VA Loans Insider Page 5

  • How to Refinance a Conventional Mortgage into a VA Loan

    How to Refinance a Conventional Mortgage into a VA Loan

    It comes as a surprise to some, but one of the myriad benefits of VA loans is that qualified veterans with non-VA home mortgages can refinance into a VA loan and reap the program's benefits. The VA Cash-Out refinance is the only way to make it happen. Conventional to Cash-Out The Cash-Out refinance is one of the VA's two refinance options. The other, the VA Streamline, is an interest rate reduction loan that…

  • How a Bankruptcy or Foreclosure Affects VA Loan Applications

    How a Bankruptcy or Foreclosure Affects VA Loan Applications

    Bankruptcy and foreclosure are tough financial decisions that can significantly affect a consumer’s credit score and overall fiscal health. But veterans and active duty military members, it’s important to know that a bankruptcy or foreclosure doesn’t mean you have to forget purchasing a home with your VA entitlement. If you’re worried about your credit, Veterans United’s Lighthouse program can help you g…

  • Here's the Easiest Way to Have a Seller Pay Your Closing Costs

    Here’s the Easiest Way to Have a Seller Pay Your Closing Costs

    When the time comes to make an offer on your dream home, asking the seller to pay your closing costs can almost seem like you're tempting fate. Not only are you hoping to get a great deal on the purchase price, but you're also expecting the person to cover some or all of the up-front expenses that come with getting a mortgage. The fear is that you'll spook the seller and wind up losing out on a property you love. …

  • What a $250,000 Mortgage Can Cost You

    What a $250,000 Mortgage Can Cost You

    There’s no automatic “best” when it comes to home loans. When you’re shopping for a mortgage, you’ll find that there are pros and cons to each mortgage type, as well as financial trade-offs that depend on your specific situation. Credit, income and assets certainly come into play when assessing mortgages, but the best product for you can depend on a number of variables. A family looking to purchase a vac…

  • Understanding Clear to Close for VA Buyers

    Understanding Clear to Close for VA Buyers

    You’ve worked with your loan officer and the day you’ve been working toward has arrived. He says the magical words, “Your loan is clear to close.” But now, you wonder, what’s next? From the moment your loan receives approval by an underwriter a huge weight is lifted from your shoulders, but you aren’t quite finished. This guide will outline each step of the process from the moment you receive the “cl…

  • Surviving Spouses, Children and VA Loans

    Surviving Spouses, Children and VA Loans

    When it comes to VA home loan eligibility, most rules and requirements revolve around those who serve, and rightly so. The VA loan eligibility requirements can take up a good chunk of a page, and there are exceptions and unique circumstances along the way. The only way borrowers and VA lenders can be sure about eligibility is by obtaining the veteran's Certificate of Eligibility. As we've talked about before, …

  • When's the Best Time to Lock the Interest Rate on Your VA Loan?

    When’s the Best Time to Lock the Interest Rate on Your VA Loan?

    Cliche and salesy as it might often sound, mortgage interest rates really can change constantly. So many uncertain, uncontrollable things — chiefly socioeconomic and political factors — help shape the markets that determine rates. Tools like the Veterans United VA home loan calculator can help you work out finances. Invariably, though, there's one question that dominates this entire discussion, no matt…

  • Get a VA-Savvy Real Estate Agent in Your Corner

    Get a VA-Savvy Real Estate Agent in Your Corner

    All real estate agents aren’t created equal. It might not matter too much if you’re purchasing with a conventional, run-of-the-mill loan. But the VA loan is a unique tool that demands specialized knowledge. The VA requires a home to be in good repair. Condos and homes that are part of an association must meet department approval. Private wells, septic systems, termite inspections and shared maintenance …

  • Spread the Word: Millions of Veterans Unaware of their VA Home Loan Benefits

    Spread the Word: Millions of Veterans Unaware of their VA Home Loan Benefits

    The VA loan program has helped more than 21 million service members achieve the dream of homeownership since 1944. Today, these flexible loans remain the safest and most powerful lending option on the market for military borrowers and their families.  Qualified veterans can purchase a home without having to spend money on a down payment, private mortgage insurance and in some cases even closing costs. In f…

  • Buying During a Deployment: Power of Attorney and VA Loans

    Buying During a Deployment: Power of Attorney and VA Loans

    When it comes to achieving the dream of homeownership, active duty military members don’t have to miss out because they’re proudly serving our nation abroad. Service members who are deployed to other parts of the world can purchase a home without actually being in the country, let alone doing a walk-through. The key is Power of Attorney. Using POA Most military personnel and family members are at l…