VA Home Loan - ND Department Of Veterans Affairs

VA Home Loan

WHO ARE WE?St. Paul Regional Loan Center1 Federal DriveSt. Paul, MN 55111Phone: 1-877-827-3702 (select option)Loan Production: Option 2Loan Administration: Option 3SAH/SHA: Option 4Construction & Valuation: Option 5Email: rlc335@va.govOTHER REGIONAL LOAN CENTERS Phoenix, AZDenver, COHouston, TXCleveland, OH Roanoke, VASt. Petersburg, FLAtlanta, GAHonolulu, HI*2

VA CONTINUES GROWTHYearTotal ,1152016705,474353,002FYTD 000300,000200,00056%in Total Loansclosed since 201028%in Purchases Loansclosed since 2014100,000020142015Total Loans2016FYTD 17Purchase Loans3

THE VA HOMEOWNER7069 / 10 243,1734

BENEFITS OF A VA HOME LOANLow or No Down PaymentNo PMI/MIPAssumable MortgageFlexible Credit GuidelinesCompetitive Interest RatesQuick Processing Time5

ELIGIBILITY REQUIREMENTSActive Duty 2 years (DD-214, Member Copy 4) 90 days on Title 10 Other than dishonorableNational Personnel Records Center (DD214):http://www.archives.govReserves/National Guard 6 years (Point Statement/Discharge Certificate, NGB 22) HonorableSurviving Spouse Veteran passed away while in service or due to a service connected disability Veteran had certain 100% disability ratings6

OBTAIN A COEVIP: Veterans Information PortalEbenefits Electronic Application vip.vba.va.gov WebLGY Electronic Application www.ebenefits.va.gov 1-800-983-0937- Technical AssistanceLenderVeteran7

OBTAIN A COEMailed In Application VA Form 26-1880 Surviving Spouse 26-1817 https://www.va.gov/vaforms Mail in or fax toFax Number: 215-991-50438

OBTAIN A COEHelpful Hints If the Veteran is not going to be purchasing or refinancing soon, do not order a COE. The Veteran should apply for their COE electronically through their lender. Review docs with Reserve/National Guard Veterans before submitting. Any DD-214 submitted must be for title 10 orders, not active duty for training. 6 years with more than 15 membership points Make sure the Veterans email address in included and legible on the 26-1880 We need the Veterans SSN for Surviving Spouse applicants. Use updated 26-18179

ELIGIBLE PROPERTY TYPESSingle FamilyMulti FamilyCondo/TownhomeManufacturedHomes10

REFINANCE OPTIONSCash-OutRefinanceInterest RateReduction RefinanceLoan (IRRRL)100% LTVMust have existing VAloanFull income/creditunderwritingUnderwriting is notrequiredVA appraisal requiredVA Appraisal notrequiredVeteran can do what he/shewants with the cashGreat Selling Feature!11

tsReconsiderations&Waivers12

HOUSING ADAPTATIONSSpecial Housing Adaptation (SHA) 16,217 (max effective 10/1/2017) Up to 3 uses Loss of extremities, vision impairment, etc.Specially Adapted Housing (SAH) 81,080 (max effective 10/1/2017) Up to 3 uses More extensive disabilities than would qualifyfor SHAPhoto Courtesy of U.S. Army13

LOAN ADMINISTRATIONRoles of Loan Administration Oversight for mortgage servicers Advice and counseling for Veteran’s withdelinquent VA home loans Review servicer claims and propertyacquisition14

HOME RETENTION OPTIONSRetentionOptions RepaymentPlan Forbearance LoanModification VA Refunding15

HOME LIQUIDATION OPTIONSAlternatives to ForeclosureCompromise Sale“Short Sale”Deed-In-Lieu ofForeclosure16

Thank you for serving ourmost deserving!

St. Paul Regional Loan Center. 1 Federal Drive. St. Paul, MN 55111. Phone: 1-877-827-3702 (select option) Loan Production: Option 2. Loan Administration: . Roles of Loan Administration. 15. H. OME. R. ETENTION. O. PTIONS Repayment Plan Forbearance Loan Modification VA Refunding. Retention