VA Loan Basics VA Loans Insider

  • A Simple Explanation of Second-Tier Entitlement on VA Mortgages

    A Simple Explanation of Second-Tier Entitlement on VA Mortgages

    There are a lot of myths and misconceptions out there about the VA loan program. Two of the most common are rooted in the concept of VA entitlement, which is basically the amount of money the VA pledges to guarantee in the event of borrower default. So let's get this out of the way at the outset: The VA allows veterans to have two VA loans at the same time in some situations. It's actually possible to have more t…

  • 8 Unbeatable Benefits of VA Home Loans

    8 Unbeatable Benefits of VA Home Loans

    The VA home loan program is more important today than ever before and is one of the most powerful loan options on the market for active military and veterans. It's increasingly difficult for many military borrowers to build the credit and assets necessary to move forward with conventional home financing. The VA loan program's advantages over other loan types are a big reason why VA loan volume has continually gro…

  • Water Quality, Well Tests and Your VA Home Loan

    Water Quality, Well Tests and Your VA Home Loan

    Water quality probably isn't high on your home shopping checklist. But making sure the property you want to purchase is safe, sound and sanitary is one of the key missions of the VA home loan program. That's why the type of water connection and treatment system at your potential dream home can become a big deal. These are part of the VA's Minimum Property Requirements, a set of standards the agency wants prop…

  • Are You Eligible for a VA Funding Fee Refund?

    Are You Eligible for a VA Funding Fee Refund?

    If you're looking to land a VA-backed mortgage, you're going to run into the VA Funding Fee. Ears perk up anytime the word "fee" is thrown around, which is understandable when it comes to homebuying. But this one has an important reason for being. The VA Funding Fee has an escape clause, if you will, for disabled veterans and surviving spouses. Veterans and military buyers who receive compensation for a service-c…

  • 10 Key Facts About VA Home Loans and VA Borrowers

    10 Key Facts About VA Home Loans and VA Borrowers

    I've been putting together information on VA home loans for some folks in Washington. Sometimes just spelling things out in black-and-white really makes a difference, so one of the things I tried to do was come up with some key facts and figures about this more than 70-year-old lending program. Knowing  how VA loans work is the first step toward getting the home of your dreams, and awareness is incredibly importa…

  • Comparing VA Loans to Conventional, FHA and USDA Finance Options

    Comparing VA Loans to Conventional, FHA and USDA Finance Options

    For the vast majority of military borrowers, VA loans are the most powerful and cost-effective mortgage program on the market. These government-backed loans come with significant financial benefits that help veterans purchase with no money down and no out-of-pocket spending up front — and plenty more benefits for America's heroes. But there are certainly times when a VA loan isn't the best answer. For example…

  • What You Can (and Cannot) Do With Your VA Loan

    What You Can (and Cannot) Do With Your VA Loan

    America owes much to her veterans, who put their lives on the line for their country. It’s a debt that cannot possibly be repaid. But it can be appreciated in a tangible way, which is why we, as a nation, created the VA mortgage program. This is an amazing program that has allowed more than 22 million veterans and active military families to purchase a home since 1944. VA mortgages come with no …

  • Occupancy Requirements for VA Loans

    Occupancy Requirements for VA Loans

    VA borrowers are expected to live in the properties they purchase. Sounds like a novel concept, right? But the issue of occupancy is important, not to mention often confusing, especially for first-time home buyers. These flexible, government-backed homes can’t be used to purchase investment properties or vacation homes, but the VA loan advantages are staggering. VA loans are for primary residences,…

  • VA Funding Fee: Who Pays What and Why

    VA Funding Fee: Who Pays What and Why

    Home ownership is a priority for many U.S. veterans. VA loans were created to help America’s veterans achieve this goal. Today, VA loans are one of just two no-down payment loan programs available. Credit and income (parts of the VA loan requirements) are generally more lenient than conventional loans, and the Veterans Administrations caps what veterans pay in costs and fees. VA home loans are an incredib…

  • What VA Borrowers Need to Know About Foreclosure After Bankruptcy

    What VA Borrowers Need to Know About Foreclosure After Bankruptcy

    One of the most consistently confusing situations for prospective homebuyers and lenders alike involves the thorny issues surrounding bankruptcy, foreclosure and the status of your mortgage. Distressed homeowners may file for bankruptcy protection. Some want to keep their houses, others seek to have their mortgage debt discharged in the bankruptcy. Sometimes months or even years later the house is foreclosed upon.…