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 […]
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 […]
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 […]
VA loans are popular with eligible veterans because they do not require a down payment which is otherwise needed for other types of loans. Even with 100% financing, a VA loan also does not require a monthly mortgage insurance payment. However, there are many questions surrounding the VA funding fee. Here is an explanation of […]
If done the right way, the mortgage process can be easy for everyone involved. However, very often this is not the case since many borrowers are not aware of the strict regulations regarding this industry which have been put into place in recent years.. Since a mortgage involves lending someone a large amount of money, […]
Purchasing a home without the need to use your own cash out of pocket is highly unusual in today’s mortgage industry. In fact, over the past few years, many lenders have required larger down payments from home buyers. A VA loan is different in that it allows eligible borrowers to make a home purchase without the […]
One of the biggest obstacles that prevents consumers from a home purchase is being able to save for the required down payment. Almost all types of mortgages have down payment requirements that can be as low as 3.5% for an FHA loan to a minimum of 5% for a conventional loan. However, for those who […]
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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