VA Loan Information Center

Archive for March, 2011

Operation Purple camps offer a free week of summer fun for military kids with parents who have been, are currently, or will be deployed. These free week-long camps are provided through the generous support of Goldman Sachs Gives, the Sierra Club, and the Sierra Club Foundation.

The goal of the Operation Purple camp program is to give military children tools to help deal with the stresses that result from a parent’s deployment, through a memorable camp experience in a “purple” environment.

Operation Purple camps are open to military children of all ranks and Services: active and reserve components—and give priority to children whose parents are deployed or deploying anytime between September 2010 and December 2011.

At Operation Purple camps, military children experience an exciting week of outdoor fun and adventure.

2011 Operation Purple camps will be held in 25 states as well as Okinawa, Japan.

The application process will close on April 29th.

For a list of camps and registration information click on the image below:



Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

“Who is eligible for a VA loan?”


Here is a basic rundown on times of service pertaining to VA Home Loan Mortgage Eligibility:


Veterans and active duty military personnel who served during peacetime must have had more than 180 days of active service. Veterans of enlisted service starting after September 7, 1980, or officers with service beginning after October 16,1981, must in most cases have served at least 2 years.


Veterans with active duty service (who were not dishonorably discharged) during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, 1975) veterans must have at least 90 days of service.

Since early 2010, most VA lenders in the U.S. have tightened their lending and credit score requirements, making home financing harder to come by for those with credit issues.

As a result of the credit crisis, getting a loan without a down payment is more difficult, making the VA loan one of the few remaining options for 100% financing. Although the VA does not require you to have a specific credit score, many lenders have generally set their minimum credit score requirement at 620.

There are three specific pieces of documentation a lender will need to determine your eligibility:

A DD214 for discharged veterans.

A statement of service for active military personnel.

A certificate of eligibility (COE) to determine you have VA entitlement.

During the preapproval process we will look at credit scores and debt to income ratios, as well as specific lender eligibility requirements, to determine which loan is the right one for you.

Many people have asked- can I still qualify for a VA loan if I have either had a divorce, filed bankruptcy, or had a previous home go into foreclosure… and the good news is you are not immediately disqualified from a VA loan, although there are some additional restrictions.

If you or someone you know is looking to explore their options with VA financing feel free to contact us, we are here to help you and we love serving those who serve.


For more information go to VA Eligibility


Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

When one family member is in the military the whole family shares in serving. The National Family Military Association awards a family of the year award recognizing strong military families who embrace their service to the Nation, are role models in their community, and understand that together they are stronger.

One family from each of the services, Army, Navy, Marine Corps, Air Force, Coast Guard, NOAA and the USPHS, will be chosen from nominations to represent their branch. All family finalists will receive an all-expense paid trip to Washington, DC for the award ceremony and announcement of the Grand Prize winner. The recipient of the National Military Family Association Family of the Year will also receive a cash prize of $1,000!

For more information and to submit a nominee click on the image below:



Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

The US Department of Defense United States Transportation Command and the Military Surface Deployment and Distribution Command have developed the Defense Personal Property Program (DPS).

Goals of the DPS system are:

• Improving the move experience for customers
• Streamlining move management
• Establishing an integrated, paperless system to support DoD families’ moves worldwide

Using the DSP system you can:

• Create and submit your application for your move
• Monitor the progress of your shipment
• File a claim directly with the TSP

For more information and to get started visit Move.mil.

Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

Today is the 38th anniversary of the withdraw of all troops from Vietnam. Back then the war war very unpopular and there were no welcome home ceremonies for the returning soldiers.


This has now changed. On March 7th, 2011 the U. S. Senate passed a resolution declaring March 30th "Welcome Home Vietnam Veterans Day".


For more information visit MarinesBlog.


Thank you to all who served in Vietnam and thank you to those who continue to serve to keep us free.


Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

Since the real estate problems began several years ago the question has been when will the market start turning around. Data now being analyzed indicates that in some markets the time may be now. In a recent article in Fortune Magazine Mike Castleman says "I'm a dirt-road economist who sees what's happening on the ground, and in 35 years I've never seen a shortage of new construction like the one I'm seeing today. The talking heads who are down on real estate will hate to hear this, but America needs to build a lot more houses. And in most markets the price of new homes is fixin' to rise, not fall."


What are Mike Castleman's qualifications? As the founder and CEO of a company called Metrostudy, he's spent more than three decades tracking real-time data on the country's inventory of new homes. Each quarter he dispatches 500 inspectors to literally drive through 45,000 subdivisions from Baltimore to Sacramento. The inspectors examine 5 million finished lots, one at a time, and record whether they contain a house that's under construction, one that's finished and for sale, or a home that's sold. Metrostudy covers 19 states, or around 65% of the U.S. housing market, including all the ones hardest hit by the crash: Florida, California, Arizona, and Nevada.


To view the complete article click on Real estate: It's time to buy again


Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

All service members have certain financial and legal protections under the Servicemembers Civil Relief Act (SCRA). These protections include things such as lower interest rates on mortgages and loans that predate your military service, and the right to terminate a lease or contract because of a PCS or deployment.

The SCRA covers all service members on federal active duty, including:

• Regular members of the Army, Navy, Air Force, Marine Corps, and Coast Guard.
• Reserve, National Guard, and Air National Guard personnel who have been activated and are on federal active duty.
• National Guard personnel under a call or order to active duty for more than 30 consecutive days under Section 502(f) of title 32, United States Code, for purposes of responding to a national emergency declared by the President and supported by federal funds.
• Public Health Service and National Oceanic and Atmospheric Administration Officers detailed for duty with the armed forces.

For more information click on Understanding the Servicemembers Civil Relief Act (SCRA).

Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

Tax time is coming again. MilitaryOneSource.com has arranged for free access to he basic H&R Block at Home® electronic tax- filing product. This allows you access to file your federal and up to three state tax returns for free. In addition you will have be able to talk with tax consultants for free to answer questions you may have. You'll need to create a special account through the MilitaryOneSource.com web site. Do not go directly to the H&R Block public web site.

To get your questions answered and register for the free tax filing service click on the image below:



Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com

There are a lot of questions that arise when you've got orders for overseas duty. Things that have to be considered include:

• Commands Sponsored PCS Orders
• How Do You Prepare?
• Looking For Housing
• Applying For Housing
• Temporary Lodging

The Army Housing Soldier & Family Newsletter has advice and links to a lot the information you will need for your overseas moving process. To view the newsletter click on Making the Journey Overseas.

Your source for VA loan information.



My direct line is 240.813.0614. So let me hear from you! Remember...it doesn't cost a penny to talk...so call right now and I will answer all your questions.


Alan Gross

Senior Mortgage Consultant

PrimeLending, A PlainsCapital Company
704 Quince Orchard Rd., Suite 230
Gaithersburg, MD 20878

Home Office: 240.813.0614
Email: agross@primelending.com
Web: www.mtg-info.net
Web: www.DCMilitaryVALoans.com