To put it simply, your VA loan can only go towards a VA-approved home. This means that the home is move-in ready and can be a single-family home, a VA-approved condo, or some type of modular house. Having a real estate agent with VA experience can help you sort through these kind...
How does the VA loan program work? Benefits VA home loans have more benefits than any other type of mortgage program. Discover them all > Eligibility As an exclusive program, only those who qualify can get a VA loan. Check your eligibility > ...
The VA loan provides a handful of home financing options. Most popular is the home purchase loan, but there are also mortgage options for: VA home purchase VA Energy Efficient Mortgage (EEM) VA streamline refinance (IRRRL) VA cash-out refinance What role does the VA play in the program?
When a buyer assumes a VA loan, they effectively take over the seller’s remaining mortgage balance, which may be lower than the current market value of the home. This can be particularly beneficial in a low-interest-rate environment, as the buyer gains access to a mortgage with more favora...
To learn more about qualifying for a Griffin Funding VA home loan,schedule a discovery callwith one of our loan officers. Need Financial Assistance? See if you qualify for a loan today! See if you Qualify What VA Loans Options Does Griffin Funding Offer?
How to Buy a Home Using a VA Loan: What Every Home Buyer Should KnowStacey Chillemi
But who can get a VA loan? And how does one qualify for a mortgage with the VA? Learn more with this guide to VA loans: What Is a VA Loan and How Does it Work? VA loans vs. traditional home loans Who Can Get a VA Loan? Obtaining a certificate of eligibility VA loan ...
How Does a VA Cash-Out Refinance Work? To get a VA cash-out refinance loan, you will submit an application to your lender. Your lender will consider multiple factors—such as the value of your home, the amount remaining on your mortgage, and your current financial standing—to determine h...
When it comes to credit requirements, the VA does not set a specific minimum credit score. However, most lenders will have their own credit score requirements. While they may be willing to work with borrowers who have less-than-perfect credit, a higher credit score will increase your chances...
The funds distribution: Unlike mortgages andhome equity loans, which provide funds in a lump-sum payment, the lender pays out the money for a construction loan in stages as work on the new home progresses. These draws tend to happen when major milestones are completed — for example, when ...