Of all the VA loans questions people ask about the VA home loan program, one question tends to arise: How much can I borrow when utilizing a VA loan to buy a house? There is no standardized answer to this question because every borrower is different. Individual home buyers qualify for various loan amounts based… Continue reading How Much Can I Borrow When Using a VA Loan to Buy a House?
Category: Real Estate
The VA Cash-Out Refinancing Process Explained
VA loans offer home buyers many benefits, such as a house with no down payment. However, current homeowners can also benefit from this program. For instance, the VA cash out refinance loan allows eligible homeowners (military members and veterans) to convert some of their home equity into cash. These funds can be used for everything… Continue reading The VA Cash-Out Refinancing Process Explained
The Pros and Cons of 15-Year vs 30-year VA loans
Home buyers who use the VA home loan program to buy a house are often surprised to learn that there’s not just one type of VA-backed mortgage loan. You have several choices to make when applying for one of these mortgages. One of those choices has to do with the length of the repayment term. … Continue reading The Pros and Cons of 15-Year vs 30-year VA loans
10 Important Quotes from the Official VA Loan Buyer’s Guide
The Department of Veterans Affairs publishes a policy guide called the “Pamphlet 26-7” as the official VA loan handbook for mortgage lenders. Despite its “pamphlet” name, this guide weighs over 600 pages. However, they also publish a slimmer, 52-page handbook for home buyers. It’s called the “VA Home Loan Guaranty Buyer’s Guide,” you can find… Continue reading 10 Important Quotes from the Official VA Loan Buyer’s Guide
Answered: The Top 10 Questions About the VA Loan Program
Military members and veterans researching the VA loan program tend to have many specific questions about how it works. And we’ve covered dozens of those questions right here on our blog. Today, we will compile some of the VA home loan FAQ to give you a well-rounded understanding of what it involves. What Is a… Continue reading Answered: The Top 10 Questions About the VA Loan Program
VA Loan Preparation Guide: 7 Things to Do Before You Apply
Home buyers who use VA loans often consider the application and pre-approval as the first steps in the mortgage process. But in reality, the journey should start before all of that. Before you even apply for a VA loan, there are specific preliminary steps you can take to maximize your chance for home-buying success. Here… Continue reading VA Loan Preparation Guide: 7 Things to Do Before You Apply
Benefits of Making a VA Loan Down Payment (Even When It’s Optional)
One of the most attractive features of VA loans is the ability to purchase a home with zero down payment. This benefit has helped countless veterans and service members achieve homeownership without waiting years to save up. However, while a down payment VA loan isn’t required, there are compelling reasons why putting money down on… Continue reading Benefits of Making a VA Loan Down Payment (Even When It’s Optional)
Can I Buy a House While Serving on Active Duty?
Many active-duty military members find themselves in a position where they can afford to buy a home for the first time in their lives. That’s because military service offers a steady paycheck and often an additional housing allowance as well. But some active-duty military members may have questions about their ability to purchase a home… Continue reading Can I Buy a House While Serving on Active Duty?
What Information Is Needed for a VA Loan?
The VA loan process involves a two-way flow of information. As a borrower, you need to gather enough information about the program to understand how it works, what it requires, and how it might benefit you. You’ll also have to deliver much information to your lender during the application and underwriting stage. This guide explains… Continue reading What Information Is Needed for a VA Loan?
Benefits of Refinancing From a Conventional to a VA Loan
Homeowners with an existing VA loan can enjoy a “streamlined” refinance with minimal paperwork and no home appraisal. That’s one of the many benefits the VA home loan program offers to military members and veterans. But here’s something a lot of homeowners don’t realize. Even if you have a conventional mortgage loan on your current… Continue reading Benefits of Refinancing From a Conventional to a VA Loan