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Posts from the ‘PROGRAMS’ Category

31
Jan

How to Get Health Care Insurance After Separating from The Military

“I JUST LEFT WALGREEN’S AND PAID A $400.00 FOR PILLS!!  IN A TIME WHEN THE ECONOMY IS BEATING US ALL UP I THOUGHT I WOULD PASS THIS INFORMATION ON TO THOSE WHO TRULY DESERVE IT. OUR VETS!!  HOPE THIS HELPS ANYONE WHO HAS SERVED OUR COUNTRY!! GREAT INFORMATION FROM THE MILITARY WALLET.

The most important thing to consider when separating from the military is ensuring your immediate needs are taken care of. This includes making sure you have some cash coming in to cover your bills, a roof over your head, and health care coverage for you and your family. Unfortunately, you can only take your military health care benefits with you in limited circumstances, which we will cover in this article. If you don’t meet the limited qualifications for taking your TRICARE benefits with you, then you will be required to find your own health care. We will cover a few other options for finding affordable health care coverage in this article. These tips can help you find the best places to get medical benefits to make sure your family is covered.

via How to Get Health Care Insurance After Separating from The Military.

9
Jun

Who Says You Need 20% Down Payment

HomePath Program

  • Currently offering a 3.5% incentive through June 30, 2011 (for owner occupied properties only)
  • Only designated Homepath properties are eligible (not Homepath renovation)
  • No appraisal required
  • No MI required
  • 3% down payment can be a gift
  • Min 660 score to go to 97% loan to value

Fannie Mae 97%

  • 3% down payment from borrowers own funds
  • Monthly and split edge MI available
  • Min 720 score required
  • Max DTI 41% (MI requirement)
  • 3% seller contribution to closing costs/pre paids/ points are allowed

FHA 96.5% (plus MIP)

  • Non occupant coborrowers are allowed
  • 3.5% down payment can be a gift
  • Upfront MIP of 1% can be financed
  • 6% seller contribution to closing costs/ pre paids/ points are allowed
  • Min 640 score is required

203K Streamline

  • 3.5% down payment can be a gift
  • Upfront MIP of 1% can be financed
  • Finance non structural repairs /improvements up to $35,000
  • Min 640 score is required

USDA 100%

  • 3.5% funding fee can be financed
  • Max DTI 45%
  • Min 640 score is required
  • No monthly MI
  • 6% seller contribution to closing costs/pre paids/ points (higher will be considered with restrictions)
  • Geographic and income restrictions

VA 100%

  • Funding fee determined by veteran status, can be financed
  • Borrower must be a veteran or currently in the military
  • No monthly MI
  • Min 620 score is required

IHDA 2% down-

  • Min 660 score is required
  • 3 years proof of tax returns to show you are a first time buyer
  • Household incoem less than $75,100.00
  • Max DTI 45%
  • Monthly and split edge MI available
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