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r/RealEstate – Does anyone have information on the process of going from a Hard Money loan to a VA loan?

US long-term mortgage rates fall; 30-year average below 4% WASHINGTON (AP) – U.S. long-term mortgage rates fell for the sixth consecutive week, with the key 30-year loan average running below 4% and at its lowest point since September 2017.

A hard money loan might be an appropriate option if you do not have a high enough credit score to secure a loan from a bank. They are generally used as "bridge" loans between construction financing and long term loans; hard money loans are often used for construction because longterm lenders may want finished and leased projects.

Does anyone have any experience with this and if this would be possible to do with first using hard money to purchase and rehab the property, and then using the VA loan for a primary residence? Or, what restrictions the VA might have with allowing someone to do this. Thanks for viewing my post, and thanks in advance for any and all responses.

 · The VA is dysfunctional and. Vetearns choice is a sham I have been refused service when traveling had my va doc since retired refuse to see me because I was seeing a civilian doctor In Dec 2o16 1 fell in snow and ice and broke my hip I was taken to the hospital where I live which is only a mile and a half away had them call the Va va said that.

 · A hard money loan might be an appropriate option if you do not have a high enough credit score to secure a loan from a bank. They are generally used as "bridge" loans between construction financing and long term loans; hard money loans are often used for construction because longterm lenders may want finished and leased projects.

The purchaser shall, however, have the privilege and option of proceeding with the consummation of this contract without regard to the amount of the reasonable value established by the Department of Veterans Affairs." You may also want the purchase agreement to allow you to "escape" from the contract without penalty if you can’t get a VA loan.

2 Myths Holding Back Home Buyers 2 Myths Holding Back home buyers.. myth #2: "I Need a 780 fico score or Higher to Buy". Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

When you personally guarantee a loan, you are personally responsible for paying the loan back, even if the business doesn’t do well or closes down. If you don’t pay back the loan, a personal guarantee allows the lender to sell off your personal assets (e.g. your home and car) to satisfy the loan.

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