Stimulus Package that are:

1. Home Mortgage Refinance

2. Loan Modification

Let us converse about these components:

1. Home Refinance Stimulus Package

Fannie Mae and Freddie Mac is the powerful government mortgage refinance lending agencies would refinance the home loans of all the owners who owe much more amount to the bank than the actual value of the house. The only condition for this package is that the mortgage has to be an affirmed by Fannie Mae and Freddie Mac, and again even if you are able to pay the additional amount, you can get advantage of the program.

Get Your Loan Modification Now

But this offer is only valid for the residential properties. And this is the major condition to join the stimulus package. Those who are not living in that property will not qualify for Obama’s home refinance stimulus package.

2. Loan Modification Stimulus Package

Obama’s government is providing special incentives to all the lenders for doing loan modification on the present home loans of the borrowers. The home owners can get free of foreclosure, lower interest rate by getting loan modification stimulus package. The key features of this program would be interest rate reduced and it can go down to 2% only, tenure of the loan would be increased to reduce monthly payment amount and borrowers will get waiver of late fees. With loan modification, Lender will also take care of borrower’s total monthly payments and it would not increase than more of the total monthly gross income.

Read More

Mortgage Choice

The simple way to get the home loan that suits you

Mortgage Choice has helped over 250,000 people make their great Australian dream come true. We want to help you too.
What can we do for you?

For a start, we don’t sell our own home loans. We have a panel of top mortgage lenders who have almost 400 home loan products. Our job is to help you find a home loan that best suits you, and take care of all the running around.

Whether you’re a first home buyer, upgrading or downsizing to your next home, buying an investment property or looking to refinance, your local Mortgage Choice broker will compare home loan and lender options, help you choose a home loan that suits you, and get the paperwork done with the minimum of fuss for you. Want to work out how much you can borrow, or how quickly you can repay your loan? Our range of home loan calculators can give you instant answers.

And the service doesn’t stop with your home loan. We’ll be there with you through every step of the process, right up until you move into your property and beyond.

That’s why we’ve received a whole lot of awards, including the coveted Best in the Mortgage and Finance Industry from our industry association, the MFAA (Mortgage and Finance Association of Australia).

Read More

Rams

Compare our home loans and find a RAMS home loan that's right for you. RAMS is Australia's specialist home loan lender.

• No deposit home loan

  Looking for a home loan where you can borrow the full purchase price? Ask RAMS.
  

• Looking for a low rate on your home loan?

  RAMS Rate Relief home loan offers a 1% p.a. discount off the RAMS Standard Variable Rate (SVR) for the first two years - plus the on-going rate is guaranteed to stay below the RAMS SVR for the life of your loan.
  

• Lower Standard Variable Rate than the big banks

  The RAMS Home Loans Standard Variable Rate is lower than the big banks. If you're on a standard variable rate with one of the big banks, see how much you could save on your home loan.

• Can't pay the rent and save money for a deposit?

  No worries! A RAMS Fast Track Home Loan could be the perfect solution!
  

• Why pay more just because you’re self-employed?

  Not only could RAMS Home Loans range of Low Doc home loans save you money, you’ll also save time with less paperwork and no need to supply full financials. Check out our RAMS SE Pro Pack Home Loan today!
  

• Do you want to get back in control of your home loan?

  Check out our range of home loan refinancing solutions: RAMS Easy Start, RAMS SmartWay Pro Pack and RAMS Basic home loans. Or request an appointment with a RAMS Home Loans specialist today!

RAMS Home Loans News and Articles

• 18/6/09 - First home buyers expect to pay home loan off sooner
  

  RAMS found that first owners expect to pay off their home loan in the next 15 years. Like to be free of your home loan?.
  

• 18/6/09 - RAMS are doing well in the home loan market

  Although the home loan market has been challenging, RAMS’ home loan settlements have reached the highest amount in its 14-year home loan lending history. Find out more about the home loans records achieved by RAMS, click here.
  

• 3/6/09 - RAMS Wins Money magazine’s Non-Bank
  Lender of the Year Award!

Read More

Wells Fargo Home Mortgage

Three Great Reasons to Refinance
Refinancing provides great opportunities for homeowners. Through refinancing, it may be possible to lower your monthly mortgage payments, enjoy the security of a fixed-rate mortgage, as well as to consolidate other debt to a lower interest rate and a single payment.
Plus, there are three great reasons to refinance today!

1. Historically low rates
2. Government programs that may help you in certain situations
3. Streamlined online refinancing available for existing Wells Fargo Home Mortgage customers

Great news for existing Wells Fargo Home Mortgage customers! Our streamlined online refinance checks your eligibility for government programs, as well as for our current online promotions.
We’ll also evaluate your eligibility for any applicable government programs through an online refinance application. We offer:

* No application or appraisal fees
* No closing costs1
* Loan pricing that is locked once your completed application is submitted2
* Possible streamlined refinance with limited documentation requirements


Note: You’ll need to have your loan number and last four digits of your Social Security number handy to start the process.
> Check Eligiblity Now
Not an existing customer?
Explore other refinancing options. Wondering if refinancing makes sense in your situation?
Request a free break-even analysis to see if refinancing is right for you.
> Get a Free Analysis
Declining property values?
Learn about refinance help from government programs
If your outstanding loan balance is greater than the value of your home, the Home Affordable Refinance Program may be able to help you. This government program can help homeowners to refinance even when the outstanding balance is greater than the value of the home.
It’s designed for homeowners who:

* Have Fannie Mae or Freddie Mac held or guaranteed mortgage loans
* Are current on their mortgage payments
* Have been unable to refinance their mortgage loans because the home’s value has declined
* Have an adjustable-rate mortgage (ARM), interest-only or balloon mortgage

Read More

Commonwealth Bank

Buying your first home can be an exciting, yet daunting experience. So let us help you understand the process to prepare for the purchase of your first home.

