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Va Home Loan Articles

Who is Eligible for a VA Loan ?
The Department of Veteran Affairs has specific guidelines for VA Loan eligibility: length of term served, conditions of discharge, conditions of service (peacetime or wartime), and branch of military served.  If you have ever served in the miltary, please read on for...
What are the requirements for a VA loan?
This article does not address the VA Loan Eligibility, but describes in detail the standards that Veterans of the United States must meet for getting a loan from the Department of Veteran Affairs. Under certain circumstances, like job relocation, a veteran may borrow two VA...
How to Restore VA Entitlement
If you have paid off your VA loan in full and no longer own the property, you may request a restoration of entitlement.. Log onto VA PortalTo do so, log into your portal and click on the “Click Here” link directly underneath the “My Home Loan Benefit...
Getting Certificate of Eligibilty for VA Loan
If you are going to apply for a VA loan, you will need to present a Certificate of Eligibility to your lender.  The quickest and easiest way to obtain a Certificate of Eligibility is online.  First, you will want to register for the online portal.. Register on the VA...
VA Loan Limits
As with all mortgage programs, loans guaranteed by the Department of Veteran Affairs, also known as VA loans, carry limits on the amount of funds which borrowers can obtain. These VA loan limits vary by region, and with new guidelines in place for 2014, loan limits have...
VA Loan Frequently Asked Questions
Why get a VA loan?VA loans provide exceptional benefits that cannot be acquired through other loan programs. For instance, VA loans allow borrowers to purchase a home without a down payment, one of the few remaining mortgage loans with this characteristic.  . The...
VA Loan Certificate of Eligibility
In order to receive a VA guaranteed loan, applicants must acquire a Certificate of Eligibility (COE). Applicants eligible to receive a Certificate of Eligibility for a VA loan are divided into three categories:. VeteransActive Duty Service personsReservists or Members of...
Buying a Home With a VA Loan
1. Determine eligibility.Prior to taking the steps necessary to apply for a VA loan, borrowers should determine whether or not they meet the strict eligibility requirements, as the Department of Veteran Affairs only issues mortgage loans almost exclusively to active duty...
VA Loan Entitlement
VA mortgage loans offer exceptional benefits for those who meet the strict eligibility requirements of a VA loan.  Due to the Department of Veteran Affairs guaranteeing these loans, lenders can provide veteran and active duty servicepersons with incredibly...
VA Loan Benefits
The Department of Veterans Affairs (also known as VA) has helped more than 357,000 military veterans and their family to finance a home purchase in 2011. In 2012, the agency guaranteed more than $74 billion in loans, making the VA home loan program one of the most beneficial...
Refinancing Your VA Loan
VA loans offer two options for refinancing to veteran homeowners. The IRRRL streamline refinance is designed to lower your interest rate to contribute to lower monthly payments, ensuring there is no delinquency on the mortgage. The alternative is taking out cash for...
Top 3 Tips on Qualifying for a VA Loan
VA loans offer many benefits, however not everyone qualifies for this type of financing. Here are three tips that can help determine whether you meet the VA loan qualifications.. 1. Know the basic eligibility requirements for a VA loan.To qualify for a VA loan, you must have...
Types of VA Loans
VA Fixed LoanVa loans are most commonly set to a 30-year fixed rate. 15-year is also available for paying off the mortgage twice as fast. Generally this will incur higher monthly payments. . VA Hybrid ARM LoanThe VA Hybrid adjustable-rate mortgage (ARM) begins with a...
VA Loan Forgiveness - Debt Forgiveness for U.S. Veterans
The United States military has several programs in place that are designed to help military service members and their families avoid foreclosure and manage their debt. Most military bases have a Family Support Center where you can gain financial counseling. The counselors...
VA Loan Closing Costs
For military borrowers, VA loans provide exceptional benefits exclusive to active duty servicepersons and military veterans. In order to provide assistance for veterans, the Department of Veteran Affairs (VA) enforces strict guidelines on the closing costs which...
VA Loan Advantages Versus Conventional Loans
For first time home buyers or homeowners planning to refinance for the first time, determining the optimal mortgage product or home loan option to best satisfy your needs can be challenging. In securing a home, borrowers must position themselves in a place to build wealth and...
