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Pros and Cons of Buying a Home in a Recession with a VA Loan
For veterans and active-duty service members, buying a home during a recession can feel like a high-stakes decision. Economic downturns bring both opportunities and challenges, especially when using a VA loan—a benefit tailored to make homeownership more ...
VA Loans: Why Timing Could Save Your Home Dreams
When it comes to VA loans, timing can be the difference between landing your dream home or missing out on major savings. A recent TikTok from VeteransLoans.com drives this home with a simple truth: act fast, or someone else might claim your opportunity. At...
VA Loan Refinancing: Act Fast to Secure Your Savings
Timing is everything when it comes to VA loan refinancing, and a recent TikTok from VeteransLoans.com underscores why acting fast can protect your financial future. Whether you’re a veteran or active-duty service member looking to lower your mortgage payments or tap...
First-Time Homebuyer Tips: Avoid This Common Mortgage Mistake
Purchasing your first home is an exciting milestone, but for a first-time homebuyer, the process can feel overwhelming.
VA Loan Limits and VA Entitlement for 2023
If you're considering purchasing a home using a VA loan this year, you are probably wondering what the VA loan limits for 2023 are. Here is what you need to know about VA loan limits in 2023 and how this will affect your home purchase. VA Loan Limits The VA loan...
VA Loan Benefit For Eligible Surviving Spouses
VA Loan Eligibility The VA loan was designed to make homeownership possible for qualifying Veterans, Servicemembers, and eligible surviving spouses. In this article, we want to clarify what the VA means by “eligible surviving spouses.” It’s important to note that the...
How Your Child Can Affect Your VA Loan
Did you know your child can affect your VA loan? The VA loan has a few requirements specified by the U.S. Department of Veterans Affairs regarding childcare, child support, and residual income that are unique to this type of loan. If you are considering applying for a...
Understanding the Closing Disclosure
At some point during the mortgage loan application process, shortly before closing on your home, you will receive a form called a Closing Disclosure from your mortgage lender. This form will usually arrive any time after the first round of underwriting and no later...
Top Ten Cities to Buy a Home 2022
The housing market in the United States is still overwhelmingly a seller's market, but there are cities in the United States where the housing market is starting to turn to buyers' advantage. Realtor.com recently came out with a ranking system to determine the top ten...
Should I Buy a Home This Winter?
Purchasing a home, especially for first-time homebuyers, is a highly personal decision. It’s not so much a question of whether it’s the right time to buy, but whether it’s the right time for you to buy. So instead of asking the question should I buy a home this...
VA Loan Closing Costs & Fees
Closing costs include a variety of fees paid at or prior to closing on a home loan. Homebuyers can find closing costs confusing because the term “closing costs” is broad and is used to describe many different costs and fees associated with purchasing a home and...
8 Ways to Pay Off Your Mortgage Faster
The most common type of mortgage loan for a permanent family residence is a 30-year fixed-rate mortgage. Thirty years can feel like you will be paying off your mortgage forever. But did you know there are easy ways to cut your mortgage repayment period short while...
4 Reasons to Choose a Smaller Mortgage Lender
Large vs. Smaller Mortgage Lenders There are many compelling reasons to choose a large established mortgage lender. Nationally renowned lenders come backed with big brand equity and big trust. It’s easy to know what you are getting into with a big name that has an...
Disabled Veteran Property Tax Exemption in Every State
For the last decade, states have worked to diminish the cost of living for disabled veterans and their surviving spouses in an effort to demonstrate appreciation and honor to those who have served our country on the front line of duty and those who have paid the...
VA Loan Purchase Options
Permanent Family Residence Condo in a VA-Qualified Community Multi-Unit Property of Up to 4 Units Upgrades to Improve Energy Efficiency A Lot or Manufactured Home Refinance VA loans are known for making home purchases more affordable for veterans. But you might be...
