How tough is it to get a mortgage in MA with a VA loan?

Hi Molls1, VA loans are fantastic loans and have some of the lowest costs of any loan lending over 80% of the value of the home. Getting a VA loan in Scituate, MA is not difficult, however a lot depends on your situation. With the info you provided you meet most of the qualifications of a VA loan but one very important piece is the profitability of your 2 businesses. If you would like to find out more please feel free to call me at 603-543-3700 ext1. I am in MA almost weekly and would be happy to sit with the 2 of you at your home to answer all of your questions and pre-approve you for your loan if all goes well. Should you want further information on VA loans in general I have a class in our free online home buyer university which you can find at www.homebuyeruonline.com. Thank you in advance for the opportunity to hopefully serve your mortgage needs.

Based on the info you provided, you shouldn't have a problem.. VA loans are easy to qualify for, however because you both own businesses, your tax returns will be the tell all... how much you owe on credit cards will have little to do with your approval or denial, but when it comes to deciphering taxes, the lender is going to use the same income you tell the IRS you make.. your adjusted income after all write offs... if you really want to know for sure if you qualify, gather up your taxes and contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

hello Molls.. VA LOANS are easy to get, and the house that you are renting , I will need to know that address to see what the house is worth. I use the same web sites as most appraisers use... also, i am very good with self employed borrowers, like yourself, tax returns can be very tricky.. please email me your address at yourloanpartnerforlife@live.com i have been in this business for over 23 yrs.. and i have also worked as a underwriter.. linda talk to you soon..

It's not tough, its VERY EASY. VA loans are about the easiest to qualify for. VA will look at your reported business income, but to know if you qualify, you need to get the application process started. My advice is to contact a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

We are currently doing a VA loan for a self employed borrower and we are using the average of the last two years of income. Unlike any other type of loan, including FHA, one of our lenders are able to qualify you with your current credit card debt since we can use up to 10% of your residual income after all your monthly expenses. Great program for a VA loan and they are a great way to go with low costs. We can currently do 100% loan to value and sounds like a $ 300k mortgage could be doable. If you like to talk further over the phone or in person, feel free to call me anytime, our office is a few towns over from Situate, in Stoughton so would be glad to meet or swing by and go over all your options. Best wishes, Peter Costa, Direct 617.290.2795 or office 888.441.EASY (3279)- Broker/Owner of Easy Apps Mortgage, Inc. MLO49688 | MB5382

VA loans are not hard to qualify for and they are the best product to use if you are a Veteran. No PMI and 100% financing and great rates and allow for a much higher total debt to income ratio than the normal loans. So call me or email me as I do a lot of VA/FHA loans here in Mass. Robert Oliveira Residential Mortgage Services. 508 802 0935 email roliveira@rmsmortgage.com

Lots of great information and advice above. It will all come down to your income (based on the last two years of tax returns) as compared to your income. VA loans are really the best option available and have the most flexibility of any options available. The bast majority of my business is here in the Charleston SC area but I'm a transplant from MA (Berkshires) with friends and relatives all over MA and NH - let me know if I can help. 843.343.6383 or pdumouchel@primelending.com