August 19th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs
Qualifying for a VA loan is easier than you think. A qualified VA borrower with ample income and credit can purchase a primary residence with no money down using the VA Home Loan Guaranty Program.
July 20th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs
Where interest rates are concerned, the advantage goes to VA loans over most other types of loans. The reason is that VA borrowers with lower credit scores generally don’t experience interest rate hikes like conventional borrowers do. What’s more, conventional loans often require twenty percent down in today’s market. Bigger down payments and higher interest rates are typically the way conventional lenders offset risk.
July 13th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs, Veteran Benefits
Many Reservists and National Guard members can get VA loans similar to the home loan benefits received by regular military members. Most of the guidelines for the VA Home Loan Guaranty Program that apply to regular military members also apply to Reservists and National Guard members. However there are a few distinct differences.
June 18th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs, Veteran Benefits
Authorization for someone to act in another person’s behalf in legal or business matters is called Power of Attorney (POA). In a VA loan transaction, a Power of Attorney (POA) can be used to protect a VA-eligible borrower who is unable to attend a real estate closing.
May 20th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs
VA borrowers often hear about the “underwriter” when applying for a home loan. Who is this VA underwriter person, is it a real person, and what is the VA underwriting process?
May 11th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs
Recently, legislation was passed to improve the VA Home Loan Guaranty program. A summary of some of the legislative and other changes regarding the program can help keep it all straight.
May 6th, 2010 |
by IsaacFDavis |
published in
VA Loan Programs
Many VA borrowers will notice that shortly after getting a VA loan, the name of the mortgage company on their bill will change. A common practice in the mortgage industry is for one company to originate and fund the loan and then another company will service the loan. Companies that sell mortgages use recovered capital made during the sale to fund new mortgages.
April 15th, 2010 |
by freedom |
published in
VA Loan Programs
We recently read an article that reports that only a very small portion of Veterans are using their VA loan benefits. According to the research done by iFreedom Direct, less than 10% of veterans are taking advantage of the benefits they have earned. Even more surprising is that according to the VA, veterans are five [...]
March 22nd, 2010 |
by StaceyChil |
published in
VA Loan Programs
This past summer, an Air Force Staff Sergeant hoped to buy a home for his family using a home loan from the U.S. Department of Veteran Affairs. He wanted to have his wife and two children settled into their new home before he was sent overseas to the Middle East in August.
He and his wife [...]
March 8th, 2010 |
by IsaacFDavis |
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 [...]