VA Loan Rental Property Requirements
Qualifying military veterans and servicemembers are entitled to use the VA loan benefit to purchase a home, as long as they meet the fundamental VA and mortgage lender requirements. If you are a qualifying military veteran and servicemember, you might be considering...
VA vs FHA Loans
Government-backed loans are designed to make housing more affordable and attainable to more people. But not all government-backed loans are created equal. While VA and FHA home loans are both government-backed loans, there are some pretty important differences between...
Are You Ready to Be a Homeowner?
For first-time homebuyers, the prospect of purchasing a home can be daunting, especially in a housing market where home prices and mortgage rates are constantly changing and you’re not sure if now is the right time to enter the market or not. Here are some signs that indicate you are probably ready to be a homeowner.
VA Loan to Buy Land and Property
There are many ways to use your VA loan benefit and one of those is to purchase land to build a home on. The VA loan benefit cannot be used to purchase land specifically for the purpose of owning land. But if you are planning to build a home on the plot of land you...
Is a VA Loan Assumable?
What Is An Assumable Mortgage? What does it mean to assume a mortgage? An assumable mortgage is when someone takes over the existing home loan instead of applying for a new mortgage. With an assumable mortgage, the remaining balance, mortgage rate, repayment period,...
VA Loan Condo Purchase Guidelines
One advantage of the VA loan is the various types of purchases you can make with a VA loan. A VA loan can be used to purchase a single-family home, manufactured home, condominium, a multi-unit property, and even a new build. However, not all types of purchases are the...
VA Loan Pest Inspection Requirements
If you are in the process of getting approved for a VA loan, your purchase property may or may not be required to undergo an inspection for wood-destroying insects. This requirement can add a significant amount of time to the loan approval process, so it is helpful to...
Can a VA Home Loan Close in 30 Days?
On average, a traditional VA home loan purchase will take 40 to 50 days to close. It is possible to close on a VA home loan in as short a timeframe as 30 days, and VeteransLoans.com is known for having some of the shortest turnaround times in the industry. However,...
What You Need to Know About FHA Loans
What is a Federal Housing Administration (FHA) loan? A Federal Housing Administration (FHA) loan is a home mortgage guaranteed by the government and funded by a private bank or mortgage lender approved by the FHA. FHA loans are designed for borrowers with lower credit...
Will I Lose My Home if The Housing Market Crashes?
Experts are not predicting a housing market crash. Nevertheless, no one can predict the future and the housing market is susceptible to events, circumstances, and influences outside of anyone’s control. The fear of a housing market crash has raised a lot of questions...
23 Money-Saving Moving Tips
You’re in the process of buying a new home. You’ve been pre-approved for a home loan, your offer has been accepted, and now it’s time to get serious about planning to move. With inflation on the rise and the extremely high cost of fuel, you need to save money on...
Strategies for Homebuyers in a Seller’s Market
The housing market is still a seller’s market. Inventory is low and the competition is high. How can home buyers successfully navigate the housing market right now? 7 Tips for Homebuyers in a Seller's Market Here are several tips homebuyers can apply to strengthen...
9 Things to Do When You Move into Your New Home
You have worked hard to purchase a home and it feels great to finally get to settle into your new house! But wait, there’s more. While you unpack and maybe redecorate your new home, here is a helpful list of essential to-dos to complete before you’ve finished...
What Are the Most Common Mortgage Types?
Not all mortgage loans are created equal. Before getting pre-approved for a home loan, it is important to understand the differences between the various mortgage loan products and determine which type of loan is best for you and your financial goals and needs....
Can I Buy a Home Without My Spouse?
If you are preparing to purchase a home, you may be wondering how much your spouse has to be involved in the process, if at all. Many married couples purchase a home as co-borrowers, meaning both their names are on the mortgage and the title. However, you may not want...
