The VA loan PMI benefit is one of the money-saving advantages of working with the VA loan system on your mortgage. PMI is private mortgage insurance, and new home buyers often need to pay this on a monthly basis. With the VA, you don’t. It might not look like much at first compared to the “no down payment” part of the VA’s benefit, but it can add up to thousands of dollars in savings over the life of your loan.
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“VA Loan PMI | Do VA Loans Require Mortgage Insurance?”
The simple answer to “are there VA loan down payment requirements?” is no. But as is often the case in life, the simple answer isn’t always the right one…or the best one. Sometimes you might want to pay the down payment, and sometimes you must make a down payment, when going through the VA loan guarantee program. There are also a couple of reasons where you could make a down payment on your VA mortgage that don’t make any sense. Let’s sort these options out.
Read More “VA Loan Down Payment Requirements | Do You Need to Pay One?”
Getting physician mortgage loans may seem counterintuitive, unless you are a new doctor, surviving residency, saddled with student loans and strapped for time. In that case, you may need help every step of the way. If you are further along in your career, you may be looking to move to a bigger house or a new neighborhood or even refinance your current mortgage. There’s help out there for you, too.
Read More “Physician Mortgage Loans | How to Save on Mortgage Loans for Doctors”
The VA cash-out refinance program has some good news for you. You can get cash by refinancing your home through the VA loan system. The better news is that you can do that even if your current mortgage is not a VA loan – as long as you meet the VA eligibility standards of being a veteran, an armed forces service member, or the surviving spouse of an active duty or former service member.
Read More “VA Cash Out Refinance Guidelines | Everything You Need to Know”
If you are investigating the VA loan pre approval process, you’re ahead of the game. Pre approval has become a vital part of finding and purchasing a home, especially in a competitive real estate market. It shows your buyers that you are ready, you’ve done your homework (no pun intended), and any offer you make on a property is legit.
Read More “VA Loan Pre Approval Process | A Strategy That Works”
In a world where most mortgages are not assumable, you might wonder are VA loans assumable? The short answer is yes, they are. That puts you, as the seller with a VA loan, in a unique position. Giving the buyer the ability to assume your mortgage and buy your house in a climate of rising interest rates is a significant benefit. However, assuming a mortgage can get a little complicated, especially because you want to be able to protect your VA loan benefit.
“Are VA Loans Assumable? | A Hidden Benefit to Your VA Loan”If you are looking to learn about VA loan inspection requirements, you won’t find any. Truth be told, the VA loan system does not require home inspections before deciding whether you are eligible or not. They do, however, require appraisals, but that is a different kettle of fish. We will explain that later. What’s important to recognize is that the home inspection protects you, veterans or active-duty military members, as you hunt for a home. So don’t skip this step.
Read More “VA Loan Inspection Requirements | What You Need to Know”
If you are wondering about getting a VA loan with bad credit, you’re not alone. It is a common question asked by our veterans and active-duty service members. Bad credit can stop you in your tracks and make you think there’s no point in even looking for a house. Don’t give up. The VA loan system makes allowances for bad credit. What’s more, the loan policies of the Veterans Administration are designed to help you, the military professional, find ways to make a VA loan work for you.
Read More “Getting a VA Loan with Bad Credit | It is Not Just About Your Credit Score”
When you ask “how many VA loans can you have?”, you are actually asking two questions. The VA loan program has a lot of moving parts, and most of them are aimed at helping eligible veterans, military personnel and active-duty service members find and buy a home. If every home buying situation were the same, the VA loan system could build a one-size-fits-all program that delivers the same guarantees to every military professional. But since we are talking about real estate, mortgages, loans, contracts and all the stuff that goes along with the world of real estate, it gets a little more complicated.
Read More “How Many VA Loans Can You Have? | Second Tier Entitlement | Multiple Loan Options”
The minimum VA loan credit score doesn’t exist. That doesn’t mean they don’t matter, but the fact is that the VA loan system doesn’t have any minimum requirements around a borrower’s credit score. You may be getting mixed messages about that, because a lot of search results talk about minimum credit scores when, technically, there aren’t any. Here’s the real scoop.
Read More “VA Loan Credit Score | Are there Credit Score Requirements?”
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