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 […]
The Top Five Mortgage Mistakes First-Time Homebuyers Make
First-time homebuyers are in a unique situation. First, you’ve never had a mortgage before, you so may not know what to look for or expect. Second, you don’t have a home with equity to sell to help you with the down payment. Compare Offers from Several Mortgage Lenders. It’s easy to see how first-time homebuyers […]
FICO Scores and Mortgage Lenders – What do They Use?
If you are like most people, you probably think there is one FICO credit score and it’s the same for all lenders. This isn’t the case, though. You actually have three different FICO scores. You have a Trans Union, Equifax, and Experian credit score. Compare Offers from Several Mortgage Lenders. So how do lenders look […]
Do you Need Clear CAIVRS for VA Loan?
Did you know that lenders check more than your credit when they qualify you for a VA loan? They also check CAIVRS or the Credit Alert Interactive Voice Response System. Only government lenders must use this system. Compare Offers from Several Mortgage Lenders. Learn what it means to have clear CAIVRS and how it can […]
Understanding the VA Disability Rates
If you served in the military and suffered a disability during or because of your service, you may be eligible for disability pay from the VA. Each veteran will receive a different amount based on their disability rating. Your disability can be physical or mental and qualify you for disability benefits. Looking for Current Mortgage […]
Home Loans for Disabled Veterans With Bad Credit
If you are a disabled veteran that has bad credit, you may think your chances of securing a home loan are minimal. We have good news for you though; you have a very plausible option in the VA home loan. Disabled veterans have the same rights as non-disabled veterans, which means you could be a […]
Does Getting the Closing Disclosure Mean you are Clear to Close?
You’ll go through many steps when you apply for a mortgage, but perhaps the most exciting step is when you receive the Closing Disclosure. Receiving this document means that you are that much closer to being able to close the loan. Looking for Current Mortgage Interest Rates? Click Here. What is the Closing Disclosure? The […]