Plaza Home Mortgage Debuts VA Renovation Loan Program

Phil Hall

Sep 20, 2018

The program is available through its national correspondent and wholesale channels.

Plaza Home Mortgage Inc., a San Diego-based national wholesale and correspondent lender, is now offering a VA Renovation Loan Program that is designed to help veterans buy and upgrade homes.

According to the company, the program is available through its national correspondent and wholesale channels and allows qualified borrowers to purchase a home without requiring a downpayment and to finance up to $50,000 in improvements via one loan. The program can also be used for refinancing on up to 100 percent of the after-improved value of the property.

“In many parts of the country, veterans are facing the dual challenges of rising home prices and limited inventory when they are shopping for a home,” said Jeff Leinan, Senior Vice President of National Wholesale Production of Plaza Home Mortgage. “This innovative program gives these borrowers the flexibility of buying less expensive homes that may need work, and financing the purchase and the upgrades in one affordable loan.”

Link copied

Published

Sep 20, 2018

Analysis and Data

Mortgage Rates Fall For 3rd Straight Week

The 30-year mortgage dropped to 6.32%, lowest since mid-February.

Amid continued economic unrest, mortgage rates fell for the third consecutive week this week, Freddie Mac said Thursday. According to the government-sponsored enterprise’s Primary Mortgage Market Survey (PMMS), the 30-year, fixed-rate mortgage (FRM) averaged 6.32%, down 10 ...

Regulation and Compliance

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk

CFPB director tells Consumer Bankers Association conference such a failure could lead to 'chaos.'

What happens if a nonbank lender or large mortgage servicer fails? That’s a question that recently has been keeping Consumer Financial Protection Bureau Director Rohit Chopra awake at night. "A major disruption or failure of a large mortgage servicer really gives me a night...

Jul

New Orleans, LA

More from

Renovation

Calif. Investors, Lenders Mobilize Against Speculation Act

'They’re looking to decimate the industry without realizing the result of that decimation': Nema Daghbandan, a partner in Geraci LLP, said.

Renovation

Mar 18, 2022

TPO GO, the Renovation Mortgage Solutions Hub

The Real Estate Finance Business is changing in 2022. Renovation mortgage lending is a necessary tool in any mortgage broker’s purchase lending tool belt.

Renovation

Jan 11, 2022

Home-Flipping Profits Drop To Their Lowest In 10 Years

This marks the largest annual decrease in profit margins since early 2009 when the housing market crashed.

Analysis and Data

Dec 16, 2021

Poor Market Conditions Make Real Estate Investors Turn Sour

48% of investors believe that the investment market is worse or much worse than it was one year ago.

Analysis and Data

Sep 29, 2021

The Fix Is In For Experienced Flippers

Knowledgeable Investors Have The Advantage Over Newbies In Pandemic Housing Market