RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

VA Loans: What They Are and How They Work

May 27, 2016 1:36 am

Most active-duty service members and veterans and some National Guard members and reservists can seek out home-related loans through the U.S. Department of Veterans Affairs (VA).

VA home loan programs may be used to finance the purchase of homes, condominiums or manufactured homes, refinance an existing home loan, or install energy-saving improvements. The three main types of guaranteed home loan benefits are:

• Purchase Loans
• Cash-Out Refinance Loans
• Interest Rate Reduction Refinance Loans

Qualified vets need suitable credit, sufficient income and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. Private lenders underwrite and fund VA home loans according to VA standards. VA’s partial guaranty for these loans means that nearly 90 percent of all VA-guaranteed home loans are made with no down payment required.

If a VA-guaranteed loan becomes delinquent, the VA will work with the borrower to avoid foreclosure, including providing financial counseling and, in some cases, direct intervention with a mortgage loan servicer on the borrower’s behalf.

Any veteran or service member having difficulty making mortgage payments should call (877) 827-3702 to speak with a VA Loan Technician. More information about avoiding foreclosure can be found at: benefits.va.gov/HOMELOANS/resources_payments.asp.

Native American veterans who want to live on Federal Trust land can seek assistance through the VA’s Native American Direct Loan (NADL) program, which provides direct loans to eligible Native American veterans for the purchase, construction or improvement of a home.

The VA also offers grants to veterans with certain service-connected disabilities to build an adapted home or make modifications to an existing home. Three types of grants exist: Specially Adapted Housing, Special Housing Adaptation, and Temporary Residence Adaptation.

Homeless veterans, or those at imminent risk of becoming homeless, are urged to contact their local VA medical center, call (877) 424-3838, or visit va.gov/homeless.

Consult your real estate professional to learn more about the VA’s home-related services, or visit explore.va.gov/home-loans-and-housing.

Published with permission from RISMedia.


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Wanderlust: 10 of the Most Beautiful Places in the World

May 26, 2016 1:36 am

Got the travel bug? Hop on a plane overseas to (or just daydream about!) these beautiful places, recently rounded up by Harper’s Bazaar:

Amalfi Coast – Hugging the coast through a succession of idyllic small towns like Positano, this eye-opening seaside escape in Italy offers postcard views at every turn.

Bora Bora – With its turquoise lagoons, coral reefs and overwater bungalows, this French Polynesian island is heaven on Earth.

Fiordland National Park – In early winter, fields of purple bloom across this park on the South Island of New Zealand, home to the breathtaking Milford Sound.

The Forbidden City – One of the most beautifully-preserved examples of ancient Chinese architecture, The Forbidden City in Beijing has served as the imperial palace for five centuries.

Japan (in Cherry Blossom Season) – Cherry blossoms steal the scene during blooming season, making it an ideal time to visit the Land of the Rising Sun.

Krabi – A popular beach destination on the west coast of southern Thailand, Krabi is dotted with limestone cliffs and hundreds of islands just offshore in the Andaman Sea.

Marrakesh – Located at the foot of the Atlas Mountains in Morocco, Marrakesh has changed little since the Middle Ages. Wander through maze-like alleyways and discover the city's souks, palaces and gardens.

Oia, Santorini – The hillside town at the far tip of Santorini in Greece boasts brilliant sunsets, accommodations built into the cliffs, and magnificent views of the Aegean sea.

Tamil Nadu – This southern India state is home to most of the country's major Hindu temples, including the Sri Ranganathaswamy Temple and the Meenakshi Temple Complex.

Torres del Paine National Park – Truly off the grid, this park in the Patagonia region of Chile features jaw-dropping mountain views from every angle.

Which of these locales makes your list?

Published with permission from RISMedia.


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