VA Loans Insider - Page 3
Page 3 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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Counting Income and Allowances for Active Military, Guard & ReserveEach year, most VA loans are made to veterans. However, active duty service members and those still serving in the National Guard and Reserves can absolutely look to use their VA home loan benefits.
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VA Construction Loans: How to Build a Home with a VA LoanBuilding your dream home is a possibility with a VA home loan. But it isn’t always an easy road. Here we take a deep dive into VA construction loans and how you can build a home with a VA loan.
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VA Loans & Homeowners InsuranceHaving homeowners insurance on your property isn’t just a good bet. VA lenders will require you to have sufficient homeowners insurance in place before you can close on a loan.
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VA Loans and Investment PropertyUsing your VA home loan benefit for an investment property is an attractive option for many buyers. However, there are a few key considerations to understand at the outset when it comes to multiunit properties.
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Non-Allowable Fees on VA Home LoansClosing costs are always part of the mortgage equation. But one of the big benefits of VA loans is that they limit what veterans and military members can pay in closing costs.
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Explaining Manual Underwriting on VA Loans
Sometimes lenders will need to do a closer inspection of your finances to verify you can handle the responsibility of a mortgage. This is called Manual Underwriting, and it does differ from the standard underwriting process.
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How COVID-19 is Impacting VA Appraisals & Home InspectionsDuring this unprecedented homebuying season, thousands of veterans are still closing on VA home loans every single week. But two parts of the process -- the VA appraisal and home inspections -- might look a bit different for some buyers, depending on how the coronavirus is impacting their community.
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Verification of Employment (VOE) for VA LoansVerification 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.
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Loan Limit Lingo: There's Actually No Maximum Amount on a VA LoanVA Loan limits act more as a guide more than a restriction on the amount of money you can borrow. Keep reading to get a better understanding on how VA Loan limits work.
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Will Your Commute Drive Down Your VA Loan Purchasing Power?Commuting into work is a common reality for many military homebuyers. However, racking up the miles on your car can affect your purchasing power and your VA loan process.
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VA Loans for Land: Can You Use Your VA Benefits to Purchase Acreage?At the end of the day, you can use a VA loan to purchase land, but it will come with some strict stipulations. Learn about these requirements and how you can purchase land with a VA loan.
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2020 Law Means Veterans are No Longer Constrained by VA Loan Limits
Effective Jan. 1, 2020, VA loan limits are going away for veterans with their full entitlement. This historic change means there's no limit to the VA loan's $0 down payment benefit.
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How to Refinance a Conventional Mortgage into a VA LoanThe VA provides a single option for refinancing from a conventional to VA loan and it’s simpler to use than you may think.
