VA Home Loans – How Long Do Items Stay On My Credit – Washington State VA Loans

VA Home Loans How Long Do Items Stay On My Credit – Washington State VA Loans

Negative information in your credit report is removed automatically at times specified by the Fair Credit Reporting Act. Here is a brief listing of the most common types of information in a credit report and when it will be deleted:

  • Open accounts with no negative payment history: remain indefinitely as long as they are open and active.
  • Closed accounts with no negative payment history: remain 10 years from the date they are closed. Positive accounts remain on your credit report longer than negative accounts.
  • Late payments remain seven years from the original delinquency date. A single late payment is deleted at seven years. If there was a series of late payments (not paid at 30 days, or 60 days, or 90 days) and then brought current, the payments would be deleted seven years from the first one missed in the series. If the account was never brought current and charged off and placed for collection, the entire account will be deleted based on the date the account became late and was never again current. This is known as the original delinquency date.
  • Collection accounts remain seven years from the original delinquency date of the original account. Collection accounts are treated as a continuation of the original debt and are deleted at the same time.
  • Chapter 13 bankruptcy is deleted seven years from the filing date because at least a portion of the debt is repaid. Chapter 7 bankruptcy remains 10 years from the filing date because none of the debt is repaid.
  • Civil judgments remain seven years from the filing debt. A civil judgment is essentially a debt you owe through the court.
  • Unpaid tax liens remain 10 years from the filing date. Once paid, the lien will remain seven years from the paid date.
  • Inquiries: remain two years from the inquiry date. However, the impact of inquiries on credit scores is minimal and decreases rapidly.

Note that, except for tax liens, making a payment or any other activity on the account will not impact these rules.

Source: http://www.experian.com/blogs/ask-experian/2013/08/28/when-negative-information-will-be-removed-from-your-credit-report/

VAHome Loans HeaderQuestions on your Washington State VA Home Loan – Call the VA Home Loan Pro’s at 253-472-1500 or visit us online at www.vahomeloans.com.

Posted in BECU VA IRRRL, BECU VA Loans, Lacey WA VA Home Loans, Ocwen VA IRRRL, Puget Sound VA Loans, Seattle VA Lenders, Seattle VA Mortgage Rates, Seattle WA VA Home Loans, Tacoma VA Mortgage Rates, USAA VA IRRRL, USAA VA Loans, USAA VA Streamline, VA Cashout Refinance, VA Home Loans BECU, VA IRRRL Flagstar, VA Loan Bremerton, VA Loans DuPont, VA Loans Federal Way, VA Loans Lacey, VA Loans Lakewood, VA Loans Navy Federal, VA Loans Tacoma, VA Streamline BECU, VA Streamline Refinance Tacoma | Tagged | Leave a comment

Congrats Ricky & Jean on your new home in Renton WA using your VA home loan benefits!

Congrats Ricky & Jean on your new home in Renton, WA using your VA home loan benefits! Call the local VA home loan pro’s at VAHomeLoans.com for help with your VA loan in Washington State!  We Shop, You Save!

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When other banks say NO! VAHomeLoans.com can find a way to say YES!  In this case, a large VA lender said they could not purchase for 6 more months due to their VA guidelines.  They decided to call around and found us online.  After a brief conversation and reviewing their file, we found a great lender and closed on this beautiful home in just 34 days!

Let’s get started finding your dream home, call 253-472-1500 or visit us online at www.VAHomeLoans.com Washington State’s #1 Source for VA Home Loans.

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Congrats Hermie & Julita on your new Lakewood, WA home using your VA loan

Congrats Hermie & Julita on your new Lakewood, WA home using your VA loan.  Use your VA home loan benefits in Washington State to purchase a home like this.  Sales price: $144,275 VA loan monthly payment $890.59 @ 3.875% fixed (3.974% APR) including property taxes and homeowners insurance.

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Looking for a local VA mortgage lender that can help you get pre-approved to purchase a home in Washington State?  Call the local VA Experts at VAHomeLoans.com Serving Northwest Veterans since 1996.  Great Rates, Fast Closing!   253-472-1500 ask for Kevin

 

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VA Rates hit 16 month low in Washington State – Time to consider a VA IRRRL

With rates dropping to a 16 month low, now may be a good time to consider a refinancing option called the VA IRRRL for properties in Washington State.  This program makes the process super simple, with no appraisal, no income qualifying, no asset verification, and a quick closing time frame.  Ask about the “My Loan Balance Stays The Same” program where we let the lender pay all of the fees associated with refinancing!  This option can make reducing your rate by .50% – .75% a viable option.

