[Sung Kyung]

Indeed, a person who happens to be your son’s husband may qualify as a co-signer on a VA loan. It is not uncommon for same-sex couples to seek legal recognition of their marriage. The US Supreme Court’s ruling in Obergefell v. Hodges is one example. The marriage law applies equally to married couples, no matter their sexual orientation.

Key Points:

According to VA Loan Guidelines, a loan can be taken out with a spouse, including a same-sex spouse. Both can be included in the loan application if your son and his husband have a legal marriage.

Loan Officer Misunderstanding: There appears to have been a misunderstanding or, at worst, a communication breakdown with the loan officer. The VA does not discriminate against anyone based on their sexual orientation or marriage; thus, all couples who are married legally should enjoy equal privileges during the loan process.

Documentation: Ensure your son has all relevant documents that prove their marriage, such as a marriage certificate, to support any loan application process.

Finding a Different Lender: However, if the loan officer keeps saying that a same-sex spouse cannot be a co-signer, you would need to find another lender who is more familiar with VA loan regulations and LGBTQ+ rights.

Your son and his spouse should be able to cope with the VA loan process together. It is worth advocating their interests and ensuring their information is not distorted. If such a situation emerges, they might consider contacting other lenders or a VA loan officer knowledgeable about same-sex couples’ rights

[Sung Kyung]

The states that operate under community property regulations consolidate and pool all properties owned by the partner throughout the union during the marriage, which is then shared equally during the separation or loss of a partner.

Community property states in America’s geography include but are limited to the following states:

1. Louisiana
2. Texas
3. Arizona
4. New Mexico
5. California
6. Idaho
7. Washington
8. Wisconsin

Here are some important mortgage facts and lending opportunities for those buying homes in community property states such as those mentioned above:

Income and credit score—During the evaluation stage of the loan application, potential buyers can rely on their spouse’s income and credit score. Lenders in the community property states would consider both income and credit scores. However, both borrowers must satisfy the lenders with the required score and income levels based on the type of loan and lender chosen.

Debt-to-income ratio (DTI ): DTI calculates whether the spouse could take out loans considering their monthly income. Lenders from all over the United States, including those from community states, see both the income and the debts the couple has together, and based on that, the DTI is calculated. Having a lower DTI ratio enables spouses to take advantage of the favorable loans given by the lenders.

Down payment: Most community property states have consistent DPs with the rest of the nation, but in some states, like Idaho and Louisiana, the property is shared by two.

Financing Options: A long list of loan programs is available for homebuyers working in communities owned by property states.

Some include:

Standard Loans: Standard loans are characterized by strict down payment and credit score prerequisites. However, they might have lower interest rates and flexible terms.

FHA Loans: Such loans are aimed towards first-time home buyers as they are less risky because they have a low credit score and require a down payment of less than thirty-five percent. Who stand backed by the Government.

VA loans: Such loans have no required down payment and are designed for qualified veterans, some military members, and their surviving spouses.

USDA Loans: Interest-free down payment loans that require living in select defined rural regions.

Rules for Real Property: Most lenders require the title transport requirements through either the quitclaim deed or the community property agreement. In a community property agreement, the community members own the property’s equity in halves. In contrast, in a quitclaim deed, the title to one-half is written for one spouse, who transfers it completely to the mortgage lender.

Availability in the Market: Homebuyers working in states that follow the property communities can avail different lenders, which include:

Mortgage lenders: Providers of lending to borrowers and buyers of properties to other financial institutions, as well as other loan program providers, can be accessed with the help of these professionals, who guide through the procedure.

Direct Lenders: This category includes banks, credit unions, and other financial institutions that extend mortgage loans directly to borrowers.

Online Lenders: A subset of online lenders offers mortgage loans to residents in community property states.

The mortgage markets are different across the globe and sometimes within a region. Make sure you analyze several mortgage programs, lenders, and rates to determine the best option for you. In addition, it may be worth seeking the guidance of a financial expert or a property lawyer regarding the laws of community ownership and their effect on your application.

[Sung Kyung]

Government jobs. City, County, State, and Federal Jobs.

[Sung Kyung]

Highly recommend Danny Vesokie of Affiliated Financial Partners.

[Sung Kyung]

30-Year Treasuries at 3.799% folks. Mortgage rates are dropping fast.

[Sung Kyung]

I love Bari Beef.

[Sung Kyung]

What is an FHA STREAMLINE REFINANCE loan and how do you qualify? What are the eligibility requirements on an FHA streamline refinance loan? How difficult is it to get approved for an FHA streamline loan? What is the mortgage process of the FHA streamline refinance mortgage loan? What is the upfront cost of a streamline refinance. Can I take out co-borrowers with and FHA streamline refinance?

[Sung Kyung]

I just cannot imagine how people can live in California. Everything about California is bad with the exception of the weather. Home prices are double than the median average price of homes in the national home median home prices, state taxes is among the highest in the nation, gas prices is almost double the national average, cost of living is unbelievable and way above the national average, and politicians like Gavin Newsom are so liberal they cannot think logically. Now California wants to impose a 30 cent per mile transportation tax? So if my place of work is 60 miles one way, I would have to pay 30 cents per mile on 120 miles for the day? $36 dollars just to work and back.

[Sung Kyung]

Any more details about Trump’s assassination attempt? We’re there two or three people dead?