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My Top 3 VA Loan Myths—Debunked! Over the years, I’ve seen some common misconceptions about VA loans that keep veterans from maximizing their benefits. I know the answers to these myths but forget others are still not as informed. These are my personal top three most common myths I still encounter. ???? ?? Myth #1 – You can only use your VA loan benefits once. ? Fact: Many veterans believe that once they’ve used their VA loan, they can’t use it again. Not true! You can use your VA loan multiple times with remaining or restored entitlement. Just this week, I spoke with a veteran who thought he could only use the VA IRRRL (Interest Rate Reduction Refinance Loan) once—another myth! You can refinance multiple times when it makes financial sense. ?? Myth #2 – VA loans take forever to close. ? Fact: VA loans don’t have to be slow. We can get your loan conditionally approved before you even find a property, meaning the main waiting period is just for the appraisal. I’ve personally closed VA loans in under 18 days! ?? Myth #3 – VA loans are too picky about properties. ? Fact: While VA loans have property standards, they’re no stricter than FHA or even some Conventional loans. The goal is to protect veterans from purchasing homes with serious safety, sanitation, or structural issues—not to make things harder for buyers. Veterans: Don’t let these myths hold you back! If you have questions, I’m happy to help. Drop a comment or send me a message! #VALoan #Veterans #HomeBuying #VALoanMyths #MortgageTips #VAIRRRL

Reading this article should be part of preparing to buy a home with an FHA loan. #homesales #realestate

Reading this article should be part of preparing to buy a home with an FHA loan. #homesales #realestate

2025 Loan Limits for Illinois increased. You can now borrow more when buying a home without needing a jumbo loan, which usually has a higher rate and requires a larger down payment. The limits are the same throughout the state, so you don't need to adjust your expectations based on location alone. Conventional Conforming Loan Limits 1-unit: $806,500 2-unit: $1,032,650 3-unit: $1,248,150 4-unit: $1,551,250 FHA Loan Limits 1-unit: $524,225 2-unit: $671,200 3-unit: $811,275 4-unit: $1,008,300 https://hubs.ly/Q033CR5j0 #loanlimits #chicagohome #chicagorealestate

Since 2007, I’ve been specializing in VA loans—it’s been one of my favorite things to do helping the military community with home ownership. not something I pivoted to with market changes. If you ever have questions, don’t hesitate to tap me. One topic I wanted to share today: Did you know VA loans are assumable? This is an incredible benefit, especially in today’s higher rate environment. But here’s the kicker—not all mortgage servicers handle VA loan assumptions the same way. In fact, some lenders don’t allow VA loan assumptions at all. Their requirements, processes, and timelines can vary widely. To help you and your clients navigate this, I’ve put together a quick cheat sheet of key questions to ask the mortgage servicer: ?? Do you allow assumptions? ?? What’s your turn time? ?? What’s your policy for funding the difference? ?? Do you automatically issue the release of liability? ?? What documents do you require? VA loans come with some fantastic benefits, and assumptions can be a powerful tool in the right scenario. Plus, don’t forget about the VA streamline refi (IRRRL) as a way to secure a lower rate. If you have any questions about VA loans or need guidance for your clients, I’m just a call or message away. #VAloanspecialist #Realtors #VALoans #IRRRL #AssumableLoans #PenFedRealty

Ready to jump into buying a home but concern over mortgage payments have you treading water? PrimeLending’s Summer Splash Buydown program lowers your mortgage payments for the first year. That makes buying a home more affordable. This 1-0 temporary buydown* uses funds we deposit in an escrow account to effectively reduce your interest rate for the first year of your FHA, VA or USDA mortgage. Lower payments in the first year of homeownership can help you manage your budget and prepare for when your payments return to a standard fixed rate after the first year. Plus, with PrimeLending, you’ll pay No Lender Fees** on VA loans! I’m available to talk you through all the details. Contact me today and mention promo code SUMMER SPLASH to get started. *BuyDown 1-0 Option will be paid by PrimeLending. Rate discount applies only to first year. Must apply for and lock loan through PrimeLending by 8/31/24 and loan must close by 12/31/24. Savings will reflect on the Closing Disclosure. Offer only available for FHA, VA, and USDA purchase loans. Excludes bond, broker, conventional products, high balance, jumbo products, portfolio products, construction loans, and refinances. Offer can be paired with PrimeLending VA No Lender Fees promotion, all other promotions are excluded. Certain loan programs do not allow buydowns. Additional restrictions may apply, contact a PrimeLending loan officer for details. **All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding fee, title, and appraisal etc. Down payment waiver is based on VA eligibility. This offer is valid until 12/31/2024. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer or bond program other than the Summer Splash Buydown Promotion listed on this flyer. Savings will reflect on Closing Disclosure at closing.

