The VA, like many other loan programs, offers a variety of loan options including the fixed rate and adjustable rate loans. Since you have the option, you’ll have to decide which type of loan works best for you.Looking for Current Mortgage Interest Rates? Click Here.We help you discover the questions to ask yourself below. How Long Will you be in the Home? The first … [Read more...] about Does the VA Only Allow Fixed Rate Loans?
You found the home you want to buy, but find out that the appraised value is less than you bid on the home. Are you out of luck or can you still buy the home?Compare Offers from Several Mortgage Lenders.The answer is tricky, but we help you understand how the process works below. The Appraised Value is King The lender will go off the appraised value. That is how they … [Read more...] about Can a Purchase Price be Higher Than the Appraised Value?
If you’ve decided to sell your home, you have some closing costs to consider. You don’t get to walk away with the full amount of the sales price. You’ll have fees you have to pay to the county and realtor. You may also have some tax liability, although it’s rare.Compare Offers from Several Mortgage Lenders. Do you Pay Taxes? The IRS allows an exclusion on the capital … [Read more...] about Are There Taxes When you Sell a Home?
Veterans have the ability to secure 100% financing to buy a home. That’s great news for veterans just getting out of service that don’t have money to put down on a home. But what if a veteran wants to include a co-borrower, such as a fiancé? Will the VA Allow it?Looking for Current Mortgage Interest Rates? Click Here. The Issue With a Fiancé The VA looks at spouses of … [Read more...] about Can you Buy a Home With Your Fiancé Using a VA Loan?
Each year, the government-backed mortgages have different loan limits. Understanding these limits can help you determine how much you may be eligible to borrow whether to purchase or refinance your home.Looking for Current Mortgage Interest Rates? Click Here.This year, loan limits jumped just short of 7%, similar to last year’s increase. This is due to the increasing … [Read more...] about The Loan Limits for Government-Backed Mortgages in 2019