You found the perfect home, purchased it with a VA loan backed by the U.S. Department of Veterans Affairs (VA), and have been living there happily ever since. Now, you’ve received Permanent Change of Station orders and need to relocate. Do you have to sell your dream home? Selling is an option, but it’s not your only one. After exploring the pros and cons of being a landlord, you may decide to try renting the property out. [Read more…] about The Pros and Cons of Being a Landlord
Ice cream is all that’s required for a tasty treat; however, anyone who has sunk their spoon into the silky, decadent deliciousness of a hot fudge sundae knows that bringing something extra to the table can make a good thing even better. VA loan down payments are another great example of this. While it may not be necessary, making a VA loan down payment can offer a borrower significant benefits. [Read more…] about The Benefits of Making a VA Loan Down Payment
Homeownership has long been a part of the American dream, and as the National Association of Realtors points out, it offers significant benefits to both individuals and society. Research indicates that owning a home allows individuals to build wealth and status and improves health outcomes. It also tends to spur greater participation in civic activities, increase volunteering, improve the educational performance of children, reduce dependence on welfare, and decrease crime rates. With so many positive effects, it is no wonder that the government works to promote homeownership with government-backed loan products like FHA loans and VA loans. Having trouble deciding between the two? Exploring the difference between FHA and VA loans can help you decide. [Read more…] about The Difference Between FHA and VA Loans
Have you always dreamed of building the perfect home, designed to your own unique specifications? Is having a say in every detail that shapes your home important to you? If you are a service member or veteran, you don’t have to choose between the advantages offered by using a VA loan and securing the custom-built home that you crave. VA construction loans make it possible to use your housing benefits to finance both the construction and the purchase of a home. [Read more…] about VA Construction Loans 101
There are a few things related to VA loans and foreclosures that everyone using a loan guaranteed by the U.S. Department of Veterans Affairs (VA) should know. Whether your home is at risk of foreclosure or you’re interested in buying a foreclosed home, we have the information you need. [Read more…] about VA Loans and Foreclosures
While the U.S. Department of Veterans Affairs (VA) provides a financial guarantee that allows lenders to offer the favorable terms that make VA loans so attractive, it does not originate the loans. Private, VA-approved lenders do. That means that anyone interested in using a VA loan to finance a home purchase or refinance their existing mortgage will want to start the process by learning how to find the best lender for VA loans. [Read more…] about How to Find the Best Lender for VA Loans
The U.S. Department of Veterans Affairs (VA) doesn’t place a hard limit on the size of a VA loan. However, there is a limit on how much the organization will guarantee. If you are hoping to purchase a pricey home with a VA loan, understanding the VA jumbo loan guidelines may be key to capitalizing on your housing benefits. [Read more…] about VA Jumbo Loan Guidelines
A condo isn’t a house or an apartment, but it shares traits with both. With a condo, you own your unit, but you share ownership of the land, building, and common areas with your neighbors. Because of this, you won’t need to worry about outdoor maintenance and you may have access to special amenities, like a gym or swimming pool. Condos offer many benefits that busy people can appreciate, so it’s no wonder that many service members and veterans are interested in using the housing benefits that they’ve earned with their service to fund the purchase of a condo. But is that possible? Can you buy a condo with a VA loan? What will you need to keep in mind? [Read more…] about Can You Buy a Condo with a VA Loan?
The U.S. Department of Veterans Affairs’ home loan program got its start as part of the Servicemen’s Readjustment Act of 1944, which is often referred to as the GI Bill. In the nearly 75 years since its inception, it has adjusted and expanded to meet the changing needs of those who serve. Along the way, it’s guaranteed more than 20 million home loans, according to the Army Times. The VA funding fee is part of what makes this success possible. What is a VA funding fee? [Read more…] about What Is a VA Funding Fee?
Players embarking on an escape room adventure must use clues, hints, and problem-solving strategies to unravel a mystery in order to win their freedom before the timer runs out. While it does require some serious effort and mental energy to successfully break free, there’s no real risk involved. It’s a fun game, so it doesn’t matter if you win or lose. In the real world, escaping a contract generally comes with consequences. For example, walking away from a real estate purchase agreement often means the prospective homebuyers must forfeit any earnest money that they’ve paid out. However, thanks to the VA loan escape clause, buyers using a VA loan may be able to walk away from a contract without penalty. How does this work? [Read more…] about The VA Loan Escape Clause