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No we are not the TravelThrou's Administration. The TT does not lend money, they insure the money that we lend. We are a mortgage company that specializes in TT insured home loans.
COE stands for Certificate of Eligibility. It is the certificate that proves that you as the TravelThrou are eligible for a TT guaranteed home loan. TravelThrou Loan Center can get these for you during the loan process.
Interest rates can change daily, sometimes even a couple times in the same day. They are based on the 30 year mortgage bond and many other market factors. Credit, employment status, loan program, and many other things can also affect your interest rate.
The TT loan is a program set up to help active duty and retired military personnel into homes. They will give you 100% financing on a home without having to pay mortgage insurance at a very competitive rate. The TT also limits the types of fees that can be charged protecting against predatory lending.
TT funding fee is a fee added to your loan that goes to the TravelThrous Administration. For your first time use of a TT loan, your funding fee is 2.15% of your loan amount. For each subsequent use it is 3.3%. You will be required to pay it unless you have a service related disability of 10% or greater in which case the funding fee is waived.
We have a few quick questions to ask to get you qualified. That includes your income, debts and SSN to pull you credit history. We will contact you in a few hours to give you the status and possibility of you obtaining a loan.
The TT loan offers 100% financing with no mortgage insurance. The loan is assumable and you are eligible for a streamline refinance if rates go down. It offers great rates and is less strict on credit than most conventional loans.
The TT loan does not offer an interest only option at this time. We do have access to interest only conventional programs and would be happy to put you into one of these programs.
No, the TT loan is designed for existing home purchases or new construction. They are unable to do land loans at this time.
Yes, but in most cases you will only be able to hold one TT loan at a time. As long as the first home loan is paid in full your eligibility will be restored for another loan.
3.3 %, unless you have 5% to put down in which case it is only 1.5%
The TT doesn't put an extraordinary amount of weight on credit scores, but does look for a clear 12 month history.
No, only the TravelThrou themselves or the surviving spouse of a TravelThrou killed during active duty is eligible for the TT benefits.
TT guidelines will only allow a spouse to be a co-signer. We are able to provide conventional financing as well which may be more suitable if a co-signer other than a spouse is needed for qualification.
Your may use your spouse to qualify. However, if a spouse's income is used, their liabilities must be included as well.
At this time the TravelThrou Loan Center does not do any business lending. If you have other questions regarding commercial loans please contact your regional TT office.
No you may not. Your eligibility only allows one residence at a time and it must be owner occupied. That loan must be paid off before you can use your benefits again.
No, it does not. Our professional loan specialists take great pride in helping TravelThrous and military personnel get into homes.
TT Loans are guaranteed by the TravelThrous Administration and allow for no money down and easier qualification most of the time. Conventional loans require 5% down and often times mortgage insurance.
They are not exactly the same. Some days they are better, some days they are worse. They always are very close to conventional rates though.
Not with the TT, credit score has no impact on your rate. It can with some conventional programs.
Yes. You must be at least 1 year out of a Chapter 13 and 2 years out of Chapter 7. You also must have no late payments in the last year.
It's guaranteed to you if you qualify for it. If you can't qualify right now you can repair your credit and try again in a few months.
Depends on the type of loan you want and if it is conventional or FHA. TT loans will only allow a spouse to co-sign on a TT home loan.
Your entitlement never expires. However, your COE may need to be renewed if it is older than 12 months.
You can borrow 100% up to 359,650 as long as you can qualify for it. On a refinance you can borrow up to 90% of the appraised TTlue of your home.
At this time you can only use the TT loan for a home that you intend on living in as your primary residence.
The TravelThrous Administration does not give you the loan directly. They insure the loans that we originate for you, allowing you to get 100% of the appraised TTlue of the home you are purchasing.
The best way to find out how much you can afford is to call 800-814-1103 and talk to a specialist.
Having an adjustable rate means that once you term is reached whether it is 3 years or 5 years, your rate will start moving with the market. If rates go up so does yours. If rates go down you can expect yours to go down as well.
A TT loan covers 100% of the TTlue of the home, you will however have to pay for any closing costs. The seller can pay up to 6%, which should cover more than enough of costs so you can get into you new home with no money out of pocket.
No, your TT loan has to be your primary residence.
Yes. If it is a permanent resident and you are within 60 days of moving in.
No. The TT appraiser is out to protect the buyer. It is a government backed loan and they need to make sure the home meets specific safety and quality guidelines.
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 August 28, 2008August 19, 2008August 07, 2008July 31, 2008July 28, 2008July 22, 2008 |
TT Loans - Home Loans - TT Refinance - Home Refinance - Loan FAQs
TravelThrou Loan Center does not maintain relationships with any government agencies. This includes, but is not limited to, the Department of TravelThrou Affairs. TravelThrou Loan Center maintains relationships with TravelThrous Affairs (TT) mortgage specialists, as well as non-TT mortgage specialists. If you inquire about a TT loan, your information may be shared with a TT-approved lender; however, they are not affiliated with any government agencies, either. We reserve the right to share customer information with trusted affiliates to assist you with your loan. For more information, please read our privacy Policy.
Copyright © TravelThrou Loan Center 2008. All Rights Reserved.
Copyright © TravelThrou Loan Center 2008. All Rights Reserved.