If you use a VA loan to buy a house, the home must be appraised to determine its market value and overall condition. The typical cost of a VA appraisal can differ depending on your location and the size of the home. Generally, a property appraisal associated with a VA loan can cost anywhere from… Continue reading How Much Does a VA Loan Home Appraisal Cost, and Who Pays for It?
Category: Real Estate
7 Potentially Costly VA Loan Mistakes, and How to Avoid Them
Sometimes, you must identify the wrong way to pursue the right path. This is true for mortgage financing as well. The best way to avoid mistakes during the mortgage and home-buying process is to recognize them beforehand. The VA loan program presents an exceptionally beneficial chance for several veterans and active-duty service members to fulfill… Continue reading 7 Potentially Costly VA Loan Mistakes, and How to Avoid Them
How to Avoid Mortgage Insurance By Using a VA Loan
Home buyers who use a VA loan to buy a house enjoy many VA home loan benefits, including the ability to finance the total purchase price. That’s why hundreds of thousands of military members and veterans use VA loans every year. But there’s another significant benefit that many eligible borrowers don’t even know about. The… Continue reading How to Avoid Mortgage Insurance By Using a VA Loan
Types of Properties You Can and Cannot Buy With a VA Loan
The VA loan program offers a number of benefits to veterans, active-duty service members, and their families. It provides 100% financing for a home purchase, competitive interest rates, and flexible qualification criteria. While VA loans offer a lot of flexibility, there are some restrictions on the types of properties eligible for financing. In this guide,… Continue reading Types of Properties You Can and Cannot Buy With a VA Loan
EEM: Using a VA Loan to Make Energy Efficient Improvements
When using a VA loan to buy a home, you can keep that down payment money in your pocket by financing 100% of the purchase price. That’s what attracts so many military members and veterans to this program in the first place. But that’s not the only wallet-friendly benefit of the VA home loan program. … Continue reading EEM: Using a VA Loan to Make Energy Efficient Improvements
Requesting a Reconsideration of Value for a VA Loan Appraisal
In a previous article, we explored some of the things a home buyer with a VA loan can do if the appraisal comes in below the purchase price—one of those options involved what’s known as the Reconsideration of Value, or ROV. This guide explains what a Reconsideration of Value is, how it can affect your… Continue reading Requesting a Reconsideration of Value for a VA Loan Appraisal
How a VA Loan Home Appraisal Differs from Conventional Financing
VA loans differ from conventional mortgage loans in several ways. For example, in the context of VA loan vs traditional loan, VA loans allow eligible borrowers to skip the down payment, while conventional financing almost always requires a down payment. VA loans also differ regarding the home appraisal process and requirements. The VA home appraisal… Continue reading How a VA Loan Home Appraisal Differs from Conventional Financing
How to Restore Your VA Loan Entitlement After Selling a Home
In a previous article, we discussed the fact that eligible borrowers can use the VA home loan program more than once. This is one of the program’s significant benefits. Before using another VA loan to purchase a home, you must restore your entitlement to the program. But it doesn’t happen automatically. You have to take… Continue reading How to Restore Your VA Loan Entitlement After Selling a Home
The VA Interest Rate Reduction Refinance Loan (IRRRL) Program Explained
In this article: An overview of the VA Interest Rate Reduction Refinance Loan (IRRRL) program and the benefits it can provide for homeowners. We’ve written extensively about the VA home loan program, including its many benefits. One of those benefits is refinancing. With a VA-backed Interest Rate Reduction Refinance Loan (IRRRL), homeowners can reduce their… Continue reading The VA Interest Rate Reduction Refinance Loan (IRRRL) Program Explained
Residual Income For VA Loans: What It Is, And How Much You Need
Ever been told you need to meet “residual income” requirements for your VA loan? If you’re scratching your head wondering what the heck that means, you’re not alone. As a fellow veteran who’s helped hundreds of military families navigate the VA loan process, I can tell you this is one of those terms that sounds… Continue reading Residual Income For VA Loans: What It Is, And How Much You Need