Scenario: Calandra is a veteran who has been employed with a technology company for the last seven years. In her newest job with this company, she is required to spend six months a year in Seattle, Washington, and spend the other six months at the company's Miami, Florida headquarters. Recently she purchased a two$-$bedroom condo in Miami using her VA benefits and now wants to purchase a small twobedroom, $2-$bath condo as a place to live when she is in Seattle. She wants the condo to be located close to downtown so she can use public transportation. Financially, Calandra qualifies under both the payment ratio and debt ratio for the new loan, has a FICO score of $620,$ but she does not have a lot of money to put down on the new condo in Seattle.

Checklist:

Research the current loan limits using the Internet.

Search a well$-$known real estate website like

realtor.com or

zillow.com etc., and find a property that fits the veteran's criteria and for which she will qualify for an FHA or VA loan.

Describe the property you find and evaluate the criteria by which the property must qualify in order to get the FHA or VA loan you determine she would qualify for.

Determine what type of government sponsored low down payment loan she would qualify for.

Explain why other low down payment loans would not work for her.

Determine what her down payment would need to be for the loan program you recommend for her $($show calculations$).$

Describe the guidelines that qualify her for the loan you are recommending.