Popular VA Refinance Options
If you are looking to refinance your VA mortgage loan, the two popular options to choose from are: VA cash-out refinance or a VA streamline refinance. In short comparison between these two refinance options, the VA cash-out refinance allows borrowers to extract cash from...
Comparison: VA Loans Versus Conventional Mortgages
While certain homebuyers may qualify for both loans, generally one option will benefit the borrower more than the other, depending on his or her situation. The main differences between VA loans and conventional loans are the eligibility qualifications, mortgage...
VA Loan Short Sale Guidelines
VA Loan Short SaleTo counter the difficulties of owning a mortgage while being subject to relocation, the Department of Veteran Affairs (VA) offers guaranteed VA loans.  These loans provide tremendous advantages and benefits compared to traditional loans,...
VA Mortgage Insurance Is Not Required
Unlike the vast majority of mortgage programs, VA loans do not require down payments, allowing borrowers to purchase homes with minimal upfront costs. While FHA loans allow borrowers to purchase homes with a minimal down payment of 3.5%, VA loans include an additional...
Can I Get a VA Loan for a Second Home?
The major obstacle that prevents many borrowers from purchasing a second home with a VA loan is the VA primary residence requirement. This requirement stipulates that VA mortgage loans can only be applied toward the purchase of a primary residence. The owner must occupy the...
Benefits of Refinancing With a VA Mortgage
 Since the end of the Second World War, over 14 million U.S. veterans have received a home loan through the Department of Veterans Affairs. One of the most common home loan programs available, VA loans offer tremendous benefits to qualified military personnel. Many are...
VA Loan Modification
The Department of Veteran Affairs provides many ways for eligible veteran borrowers to retain ownership of their homes during financial hardships. For veterans who have purchased a home with a VA loan, the VA offers loan modification as an option, allowing borrowers...
Approval of VA Lenders
VA loan mortgages offer exceptional benefits exclusive to military servicepersons and veteran borrowers. However, these loans cannot be acquired from all lenders; rather, VA-eligible borrowers must find VA lenders who have been approved by the Department of Veteran...
VA Loan Down Payment
Following the mortgage crisis at the end of the last decade, the no down payment mortgage loan has all but disappeared for the majority of prospective homeowners. Many borrowers have settled for the FHA minimum down payment of 3.5%, although conventional mortgage loans...
How to Calculate VA Mortgage Entitlement
The Department of Veteran Affairs determines a borrower’s entitlement based on the veteran’s VA eligibility, in terms of credit score, debt-to-income ratio (DTI), and military service. As with the Federal Housing Administration (FHA), the VA does not...
VA Loan Approval
For first-time homebuyers, VA mortgage loans can be somewhat confusing, due to the unique characteristics of this program. However, along with these unique characteristics, VA loans include many advantages exclusive to military borrowers. Rather than issue loans, the VA...
VA Loan Appraisals and Home Inspection
Eligible military borrowers must obtain a VA appraisal prior to securing a VA mortgage loan. Unlike typical appraisals, VA appraisals take additional factors into consideration and can present challenges to some borrowers, especially those considering purchasing...
Understanding the VA Loan Application Process
Here are a few easy and cohesive steps to a smart and stress-free VA loan application process. 1. Get a Certificate of Eligibility (COE).The first step of the VA loan application process requires that you must qualify for a VA loan. A Certificate of Eligibility, or COE, assures the...
Can I get a VA Loan after Short Sale or Foreclosure?
VA mortgages are among the best home financing options available today.  Veterans have earned the right to secure this unique mortgage opportunity that offers 100 percent financing and no mortgage insurance.. It is wise to work with an experienced VA loan officer...
Qualify for a VA Loan after a Foreclosure or Short Sale
Due to the unpredictability of military orders, many qualified VA borrowers have undergone foreclosures and short sales on their VA loans as a result of having to relocate away from a mortgaged property.. To counteract this, the Department of Veteran Affairs (VA) includes...
15-Year VA Mortgage Loan
Active duty service personnels and veterans who would prefer to pay off their homes faster should consider the VA 15-year fixed-rate mortgage(FRM) loan, rather than the standard 30-year mortgage. Through this repayment schedule, borrowers will repay the mortgage debt in...
