VA Loans

[Fly4five]

Gotta ask, has anyone done a VA loan assumption and had success?

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[DuckHunter]

1 hour ago, Fly4five said:

Gotta ask, has anyone done a VA loan assumption and had success?

Sent from my SM-S918U1 using Baseops Network mobile app
 

Yes.  I did one last summer.  It was painful and took quite a bit longer than a normal VA but worth it in the end.

[StoleIt]

17 hours ago, Fly4five said:

Gotta ask, has anyone done a VA loan assumption and had success?

Sent from my SM-S918U1 using Baseops Network mobile app
 

Doing one right now. Originally tried to close in 30 days and I'm already way past that...but that was mostly because the lender didn't have their shit together and was extremely disorganized paperwork wise.

Otherwise, it's definitely the way to go these days. I got a condo at 3.5% and my buddy just got house at 2.75%.

[Jon - Trident Home Loans]

Assumptions are the best deal out there if you have the time and money to cover the gap between their balance and the purchase price.  Mortgage servicers don’t staff their assumption departments well because there is not any money in it for them which is why it takes a long time.  I know many of my past clients who have done assumptions but the story is always the same…takes way longer than you’d like, lack of communication/updates, and paperwork can be disjointed.  It’s worth it in the end but keep your expectation level low going into it.  Once you get into underwriting then the pace picks up.

If it doesn’t work out we’re always here to help with a new loan and then we’ll do a no cost streamline refi for you next year as rates come down.

Good luck!

Jon

https://tridenthomeloans.com/jonathan-kulak/

[Jon - Trident Home Loans]

Wanted to pass a quick update since we’re entering the winter PCS season and there has been a lot of rapid improvements in the economy recently.  Right now VA rates have come down fast out of the mid 7s to the low 6s and will be entering the upper 5s. 

Reach out if:

1. you’re looking to buy and want to take advantage of our industry leading rates/no lender costs
2. you’re under contract to buy at a 6.5% rate or higher you could still swap to use to get the lower rates and we can get the VA appraisal transferred over to avoid cost/closing delays. 
3. you already closed with a rate above 6.5% already and have made a few payments to do our no cost refi program where you don’t finance any extra principle into the loan cause we pay for the third party costs.

 

The federal reserve announced yesterday 3 predicted rate cuts in 2024 but market futures expect 4-5.  The fed is also estimating 4 in 2025 and 3 more in 2026 so rates will continue to decline and we can refinance you for free every 7 months without adding any cost or you having a refi breakeven point.  Everyone will be refinancing so even if now isn’t the time don’t forget to get on my radar.  We’ve done this no cost multiple refi strategy for years and it works out great for both you guys and for us.  Our baseops clients helped build our business to a national leading lender over the years so I will always make sure you get treated the best.

 

Happy to chat about anything/anytime (mortgages, real estate, airlines, or Cat E PIRR CAP-USAF jobs).  Link to my website and also to our no cost refi program below.

 

Merry Christmas!

Jon

Cell: 850-377-1114

jk@mythl.com

https://tridenthomeloans.com/jonathan-kulak/ 

No cost streamline refi: https://tridenthomeloans.com/irrrl/

[Jon - Trident Home Loans]

On 12/14/2023 at 10:34 AM, Jon - Trident Home Loans said:

Wanted to pass a quick update since we’re entering the winter PCS season and there has been a lot of rapid improvements in the economy recently.  Right now VA rates have come down fast out of the mid 7s to the low 6s and will be entering the upper 5s. 

VAs are now in the upper 5s with no discount points or lender fees.  Hit me up if you are purchasing soon or want to take a look at a no cost refi.

Happy New Year!

Jon

[brabus]

@Jon - Trident Home Loans Do you guys do construction loans? 

[Jon - Trident Home Loans]

2 hours ago, brabus said:

@Jon - Trident Home Loans Do you guys do construction loans? 

We do both conventionals and VA construction to perm loans.  Not a big part of our business but it's something we can do if it helps.

