- * Do continue making your mortgage or rent payments
- * Do stay current on all existing accounts
- * Do keep Working at your current employer
- * DO continue to use your credit as normal
- * DO call us if you have any questions
- * DO NOT make a major purchase ( car, boat,fur, jewelry, etc)
- * DO NOT apply for new credit ( even if you seem pre-approved)
- * DO NOT transfer any balances from one accont to another
- * DO NOT pay off charge offs or collections without a discussion with us first
- * DO NOT buy any furniture
- * DO NOT change bank accounts
- * DO NOT max out or over charge on your credit card accounts
- * DO NOT Start any home improvement projects
- * DO NOT Finance any elective medical procedure
- * DO NOT open a new cell
What should I do? What is happening in the fiancing marketplace?
There are currently 2 blog entries related to this category.
McLean Mortgage constantly gets asked “Can I have two VA Loans?” The answer varies depending on the situation. It depends on the amount of entitlement and the loan amount.
There are two types of entitlements – basic and the bonus entitlement. The basic VA entitlement is $36,000. Every eligible veteran also receives a “bonus” entitlement which is much more than the basic. The bonus entitlement kicks in for VA loan amounts over $144,000.00. Essentially the entitlements can be used for any loan amount without a cap. There is however, a limit on the amount the VA will guarantee. This is based off the VA county limits. If you’re county limit is $417,000 than the VA will only guarantee a loan for $417,000 and nothing more. Both entitlements can be used in…