You’ll find all the support you need to get you into your dream home, with a Home Loan that best suits your needs.

Step by step guide

• Finding your first property
• Financing your home
• The buying process
• Home buying costs

Getting into the market

• 12 month pre-approval
• First Home Owners Grant
• First Home Stamp Duty

Home Loan basics

• Quick guide to understanding Home Loans
• Product comparison table

Read More

Aussie Home Loans

	Aussie Classic Variable	Aussie Classic Plus Variable	Aussie Classic Line of Credit	Aussie Standard Variable	Aussie Express Low Doc
Rate	5.72%^	5.55%^	5.44%	5.55%	5.60%
Comparison rate	5.60%			5.60%**	5.65%**
Application fee	$500	$250	$500	$300	$300

Read More

About the Loan Guaranty Service

The VA Loan Guaranty Service is the organization within the Veterans Benefits Administration charged with the responsibility of administering the home loan program. See an independent evaluation of the Loan Guaranty program here: Final Report | Final Report Appendices

Link To Online Videos for Veterans
Short videos provide information on the VA Home Loan process.

Pamphlets on the VA Home Loan Program
On-line copies of VA Home Loan Pamphlets.

Home Ownership Education for First Time Buyers
Valuable information for first time home buyers from the Ginnie Mae Home Ownership Center.

Frequently Asked Questions
Answers to questions most frequently asked about he VA Home Loan program.

Information on Specially Adapted Housing for Disabled Veterans
Information on the Specially Adapted Housing program for certain seriously disabled Veterans.

VA Regional Loan Centers
Addresses, telephone numbers and websites of our Regional Loan Centers.

Contact VA Loan Guaranty Service
E-mail, phone numbers and website addresses for the Loan Guaranty Service

Interest Rate Reduction Refinancing Loans
Have interest rates fallen since you obtained your VA loan? Do you have an Adjustable Rate VA loan that you want to convert to a fixed rate loan? The IRRRL program, also called the VA streamlined refinancing program, may be for you. No appraisal or underwriting is required and a certificate of eligibility is not necessary.

If You Have Trouble Making Your Payments
If you have a VA loan but are having trouble making your mortgage payments, it is very important that you take steps to avoid a foreclosure. VA may be able to help.

Information for Elderly Home Owners
Information for Elderly Home Owners covers Reverse Mortgages, Interest Rate Reduction Refinancing Loans, and Home Equity Fraud.

VA Direct Home Loans for Native American Veterans Living on Trust Lands
VA direct home loans are available to eligible Native American Veterans who wish to purchase or construct a home on trust lands.

Read More

Home Loans

Refinance
New Customers
Current Customers
1.800.556.9568

Purchase
Home Buying Made Simple
1.800.845.0058

Home Equity
New Customers
Current Customers
1.800.556.9568

Banking
Earn 1.55% APY Internet rate. 12 Month CD. $10k Min. Member FDIC
Earn 1.75% APY Internet rate. 18 Month CD. $10k Minimum Balance
CDs, Money Market Accounts
1.800.817.4383



Loan Products
Refinance
Bank of America has refinance mortgage solutions you could be able to use for debt consolidation or accessing available equity that may have built up in your home. Refinance loans can be used to help with many personal financial situations such as reducing monthly payments, home improvements, college tuition and more. Call today or learn more in our Refinance section.
Home Equity
Home Equity Loans and Home Equity Line of Credits (also known as HELOCs) are solutions for accessing available equity that may be available on your home. This equity could be used for any purpose such as making home improvements or consolidating debt. Call today for a free consultation from a home loan expert or visit our Home Equity section online to utilize mortgage calculators and home loan rate tools.
Purchase
Whether you are a first time home buyer or trading up to a larger home, our sales experts work to find the best home loan solution for you. With products for new home purchases as well as second, vacation, and investment homes, we can help. Learn more online or call now.
Reverse Mortgages
Education is critical and Bank of America is committed to helping seniors make informed decisions and understand their home loan choices.

Read More

How Much Can you Borrow?

Depending on your creditworthiness (your income, credit rating, etc.) and the amount of your outstanding debt, home equity lenders may let you borrow up to 85%* of the appraised value of your home minus the amount you still owe on your first mortgage. Ask the lender about the length of the home equity loan, whether there is a minimum withdrawal requirement when you open your account, and whether there are minimum or maximum withdrawal requirements after your account is opened.

Inquire how you gain access to your credit line -- with checks, credit cards, or both.

Also, find out if your home equity plan sets a fixed time -- a draw period -- when you can make withdrawals from your account. Once the draw period expires, you may be able to renew your credit line. If you cannot, you will not be permitted to borrow additional funds.

Also, in some plans, you may have to pay your full outstanding balance. In others, you may be able to repay the balance over a fixed

Read More