VA loan expert Chris Birk brings you the latest news and tips about your VA loan benefit
It is possible to receive a refund on the VA funding fee. Borrowers may be eligible for a refund if awarded VA compensation for a service-connected disability - bearing the effective date of the VA compensation is retroactive before the VA loan closing.
Qualifying for a VA loan after bankruptcy is certainly possible, often in a shorter period than you would with a conventional loan.
Making biweekly mortgage payments can be an easy way for VA homebuyers to pay off the loan faster, reduce interest charges, and build equity.
Each year, most VA loans are made to veterans. However, active duty service members and those still serving in the National Guard and Reserves can absolutely look to use their VA home loan benefits.
Building your dream home is a possibility with a VA home loan. But it isn’t always an easy road. Here we take a deep dive into VA construction loans and how you can build a home with a VA loan.
Veterans are turning to their home loan benefit in never-before-seen numbers, driven by rock-bottom interest rates and a surge in refinance interest.
Having homeowners insurance on your property isn’t just a good bet. VA lenders will require you to have sufficient homeowners insurance in place before you can close on a loan.
Using your VA home loan benefit for an investment property is an attractive option for many buyers. However, there are a few key considerations to understand at the outset when it comes to multiunit properties.
Closing costs are always part of the mortgage equation. But one of the big benefits of VA loans is that they limit what veterans and military members can pay in closing costs.
Sometimes lenders will need to do a closer inspection of your finances to verify you can handle the responsibility of a mortgage. This is called Manual Underwriting, and it does differ from the standard underwriting process.
During this unprecedented homebuying season, thousands of veterans are still closing on VA home loans every single week. But two parts of the process -- the VA appraisal and home inspections -- might look a bit different for some buyers, depending on how the coronavirus is impacting their community.
Verification of Employment (VOE) is essential for VA lenders to see that you have a reliable source of income and can make your mortgage payments. Guidelines will vary by lender and borrowers should be aware that some employment scenarios can disrupt the VA loan process.
VA loan limits act more as a guide more than a restriction on the amount of money you can borrow. Keep reading to get a better understanding on how VA loan limits work.