Tips and advice to help Veterans and military families get the most from homebuying
A VA loan is a mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs. Here we look at how VA loans work and what most borrowers don’t know about the program.
Your Certificate of Eligibility (COE) verifies you meet the military service requirements for a VA loan. However, not everyone knows there are multiple ways to obtain your COE – some easier than others.
Buying a condominium with you VA home loan benefit is a great option. However, there are additional requirements that differ from purchasing a single-family residence or a multiunit complex.
Credit score requirements vary by lender. However, most lenders have similar criteria. Let's look at the minimum credit score for a VA loan and what lenders typically expect.
VA loans allow Veterans to have a co-borrower on the loan. Here we break down co-borrower requirements and provide common scenarios around co-borrowing and joint VA loans.
While children of veterans are not eligible for a VA loan, surviving spouses may be eligible if they fall into one of the VA’s three basic areas of consideration.
Just like Veterans and military members’ families are eligible for a VA home loan, the U.S. Public Health Service (PHS) and the National Oceanic and Atmospheric Administration (NOAA) are also qualified, meaning they can secure $0 down payment mortgage.
Here we look at how shopping for a mortgage impacts your credit and how lenders, including Veterans United, typically use a different scoring metric compared to credit monitoring tools.
VA loans offer one of the most affordable ways for Veterans and their surviving spouses to become homeowners. Along with low-interest rates and no down payment requirements, you can use them to buy many different kinds of homes, from standard single-family homes and condos to manufactured and modular homes.
Home inspections are an instrumental part of the homebuying process, saving you a lot of time and money in the long run.
Assuming another's VA loan is an intriguing benefit with VA loans. Here we take a look at what an assumption is, the process and who can assume a VA loan.
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