by VLC Staff | Apr 25, 2022 | Education, Financial, First-Time Homebuyers, Home Buying, Home Loan, Mortgage, Mortgage Loan, Mortgage Rate Lock, Mortgage Refinance
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...
by VLC Staff | Apr 18, 2022 | Education, Financial, First-Time Homebuyers, Home Buying, Home Loan, Housing Market
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...
by VLC Staff | Apr 14, 2022 | Education, Financial, Home Buying, Mortgage, Mortgage Loan, Underwater Mortgage
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...
by VLC Staff | Mar 31, 2022 | Cash-Out Refinance, Education, Financial, VA Loan
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...
by VLC Staff | Mar 28, 2022 | Education, Home Buying, The VA Home Loan, VA Loan, VA Loan Benefit
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...
by VLC Staff | Mar 24, 2022 | Education, IRRRL, Refinance, The VA Home Loan, VA Loan
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...
