VA loan expert Chris Birk brings you the latest news and tips about your VA loan benefit
The VA funding fee is a governmental fee required for many VA borrowers. However, some Veterans are exempt, and the fee varies by VA loan usage and other factors. Here we explore the ins and outs of the VA funding fee, current charts, who's exempt and a handful of unique scenarios.
The VA requires a wood-destroying pest inspection for much of the U.S. Learn which states require a termite inspection and who pays.
Millennial and Gen Z Veterans accounted for more than half of all VA purchase loans in a record year for this historic benefit program. Gen Z in particular is starting to make its presence felt in markets across the country.
VA loans had their biggest year ever in Fiscal Year 2021, thanks to interest rates near modern-day lows and a wave of younger homebuyers. Check out the biggest markets for this historic benefit program.
National Guard members and Reservists can tap into the same VA loan benefit that's helped generations of Veterans and active duty service members achieve the dream of homeownership.
With a white-hot housing market and low interest rates, Veterans turned to their home loan benefit in numbers never seen before. The average VA purchase loan came in just under $345,000, a 13% increase from last fiscal year.
Verification of Employment (VOE) is essential for VA lenders to see that you have a reliable source of income and can make your mortgage payments. Guidelines will vary by lender and borrowers should be aware that some employment scenarios can disrupt the VA loan process.
With 70% of new homeowners projected to be Hispanic between now and 2040, Census data show the homeownership rate for Hispanic and Latino Veterans is nearly 20 percentage points higher than for non-Veterans.
Whether you're ready to buy a bigger house or downsize, your VA loan benefit is here to help. It's even possible to have more than one VA loan at the same time.
Student loan debt doesn't necessarily make it more difficult to qualify for a VA loan. However, it can impact your VA loan eligibility.
As with any mortgage option, VA loans have pros and cons that you should be aware of before making a final decision. So let's take a closer look
When 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.