How to Shop for Different Mortgage Lenders
You have been planning and saving for this moment for months, maybe years. It’s time to start shopping different mortgage lenders and finally get pre-approved for a home loan. But wait. How do you actually shop different mortgage lenders? What questions should you...
VA Loan Work History Requirements
As you prepare to purchase a home and apply for a mortgage loan, it’s important to understand how your employment status and employment history can affect your mortgage loan eligibility. In this article, we break down the necessary employment requirements for home loan approval.
DD Form 214 and Why You Need it For a VA Loan
If you are a qualifying veteran, service member, or surviving spouse applying for a VA loan, you will need your DD214 in order to retrieve a Certificate of Eligibility (COE). A COE verifies that you do, in fact, qualify for a VA loan. Or, if you are using your remaining VA loan entitlement, your COE will inform you and your lender how much entitlement you have already used.
7 Common Questions About Mortgage Rate Locks
What is a Mortgage Rate Lock? A mortgage rate lock prevents the interest rate on your home loan from increasing or decreasing within a specified timeframe before closing, typically 30-60 days or more depending on the terms of the rate lock and the type of mortgage...
Are We in Another “Housing Bubble”?
The word on the street is that the United States has entered another housing bubble and we are set to repeat the events of 2008 when the housing market crashed. While there are some similarities between the housing market today and the housing market in 2006 prior to...
5 Ways to Use Your Tax Return to Buy a Home
As tax season comes to a close and you anticipate receiving your tax return, you might already be making plans for how you want to use that extra cash! It’s no surprise that the end of tax season typically kicks off the busiest home-purchasing season of the year...
What is an Underwater Mortgage?
An underwater mortgage or upside-down mortgage is when the value of your property is less than the remaining mortgage you still owe on the property. Underwater mortgages most commonly occur during an economic downturn when the value of property rapidly declines. They...
How Much Money to Save For a Home Purchase
Earnest Money Inspection Appraisal Homeowners Insurance Down Payment Closing Costs At VeteransLoans.com, we take pride in offering VA loans with no down payment necessary. It is one of the great advantages of the VA loan benefit. However, when prospective homebuyers,...
How to Build Equity in Your Home
What is Home Equity? Home equity is the portion of your home that you own. It is the principal value of your home that has been paid off. When you purchase a home and secure a mortgage, there are several ways you can establish and build equity in your home. Why Build...
Cash-Out Refinance, Home Equity Loan and HELOC
One of the advantages of homeownership is the equity in your home. The equity you build in your home functions as a forced savings account that you can eventually tap into. Maybe you’re ready to take advantage of your home’s equity. There are a number of ways you can...
VA Cash-Out Refinance Definition and Guidelines
What is a VA Cash-Out Refinance Loan? A VA cash-out refinance loan is very similar to a conventional cash-out refinance loan. A VA cash-out refinance is a VA-backed loan that replaces your original home loan with a larger VA-backed loan based on the equity your home...
VA Loan Benefit Limits and Use
How Many Times Can I Use My VA Loan Benefit? The VA loan benefit is a lifetime guarantee. This means that for qualifying Veterans, servicemembers, and surviving spouses, there is no limit on how many times you can use the VA loan benefit. However, there are other...
What is a VA Interest Rate Reduction Refinance Loan (IRRRL)?
A VA-backed Interest Rate Reduction Refinance Loan (IRRRL) is a refinance loan for qualifying Veterans and Service Members who already have a VA-backed home loan and are interested in reducing their monthly mortgage payments or making their payments more stable....
How Much is the VA Loan Funding Fee?
What is the VA Funding Fee? The VA funding fee is a one-time payment that can be paid upfront by the borrower upon purchasing their home with a VA-backed loan. This fee can also be rolled into the mortgage. This funding fee applies to both VA home purchases and VA...
How to Get a VA Certificate of Eligibility
A VA Certificate of Eligibility from the Department of Veterans Affairs is necessary to be approved for a VA home loan. A COE essentially demonstrates to your lender that you meet all of the VA’s qualifications based on your service history and duty status. A...
