Sometimes the rate a lender can give you for a VA loan just isn’t low enough. If you think you can do better or you know you need a lower interest rate, you can pay discount points for one. This essentially means that you buy the interest rate down. Looking for Current Mortgage Interest Rates? […]
Getting a Joint VA Loan with a Co-Borrower
Buying a home with a co-borrower as a veteran can put you in a difficult situation. The VA promises to guaranty a loan in your name, not anyone else’s. The only exception they usually grant to this rule is if you buy a home with your spouse. The VA treats this as one unit and […]
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 […]
Avoid these VA Appraisal Mistakes
If there’s one thing that can put a stop to the sale of your home, it’s the VA appraisal. In fact, it’s any appraisal. If there are issues with your home that cause the value to be lower than the sales price, no lender will provide financing. Get Matched with a Lender, Click Here. Luckily, […]
The Pros and Cons of VA Streamline Refinance
The VA streamline refinance loan gives veterans the chance to refinance their VA loan with little verification required. Not only that, but the loan costs you less than the original VA loan used to purchase your home. Looking for Current Mortgage Interest Rates? Click Here. If you are thinking of refinancing your VA loan, you […]
What is the VA EEM?
If you are a veteran with eligibility for the VA home loan, you may also be able to wrap the cost of energy efficient improvements into your loan. You don’t have to meet special requirements. If you qualify for a VA loan, you also qualify for the EEM (Energy Efficient Mortgage). Looking for Current Mortgage […]
VA Home Loan Eligibility for Active-duty military personnel
Did you know that it’s a myth that you have to wait until you are not actively serving in the military to use your VA benefit? As long as you have met your time requirement, you may be able to use your benefit. Looking for Current Mortgage Interest Rates? Click Here. This means you must […]
Using BAH on a Mortgage Application
You need income to qualify for a VA loan. If you are active in the military, some of your money may come from your Basic Allowance for Housing. Luckily, you can include this money on your loan application for qualifying purposes, but it must meet certain requirements. What is BAH Income? Active military members receive […]
Qualifying for a VA Loan with a New Job
You probably hear it all of the time. You need at least a 2-year work history to get any type of loan, including the VA loan. Is it true? It is, but only to a point. Yes, a 2-year stable employment history would make your life a lot easier when applying for a VA loan. […]