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Is your Home Eligible for a VA Loan?

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VA loans for eligible veterans are a wonderful way to get into your dream house with no down payment as well as to obtain very low interest rates. Unfortunately, not all situations are within the standards of what the VA will approve. Because real estate today has many different options, it pays to know what your VA eligibility will allow you to purchase, allowing you to take … [Read more...] about Is your Home Eligible for a VA Loan?

How Does Residual Income Affect VA Loan Eligibility?

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When you are shopping for a new loan, whether for a new home purchase or a refinance, there are certain common factors that the lender considers. The most common factors include your income, employment status, current debts and assets. For a VA loan, these factors are a little different. Yes, the lenders that offer VA loans want to know that you have the income to support the … [Read more...] about How Does Residual Income Affect VA Loan Eligibility?

Why VA Loans Have the Lowest Foreclosure Rate

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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

Getting Ready for Your VA Home Loan

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To ensure the successful approval of your VA loan by a mortgage lender, It’s important that you understand all the important steps in the approval process. The following are some of the major steps that you will need to handle during VA underwriting: Evidence of your income — this means your latest two pay stubs and documentation related to monthly income such as interest … [Read more...] about Getting Ready for Your VA Home Loan