Felipe Massa and Djokovic back Le Mans bid with Brazilian group
Both athletes are connected to OutField, a Brazilian group of investors that is making this new move in the market with the experience of having direct participation in Coritiba.
📸 Charles Coates - 2015 Getty Images
The financial contribution is part of Le Mans' plan to climb divisions. In the last 10 years, it has gone from the sixth to the second.
In the next season, which marks its 40th anniversary, the team will try to return to the elite of French football.
Le Mans competed in the country's first division between 2004 and 2011.
The city is famous for organizing for more than 100 years one of the most traditional car races in the world, lasting a whole day, the 24 hours of Le Mans.
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Bill limiting use of sales tax passes
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Key takeaways VA loans are available to active-duty military personnel, veterans and surviving spouses who need to finance a home purchase. You must provide a VA-approved lender with a certificate of eligibility (CEO) to prove you qualify for a VA loan before you can get preapproved. The VA loan process also involves getting your new home appraised, going through mortgage underwriting and closing on the loan. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership Eligible veterans, active-duty personnel and surviving spouses looking for a home can use a VA loan for financing. These types of mortgages, which are guaranteed by the U.S. Department of Veterans Affairs and available through lenders nationwide, tend to offer attractive fixed-rate loans with no money down. VA loans are also known for their more flexible credit score requirements. Here's what to know about getting a VA loan. 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Debt-to-income (DTI) ratio: You must demonstrate that you have sufficient income to cover your monthly debts, and an acceptable DTI ratio, usually no more than 41 percent, although some lenders might go slightly higher. You will also need to get a certificate of eligibility, or COE, since it shows that you meet the initial eligibility criteria for the loan. To get a COE, check the eBenefits portal on the website or contact the VA for help. Borrowers may also be able to apply through their lender. To obtain the COE, you might need to present the following documents: Driver's license or other government-issued ID Recent financial information, including W-2s, pay stubs and bank statements For active-duty members, a signed statement of service For veterans, discharge or separation papers (also known as form DD214) For surviving spouses, a marriage certificate or license In addition, there are restrictions on how to use a VA home loan. You must intend to use the home as a primary residence and occupy it within 60 days after closing, although the VA will consider timelines of up to 12 months based on your unique circumstances. Step 2: Shop around for a VA-approved lender Once you've determined your eligibility, you will need to find a mortgage lender that participates in the VA loan program. If you need help finding a VA-approved lender, you can contact a local Veterans Service Organization (VSO) representative who can provide a list of lenders in your area. Once connected with a loan officer, they can help you choose the best VA loan type for your situation, whether that's a purchase loan, a streamline refinance (IRRRL), a cash-out refinance or a Native American Direct Loan. They can also help you identify the documents needed to submit and what size loan you can qualify for. Bankrate insight Be sure to shop around, since different lenders can offer deals that vary by interest rate, closing costs and discount points. Step 3. Get preapproved for a VA loan The next step to getting a VA loan involves obtaining a mortgage preapproval. The document, given to you by a lender, indicates how much, in principle, a lender will lend you. It shows sellers you're serious about purchasing a home and that lenders deem you creditworthy to borrow money from them. While it's not a guarantee of the mortgage — for that, you need to present a specific property for appraisal and possibly additional documentation — it's an important first step. Here's what the pre-approval process looks like: First, you reach out to a VA-approved lender, submit an application and provide financial documentation, such as bank statements and past tax returns. The lender then runs a hard credit check to see your credit score and determine your creditworthiness. The lender assesses all the provided information and determines how much money you are eligible to borrow, and at what interest rate. If the lender decides you're preapproved for a mortgage, it'll provide you with a preapproval letter. Step 4. Find your home and make an offer Once you know how much money you are preapproved to borrow, you can start shopping for homes. Work with a real estate agent who understands VA loans; better still if this person specializes in helping members of the military. Veteran-friendly agents can help you understand what to look for in terms of maximizing your benefits. Your agent's job is to help you craft a strong offer and formulate a sound negotiation strategy. Once you've got an accepted offer and hammered out the details, you'll sign a purchase and sale agreement with the seller. Don't forget contingencies: These can include how long you have to secure financing, the amount of earnest money you'll need and the right to have a home inspection. It can also include sellers paying for some or all of the VA closing costs. What is a VA amendatory clause? Also known as an escape clause, a VA amendatory clause is a type of contingency that is designed to protect you if an appraiser values the property less than the asking price. For example, if you make an offer to buy a home for $300,000 but an appraiser determines it's worth $280,000, an amendatory clause gives you the right to back out of the deal without losing your earnest money deposit. It also provides the ability for you to make up the appraisal gap by making a larger down payment, if you can afford to. Step 5. Get a VA home appraisal and inspection A VA-approved appraiser will determine the home's value. This person will also help you assess whether a property meets the VA's property condition requirements, or Minimum Property Requirements, and VA home appraisal guidelines. This is also the stage where you'll commission a home inspection if that was agreed upon in the purchase and sale agreement. VA loans do not require a home inspection, but it's generally recommended that you don't skip this step. You'll be able to get to know your property better and back out of the deal if you can't get the seller to agree to make certain repairs before closing. During the inspection, the home inspector will ensure that the home meets the Minimum Property Requirements. Some of the things on this list include: Space requirements Property access and encroachments Hazards Utilities Swimming pools Home structure Signs of deterioration Proximity to airports Step 6. Complete the mortgage underwriting process Your bank or lender's underwriters will need additional documentation to evaluate your loan eligibility and make sure that you're 'cleared to close.' Documents you might need to submit include: Proof of income Bank statements Tax returns Identity verification Government-issued photo ID Certificate of eligibility Step 7. Close on your new home The closing step is where you'll sign documents indicating that you understand and agree to your loan terms. The process can involve: Receiving closing documents: Before your scheduled loan closing, you'll receive a document called a closing disclosure, where you'll see a breakdown of your final VA closing costs. The typical costs include a funding fee, which varies from 1.5 percent to 3.3 percent of the loan amount. Usually, the higher your down payment on a VA loan, the lower the fee. There are also exceptions: Surviving spouses and veterans with service-connected disabilities don't have to pay the funding fee. Completing a final walk-through: A day or so before signing, you can also do a final walkthrough of the property. Receiving keys to home: Once you sign all the closing documents, including the purchase agreement, you'll receive the keys to your new house. After closing, the VA will return your certificate of eligibility with a note stating that you have used (all or part) of your VA mortgage loan entitlement. Qualified borrowers can use their eligibility more than once to obtain a loan on a new home they intend to live in. VA loan process FAQ What are the benefits and drawbacks of VA loans vs. other loan types? One of the biggest advantages to getting a VA loan is that no down payment is required. You also do not need to pay mortgage insurance. However, there are also cons to using a VA loan, such as the VA funding fee and stricter VA appraisal requirements. How long does it take for a VA loan to be approved? The amount of time needed to get a VA loan approval can differ depending on your lender, your unique circumstances and the local market. The typical timeline is between 40 and 50 days. Some lenders can complete the process faster. For example, Griffin Funding claims to be able to close your VA loan within 30 days. Can I refinance a VA loan? Yes. The easiest way to refinance a VA loan is via a VA IRRRL, which stands for Interest Rate Reduction Refinance Loan. These are also referred to as VA streamline refinances due to the limited amount of documentation required for the process. The funding fee for a VA IRRRL is small — just 0.5 percent of the loan amount. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
