After learning that VA loans offer competitive interest rates and favorable loan terms, and that they don’t require down payments or mortgage insurance, you’ve decided that this form of financing is the perfect fit for your homebuying plans. Unfortunately, you’re not having much luck finding a house that you actually want to buy. That raises an interesting question: Can VA loans be used to build a house? [Read more…] about Can VA Loans Be Used to Build a House?
Are VA Loans Only for Veterans?
VA loans are a product of the U.S. Department of Veterans Affairs’ home loan program, which puts the word “veteran” front and center any time that these loans are discussed. It’s also generally acknowledged that VA loans offer fantastic terms for borrowers, but they are only available to a select group. For many would-be borrowers who are trying to decide what form of financing will help them reach their housing goals, this naturally leads to a simple question: Are VA loans only for veterans? [Read more…] about Are VA Loans Only for Veterans?
VA Refinance Guidelines
When you want to keep your home but replace your home loan, refinancing is an option worth considering. If you’re hoping to replace your current loan with a VA loan from the U.S. Department of Veterans Affairs’ home loan program, then you’ll want to explore the VA refinance guidelines. After all, the VA offers a couple of different options for refinancing. Reviewing the rules can help you decide which one is the best fit for your needs. [Read more…] about VA Refinance Guidelines
VA Appraisal Requirements
Would-be homebuyers figure out pretty quickly that there are strict requirements for borrowers using the home loan program of the U.S. Department of Veterans Affairs (VA). A closer look reveals that the properties also have to meet certain standards, so anyone planning to use a VA loan to purchase their next home might want to take a few minutes to read over the VA appraisal requirements before they start home shopping. [Read more…] about VA Appraisal Requirements
What Is My VA Loan Entitlement Amount?
What is my VA loan entitlement amount? If you are contemplating buying a home with a VA loan, that’s certainly a relevant question. However, recent changes mean that you might need to ask a few more questions to find out what the answer really means for your real estate prospects. [Read more…] about What Is My VA Loan Entitlement Amount?
The Minimum Credit Score for a VA Loan
Sometimes yes/no questions aren’t so simple. Consider this: If you asked most Americans if insects belong on restaurant menus, you’d get a resounding no. However, other cultures would be just as quick to answer that question with a yes. They’d find nothing strange about nibbling on grasshoppers, crickets, ants, and even beetles. What could a debate about eating insects have in common with VA loans? When you ask whether there’s a minimum credit score for a VA loan, you’ll get a similarly mixed answer. [Read more…] about The Minimum Credit Score for a VA Loan
Are VA Loans Better Than Conventional Loans?
Are VA loans better than conventional loans? It’s certainly easy to find fans of the home loan program offered by the Department of Veterans Affairs (VA). However, it’s even easier to find a homeowner who financed their purchase with a conventional loan. Which loan is better? [Read more…] about Are VA Loans Better Than Conventional Loans?
Understanding Your VA Loan Entitlement
The loan program of the U.S. Department of Veterans Affairs (VA) is designed to help those who have served their country purchase a home, but figuring out the finer points of the program and determining how to get the optimal use of your benefits can be tricky. Understanding your VA loan entitlement helps you figure out how much you can borrow, which makes it easier to settle on a suitable budget for a successful home purchase. [Read more…] about Understanding Your VA Loan Entitlement
How a VA Home Renovation Works in 2020
On June 15, 2020, the Department of Veterans Affairs (VA) released a simple, single-page document: Circular 26-18-7 Change 1. What makes it important, especially if you’re interested in VA home renovation loans? The document adds a year to the expected lifespan of Circular 26-18-7, the document that details how a VA home renovation works. [Read more…] about How a VA Home Renovation Works in 2020
Is There a Minimum Credit Score for a VA Loan?
Is there a minimum credit score for a VA loan? The answer to that query depends on who you ask. One fact that everyone agrees on is that your credit score does matter when you’re seeking a home loan. That’s why it’s a good idea to make sure that your credit score is as polished as possible before you approach a lender about a VA loan. [Read more…] about Is There a Minimum Credit Score for a VA Loan?