Home Purchase
Tips and advice to help Veterans and military families get the most from homebuying
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Using a VA Loan to Buy a CondoBuying a condominium with you VA home loan benefit is a great option. However, there are additional requirements that differ from purchasing a single-family residence or a multiunit complex.
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The Complete Guide to VA Loan Co-Borrowers, Co-Signers and Joint VA LoansVA loans allow Veterans to have a co-borrower or co-signer on the loan. Here we break down co-borrower requirements and provide common scenarios around co-borrowing and joint VA loans.
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VA Loan Credit Score Minimums and Lender Requirements for 2023The VA doesn't have a minimum credit score requirement, but most lenders do. Here we look at typical VA loan credit requirements and lender expectations.
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How VA Loans Work: What Most Borrowers Don’t Know About VA LoansA VA loan is a mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs. Here we look at how VA loans work and what most borrowers don’t know about the program.
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VA Loan Certificate of Eligibility (COE): Why It's Important and How to Get OneYour Certificate of Eligibility (COE) verifies you meet the military service requirements for a VA loan. However, not everyone knows there are multiple ways to obtain your COE – some easier than others.
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VA Loans for a Farm: Everything You Need To KnowLearn about the opportunities and limitations with using your VA loan benefit to buy a farm residence.
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Using Part-Time Employment Income on a VA LoanProspective buyers can look to land a VA home loan using part-time income. But you’ll typically need a solid track record of receiving that income to make it work.
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What You Need to Know About Your Statement of ServicePrequalification is the first step of the VA mortgage process. A veteran home buyer's statement of service provides VA lenders with key information that can help them qualify for a VA home loan.
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Short Sales and Waiting Periods for VA Loans
VA loan short sales are often incorrectly lumped together with foreclosures or deeds-in-lieu of foreclosures. However, they aren't the same thing, and that can make a huge difference for homebuyers.
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Understanding Clear to Close and the Final Stages of VA HomebuyingWhen your loan officer calls to say your loan is Clear to Close (CTC), that means the underwriter has approved all documentation necessary for the title company to schedule the closing and start drafting the Closing Disclosure.
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Occupancy Requirements for VA LoansThe VA has occupancy requirements for veteran borrowers, but there are some exceptions to the rules we'll explore below.
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Key Contract Contingencies for VA Buyers to ConsiderContract contingencies are in place to protect prospective VA buyers from the unknown.
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What VA Buyers Need to Know About Biweekly Mortgage PaymentsMaking biweekly mortgage payments can be an easy way for VA homebuyers to pay off the loan faster, reduce interest charges, and build equity.
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