Getting a VA Loan VA Loans Insider

  • How to Tackle a Tax Lien and Secure Your VA Home Loan

    How to Tackle a Tax Lien and Secure Your VA Home Loan

    Federal tax liens are a serious business. But they don't necessarily have to derail your VA home purchasing plans. The Internal Revenue Service can put a federal tax lien on your residential or business property, your assets and other important considerations if you've neglected or simply failed to pay a tax debt. The lien, which helps safeguard the government's financial interest, can attach to your property,…

  • How to Use Power of Attorney to Purchase With a VA Loan

    How to Use Power of Attorney to Purchase With a VA Loan

    The concept of Power of Attorney (POA) is a well-worn one for military members and their families. This legal instrument allows a service member to designate a person who can enter into contracts and execute other civil, financial and legal obligations on their behalf, often because of a deployment. VA home loans are absolutely on that list, and the time to get the ball rolling on one is right now. The VA e…

  • Guaranty v. Guarantee: Why You Don't Automatically Get a VA Home Loan

    Guaranty v. Guarantee: Why You Don’t Automatically Get a VA Home Loan

    Words mean what they mean. When it comes to the VA home loan program, one of the most confusing ones out there is "guaranty." A guaranty is basically when someone agrees to pay a debt for someone else in the event that person defaults. In the context of VA loans, the guaranty is the VA's promise to repay a portion of the loan if you default. That financial pledge helps gives lenders the confidence to extend fi…

  • Community Property States Can Complicate Your VA Loan Chances

    Community Property States Can Complicate Your VA Loan Chances

    Update: Our guidelines have changed regarding a non-purchasing spouse's credit history in a community property state. Currently, Veterans United doesn't consider a non-purchasing spouse's credit score or derogatory credit, including things like collections, foreclosures, bankruptcies, short sales and loan modifications. But we continue to consider the non-purchasing spouse's debts and liabilities, along with judg…

  • 5 Signs You Are a Great VA Loan Candidate

    5 Signs You Are a Great VA Loan Candidate

    VA loan applicants come from all kinds of different places in life. Some are soldiers deployed overseas, defending our freedoms while also hoping to claim a piece of the American dream they're fighting to protect. Others are veterans decades removed from military service. Some are even surviving spouses of those killed in the line of duty or of a service-connected disability. They can also come from very diffe…

  • CAIVRS, Federal Debts & Landing a VA Home Loan

    CAIVRS, Federal Debts & Landing a VA Home Loan

    In a perfect world, when you're ready to purchase a home using your VA loan benefits your financial slate is clean. Our Lighthouse program can coach you through credit problems and help you achieve your dream of homeownership. But debt and derogatory credit can be a different issue. When it comes to having derogatory credit, lenders can live with a certain amount. They'll often have an in-house cap for the …

  • Can I Qualify for a VA Loan Using GI Bill Assistance?

    Can I Qualify for a VA Loan Using GI Bill Assistance?

    Questions about education income and qualifying for a VA home loan are among the most common we receive. I've found the answer is generally among the most disappointing to give. Unfortunately, lenders do not view education income as stable, reliable and likely to continue. Those are three key characteristics they'll look for no matter the loan type, whether it's VA, FHA or conventional. That can be difficult t…

  • Two Credit Score Facts That Should Make You Appreciate VA Loans

    Two Credit Score Facts That Should Make You Appreciate VA Loans

    The National Association of Realtors released a statement this week urging lenders to loosen lending requirements, which the advocacy group says would spur significant home sales and job growth. That plea comes on the heels of the NAR's monthly survey of more than 3,000 real estate agents. Buried in the press release are a couple of data points that should make military borrowers take notice. Agents who respon…

  • New Credit Scoring System May Make it Easier to Qualify for Mortgages

    New Credit Scoring System May Make it Easier to Qualify for Mortgages

    Military homebuyers may soon have an easier time meeting lender credit requirements thanks to a new credit scoring model that incorporates things like rent history, tax lien information and the use of short-term lending products such as payday loans. The new model is a joint effort from FICO, whose credit score dominates the mortgage lending industry, and CoreLogic, a consumer data firm that collects informati…

  • Frustrating at Times, Here's Why VA Appraisals Are Still Your Friend

    Frustrating at Times, Here’s Why VA Appraisals Are Still Your Friend

    Prospective homebuyers rarely think of it this way, but VA appraisals are actually a form of protection for veterans. Instead, many see them at best as a necessity or a hassle and at worst a punitive and arbitrary step that endangers their homebuying or VA refinance plans. Those frustrations are often understandable, given the crucial role VA appraisals play in the process. But it really is important to step b…