Are you considering building your own home? Despite what many people may think, it is possible to build your home and finance it with a VA loan. However, the difficult part is finding a lender to fund that loan. The Department of Veterans Affairs guarantees (or insures) VA loans, and...
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...
Even if you qualify for a VA home loan, that doesn’t mean that house you’ve been eyeing qualifies. It first must meet several VA minimum property requirements (MPRs). These VA loan house requirements may seem like a hassle to check off, and it could be very frustrating to have to...
Manufactured homes are essentially built in a factory and are designed to move in sections. A common question that borrowers have is can I use VA loans for manufactured homes? Yes, the VA does authorize the use of VA loans for manufactured homes, but these homes must meet a few...