March 8th, 2010 | by freedom | published in VA Loan Programs
It’s common for VA-approved lenders to use VA underwriting software to “read” income and credit numbers in a VA loan application to determine whether a borrower qualifies. In some circumstances a closer look from a manual underwriter (someone with special certification for determining VA loan qualification) is needed.
When a VA loan applicant has special […]
February 22nd, 2010 | by freedom | published in VA Loan Programs
One of the most common misconceptions regarding the VA Home Loan Guaranty Program is that it’s a one-time deal. Many people believe that once they get a VA loan, they can never get one again. On the contrary, as long as a veteran has entitlement, the benefit can be used again and again. Entitlement is […]
September 9th, 2009 | by freedom | published in VA Loan Programs
Many VA borrowers wonder whether they can get more than one loan with the VA Loan Guaranty Program. In fact, you can use VA loans as many times as you want as long as you have entitlement. Entitlement is how much the VA will guarantee for each loan under the Program. And, entitlement is available […]
August 20th, 2009 | by freedom | published in VA Loan Programs
The recession throughout 2008 has affected unemployment. In 2009, families are struggling to make ends meet. Shrinking home values and rising mortgage delinquencies are causing the U.S. housing market to be in crisis — a situation that intensified in late 2007 and climaxed in 2008. A surplus of bank-owned properties only added fuel to the […]
August 18th, 2009 | by freedom | published in VA Loan Programs
VA loans have proven to be resilient since the start of the recession in 2008. When mortgages issued under other loan programs came to a virtual halt, VA loans seemed to continue progressing at a steady pace. Factors leading up to the 2008 mortgage crisis had little effect on the VA loan guaranty program.
Just […]
March 6th, 2009 | by freedom | published in VA Loan Programs
VA and FHA loans are terrific, federal-backed mortgage programs for those who qualify. When considering mortgage options, one should look closely at the benefits of each of these programs. There are differences between military and FHA mortgages. Qualifying requirements, down payments and fees can all vary between the two programs. Deciding which loan program is […]
February 26th, 2009 | by freedom | published in VA Loan Programs
Interest rates are at historic lows for the first part of 2009, and now may be a great time for many homeowners to refinance. VA’s Streamline Refinance Program can be easier and speedier compared to conventional loans.
Falling mortgage interest rates have compelled many homeowners to research refinancing avenues in order to lower their monthly payments. […]
February 11th, 2009 | by freedom | published in VA Loan Programs
VA home loans are an entitlement to those VA-eligible borrowers who qualify. VA Loans, or veterans’ mortgages, are made by lenders like banks and mortgage companies and a portion of each loan is guaranteed by the U.S. Department of Veterans Affairs. The VA Loan Guaranty Program wasn’t always in existence. Discovering how VA Loans came […]
January 28th, 2009 | by freedom | published in VA Loan Programs
No down payment, up to 100% financing, no PMI — these are probably the most popular of all the VA loan benefits. But, another benefit to getting a veteran’s mortgage is the “no penalty for prepayment” feature is standard with every VA loan. This can save borrowers significant amounts of money.
Prepayment Penalty Mortgages or PPMs […]
January 21st, 2009 | by freedom | published in VA Loan Programs
On November 28, 2008 President George W. Bush acknowledged for the first time that the US economy is in a recession. Expert economists define a recession as a period of two or more consecutive quarters with reduced gross domestic product.
By this definition, the recession has existed since December 2007. How do VA loans fare in […]
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