VA Loan Requirements for 2022
Are you considering purchasing a home in 2022? Wondering if you qualify for a VA home loan? Here are the latest VA loan guidelines, how to qualify for a VA loan, and an overview of all other VA loan requirements for 2022. Who Qualifies for a VA Loan? You may qualify...
What is a VA Loan?
A VA loan is a mortgage issued by private lenders and guaranteed by the U.S. Department of Veterans Affairs. This type of loan has no down payment requirement, competitively low-interest rates, limited closing costs, and no need for Private Mortgage Insurance (PMI)....
How Debt-to-Income Ratio Affects Your Mortgage
What is DTI? DTI stands for “debt-to-income” and refers to the ratio of your monthly debt payments over your monthly gross income. Essentially, DTI compares your overall debt to your overall income. This calculation is used by mortgage lenders to determine if you...
How to Prepare to Buy a Home in 2022
Are you planning to buy a home in 2022? This year’s housing market is shaping up to be another competitive seller’s market. However, with increasing mortgage rates, the 2022 housing market will hopefully have a larger inventory compared to 2021. This is good news for...
How Does The Closing Process Work?
When you contact a loan specialist and are pre-approved for a mortgage, the home purchase process begins. From that point on, your loan specialist works with you to get everything prepared for the closing process. A lot of documentation and information is necessary to...
Can I Buy a Home With No Down Payment?
The greatest barrier to purchasing a home for first-time homebuyers is the down payment. Many prospective first-time homebuyers qualify for a home loan but do not have the funds to set aside for a down payment. With inflation increasing in the last couple of years and...
10 Most Misunderstood Mortgage Terms
There are many mortgage terms that can be confusing to anyone outside of the mortgage finance industry. If you are considering or in the process of purchasing a mortgage, here are the ten most misunderstood mortgage terms you need to know. Private Mortgage Insurance...
7 Factors That Determine Your Mortgage Rate
The mortgage interest rate on your home loan is what you are charged to borrow the money used to finance your loan. This is how the lender profits over the life of your loan. It is also how they financially mitigate the risk of lending you money. There are several key...
What to Expect in the 2022 Housing Market
Maybe you are a potential first-time homeowner, wondering if 2022 is the year to enter the housing market. Or maybe you are a homeowner wondering if 2022 is the year to sell your home and upgrade. Wherever you are in the homeowning process, you should understand the...
The VA Loan Process
The VA loan process can seem complicated, especially for someone who has never procured a VA loan before, so we explained the process in these 8 steps: Contact a VA-Approved Lender VeteransLoans.com is a VA-approved lender. You can contact a loan specialist at (888)...
Should I Buy a Home in 2022?
With the rise of inflation and mortgage rates, prospective homebuyers are wondering if they should buy a home in 2022. While the landscape of the 2022 housing market will be different compared to the previous two years, 2022 could still very well be one of the best...
How to Qualify For a VA Loan
A VA loan is a mortgage provided by the U.S. Department of Veterans Affairs program. It is available to active and veteran military service personnel and their surviving spouses. While VA loans are issued by private lenders, they are backed by the federal government. Do you qualify for a VA loan?
Are You Eligible for a VA Loan?
Service Members You may be eligible for a VA loan if you have served in the following branches of the United States military: Army Marines Navy Air Force Coast Guard If you have served in one of the above United States military branches for 90+ days during wartime...
5 Questions to Ask Before Refinancing Your Mortgage
Refinancing your mortgage is a beneficial option for a homeowner, but there are a few things you should know before making the decision to refinance. Here are some questions to ask yourself if you’re considering refinancing your mortgage.
10 Tips for First-Time Homebuyers
Are you a potential first-time homebuyer considering purchasing a home this year? If so, here are a few ways you can kickstart the home purchasing process and prepare to buy your first home! Prepare Your Finances for Homeownership The cost of homeownership involves...
