VA loans are a bit more forgiving overall compared with other zero/low down payment programs, and refinancing a VA loan is a great option. For those who qualify for a VA loan and want to come to the closing table with close to zero cash, the VA loan can’t be beat. No down payment, restricted […]
Financing a primary residence means having the most financing options available in today’s marketplace. For those wanting to buy and finance investment real estate there are fewer albeit very competitive choices. But with a primary residence, there are plenty and are divided into two basic categories- conventional and government-backed mortgage loans. A conventional loan is […]
When you and I first begin speaking about using your VA eligibility to buy and finance a home, you can also request a Loan Estimate which will itemize potential closing costs you’ll encounter at the closing table. As you might be aware, borrowers using their VA eligibility status to finance the property are restricted from […]
If you’re eligible for a VA loan and want to come to the closing table with as little money as possible, a VA loan is going to be hard to beat and for several reasons. The most popular is probably not requiring a down payment. That is at least up to the maximum VA loan […]
The VA home loan was originally introduced as part of the Servicemen’s Readjustment Act of 1944. Congress wanted to help soldiers returning from WWII to more easily assimilate back into civilian life and provide funds to start a business, go to college or to buy and finance a home. As it relates to the home […]
VA recently updated their guidelines with regard to VA spousal status. The process has been much more streamlined as of late in the past a loan package had to be submitted to a VA regional office for approval of spousal status. The VA requirement would be met as long as it was legal in the […]
When are VA Termite Inspections Required? A termite inspection is waived on a VA IRRRL (streamline) refinance. It is required on a purchase and a cashout refinance. If the property is a low-rise or high-rise condo its only required if the appraiser notices a potential issue. If there is active infestation by pests (Section I) […]
A VA IRRL Program is the Veterans Administration Interest Rate Reduction Loan program. Many VA homeowners who purchased their home within the past year could benefit from a lower interest rate. This is also known as a Streamline refinance program in which it requires limited documentation in terms of income and assets. It’s quite common […]
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