VA Loan Blog

You can’t beat today’s market for home interest rates!  They’re almost the lowest in the history of home loans.  Take advantage of the downslide because once the market recovers there’s no going back.  Now’s the best time to save hundreds of dollars a month on your mortgage using a VA Streamline loan.  

VA streamline loan is an existing VA loan that is refinanced for a lower interest rate.  Up until the beginning of this year VA loans did not require an appraisal or minimum credit score.  You also were not charged closing costs.  Since the new VA loan guidelines match major lenders it’s a little harder to get VA loans.  By getting one now when interest rates are at an all time low you can save big bucks by refinancing your loan. 

To qualify for VA Streamline refinance you need a Click here to continue reading

Don’t

Save thousands of dollars a month when you get a loan or refinance your home loan through the Veteran Administration (VA).  Because the interest rates on loans are the lowest they have ever been, now’s the best time to refinance your VA loan.  For that matter, now’s the best time to get a VA loan for that new home you’ve always wanted. 

The US military has always taken care of the men and women who help protect the country.  They provide a low cost of living while in service plus they can help when military personnel go out into the civilian world.  The civilian world can be a great shock to military man and women especially when it comes to buying a house and the cost of living.  

If you were one of the few who got a VA mortgage a couple of years ago with no problems you’ll find it’s getting harder to get one these days. Even if you just want to refinance your home with a VA loan, they’re tightening the requirement.

Earlier this year VA mortgage loans started following the nation’s major lenders in limiting the conditions to get a mortgage. You’ll still get a no down payment if you have a credit score of 610 or more but if it’s lower you won’t get a loan through the Department of Veterans Affairs (VA). You’ll have to spend a couple of months building your credit before you can get a loan.

About two years ago major lenders started limiting the conditions for getting a loan.

VA loans for veterans are better than ever with the fluctuating housing market. With the low interest rates and other benefits to qualify borrowers, a VA home loan can get you into your dream home.

If you’re a member of the military then there are loans available for you. If you’re a veteran or an active member of the military, now’s the best time to apply for a home loan through the VA.   The numerous benefits will allow you to take advantage of the housing market.

Men and women who served in the military have access to financing not normally accredited to the general public. Veterans looking for houses to buy can save mass amounts of money using a VA loan to finance the purchase of a home.   There are a lot of advantages for veteran wanting to buy a house.

The main advantage isClick here to continue reading

VA guidelines are simple. Do it their way or else!  Just kidding.  Once you understand the VA guidelines for a loan of any type, everything will fall into place. But if you don’t follow their guidelines then it can almost stop the process.  Isn’t it better to know before hand?   Read on…

The Veterans Administration or VA as some call it, is a guarantor.  That means they will repay your loan if you don’t. They do this the same way banks do it with FDIC. FDIC is the guarantor for banks when you put your money in them.  If something happens to the bank then you can still get your money because FDIC will cover all losses.

The VA is the same way.  If you don’t repay the loan then the VA will pick up the tab but you lose the house or whatever you spent the money

VA eligibility requirements are not the same as getting financing through a bank or a savings and loan company. As with all government agencies you just need the proper paper work to be eligible for a loan from the VA. If you don’t have the paper work or if something is missing, it can stop the loan process in its tracks.

The Veterans Administration or VA as some call it, can help you obtain a loan from a bank or saving and loan company.  However, there are requirement that must meet the VA approval before you can get your loan.  Since the VA inception in 1944 there have been many changes to the rules and regulations to the acceptance of loans and the type of loans they will guarantee. 

At the time, you could only get a home loan through the VA and the requirements were

A military man or a woman who has served can get a VA home loan after completing their required service in the military.  That is, if they want to buy a home.  But they also have to qualify through their credit rating and of course, have a house they want to buy. 

VA home loan have some advantages but at the same time the have some disadvantages.  The main disadvantage is the approval for this type of financing.  Your credit rating must be of high value and you must serve at least 180 days in peacetime or 90 days of wartime just to qualify for the home loan. 

The VA has to approve the lending and lenders, meaning the bank or savings and loan company. There is a restriction on the number of lenders the military personnel have to work with.  It also takes up to 30

Now might be the best time to buy a house using VA foreclosure listings.  Its unfortunate people are losing their homes but you can pick them up at reasonable prices.  Not all homes listed through the VA are foreclosures.  Some are there because they can’t sell them in the normal market place, especially in today’s housing market. 

Most listing will be listed with a local realtor but to purchase them you have to go through the VA.  The VA foreclosure listings will be in cities where there is a large military base.  There’s always a percentage of homes that are foreclosed on whether they bought them with a VA loan or through a private lender.  

As servicemen are shipped to new locations, they don’t have time or energy to wait around to see if their house sells or not, nor do they want their

Military loans are some of the hardest to get.  Hardest meaning you have to have all the paperwork and information you need before they will process the application for a loan.  If you don’t have all the information then the loan will get held up in red tape.  

You get military loans through the Veterans Administration or what is called a VA loan.  You have to meet the requirements such as being an active, serving member or veteran of the military or a surviving member of the veteran or active member.  It’s one of the benefits of being in the military, no matter what branch. 

Your family members or immediate relatives are also eligible for military loans providing they can meet the necessary VA requirements. In today’s economy, everyone can use a little help and a loan from the military with its lower interest rates can help in