VA Loans Insider Page 14

  • Let’s Make a Deal: Seller Concessions on a VA Loan

    Let’s Make a Deal: Seller Concessions on a VA Loan

    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 offer.  The Department of Veterans Affairs define them as “anything of value added to the transaction…

  • Economist Proposes Tax Credit to Help Iraq War Vets Buy Foreclosures

    Economist Proposes Tax Credit to Help Iraq War Vets Buy Foreclosures

    More than 8 million homes are expected to enter foreclosure or a distress sale over the next five years, according to Morgan Stanley. So how do we make a dent in the glut of foreclosures nationwide? One economist came out this week with an intriguing if not incomplete solution: Let's give veterans financial incentives to purchase these wayward properties. Richard Peach, an economist with the Federal Rese…

  • VA Loan Qualifications

    VA Loan Qualifications

    We've had a few questions and opportunities for clarification at the VA Loans Insider page on Facebook recently regarding VA home loan eligibility and the nature of the VA loan guaranty. It's a good idea to step back and offer a snapshot of VA loan qualifications and reiterate a mantra we've stressed several times: Being eligible for a VA loan does not guarantee you will get one. Explaining the Guaranty Fir…

  • The VA Home Loan Process

    The VA Home Loan Process

    The VA home loan process doesn't have to be an overwhelming experience, and now is a great time to get started on your application. 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 concerns and…

  • No Down Payment, No Problem: VA Loans Still the Safest on the Market

    No Down Payment, No Problem: VA Loans Still the Safest on the Market

    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 the last 14 quarters and the lowest seriously delinquent rate for the last 11 quarters. Ser…

  • Small Business Income and VA Loans

    Small Business Income and VA Loans

    Small businesses are the backbone of the American economy. And studies and surveys have shown consistently that, when given a choice, a vast majority of consumers would rather patronize a veteran-owned business over a civilian-owned one. There are more than 3 million veteran-owned small businesses nationwide. Despite the tough economy and credit crunch, veterans in communities across the country are starting ne…

  • Housing Help Dries Up For Military Members

    Housing Help Dries Up For Military Members

    Home values have taken a nosedive for thousands of active military members, many of whom are now "underwater," meaning they owe more than the home is worth. The epidemic isn't unique to service members. But, unlike civilians, military homeowners face the prospect of receiving new orders and suddenly having to unload an underwater home in a sagging real estate market. That can prove financially ruinous for thos…

  • 3 Key Contract Contingencies to Consider

    3 Key Contract Contingencies to Consider

    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 reconsider. Contract contingencies are designed to protect prospective buyers from the unkn…

  • VA Loan Eligibility Isn't a Home Loan Guarantee

    VA Loan Eligibility Isn’t a Home Loan Guarantee

    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 just redeem for a VA loan or refinance of your choice. It just doesn’t work…

  • VA Loan Fees and Disability Status

    VA loans remain the most flexible and buyer-friendly lending option on the market for the vast majority of military borrowers. These government-backed loans come with no down payment, no private mortgage insurance and competitive rates. They also come with a mandatory fee known as the VA Funding Fee. This charge is applied to all purchase and refinance loans and goes directly to the Department of Veterans Affairs …