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Just a few changes to some counties. See HERE for a link with county limit changes. Contact me If you are unsure how this can affect your VA loan “2014 VA County Loan Limits The Department of Veterans Affairs (VA) Loan Guaranty program does not set a maximum amount that an eligible Veteran may […]
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In addition to the VA streamline refinance program, also known as IRRRL, the VA offers a VA cash-out refinance for homeowners who want to take home equity out as cash. These funds can be used to pay off debt, make home improvements, pay for school, etc. While the VA IRRRL can be used only for existing VA […]
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The VA loan program offers veterans, active military and other specific groups the opportunity to purchase a home with 100% financing. However, the program does not end there, but continues to provide benefits to homeowners, one of which is the VA Streamline Refinance program or IRRRL. IRRRL stands for the Interest Rate Reduction Refinance Loan […]
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VA loans are different than other types of mortgages, especially when considering the fact that they offer 100% financing. While the VA does not actually make loans, they do guarantee lenders that, in the event of a borrower’s default, the losses will be covered. Keeping this in mind, VA loan underwriting is somewhat different from […]
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It almost seems ironic that a mortgage program that offers 100% financing and accepts lower than average credit scores could become the mortgage industry leader. However, that is exactly what the VA loan program has accomplished during these recent years when other mortgage programs have been struggling with defaults and foreclosures. In 1944, the Veteran’s […]
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While there are many different types of mortgages available, nothing can beat the multiple benefits that borrowers can enjoy with VA loans. VA loans are truly designed to help military borrowers attain homeownership for the long term. When researching different loan types, borrowers will find that these are the 12 best reasons for choosing a […]
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Understanding VA Entitlement can be very confusing and often misunderstood. While it is something that is a VA benefit, it is actually a dollar amount that the VA guarantees to pay back to a lender in the case of a default on a VA loan. The basic VA entitlement is $36,000. However, there is much more […]
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VA loans are unique because they allow eligible borrowers to purchase a home with 100% financing – a true no-down payment mortgage. Although there are also other benefits that come from obtaining a VA loan, the allowable seller contributions to the transaction are above any other mortgage. However, knowing the difference between seller concessions and seller […]
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VA loans are known for the many benefits offered, one of which is the 100% financing available for eligible borrowers. However, whether purchasing a home or refinancing, borrowers can also take advantage of improving a home with a VA Loan Energy Efficient Mortgage (EEM). With a VA EEM, the cost to upgrade the energy efficiency […]
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VA loans rank as one of the best benefits offered to the military. Providing 100% financing for home purchases and refinances, VA loans also offer flexible guidelines for its borrowers. However, even with all of the benefits, VA loans are often overlooked for financing because of the misconceptions surrounding them. These loans are not difficult […]
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As part of the process to obtain a VA loan, servicemembers on active duty, veterans, members of the National Guard and Reserves and spouses must prove eligibility to the lender and, ultimately to VA. At the time of submitting a mortgage application, there will be specific documents that are needed for VA loan eligibility, some […]
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There are many loan options available to help consumers fulfill the dream of homeownership. The type of mortgage that is chosen usually depends upon the individual’s qualifications. However, many people may not know that they are eligible for the VA home loan program which is one of the best mortgages available today. What is a […]
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Since lenders are the ones loaning money and much of the VA systems are automated, the recent gov’t shutdown has not affected processing or closing times for VA home loans. This is great news as slowing down or stopping this program would have terrible consequences for our valued Veterans. There were many that were worried […]
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