You’ll have to wait two years after a Chapter 7 discharge to qualify for a VA loan, or 12 months from the filing date of a Chapter 13 bankruptcy. Thewaiting period after a foreclosureis two years. Income needed for a VA loan The VA home loan program doesn’t have minimum or maximum...
If you have bad credit and are looking to qualify for a VA home loan, taking steps to improve your creditworthiness is crucial. While improving your credit may not happen overnight, implementing the following strategies can help you boost your credit score and increase your chances of loan appr...
Before approving you for a home loan, lenders may look at your income, assets, and credit score. These tips could boost your chances of getting a mortgage.At-A-Glance The better positioned you are financially, the easier it may be to qualify for a home loan with lower interest rates. A...
Buying a home can be an exciting experience and may lead to a brighter financial future. However, finding the right home and choosing the right home loan requires careful consideration. Here are ten tips to help make finding the right home loan as easy as possible. Tip #1 – Start saving ...
How to qualify for a home loan if you’re self-employed: The already laborious home loan application process and its myriad criteria is even more painstaking for the self-employed. Here's a handy guide…
First-Time Homebuyer Requirements To be approved for a mortgage, you'll need to meet several requirements, which can vary depending on the type of loan you're applying for and your particular lender.Mortgage lenderswill generally require proof of income sufficient to make the monthly mortgage pay...
1. Make Sure You Qualify for the VA Loan Program First, make sure you qualify for a VA home loan based on these criteria: You're a military veteran who meets theVA's eligibility requirements You plan to live in the house soon after the loan closes ...
Once you find a home that meets your preferences, needs and budget (and the seller accepts your offer, of course!), it’s time to apply for your loan. You’ll need to select a lender and complete an application. Depending on the lender, you may be able to apply in person, by phone...
Once you find a home that meets your preferences, needs and budget (and the seller accepts your offer, of course!), it’s time to apply for your loan. You’ll need to select a lender and complete an application. Depending on the lender, you may be able to apply in person, by phone...
FHA loans may offer homebuyers more flexible lending requirements and a lower down payment. Learn how to get an FHA loan, the pros and cons and how to qualify.