The VA guarantees loans. This is how VA lenders are able to give you a loan with no down payment without requiring crazy hard requirements. In fact, the VA has some of the most relaxed requirements of any loan program today. The VA guarantees the loans in an effort to encourage VA lenders to provide veterans with loans.Compare Offers from Several Mortgage Lenders.The VA … [Read more...] about How Much of the VA Loan Does the VA Guaranty?
Most loan programs today look closely at your debt ratio. They want to make sure that you aren’t over committing your finances. For example, conventional loans have debt ratios of 28% for your housing ratio and 36% for your total debt ratio. VA loans, though, don’t have such specific ratios. While they have a maximum ratio they would prefer, they don’t put a lot of emphasis on … [Read more...] about How High can Your DTI be for VA Loans?
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?
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?
The VA requires any home that a veteran buys to be in move-in condition. In other words, it’s safe, sanitary, and has enough space for your family. What if you come across a home that needs some TLC before you can move into it?Looking for Current Mortgage Interest Rates? Click Here.Luckily, you may be able to use the VA rehab loan. While you can’t do a lot of … [Read more...] about What is a VA Rehab Loan?