Tag Archives: Military Loans

Veteran Appreciation Event

Veterans Appreciation Night, Friday, March 24th. Memorial Concert for Benjamin “Squirrel” Kelley.  For details on the even click on the attachment / image below.

Come out and show your appreciation and support for our Veterans. Donations will go to Foundation for Exceptional Warriors.

Thank you to Damien Gunn Band for creating this event and bringing awareness.

Please share this post with your friends in K.C. so the turnout is huge!

On a side note: As a mortgage broker (22+ years) if you connect me with a borrower and notify me of this. I will make a donation to Foundation for Exceptional Warriors after closing.

I am part of Boots Across America and Certified Military Home Specialist with VA Loans.

Home-Buyer Handbook

Buying your new home can be overwhelming and confusing.  In my 19 years as a mortgage broker I see first hand this confusion.  I found some material I put together that will assist you.

I am sharing a E-Book that will help release some of the confusion of the home-buying process.

Click this link for a copy of:

Cindys Home-Buyers-Handbook 2014

After downloading the Home-Buyers Book I would suggest saving it for future reference.  Then sit back breathe and relax as you read this book.

Please share with your family and friends!

Blessings,

Cindy Seely

NMLS # 245378, Mo 10-1649-MLO, Ks 0009720

Homebuyers Reduce your Stress and Make a More Solid Offer to the Seller with a TBD Approval!

First to clarify TBD – To Be Determined; meaning the property has yet to be found or under contract.

Many buyers think they need to find a house before getting “Approved” for a mortgage.  That is NOT True!  In reality the majority of the underwriting process can be done before finding your new home with a TBD file.

Buying a home can be stressful from negotiating the sales price of the home to the loan and underwriting process.

The solution to reducing the stress:  a TBD Approval!  There is a big difference between getting “Pre-Approved” from a lender and having an “Approval”.  And it will carry more weight with the seller and seller’s agent when making an offer.

TBD Process: signing disclosures, providing supporting docs i.e. income, assets etc.  The file is then submitted to the lender.  Your file will be completely underwritten by an underwriter and fully approved.  Then you will go out and find your new home.  J

When you find the home you want you will then negotiate with the seller on a price which you both agree on.  In the negotiation process you will provide the seller with an “Approval Letter” which carries more weight than a “pre-approval” letter since the underwriter has already seen, analyzed and accepted your credit report, income and assets.

Once you have a property under contract the only thing that the underwriter will require is specific information on the property: appraisal, title, homeowners insurance, inspections etc.

TBD’s are a HUGE benefit to the buyer, seller, Real Estate Agents.

#1.  Buyers have more confidence and less stress knowing that the underwriter has viewed, confirmed and approved their financial picture.

#2.  Sellers have less fallout when dealing with TBD approvals and TBD buyers are held in higher esteem than buyers who have only been “Pre-Approved”.

#3.  The benefit to Buyer, Seller and Real Estate Agents knows that the process will be smoother and take less time to close the sale.  Time needed to close will be reduced by 2 -3 weeks!

How do you get TBD approved and enjoy these benefits? Contact Me at:  (816) 728-1384 or Cindy@CindySeely.com

I can provide TBD’s on Conventional, VA, FHA and USDA Loan Products.  Hot Happy Couple

 

If you have any questions please don’t hesitate to ask and I will answer.

Blessings,

Cindy Seely

NMLS # 245378, Mo 10-1649-MLO, Ks 0009720

Hello U.S. Veterans

First off if you are a U.S. Veteran that served this country I want to say “Thank You” I appreciate your dedication in protecting and serving this Country.

If you are a Veteran, with an existing VA Mortgage, you are entitled to refinance that property with a VA Streamline Refinance program, also known as an Interest Rate Reduction Refinancing Loan (IRRRL).  This VA IRRL as we will call it from here on out in this blog allows you to lower the interest rate on your VA mortgage with few or no out-of-pocket costs.

It must be a VA to VA refinance, and it will reuse the VA Certificate of Eligibility.

The VA IRRL is the probably the best option for you if you want to refinance your existing loan with a lower interest rate and monthly payment. .

The biggest VA requirement for the VA IRRL is that you lower your current rate to a lower rate or converting an ARM to a fixed rate.

Benefits of a VA IRRL: 

  • You Will NOT need to provide bank statements, W2s or paycheck stubs
  • You cannot receive any cash at closing
  • Refinancing without an appraisal is possible
  • You must be current on your existing VA mortgage and not have had ANY 30-day late(s) on your mortgage the last 12 months.
  • An IRRRL can be a fixed rate loan or an adjustable rate loan.
  • An IRRRL must be at a lower interest rate than your current mortgage loan unless you are refinancing from an adjustable rate mortgage loan.
  • The VA has a funding fee of one-half of one percent of the loan amount which may be paid in cash or included in the loan.

Bonus of a VA IRRL:

  • Within 30 days of closing, you will receive the money that was held in your old escrow account because a new escrow account will be set up with your new loan

No loan other than the existing VA loan may be paid from the proceeds of an IRRRL.  If you have a second mortgage, the holder must agree to subordinate that lien so that your new VA loan will be a first mortgage.

A VA IRRL can be accomplished faster and with less documentation than a typical home refinance loan.  Do you currently have a VA Loan?  Do you want to reduce your monthly mortgage payment?  What are you waiting for…? Contact Me and let’s get started with reducing your monthly debt by refinancing you in a VA IRRL.

Blessings,

Cindy Seely

Senior Loan Analyst

(816) 728-1384

NMLS # 245378, Mo No. 10-1649-MLO, Ks No. 0009720
360 Mortgage Inc., 28 Westwoods Drive, Liberty, Mo 64068
NMLS # 80777

Department of Justice Stands up for the Veterans!

Recently I have heard several stories where “Active” military personal have had their homes foreclosed on and it irritates me greatly!  I mean think of the stress levels that both spouses experience during the foreclosure process; not to mention the family having to move during a time that the husband / wife and dad is fighting overseas.  That is heartbreaking.

First off how can the bank foreclose on someone who is actively serving this country?  Second off in most situations foreclosing on an active military person is breaking the Service Members Civil Relief Act (SCRA) formally Soldiers & Sailors Civil Relief Act (SSCRA).  So why have the “Banks” been foreclosing on the one’s serving this country?  They must have been ignorant to the laws! Not to mention sitting there and clicking their computer screen to begin the foreclosure process while the veteran is putting his life on the line to protect this country.

Great news today!

The Department of Justice has made a stand for those military people! Thomas Perez, Assistant Attorney General for the Civil Rights Division said “The men and women serving our nation should not have to worry about a bank foreclosing on their home while they bravely serve our country,” BAC Home Servicing will pay a total of $20,000,000 as compensation for those military people who were illegally foreclosed on.

Military personnel whose homes were improperly foreclosed upon will each receive at least $116,875 from BAC Home Loans Servicing, a subsidiary of Bank of America, for the bank’s alleged violation of the (SCRA).   For details o the SCRA law http://www.military.com/benefits/content/military-legal-matters/scra/servicemembers-civil-relief-act-overview.html

I hope we all continue to stand up and support those serving this country.

Blessings,

Cindy Seely

P.S. yes I do VA loans

Senior Loan Analyst

(816) 728-1384

NMLS # 245378, Mo No. 10-1649-MLO, Ks No. 0009720
360 Mortgage Inc., 28 Westwoods Drive, Liberty, Mo 64068
NMLS # 80777