Private mortgage insurance, or PMI, can be a good thing. If you’re an aspiring homebuyer who cannot afford a sizable down payment to secure an affordable mortgage, PMI could help make your dream of homeownership a reality. However, most homebuyers wish to know how to avoid paying PMI to keep their monthly payment as low as possible. Luckily, there are several ways for you to bypass PMI. [Read more…] about How to Avoid Paying PMI

Thanks to its favorable terms, a VA home loan can be an appealing option for any aspiring homebuyer who qualifies for the program. But how much do you know about VA home loan benefits for disabled vets? This type of financing offers a few extra perks to eligible veterans dealing with service-connected disabilities. [Read more…] about VA Home Loan Benefits for Disabled Vets

When you visit a lawyer, accountant, or any other professional and request that they put their particular expertise to work for you, you know that you will be billed for their services. What are mortgage lender fees? Although the exact terminology used can vary from lender to lender, the simplest explanation is that these charges are payment for the work done by the lender to secure your home loan. These fees are normally included in the closing costs that buyers pay when they close on a house. [Read more…] about What Are Mortgage Lender Fees?

Most aspiring homebuyers decide to purchase an existing house and make it their home. Others yearn for a chunk of land that they can call their own. Whether it’s due to a tight housing market, a very specific wish list, or a strong desire to construct a house from the ground up, building a new home is the only way that some would-be homeowners can transform their dream home into a reality. Fortunately for eligible buyers who want to use a VA loan, buying land with a VA loan is possible. [Read more…] about Buying Land with a VA Loan

With their attractive terms, competitive interest rates, and consumer protections, VA loans have long been a popular financing option for eligible homebuyers. What if you’re a homeowner interested in refinancing? VA loans are worth exploring. Learning how to refinance a VA loan can help you make smart decisions about what refinancing product best suits your needs. [Read more…] about How to Refinance a VA Loan

You’ve worked with a lender to confirm your eligibility for a VA loan, found the perfect house, and signed a purchase agreement. Your lender has ordered a VA appraisal from an independent appraiser. Now you’re waiting for the results of the VA home appraisal process. It can be a bit nerve-wracking. After all, a low appraisal has the potential to disrupt the sale. Why does the U.S. Department of Veterans Affairs (VA) insist on appraisals? What is the appraiser looking for? What happens if the appraisal doesn’t match your expectations? Exploring these questions can help you appreciate the value of a VA appraisal. [Read more…] about VA Home Appraisal Process

Mortgages are complex financial instruments, so homebuyers need to do their homework when trying to select the right home loan for their unique situation. Are you weighing the pros and cons of various VA loan programs in preparation for a home purchase? Discovering these things you may not know about VA loans might help you make an informed decision. [Read more…] about Things You May Not Know About VA Loans

If you’re planning to use a loan backed by the U.S. Department of Veterans Affairs (VA) to purchase a home, then you’ll want to spend a little time familiarizing yourself with the ins and outs of VA housing entitlements and how they impact your ability to borrow money. Why are these entitlements so important? [Read more…] about VA Housing Entitlements 101

The loan programs offered through the U.S. Department of Veterans Affairs aren’t available to just anyone. The opportunity to secure a VA loan is an entitlement earned through service, so it makes sense that the nature and duration of your military service is a factor in your VA loan eligibility. If you’re interested in purchasing a home, improving a home, or refinancing with a VA loan, then you’ll need to explore the VA’s service requirements for their loan programs and determine whether your service fits the bill. [Read more…] about VA Loan Eligibility

VA loans make it possible for service members, veterans, and other eligible people to buy, build, improve, or refinance the homes of their dreams. Thanks to the backing provided by the U.S. Department of Veterans Affairs, private lenders are able to offer these loans with favorable terms. You do need to meet certain requirements to secure one, however. The first step is to learn how to get a VA loan Certificate of Eligibility to prove that you qualify. [Read more…] about How to Get a VA Loan Certificate of Eligibility