A second mortgage and home equity loan both use your loan as collateral. Many people confuse the two loans, though. A second mortgage and home equity loan aren’t the same thing. They have similar concepts – they are both a mortgage and both use your home as collateral, but the similarities end there. Get Matched […]
When do Lenders Report Your Mortgage Payment Late?
It happens to the best of us. You have your monthly budget set and then something ruins it. Financial emergencies, job losses, and human mistake happen all of the time. Don’t beat yourself up for it. Instead, do what you can to get your finances together and pay your mortgage when you can. Looking for […]
When Does a VA Pre-Approval Expire?
Before you shop for a home, you should get pre-approved. VA lenders offer VA pre-approvals all of the time. It helps you and the lender know where you stand. It also helps you get your foot in the door when looking at homes. Many sellers and realtors won’t let you see a home unless you […]
The Best Way for Veterans to Consolidate Debt
Veterans that used their VA home loan benefit may be eligible for the VA Military Debt Consolidation Loan. This loan can help veterans that experienced a financial crisis or just find themselves in over their heads in debt. Get Matched with a Lender, Click Here. Only veterans that use their VA home loan benefit qualify […]
How to Use a VA Loan for Home Improvements
Most veterans know they can use VA home loan benefits to buy a house, but did you know VA mortgage loans can be used to improve a home too? It’s not a common use, but the benefit is there for those veterans that qualify. Get Matched with a Lender, Click Here. The VA allows veterans […]
VA Cash-Out Refinance: When Is It A Good Option?
If you have equity in your home (you owe less than the home’s value), you may be able to borrow that equity. The VA allows veterans to borrow up to 100% of the home’s value even with a cash-out refinance. Before you jump in head first, though, you should determine if it’s a good option […]
The Alternatives to a VA IRRRL Refinance
If you have a VA loan now, you have the option to refinance with the VA IRRRL program. You don’t need to verify your income, assets, credit score, or home value for this loan, but it’s not the right choice for everyone. As a veteran, you do have other choices when you want to refinance. […]
Can You Get a Home Equity Loan With Bad Credit?
If you have bad credit, you may think that a home equity loan is out of reach. Unlike first mortgages, though, there’s a bit more flexibility in home equity programs. Most lenders have their own programs that they don’t have to follow investors’ guidelines on, making it easier for you to find a loan that […]
What’s the Cost to Refinance a VA Loan?
Refinancing costs money, but how much? How do you know if you should refinance or wait? Learn the standard costs for a VA loan refinance and how to find the lowest priced lender for your refinancing needs. Looking for Current Mortgage Interest Rates? Click Here. The Funding Fee Most refinance fees vary by lender, but […]
Understanding VA Interest Rates and How They are Determined
It might surprise you to learn that the VA doesn’t set VA loan interest rates. The VA plays a very removed role in your loan process. They guarantee the loan for lenders, but they don’t play a role in underwriting, funding, or even the interest rates. Compare Offers from Several Mortgage Lenders. So who sets […]