The BAH (Basic Allowance for the Military) will be reduced on Oahu in 2016. Needless to say this is extremely disappointing news for active duty members of the military and their families that will be transferring to Hawaii. The cost of living continues to increase here in the islands and our government will be cutting […]
What is DTI and How is it Calculated?
A debt to income ratio (DTI) is the primary factor in determining a borrower’s ability to repay the loan. Your DTI is your minimum monthly debt obligations (what’s included on your credit report) plus your expected housing expense, divided by your gross monthly income. You can see the formula below. DTI = Monthly Debt Obligations + Expected […]
Novation Protection During VA Loan Assumption
There are some issues you want to be aware of when you are arranging the sale of your home using a loan assumption deal. While there are different types of loan assumptions deals, not all of them will release you from financial obligation of the loan if the new owner were to default on the […]
VA Loan Assumption: How Does it Work?
There are dozens of reasons why the VA Loan Program is attractive to those who are eligible for it. Among the options the VA Loan Program provides there is also the VA home loan is assumable. A veteran is able to sell the home by allowing someone else to “assume” those VA loan mortgage payments. […]
The VA Energy Efficient Mortgage Program
If you are living in a “green home” then you already understand the types of advantages that come with it. Besides lower energy bills and tax breaks you are also leaving less of a household footprint on the environment. Did you know that on top of all this you can add and/or repair eco-friendly features for […]
Can You Use the VA Loan for Home Repairs?
The VA Loan program is a fantastic and flexible option for those who have served in the military. There is a common question that comes up every so often from potential borrowers. They want to know if they can use the VA loan for home repairs. The answer is actually yes, but it involves using […]
