VA Loans Insider Page 10

  • Child Support Payments Can Help or Hurt Your VA Home Loan Chances

    Child Support Payments Can Help or Hurt Your VA Home Loan Chances

    Divorce can be a complicated and messy part of life. It can also create some potential complications when it comes to looking for a VA home loan. Lenders can count child support payments as effective income toward a mortgage, and that can help get veterans into the price range they want. But spouses who are paying that monthly support will have that money counted as an outgoing liability by mortgage lenders. …

  • Service Requirements for the VA Loan Program

    Service Requirements for the VA Loan Program

    Being eligible for a VA loan doesn't mean you'll get one. But you can't get one without being eligible. Make sense? Here's the the longer version, just in case it doesn't: Active military and veterans have to meet certain requirements set forth by the VA in order to participate in the loan program. But the VA itself isn't in the mortgage business; it basically insures the loans made by private financial ins…

  • 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…

  • Veterans United Live with the Director of the VA Home Loan Program

    Click play below to watch the recorded Hangout with Mike Frueh of the VA and the National Association of REALTORS®! Or see the full hour-long video chat with Mike Frueh by clicking this link. I'm excited to announce that the Veterans United Live crew is heading to Washington, D.C., soon to bring you a real-time video chat with Mike Frueh, the national director of the VA home loan program. Sarah Hill, Jes…

  • 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 Most Effective Habits of Homebuyers With Sky-High Credit Scores

    5 Most Effective Habits of Homebuyers With Sky-High Credit Scores

    Consumers don't build great credit scores overnight. It's something that takes time, smart financial decisions and maybe even a little luck. Perhaps surprisingly, it turns out a lot of Americans have managed to make the effort. As a whole, we've actually got pretty decent credit scores. Nearly a third of all consumers have a FICO score from 749-799, according to the credit scoring firm, which uses a scale from…

  • Cooking Up Your Credit Score: Here's What's Not in the Recipe

    Cooking Up Your Credit Score: Here’s What’s Not in the Recipe

    When we're talking about VA home loans and credit scores, it's usually a conversation focused on what kind of scores lenders are looking for and what veterans can do to get theirs in great shape. Or maybe we're looking more into the factors that make up your credit score, from amounts owed and payment history to the types of credit you use. But here's something that often gets glossed over, if it's even covere…

  • 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…