VA Jumbo Loans

US Bank, VA loans-They do not allow property flips inside of 90 days.  Please also remember their higher guaranty requirements (higher down payments than normal) on VA loans >417K (the pricing engine cannot account for this)

April 2012 Updates:

-          Our rate is 3.5% on 30-year fixed rate loans (slightly higher if using the 0% $8,000 DAP).

-          Do you offer FHA 203(k) loans?  We now allow our $8,000 DAP to be combined with eligible 203(k) loans and FirstHome.  Our website has rates for the 203(k) program as a new feature!

-          $14,900 down payment funds for foreclosures/REOs.  We still have some remaining funds from the NSP program – a 5-year forgivable loan for buyers of foreclosed properties.  Contact us
            for eligibility guidelines, counties, and program details.

-          We offer Recapture Reimbursement for FirstHome borrowers who may worry about the possibility of recapture (recapture doesn't impact most borrowers).  A copy of the Memo is on our website
            at www.nchfa.com.   Please feel free to share with your borrowers who might worry unnecessarily about recapture.

-          Tax credits up to $2,000 a year – learn more about our Mortgage Credit Certificate Program?  Download the MCC Manual from the “lenders” section of our website. The MCC program is a great benefit for
            veterans and first-time home buyers!

-          Credit scores down to 600!  (650 if using DAP).

-          Our underwriting turn times are 24/48 hours!

Thank you again to everyone who uses our programs – we appreciate it!  Feel free to reach out to us if you would like help with a loan, explaining our program to a borrower, or answering any questions.

Best regards,

Rob Rusczak, Manager of Home Ownership Lending

Underwriter Contacts:

Donna Pruitt (dmpruitt@nchfa.com)
Cathy Hatcher (chatcher@nchfa.com)
Kat Driscoll (kjdriscoll@nchfa.com)