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Maximum VA Loan county limits for 2012 released

Written by Jackie Kurz | 31 January 2012

The Department of Veterans Affairs Loan Guaranty Program recently published county "limits" to be used for VA Loans effective January 1, 2012. Please note, these limits do not reflect a maximum amount that an eligible veteran is permitted to borrow, but rather, reflects the VA’s maximum guaranty amount for a particular county.

The maximum VA guaranty amount for loans over $144,000 is 25 percent of the 2012 VA limit. For example, an eligible veteran may borrow up to $625,500 to purchase a property in Washington, DC (2012 VA limit), with the VA guaranteeing 25 percent of the loan amount, or approximately $156,375.00.

What does 'no consideration' deed mean?

Written by Catherine Schmitt | 27 January 2012

When someone says “no consideration” deed, what does it mean? Does it mean no transfer and recordation taxes? No. It actually means that the property is being transferred via deed without money exchanging hands.

Not all no consideration deeds are exempt from transfer and recordation taxes. There are a number of situations where a “no consideration” deed is appropriate and some of them are as follows:

Deed transfers involving LLCs... Explained

Written by Catherine Schmitt | 31 January 2012

Today we will look at a couple scenarios that involve transferring title from an individual to a Limited Liability Company or LLC.

Scenario 1: Transferring title to an LLC

John buys a condo as an investment property in his name and now wants to put it into an LLC, to limit his liability. How much will this cost?

Title insurance explained...

Homebuyers often ask, "Why do I need title insurance?" Discover how title insurance works and why you need it.

Closing costs explained...

Whether buying a new house or refinancing your home, stay in control by understanding the closing process.