VAHome Loans HeaderFor more information on the VA IRRRL program in Washington State, call VAHomeLoans.com at 253-472-1500 or visit us online at www.vahomeloans.com.

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Washington State VA IRRRL Manufactured Home – Congrats Richard & Gail!

Lmanufactured homeooking for a Washington State based lender than can do a VA IRRRL on a manufactured home?  Give the local pro’s a call at VAHomeLoans.com – We can help!

Richard & Gail were looking for a low-cost option to reduce the interest rate on their current VA manufactured loan.  We were able to help with our “MY LOAN BALANCE STAYS THE SAME” VA IRRRL program.  The lender pays all the fees associated with the VA IRRRL loan in some cases the new loan will actually be less than your payoff balance.  In this case the new loan amount was $599.67 lower than their payoff balance.  So not only did they reduce their monthly payment by $261 dollars per month (4.25% rate with 4.276% APR), they will skip one monthly payment, plus get a refund back of their current escrow account.  Good job for searching around for a local VA expert, that can save you money!

Have a question on the VA IRRRL program in Washington State?  Call the VA IRRRL pro’s at 253-472-1500 or visit us online at www.VAHomeLoans.com Washington State’s #1 Source for VA Home Loans.

Posted in Bank of America VA IRRRL, BECU VA IRRRL, Chase VA Streamline, Ocwen VA IRRRL, Seattle VA Mortgage Rates, US Bank VA IRRRL, USAA VA IRRRL, USAA VA Streamline, VA Cash Out Refinance Washington State, VA Cashout Refinance, VA IRRRL Flagstar, VA IRRRL Manufactured Home, VA IRRRL Manufactured Homes, VA IRRRL Wells Fargo, VA Loans Lacey, VA Loans Lakewood, VA Loans Ocwen, VA Loans Olympia, VA Streamline BECU, Veterans United Home Loans, Wells Fargo VA IRRRL | Leave a comment

Congrats Joel & Ashlee on your new home in Seattle – Seattle VA Home Loans

 Congrats Joel & Ashlee on your new home in Seattle – Seattle VA Home Loans

Joel was transferring down with the Coast Guard from Alaska and was searching around for a local lender that specialized in VA Home Loans.  Joel contacted us and after our initial phone conversation, we started with the pre-approval process.  Joel & Ashlee found this home on May 5th, 2014 and we closed on May 28th, 2014.

We were able to secure a VA 30 year fixed rate loan at 3.75% (4.096% APR) for their VA home loan.

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Looking for a local mortgage company based in Washington State that specializes in VA Home Loans, call 253-472-1500 or visit us online at www.vahomeloans.com.

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Posted in VA Loan Seattle, VA Loans DuPont, VA Loans Federal Way, VA Loans Lacey, VA Loans Lakewood, VA Loans Olympia, VA Loans Puyallup, VA Loans Spanaway, VA Loans Tacoma, Washington State VA Home Loans, Washington State VA Loans | Leave a comment

VA Home Loans Puget Sound University Place WA – Mortgage Rates

applynowHolt PicThis beautiful home located in University Place just sold for $356,000.  

The buyers used their VA loan benefits and were able to secure a 30 year fixed rate loan at 3.75% (3.972 APR).  The entire VA home buying process took a little over a month to close from the time the purchase and sale agreement was signed to the closing of escrow.  Are you ready to get pre-approved for a VA Loan?  It’s a fast and easy process!
Call today, 253-472-1500

Looking for a local VA mortgage professional to assist with the financing of your new home?  Our lending partners pay our loan origination fees, saving you thousands off closing cost with our “lender paid” closing cost option.  Compare our rates to BECU, Wells Fargo, and Veterans United.  Feel free to call or visit our main website at www.VAHomeLoans.com Washington State’s #1 Source for VA Home Loans – Serving Military Members since 1996

Posted in BECU VA Loans, Puget Sound VA Loans, Seattle VA Mortgage Rates, VA Loan Bremerton, VA Loan Seattle, VA Loans DuPont, VA Loans Federal Way, VA Loans Lacey, VA Loans Lakewood, VA Loans Olympia, VA Loans Olympia. WA, VA Loans Puyallup, VA Loans Spanaway, VA Loans Tacoma, Veterans United VA Loans, WA VA Home Loans, Washington State VA Home Loans, Washington State VA Loans, Washington VA Appraisal Fee | Leave a comment

The Power of a Home!

Posted in WA VA Home Loans, WA VA Loans, Washington State VA Home Loans, Washington State VA Loans | Leave a comment

VA Home Loan FAQ’s in Washington State

FREQUENTLY ASKED QUESTIONS – VA Home Loans 

What Does Having Basic Entitlement of $36,000 Mean?

