FHA & VA Originations Guide: Electronic Version

FHA & VA Originations Guide: Electronic Version


This guide contains a complete compendium of information on the most important government mortgage programs in our industry – FHA and VA.

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Be an important part of government programs that have helped bring the American Dream home for millions of prospective home buyers!

In today’s competitive market place, can you afford to continue to ignore the most lucrative mortgage programs available to mortgage originators across the nation?

The Advantages of FHA Programs

  • Low cash required-3.5% down payment (none for VA).
  • Low closing costs-all mortgage insurance can be financed.
  • No cash reserves required, except for 3-4 unit properties and manually underwritten loans.
  • Larger seller contributions-up to 6.0% on a minimum down payment mortgage.
  • 100% gifts allowed with minimum down payment mortgage.
  • Higher ratios-31/43.
  • Non-owner occupant co-borrowers allowed with a minimum down payment mortgage.
  • Citizenship not required with a minimum down payment mortgage.
  • FHA loans are assumable at the note rate.
  • FHA streamline refinances-no doc refinances for investor properties.
  • Cash out refinances to 85%.
  • Condominiums are acceptable with 51% owner-occupancy within the project.
  • Nontraditional credit histories can be considered.
  • Credit scores are not mandatory.
  • Gaining project approval expertise can provide an “in” with builders.
  • It is a government program.

In today’s world, knowledge can spell the difference between success and failure. With professional competition crowding the mortgage industry via the Internet, from mega-conglomerates and through real estate and builder-owned companies—today’s mortgage originator cannot afford to waste time or the opportunity to ignore a large segment of the marketplace.

The Complete FHA & VA Originations Guide (now updated for 2017) is more than a compilation of rules and forms. It is a complete compilation of guidelines, forms, formulas AND marketing strategies and materials. What good is the knowledge of government programs if you do not know where to go to find the loans? What good is the knowledge of where to go if you do not have letters to help produce response? The complete Originations guide will help you understand AND act. This is the goal of this publication.

The  guide is accompanied by government documents — Mortgage Letters, FHA Handbook, VA Lenders Handbook and more. Keep in mind that these guides and the forms they contain change constantly. A true student of the industry keeps up with changes consistently so that they can stay ahead of the curve. People like to do business with experts—not with sales people.

Adding FHA and VA expertise to your product line opens up a whole new world for your success. From low-to-moderate income borrowers to streamline refinances, these are truly powerful tools. Learn and use this knowledge not only to become more successful. Use these tools to help bring the dream of homeownership to immigrants and those citizens who will really appreciate the blessing we have in America.

Contents By Chapter:

  • Section One-FHA Mortgages
  • Section Two-VA Mortgages
  • Section Three-FHA & VA Marketing Material
  • Section Four-FHA Forms
  • Section Five-VA Forms
  • Section Six-FHA Handbook
  • Section Seven—FHA EAD User Guide
  • Section Eight–FHA Mortgagee Letters
  • Section Nine–VA Lenders Handbook
  • Section Ten—VA Regulatory Update


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