•  

Subscribe to this blog

Subscribe to full feed RSS
What is RSS?!

Subscribe Via Email

We respect your privacy.
Archive for the ‘VA Credit Requirements’ Category

5 Risky Mortgage Types To Avoid

By admin On March 16, 2011 No Comments

There are plenty of ways to end up with a bad mortgage. The risks of these five should make every homebuyer think twice before signing.

Click here to continue reading


No Down Payment VA Mortgage: The Only Way To Buy A House

By admin On September 14, 2010 No Comments

With the economic problems of today, it makes a lot of sense to buy a house with a VA mortgage.  And with no down payment, you can’t beat that kind of deal.  Although getting a loan through the VA isn’t hard, you do have to follow the rules.

The Veterans Administration (VA) is designed to help US military personnel in the daily lives.  They offer VA loans at low rates for veterans and active military members enabling them to buy homes close to where they are based.  They offer a no down payment loan for the reasonable value of the property unless the lender requires one.

VA loans are guaranteed by the VA to help veterans protect their credit, avoid foreclosure, and make certain they have every opportunity to stay in their homes.  They can intervene to help home retention with options such as forbearances, loan modifications

Click here to continue reading


Join The Crowd and Get a VA Streamline Loan while to goings good

By admin On July 22, 2010 No Comments

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

Tightening VA Mortgages All Across The Board

By admin On July 9, 2010 5 Comments

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.

Click here to continue reading


Using Simply Ways To Meet VA Guidelines

By admin On July 2, 2010 No Comments

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

Click here to continue reading


The Secret Key to VA Eligibility

By admin On June 30, 2010 No Comments

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

Click here to continue reading


Paperwork Is The Secret Key To Military Loans

By admin On June 23, 2010 No Comments

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

Click here to continue reading


Paperwork Is The Secret Key To Military Loans

By admin On June 18, 2010 No Comments

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

Click here to continue reading


Getting Your Ducks In A Row For VA Requirements Just May Get You That Loan

By admin On June 14, 2010 1 Comment

It’s not hard to get a loan from the Veterans Administration if you adhere to the VA requirements. Since it’s a government office they like their I’s to be dotted in their T’s to be crossed. So it pays to get all your paperwork together before you even go to the office.

To get all your paperwork, that is, if you don’t have it, you can go to your local Veterans Administration regional office. They’ll have all the information you need except for your private credit information. The first thing you need is to be an eligible veterans or surviving family member of an eligible veteran.

You also need to have a good credit rating, especially in today’s housing market. A good credit score is the most important VA requirement.  Although, they have been known to make exceptions, especially in today’s economy.

If you’re applying for

Click here to continue reading


VA Credit Guidelines

By admin On June 3, 2010 No Comments

When applying for a VA home loan, one of the most important parts of the process is your credit score.   While it’s partially true that the VA does not use your credit score to determine eligibility,  most lenders that underwrite VA loans do use credit scores.   Your credit report can affect your VA loan application in other ways.  The VA underwriter reviews your credit report they will be looking at your credit history and patterns over the last 12 months, so it is crucial for you to begin preparing your credit early. Do you have a missed or late payment earlier in the year?

Do you have outstanding delinquent debt on your credit report that are still unresolved,

Click here to continue reading


FireStats icon Powered by FireStats