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There are many benefits that come along with a VA loan. Each one is designed to help the borrowing veteran obtain an affordable mortgage. VA loans can be used for the purchase of a home or for refinancing an existing mortgage. Find out here how you can benefit with a VA loan: http://www.slideshare.net/VeteranHomeFinancing1/the-many-ways-a-va-loan-can-help-you
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TRID, mandated as part of Dodd-Frank, went into effect on October 3, 2015. It is meant to be a help to consumers in understanding the costs, risks and key elements of their mortgage. TRID is in effect for all home purchase and home refinance transactions. TRID stands for TILA-RESPA Integrated Disclosure. This rule was implemented […]
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While there are multiple mortgage programs available for today’s consumers, not all are suited for homebuyers and existing homeowners. Some programs, such as VA loans, are backed by the U.S. government and are available to a specific group of people. Active military and veterans have the advantage of using a VA loan which offers specific […]
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Same sex marriages have been at the forefront in the news recently. While Federal law states that veterans and their spouses are eligible to apply jointly for VA loans, unmarried couples (states where same sex marriages are not recognized) could only get support if all parties were eligible for the benefit on their own. Back […]
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Many people today are using VA loans for home purchases since there are numerous benefits including 100% financing. A VA joint loan is one for which the veteran and another person own the property and are both liable. This includes: -the veteran and one or more non-veterans (not spouse) -the veteran and one or more […]
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VA loans have grown significantly popular in recent years. As one of the best mortgage programs available in today’s market, VA loans are making it possible for many consumers to become homeowners. Available to veterans, service members and military families for a home purchase or refinance, VA loans offer benefits that do not come with […]
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VA loans are unique and have occupancy requirements when purchasing a home. This is due to the fact that a VA loan is a benefit that is reserved for veterans, active military personnel and other specific groups. However, when it comes to refinancing a VA loan, homeowners will find that these occupancy requirements may be […]
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When deciding on what type of mortgage to obtain, veterans need to consider the benefits of using a VA loan. Here is a presentation that shows the advantages vs. the disadvantages of VA loans. It’s not surprising that disadvantages are few. Va loans advantages vs. disadvantages (1) from VeteranHomeFinancing1
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Many military members will decide to use a VA loan for the purchase of a home. With 100% financing (no down payment required) and other specific benefits, this is the best type of mortgage for those who qualify. Obtaining a VA loan is not difficult if you know the 5 key elements for a VA […]
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Over 29 million Americans are eligible for a VA loan to purchase a home at this time. This is a benefit that cannot be matched by any other type of mortgage. While the main feature of a VA loans is the no down payment requirement, there are other benefits that are equally as important and attractive. […]
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So far this year, VA mortgage rates have remained considerably low making the market both affordable and attractive for consumers. Some of these consumers are already homeowners while others may be searching for a permanent home. Either way, as the current trend continues, you should seriously think about these 2 reasons to consider utilizing low […]
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As mortgage professionals, we can never take for granted that consumers understand everything about mortgages. This becomes especially true with VA loans which are quite different than other mortgage programs. To help with this matter, below is an easy to follow question and answer guide about VA loans. VA Loans – Frequently Asked Questions
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While other mortgage programs are constantly changing their rules in order to attract more consumers, the VA loan program is able to remain consistent. Why? Because from the start, the program was designed as a military personnel benefit that helps eligible veterans attain the dream of homeownership. With this in mind, it is important that […]
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Mortgage rates have once again dropped to a point that homeowners may have an advantage in the market. For those who are eligible for a VA loan, exploring the options that are available to you for a VA refinance might be worth your consideration. Refinancing a VA loan can be a way to save a […]
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When you are thinking about obtaining a mortgage, the very first step is finding a lender to work with you. A VA loan is different than any other type of mortgage and requires that specific guidelines be followed for the success of the loan. If you are a VA loan borrower, it would be to […]
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Just like all mortgage rates, VA rates will fluctuate between highs and lows. When VA mortgage rates are low, it is an especially a good time to take advantage of the VA IRRRL. The VA IRRRL stands for Interest Rate Reduction Refinance Loan, also known as a VA streamline refinance or “VA to VA”. The […]
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After spending years in the background of mortgage programs, VA loans have been getting the well needed attention that they deserve. Overall, 2014 has been a successful year for VA loans as more homebuyers turned to them for financing. Back in June, the VA home loan program celebrated its 70th anniversary. The program started in […]
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Many people who are entitled to a VA loan are not aware of the benefits that come with this type of home financing. Here is an easy to follow presentation to help learn the facts about VA loans: VA Loans forgetthe mythslearnthefacts from VeteranHomeFinancing1
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This week we celebrate Veterans Day which is the official holiday in the United State designated to honor those who have served in the U.S. Armed Forces who are also known as veterans. Observed on November 11th, it is a observed as a federal holiday. This day was originally celebrated as Armistice Day which marked […]
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Many consumers are eligible to purchase a home with a VA loan which guarantees the lender against a loss in the event of a default. It also provides favorable financing terms to the borrower, such as the purchase of a home with no down payment necessary. However, there are other important facts to know about […]
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A VA entitlement is a guarantee that the government will repay a portion of the mortgage to the lender in the event of a default. Many homeowners have used their VA entitlement for the purchase of a first home. However, at some point, they may wish to use their entitlement again for another home purchase. […]
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Hazard insurance for the home protects a homeowner against loss from a variety of events that may occur, including fire, theft, lightning and certain water damages. On the other hand, flood insurance is separate and protects against flooding. Many home buyers wonder if VA loans require them to obtain hazard and flood insurance. All homes […]
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VA loans offer many benefits to eligible borrowers, although the most popular is the opportunity for obtaining a no down payment loan . However, a unique advantage often overlooked is in regard to closing costs. The VA protects the veteran by limiting the types of closing costs that the borrower may pay. In addition, the […]
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Although most people have heard about VA loans, there are many who do not understand what it is all about. Here we will address the common questions and answers about VA loans. What is a VA loan and who can obtain it? A VA loan is a special direct home loan program that is issued […]
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Statistics show that most homeowners will not hold their original VA mortgage for the entire term of the loan. Today, refinancing is popular after owning a home for several years because easy online access to competitive mortgages has made this possible. With many questions surrounding this transaction, consider these 4 reasons you should refinance your […]
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