The $36,000 does not represent the maximum loan amount you can obtain through the VA Home Loan Program. The figure merely provides evidence to your lender that you have full VA entitlement. With this entitlement and underwriter approval, you can obtain a loan in an amount up to $417,000; some high cost counties have even higher limits.

Washington State 2014 VA Home Loan limits: http://vamortgagesource.com/new-va-loan-limits-in-washington-state-for-2014/

I Now Have My COE, What Do I Do Next?

Contact any VA approved lender and start the loan process. Do note that the COE does not guarantee you a VA loan; you still must qualify based upon your income and credit.

How Do I Apply For a Loan?

VA does not do any direct lending, and as such VA does not accept loan applications from veterans. You must contact a VA approved lender in order to apply for a VA loan. For more information about VA loans, visit www.benefits.va.gov/homeloans/.

How Do I Find a VA Approved Lender?

VA does not provide a list of approved lenders; it is up to the veteran to decide which lender they wish to use to obtain their loan. The Internet or real estate agents are ideal sources for locating and performing customer satisfaction research on VA lenders.

What is the VA Interest Rate?

VA does not establish interest rates or closing costs for VA loans. Rates are negotiable between you and your lender. It is advisable to obtain quotes from at least three different lenders.

What is the Minimum Credit Score Required for a VA loan?

VA has no minimum credit score requirement. However, the lender you choose to do business with may have such a requirement.

What Types of Property Does My COE Cover?

The VA Home Loan program guarantees loans for real property that is to be used by the veteran as a primary residence. The program does not cover vacation homes, vacant land, multiplexes in excess of four units, motor homes, small business loans, or commercial buildings.

Can I Use My VA Entitlement to Refinance?

Yes. You can refinance any type of loan on your property using your VA entitlement. Contact a VA approved lender for details.

Why Does My COE Reflect a Paid-in-Full Loan With No Restoration of Entitlement? 

In order for entitlement to be restored, the prior VA loan must be paid in full and the property disposed of. If you no longer own the property, please state as such on your application form 26-1880 and resubmit. Do note that you can obtain a restoration of entitlement without disposing of the property when the loan is paid in full on a one time basis.

VA People Logo2For additional information about the VA home loan program in Washington State, call Kevin Tinsley at VAHomeLoans.com 253-472-1500 or email at kevin@vahomeloans.com.

 

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Congrats Sidney & Anne on your VA 100% Cash Out Refinance in Washington State

Congrats Sidney & Anne on your VA 100% Cash Out Refinance in Washington State!

Sidney and Anne were searching online for a local Washington State based VA mortgage company that could assist with a higher loan to value VA cash out refinance.  The lender they started with was limited to 90% loan to value.  They were paying off a Bank of America mortgage on another property and needed the additional funds to accomplish their goals.  Taking just a little over 30 days, we closed and they were able to consolidate these debts.

Looking for a local VA mortgage expert, right here in Washington State with over 27 years of mortgage lending experience to help you?

VAHomeLoans.com - All Tech Mortgage Inc. Your Washington State VA Home Loan Experts since 1996.  Locally based in Tacoma, WA (near Joint Base Lewis McChord) we are proud to serve our active duty and retired military members with their VA home loan needs. By focusing exclusively on VA loans, we offer a streamline loan process form pre-approval to closing. Plus our VA Mortgage Rates are typically .25-.50% lower than most National, Regional and local VA lenders.  We offer true wholesale pricing from some of the top VA mortgage lenders in the country.  Take the first step and contact us today to learn more about your VA Home Loan benefits.  

Address & Driving Directions:
VAHomeLoans.com – Proud to Serve, You!
7403 Lakewood Dr W, STE 2, Lakewood, WA 98499

Voice: 253-472-1500
Fax: 866-421-1788

Email: kevin@vahomeloans.com

 

Posted in Bank of American VA loans, BECU VA Loans, Seattle VA Lenders, Seattle VA Mortgage Rates, Seattle WA VA Home Loans, Tacoma WA VA home Loans, VA Cash Out Refinance Washington State, VA Home Loans, VA Home Loans BECU, VA Loan Bremerton, VA Loan Seattle, VA Loans, VA Loans DuPont, VA Loans Federal Way, VA Loans Lacey, VA Loans Lakewood, VA Loans Ocwen, VA Loans Olympia, VA Loans Olympia. WA, VA Loans Puyallup, VA Loans Spanaway, VA Loans Tacoma, VA Loans WA, Veterans United VA Loans, WA VA Home Loans, WA VA Loans, Washington State VA Home Loans, Washington State VA Loans, Wells Fargo VA Loans | Leave a comment