Tips for First Time Homebuyers
Purchasing a home for the first time can be exciting. But the process of buying can sometimes be hard to navigate. There are quite a few steps from where you are now to the moment you’re moving in, but fear not, we’ve prepared our top tips to get you home as soon as...
Why You Should Get a Mortgage Pre-Approval
There are so many tips you can offer for first-time homebuyers, be it budget, credit, information etc. Our number one tip? Get a mortgage pre-approved before you start looking for homes to show you are a serious buyer.
Tips & Tricks When Moving With a Pet
Whether you’ve just found your dream home or are temporarily moving to a new house, it’s important to take precautions when moving with pets to ensure they are safe and happy at the new home. Moving is stressful and can sometimes be a challenge with animals involved,...
VA Loan Eligibility
A VA loan is an earned benefit that allows eligible veterans, service members, and surviving spouses to qualify for a low-cost mortgage when looking to purchase or refinance, even with imperfect credit. Although lenders set their own standards for certain aspects of...
5 Ways to Improve Your Credit Score in 2022
It is never too late or too early to improve your credit score. Whether you have a poor credit score, a good credit score, or little to no credit history, you can only benefit from monitoring, maintaining, and taking steps to improve your credit score. And with the...
How Debt-to-Income (DTI) Impacts Your Mortgage
What is Debt-to-Income Ratio? Have you ever heard someone say you should only spend 36% or less of your income on bills? The concept they are referring to is that of debt-to-income, or DTI. Debt-to-income divides the total of all monthly debt payments by your gross...
Credit Score 101: Hard Pulls vs. Soft Pulls
CREDIT 101: HARD PULLS vs. SOFT PULLS Financial | Credit 101 | 5 minSummary: Today we're going to talk about credit pulls. Lenders will pull your credit score to determine your eligibility. But what's the difference between a hard pull and a soft pull? What effect do...
What is the VA Appraisal?
What is the VA Appraisal? Home Ownership | House hunting | 8 minSummary: In this article, we are going to go over the VA appraisal. We'll talk about what things the appraisal process looks like, what it looks for, and what options you have if it doesn't go as well as...
Comparison: the VA Appraisal & a Home Inspection
THE VA APPRAISAL AND HOME INSPECTION Home Ownership | House hunting | 8 minSummary: Home inspections and the VA appraisal are two important parts of the home buying process. But don't confuse the two - they aren't the same. In fact, while they may seem similar, there...
17 Popular Home Styles on the Market Today
17 POPULAR HOME STYLES ON THE MARKET TODAY Home Ownership | In Design | 10 minSummary: We're going to highlight 17 popular home styles that you'll find across the U.S. We'll show you some pictures and talk about which features make them unique, too. Knowing the...
Mental Health Resources for Veterans
MENTAL HEALTH RESOURCES FOR VETERANS Military & Vets | ResourcesMental health is an important aspect in the lives of our Veterans and we want to do our part. We've put together a list of mental health resources for Veterans and caretakers in case they need help....
Resources for Veterans and Caretakers
RESOURCES FOR VETERANS AND CARETAKERS Military & Vets | ResourcesWe've compiled a thorough list of resources available for Veterans, service members, and caregivers. There is a wide array of resources available, and we'll keep updating this list as we discover...
What is a VA Home Loan?
WHAT IS A VA HOME LOAN? The VA Home Loan | Home Loan 101 | 7 minSummary: In this article we are going to discuss some of the defining benefits of the VA Home Loan. We'll also explore some of the eligibility rules and limitations. Lastly, we'll go over the different...
Am I Eligible for a VA Home Loan?
AM I ELIGIBLE FOR THE VA HOME LOAN? The VA Home Loan | Home Loan 101 | 5 minSummary: In this article, we are going to go over the basic eligibility requirements for a VA Home Loan. The branch or department you served in, the length of your service, and the status of...