So, if the CFPB is willing to stop these junk fees, what about UWM passing off all the junk fees to the appraiser, $16.50 for the assignment, $25.50 for a tech fee (because the go through ANOW) and NOW an additional $29.50 to pay to have our reports underwritten!! YEAH, they are charging the appraiser for their overhead of unwriting!. Why does the appraiser have to pay for their own work to be underwritten, is not the lender's responsibility to do so? Just another fee that gets directly passed down the borrower and I'm sure that somehow this is nothing more than a mark up by UWM to make money off of the underwriters instead of it being overhead. Just like many AMC's charging the lender $900 on an appraisal assignment and trying to give it to an appraiser for half of the fee. The AMC do NOT provide enough service to warrant theft of half the appraiser's feel. Many of the AMC charge similar upload and tech fees, why is the appraiser paying for these and not the lender? Junk fees that just keep piling up and dumped on to the borrower. What material benefit does the borrower get in professional services with said junk fees? I have the answer, not a damn thing. They get nothing more out of it. #CFPB #mortgage #AMC #appraiser #loanofficer #realtor

Ready to jump into buying a home but concern over mortgage payments have you treading water? PrimeLending’s Summer Splash Buydown program lowers your mortgage payments for the first year. That makes buying a home more affordable. This 1-0 temporary buydown* uses funds we deposit in an escrow account to effectively reduce your interest rate for the first year of your FHA, VA or USDA mortgage. Lower payments in the first year of homeownership can help you manage your budget and prepare for when your payments return to a standard fixed rate after the first year. Plus, with PrimeLending, you’ll pay No Lender Fees** on VA loans! I’m available to talk you through all the details. Contact me today and mention promo code SUMMER SPLASH to get started. *BuyDown 1-0 Option will be paid by PrimeLending. Rate discount applies only to first year. Must apply for and lock loan through PrimeLending by 8/31/24 and loan must close by 12/31/24. Savings will reflect on the Closing Disclosure. Offer only available for FHA, VA, and USDA purchase loans. Excludes bond, broker, conventional products, high balance, jumbo products, portfolio products, construction loans, and refinances. Offer can be paired with PrimeLending VA No Lender Fees promotion, all other promotions are excluded. Certain loan programs do not allow buydowns. Additional restrictions may apply, contact a PrimeLending loan officer for details. **All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding fee, title, and appraisal etc. Down payment waiver is based on VA eligibility. This offer is valid until 12/31/2024. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer or bond program other than the Summer Splash Buydown Promotion listed on this flyer. Savings will reflect on Closing Disclosure at closing.

I’ve been working hard to help homeowners and buyers understand the appraisal process, especially when it comes to FHA loans. This latest blog breaks it all down in simple terms. If you know anyone who could benefit from this information, please share or tag them!

What is CMG List & Lock? List & Lock by CMG Financial is an exclusive advantage that can help your sellers reach their goals faster without lowering their listing price. It's a win-win for buyers and sellers. Sellers can move faster and get full price for their home while buyers can still achieve the American Dream at a lower cost. How It Works: 1 Determine how much you wish to contribute to a lower rate 2 Secure a 60 day rate lock 3 Showcase your seller's house at discounted rates... What You Get: Lower Rate & More Customers Lock Certificate Web Page with Rate Options Open House Flyer Home Buyer Guide Image to Share on MLS Real Estate Sign Rider Social Posts Custom Property Video Attract more buyers & sell faster! This lock cannot be transferred to another property address. It is valid through the above expiration date. While List & Lock? can help buyers significantly, it is not a guarantee to lend. If a buyer is interested in purchasing the listed home at the advertised rate, they must still qualify for the loan. The benefit is that they won’t have to qualify for the loan based on the higher market rates; instead, they will be qualifying on the List & Lock? rate. They will have several loan options to choose from through List & Lock? -- Conventional, FHA, VA, All In One Loan?, and select adjustable-rate mortgages (ARMs). The same type of credit and discount can be applied to other loan programs, but rate adjustments could occur. Closing must occur by within the 60-day rate lock period. If you’re concerned your closing could extend beyond the 60-day period, contact your loan officer to discuss extension possibilities.