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 10, 2022 | Financial, Home Buying, Home Loan, The VA Home Loan, VA Loan
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...
by VLC Staff | Mar 3, 2022 | Education, Financial, Home Buying, Home Loan, Military & Vets, Mortgage Loan, The VA Home Loan
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...
by VLC Staff | Feb 28, 2022 | Debt-to-Income, Financial, Home Buying, Military & Vets, The VA Home Loan
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...
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