VA Loans and Mortgages Future Military Homeowners

  • Using a VA Loan to Buy a Newly-Built Home

    With the housing market still in the throes of its dramatic slump, this year could be a great opportunity to snatch up a newly-built home with a VA loan. Buying new construction carries its risks, however. Knowing  how VA loans work is the first step toward getting the home of your dreams, and if you’re worried about your credit, Veterans United’s Lighthouse program can help you get on the right track. Her…

  • Is Purchasing a Foreclosed Home with a VA Loan Worth the Hassle?

    The VA loan, intended to help military members secure a home, may inadvertently become a hindrance. The loan’s strict requirements, which are meant to protect the buyer, could make it difficult for service members to purchase a foreclosure. Since the collapse of the housing market, foreclosed homes have become abundant. In many areas, they represent the best deal for future homeowners. Yet, for active and retire…

  • Whatever Happened To Interest?

    Whatever Happened To Interest?

    Cash is a wonderful thing. It may be true that it can't buy love or happiness, but it sure is useful when it comes to groceries, gasoline and mortgage payments. Real median household income, says the Census Bureau, reached $51,939 in 2013. That's 8 percent less than households earned in 2007, one year before the recession and housing market crash. Not only has income gone down, but expenses have increased a…

  • Should You Buy A Home Warranty?

    Should You Buy A Home Warranty?

    Read the Fine Print Before You Sign Up

    The marketing ploy is tempting to homeowners: buy a home warranty and repair issues like a broken heat pump or garbage disposal won't come out of your wallet. But as consumer experts warn, the reality is rarely that simple. "It's an industry that has seldom lived up to the hype of their marketing materials," said Clark Howard, consumer expert and author of "Clark Howard's Living Large for the Long Haul." "People have a very hard time getting the blanket coverage that's promised by the brochur…

  • What is Title Insurance And Why Am I Buying It?

    What is Title Insurance And Why Am I Buying It?

    Anytime you finance a home purchase — whether through a VA loan or a conventional mortgage lender — you're required to buy lender's title insurance as part of your closing costs. If you refinance, you'll need to buy lender's title insurance but not an owner's policy since the property isn't changing hands. Lender's title insurance protects the lender for the duration of the loan in case there's a titling issue such as a lien on the property or a boundary dispute with a neighbor. But what …

  • 5 Expert Tips For Your VA Purchase

    5 Expert Tips For Your VA Purchase

    You're a veteran or service member, and you want to purchase a home. You've smartly decided to use your hard earned VA mortgage entitlement. But from there, you are less certain of how to ensure you get the best deal. There are numerous tips, tricks and negotiation tactics that can help you obtain a good deal. Here are 5 important tips to make the most of your VA purchase transaction. Ask For Seller-Paid Closing Costs When using your VA benefit, it's important to consider how you'll …

  • Should You Consider a 15-Year Mortgage?

    Should You Consider a 15-Year Mortgage?

    As interest rates inch upward, home-buyers looking to save on their loan may be considering 15-year mortgages instead of the traditional 30-year mortgage. Or those refinancing their mortgage may look into shortening the term with a 15-year mortgage. In fact, Freddie Mac data shows that 31 percent of homeowners who refinanced during the second quarter of 2013 shortened their loan term (a three percent increase from the previous quarter). A 15-year mortgage is best suited for those who are fina…

  • FHFA Strives to Protect Veterans From Eminent Domain

    In Richmond, Calif., the local authorities have come up with a new way to fight slow home sales and declining property values: they want to use their power of eminent domain to refinance underwater homeowners. If successful, Richmond's use of eminent domain could limit the use of VA-backed mortgages. We usually associate "eminent domain" with the ability of government to take physical assets. Traditionally, a loca…

  • What Happens to My Mortgage Application When I Take a Leave of Absence?

    What Happens to My Mortgage Application When I Take a Leave of Absence?

    When you have unexpected (or even planned) absences from work, they can be stressful. This stress is multiplied when an absence become extended, and a loss or reduction in pay occurs. Whether your leave is planned, like maternity or paternity leave, or unplanned, like an accident or health condition, employers take different stances on how you'll be compensated. Some are fortunate and receive their full pay and benefits when on extended leave. Others take a reduction or no pay for all or p…