VA Loans Insider
All you need to know aboutgetting a VA mortgage.
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The world of VA loans and mortgage lending can be a confusing and intimidating one. Making a $150,000 or $300,000 purchase is scary enough. It can get worse when you feel uninformed or uncertain of the path that leads to such a big, often life-changing transaction. My goal is to try and help allay those [...]
When it comes to the current housing market, the buyers are in charge. Sellers often make concessions to sweeten the deal, which is allowed when you’re buying property with a VA loan. Think of a seller concession as a gift of sorts—something of value that the seller offers to bring a buyer to a final [...]
For the vast majority of military borrowers, VA loans are the most powerful and cost-effective mortgage program on the market. These government-backed loans come with significant financial benefits that help veterans purchase with no money down and no out-of-pocket spending up front. But there are certainly times when a VA loan isn’t the best answer. For [...]
To have a VA entitlement is to have a financial guaranty from the government, which pledges to repay a portion of your home mortgage in the event of default. Your entitlement is a specific dollar amount. First-time home buyers have 100 percent of their entitlement remaining on the Certificate of Eligibility, which stands to reason, [...]
The concept of VA entitlement is often a confusing one. You can think of it as something you’re entitled to given your service to our nation. This is certainly a hard-earned and well-deserved benefit. But that’s not what it really means, at least in practical terms. Veterans who are eligible for a VA loan have [...]
The VA home loan process doesn’t have to be an overwhelming experience. Prospective borrowers, especially first-time homebuyers, often start this journey with a laundry list of questions and concerns. But sometimes it’s good to step back and take a higher-level view of the steps involved with securing a VA loan. The distance can help ease [...]
We’ve already written about the huge year the VA Loan Guaranty program had in 2011. The VA made it official in a press release this week. But the department also passed along a pretty incredible statistic, courtesy of the Mortgage Bankers Association: For all loan types, VA loans have had the lowest foreclosure rate for [...]
It’s the home of your dreams. Your offer has been accepted. You can’t wait to get your loan finalized and start moving your furniture in. But a home inspection reveals a leaky basement. That charming porch is on the verge of collapse. And lurking behind the freshly painted walls are thousands of termites. Time to [...]
Despite the reams of documents and sophisticated computer programs, home lending is ultimately a business comprised of human beings. That means there’s always a chance for something to go wrong. Simple mistakes, oversights and paperwork flubs do occur. Most of the problems that could affect your loan are easily fixed, if not easily preventable.
It’s important to remember that being eligible for a VA loan and actually getting one are two very different concepts. To be eligible means the VA has determined you meet the initial VA loan eligibility requirements and have earned some degree of home loan entitlement. But your Certificate of Eligibility isn’t a coupon you can [...]
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