VA Hybrid ARM (Adjustable Mortgage)
The VA Hybrid ARM loan, combines the qualities of both fixed and adjustable rate mortgages. Essentially, the mortgage begins as a fixed rate mortgage for the first 3, 5, 7, or 10 years with interest rates locked into place. Following this period, the mortgage becomes an...
5 Common Obstacles to VA Home Inspection
Although the acquisition process for VA loans includes multiple steps, many military borrowers face the most difficulty during the VA home appraisal and the mandatory VA home inspection. Prior to closing the loan, the Department of Veteran Affairs enforces several...
What is VA Funding Fee?
In order to secure home loan benefits through the Department of Veteran Affairs (VA), VA-eligible borrowers must pay a mandatory VA funding fee. Through this charge, the borrower contributes toward the cost of the highly advantageous VA mortgage loan program, thereby...
Fees associated with VA Loans
Many prospective borrowers are curious about what VA loan fees will be charged in conjunction with their loan, and more specifically, how much cash is necessary upon closing.  When looking at all of the fees and charges, many of them can be negotiated with and paid by the...
VA Loan Credit Score Requirements
While the credit requirements for the VA home loan program are much more lenient than more accessible loan programs, applicants must still meet the credit and income criteria established by the Department of Veteran Affairs (VA). While the VA has not set a minimum...
Understanding the VA Construction Loan Process
The U.S. Department of Veteran Affairs (VA) allows eligible military borrowers to acquire VA mortgage loans to fund the purchase of both existing and new home constructions. Consider the following factors for VA Construction Loans and the process of constructing a home with...
Securing a VA Business Loan
VA loans, or more specifically, Patriot Express Loans, and Military Reservist Economic Injury Disaster Loans, are guaranteed loans offered by the Small Business Administration (SBA) for military Veterans, active duty servicepersons, and their spouses. While not a...
Buying a VA-Approved Condo
A VA condominium ownership can have numerous benefits over homeownership; with a much lower monthly cost and attractive or convenient amenities, buying a condo with a VA loan could be optimal for some borrowers.. However, not all mortgage loans can be used to purchase...
Finding the Best VA Lender
When a borrower is thinking about taking out a VA home loan, one of the most important pieces of the puzzle is selecting the right lender with whom he or she will be taking out the loan.  A home purchase is easily one of the biggest purchases a borrower can make, as a result, the...
Memorial Day 2013: Remind Veterans of VA Loan Eligibility
In honor of Memorial Day this upcoming weekend, remember to remind the veterans in your life that they are eligible for a VA loan.  Even if you currently have a conventional or FHA loan, you are still able to refinance with a low-rate VA loan.  The majority of veterans...
Making the Most of VA Mortgage Loans
While the majority of loan borrowers will never qualify for a VA loan due to the requisite military service, loans guaranteed by the Department of Veteran Affairs offer incredible home loan advantages to veterans and active servicepersons. However, despite the numerous...
What Every Veteran Should Know About VA Home Loans
The VA loan program has many advantages. If you are a veteran interested in purchasing a home, take time to investigate this unique home loan program created specifically for you.. Because VA loans target a very specific market, the guidelines can be confusing. That's why...
VA Loan Advantages and Disadvantages
Loans guaranteed by the Department of Veteran Affairs (VA) provide military veterans with additional home loan benefits not available to most civilian borrowers. While the benefits outweigh the drawbacks in almost all circumstances, borrowers should consider the...
9 Ways VA Home Loans Beat Conventional Mortgages
If you're a veteran, it's common knowledge that a VA home loan is a better choice than a conventional mortgage.  Research backs this assumption.  We've complied the top nine factors that make VA mortgages the best option for financing a home purchase.1....
Debunking VA Loan Myths
Throughout the mortgage community, several myths have spread about the VA home loan process. Before shopping for a mortgage, get the truth behind these beneficial loans:. Myth: VA purchase loans do not apply to short-sale or foreclosed properties.Fact: VA home loans may be...
Va Loans
Veterans who qualify are eligible to take advantage of the VA mortgage loan program, a specialized loan type provided exclusively to veterans of the US Armed Services. These loans are backed and guaranteed by the Department of Veteran Affairs (VA) and are highly flexible.....
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