Are you trying to purchase a home, but do not have a large amount of assets set aside for a down payment? In the past few years, it might have been difficult to find a loan without at least 20 percent down, but recent changes in the guidelines are bringing 100% loans back to the market. If you are interested in getting a home while not putting anything down, these loans could … [Read more...] about The Types of 100% Down Loans
VA loans are available to a large majority of veterans of the military or their surviving spouses; if you fit into this category, did you use your benefit? There are many advantages to obtaining a VA loan, many of which cannot be found with any other loan. As with any mortgage, you will have to meet certain requirements, including proper verification of your employment and … [Read more...] about How to Take Advantage of your VA Home Loan Eligibility as a Veteran?
A loan that requires no down payment and has very loose credit score requirements seems like it would be the first loan to default, right? The numbers say otherwise. VA loans have the lowest foreclosure rates out of any other mortgage type in the United States. When you look at the VA loans, who they loan them to and what their requirements are, it makes sense that they have … [Read more...] about Why VA Loans Have the Lowest Foreclosure Rate
You have likely heard of bi-weekly mortgage payments, or the method of paying your mortgage in equal installments every two weeks, rather than once a month. This concept is nice, but not always accepted by mortgage companies as your documents state that you must pay the mortgage in full on the 1st of every month or whatever your date may be. Many mortgage lenders only allow you … [Read more...] about Tips for Saving on your VA Loan Interest Payments
Refinancing your VA loan is a simple process if you are simply choosing to reduce your rate. This loan, called the Interest Rate Reduction Refinance Loan comes with very few requirements and very few closing costs. A VA cash out refinance, on the other hand, does have different requirements and a more intensive approval process. Understanding the difference can help you decide … [Read more...] about VA Cash Out Refinance: How the Requirements are Different