Most people believe that you need $5,000, $10,000 or even $20,000 to purchase a home. This used to be the case, but simply isn’t true any more. Many programs exist to help reduce or eliminate the need to invest any of your cash at closing. This is a brief summary of the programs available for …
Category Archive: VA
What Are VA Loans?
VA mortgage loans are designed to help our nation’s veterans purchase a home or refinance their existing mortgage. Veterans with qualifying credit and income can purchase a home with no money down, no private mortgage insurance, and competitive interest rates. To qualify for a VA loan, a veteran must have served 181 days during peacetime, …
VA Mortgage Loans Change
VA (Veterans Affairs) mortgage loans will undergo some big changes thanks to bipartisan legislation that President Obama recently signed into law. The changes will further assist surviving spouses, married military couples, single-parent service members and veterans with disabilities. Let’s look at how this bill will help our nation’s veterans and their families: VA Funding Fee …
5 Steps to a VA Loan
Apply for a Certificate of Eligibility. A veteran who doesn’t have a certificate can obtain one easily by completing VA Form 26-1880, Request for a Certificate of Eligibility for VA Home Loan Benefits and submitting it to one of the Eligibility Centers with copies of your most recent discharge or separation papers covering active military …
Who is Eligible for a VA Loan?
Veterans who served on active duty and were discharged under conditions other than dishonorable, during World War II and later periods are eligible for VA loan benefits. World War II (September 16, 1940 to July 25, 1947), Korean conflict (June 27, 1950 to January 31, 1955), and Vietnam era (August 5, 1964 to May 7, …
VA Home Loan Assumptions
As a seller that has an existing VA (Veteran’s Administration) home loan on your property, you may wonder about the feasibility and possibility of having a buyer purchase the home and assume the current VA home loan. Before you rush out and sign a contract, there are several considerations that you need to take into …
VA Loan Eligibility
How do I apply for a VA guaranteed loan? You can apply for a VA loan at any mortgage company that participates in the VA home loan program. At some point, you will need to get a Certificate of Eligibility from VA to prove to the mortgage company that you are eligible for a VA …
VA Loan Questions and Answers
Can I get a VA loan if I have had a bankruptcy in the last few years? VA credit standards state that a veteran with a bankruptcy less than 2 years ago would generally not be considered a satisfactory credit risk unless: the veteran or spouse has obtained items on credit since the bankruptcy and has …
VA Loan Costs
A basic funding fee of 2.0 percent must be paid to VA by all but certain exempt veterans. A down payment of 5 percent or more will reduce the fee to 1.5 percent and a 10 percent down payment will reduce it to 1.25 percent. A funding fee of 2.75 percent must be paid by …
Veterans Day Specials
Thank you to our Veterans and Active Military! Below are some specials I received via email from SchooReach for you that are available tomorrow. Please click on the link for more details. Free Breakfast at the Broken Egg for Veterans or Active Military! Amazon.com Free album – through Nov. 11 Applies to: Everyone Download a …
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