Jon

[brabus]

Thanks @Jon - Trident Home Loans, sent you a DM.

[Smokin]

How about land loans?  I'm considering buying 20-80 acres of land and then building with cash.

[Jon - Trident Home Loans]

2 minutes ago, Smokin said:

How about land loans?  I'm considering buying 20-80 acres of land and then building with cash.

We only lend on existing or new construction homes based on how we’re setup but land loans are definitely available through banks/credit unions.  Usually 20% down on them.  
 

Market definitely continues to get more favorable.  Reach out if you’re PCSing this summer or bought with a high rate.
 

Jon

[FDNYOldGuy]

I’m a couple months overdue on my positive review of Trident, but wanted to throw it in for my recent cash-out refi.
 

I didn’t work with @Jon - Trident Home Loans directly (he didn’t cover my state), but he and I spoke a few times in the year+ process and he was always super helpful despite not being who I would work with. The whole Trident team was solid, the process smooth, and the rate was better than the going conventional. Definitely appreciated them will use them again. 

[Jon - Trident Home Loans]

3 hours ago, FDNYOldGuy said:

Definitely appreciated them will use them again. 

Thanks man!  I’m always happy to help even if I personally can’t be the loan officer.  I have a great team of loan officers who are licensed in states that I’m not and Marty our owner covers the rest.  We’re still super competitive on our rates…especially VAs.  Rates are moving in a good direction again and we only expect to see lower as the year goes on (assuming inflation reports are favorable).  Expecting to do a lot of no cost streamline VA refi’s soon but purchases have kept us busy.
 

Always happy to chat!

Jon

850-377-1114

jk@mythl.com

https://tridenthomeloans.com/jonathan-kulak/

[DirkDiggler]

Like to add another shout out for Jon and Trident.  Just closed on our post-AF retirement house.  Process was super smooth, got a good rate, and closed inside of 50 days with no issues.  Would highly recommend Jon and Trident for any mortgages.

[Jon - Trident Home Loans]

16 minutes ago, DirkDiggler said:

Would highly recommend Jon and Trident for any mortgages.

Thanks man!  Congratulations again and thanks for trusting me with your new chapter in life!  I’ll be here to knock the no cost refi out for you as rates continue their decline.  Happy to chat purchases or no cost refi’s with any of y’all.

 

Cheers!

Jon

https://tridenthomeloans.com/jonathan-kulak/

[Jon - Trident Home Loans]

I don't pay to advertise or send out mailers but if any of you are sitting at 6.25% or higher on a VA loan that you've made 6 payments on with a loan amount under 766,550 I can drop you down to 5.75% at no cost (I'll pay all the transaction fees to include the VA funding fee) so you don't have a breakeven then we can rinse and repeat as rates go down.  I can't do it in FL right now though cause the state taxes push the cost to high.  No catches or fine print.  If you have a loan above 766,550 give me a call and I'll take a look at what we can do based on your disability status or state you live in.  When in doubt call me to check.  We have a special pricing incentive for streamline refi's going but it ends on 3 Sept so hit me up sooner than later. 

Here is the website to knock out a quick app: https://tridenthomeloans.com/irrrl/

Feel free to call me on my cell...850-377-1114.

Cheers!

Jon

 

[Jon - Trident Home Loans]

Hope everyone had a great Thanksgiving!  Just letting everyone know that the new VA entitlement cap is out for 2025 going up to 806,500 from 766,550 for most of the county with higher limits in more expensive parts of the country.

This means that all veterans have more entitlement available to get a second VA loan while keeping a previous home that's still on a VA.  If you don't have enough entitlement to go zero down you can still get a second VA loan but there is a formula for determining the required down payment. 

This also means that if we do a no cost streamline refi for you and your loan amount is below 806,500 you'll get regular VA rates vs VA high balance rates which are a little higher.

Don't worry, if you don't have a current VA loan outstanding then you can still go zero down without a limit as long as you qualify debt to income ratio wise.

Happy to chat through any scenarios anytime!

Enjoy the holidays!

Jon