VA Loans Insider - Page 2
Page 2 of 14 - VA Loans Insider Article Archives
VA loan expert Chris Birk brings you the latest news and tips about your VA loan benefit
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Using Part-Time Employment Income on a VA LoanProspective buyers can look to land a VA home loan using part-time income. But you’ll typically need a solid track record of receiving that income to make it work.
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Qualifying for a VA Loan Using Retirement IncomeVeterans and service members can look to qualify for a VA home loan using retirement income, which is great news for many homebuyers. You will need to be able to verify this income in order to qualify for the home loan.
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A Closer Look at Title Insurance for VA LoansVeteran and military homebuyers will need to have a "clear title" before purchasing a home. This means there aren't any liens, legal defects, or property disputes on the house you are trying to buy. This isn't an issue most of the time, but it's important to understand how it can halt your home buying journey.
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Understanding Your VA Mortgage Payment (PITI)
It's easy to assume your mortgage payment is just a flat cost. However, VA mortgages have their payments broken into four parts: principal, interest, taxes, and insurance (PITI).
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Foreclosure Avoidance Options for VA Homeowners
Falling behind on mortgage payments is a stressful situation. Thankfully, there are several VA foreclosure avoidance options available to you that can potentially save you from losing your home.
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Grossing Up Non-Taxable Income for VA LoansLenders consider your gross monthly income when evaluating what kind of mortgage you can afford. In other words, they’re looking at your major monthly debts in relation to your pre-tax income.
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VA Loan Eligibility for Public Health Service & NOAA OfficersJust like veterans and military members families are eligible for a VA home loan, the U.S. Public Health Service and the National Oceanic and Atmospheric Administration are also qualified, meaning they can secure $0 down payment mortgage.
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What Clear to Close (CTC) Means for VA BuyersWhen your loan officer calls to say your loan is Clear to Close (CTC), that means the underwriter has approved all documentation necessary for the title company to schedule the closing and start drafting the Closing Disclosure.
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VA Loans & Flood Insurance
Having flood insurance can save you from severe financial devastation. VA lenders typically require you to purchase a separate flood insurance policy before closing on your home loan.
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A Military Spouse's Guide to VA LoansMilitary spouses often play key roles in the homebuying process. Here we take a deep dive into what spouses can expect and how to be better prepared for your homebuying journey.
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A Detailed Look at the VA Funding Fee: What's it Cost and Who's ExemptThe VA funding fee is a government fee applied to many VA purchase and refinance loans. Here we take a deep dive into why this fee exists, how much it costs and who is exempt from paying.
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Explaining VA Lender OverlaysMany first-time homebuyers are surprised to learn there isn't one uniform set of guidelines and requirements for a VA home loan.
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How to Get a VA Energy Efficient Mortgage (EEM)Energy Efficient Mortgages are an excellent option for those looking to invest in upgrades that can save you money in the long run. EEM homes can provide increased protection against heat, cold, pollution, and moisture, and are also great at reducing your carbon footprint.
