Our brave troops are able to do what they do because of the love and support they receive at home. When we at Low VA Rates say we support the troops, it means we also support those they leave behind: their husbands, wives, friends, mothers, fathers, children, and siblings. The...
There are many awards one can earn in the military; the most prestigious of these is the Congressional Medal of Honor. This award is given by the president of the United States in the name of the United States Congress. Since the award’s creation in 1861, it has been awarded...
To the first-time home buyer, or even to the seasoned homeowner looking to refinance, applying for home loans can be a daunting process. But VA loans are specifically designed to make the loan process quicker, easier, and smoother for veterans (and this is just one benefit of VA loans). In...
So how long does it take to get a mortgage? From shopping for homes to closing on a mortgage, the amount of time spent on the loan process is going to depend on a number of things: first of all, it’s going to depend on how long it takes you...
VA mortgage rates are typically lower than FHA or conventional mortgage rates. This is one of the benefits of the VA home loan program. If you’re a veteran of the US military or an active-duty servicemember, you could qualify for a home loan guaranteed by the Department of Veterans Affairs...
When searching for VA approved condos, there is something to keep in mind. You’re entering into the world of HOA, a.k.a. the Homeowners Association. The benefits of such an association come with both pros and cons, but sometimes a new homeowner forgets to factor in these monthly costs. HOA fees...
VA residual income is whatever net income you have left over after paying your usual monthly payments. These payments include taxes, mortgage, car payments, credit cards, utilities, student loans, etc. Though residual income is not a make-or-break VA loan requirement, it is advised that veteran families have a certain amount...
You’ve been approved for a VA loan, you’ve picked out the perfect house, and it’s time to start moving in! But before you close on your loan, your house will need to be appraised. The VA appraisal is one of the VA loan requirements when purchasing a home with a...
Many veterans ask the question, “Can I use a VA loan to buy land?” The answer to this question is no, you cannot use a VA home loan to purchase vacant land. VA home loans can only be used to purchase an “existing dwelling,” and the VA handbook forbids borrowers...
If you’ve ever closed on a VA loan, you’re familiar with the VA funding fee. This fee is a required closing cost that covers some of the expense of originating a loan. It also ensures that veterans are neither required to make a down payment on the loan nor pay...
So what is the FICO score meaning? FICO stands for Fair Isaac Corporation or company. Usually when a person talks about a FICO score they are talking about your credit. Credit scores are formulated based on a consumer’s personal financing information, and they’re used to measure a consumer’s risk of...
The Fair Credit Reporting Act (FCRA) is federal legislation that was passed in 1970. It determines who can access or collect a consumer’s credit information and how that information ought to be used. The purpose of FCRA is to protect the rights and privacy of the consumer and make sure...