VA Loan Eligibility Requirements Our military servicemembers and veterans deserve to get the VA loans they need so they can buy or build their own homes, repair or upgrade their current homes, or refinance their mortgages. Check over the requirements below to learn who is eligible for a VA loan....
If you’re a veteran looking for a mortgage, you can save a lot of money by using your VA home loan benefits. To help you understand the advantages of a VA mortgage as well as how to qualify, we’re answering questions some of our social media followers have recently submitted....
Here at Low VA Rates we seek to educate our borrowers about the VA loan process, we get a lot of questions about closing costs, particularly when it comes to rolling closing costs into the loan balance. Many of our customers ask, “can closing costs be rolled Into a VA...
Purchasing a home can sometimes be a long process involving a lot of paperwork and going over fine details, but when you hear the words “clear to close,” you know you’re in the home stretch. But what is a clear to close? A clear to close, sometimes referred to as...
So what is the VA home loan guarantee? In an effort to repay veterans for their years of service, the Department of Veterans Affairs has established the VA loan program. VA loans—both purchase loans and refinance loans—normally come with lower interest rates than conventional loans. Additionally, a portion of all...
VA loans come with lots of benefits, like low interest rates and no down payments. But do VA Loans have PMI? The short answer is no: VA loans do not come with private mortgage insurance. However VA benefits (like not having to make a down payment) aren’t necessarily free. They’re...
Any home you purchase or sell is going to need an appraisal to determine how much it is worth. But what happens if your loan takes longer to process than you expect? When several months go by and the market changes, it’s important to ask the question – how long...
One of the biggest misunderstandings with VA loans is that homeowners think VA loan entitlement can only be used once. This misunderstanding comes from the requirement that the home being financed with a VA loan must be a primary residence. Even though this is a true requirement, people don’t realize...
Excluding the unforeseeable bumps in your financial road, you can predict how much you will spend each month on debt, housing, food, utilities, and even occasional wants. If the amount you spend on debt payments each month gets too high, you may find yourself in a position where you are...
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...
What is a mortgage assumption? And are VA loans assumable? An assumable mortgage simply means that it can be taken over by someone else. The person acquires that debt as though they had the loan all along, and the original borrower is released from all mortgage liability for that loan....