To be eligible, you have to: Qualify for a VA-backed home loan Certificate of Eligibility Meet VA and lender standards for credit, income and other requirements Live in the home you’re refinancing If you find yourself in need of money to pay for expenses, this particular loan will help....
In summary, if you feel you meet the eligibility requirements for a VA loan, be sure to include this loan in your mortgage search. You may find that another type of home loan is more beneficial, but you should compare all options to be absolutely certain. VA Loan Highlights No down payme...
Access to larger loan amounts than are available through Fannie Mae/Freddy Mac 100 percent financing available Eligibility can be reused/renewed Available even after a foreclosure or bankruptcy NO monthly mortgage insurance requirements Home Loan Types All Loan Types Conventional Loans FHA Loans VA Lo...
You can get pre-approved by contacting a VA-authorized mortgage lender, assuming you meet the service requirements of the VA loan program. The lender will assess your personal finances and credit score, determining whether you could qualify for a mortgage loan. How long does a VA loan pre-app...
Your new VA home loan is only a few clicks away No down payment, flexible credit requirements, access to low government interest rates – VA mortgage loans are not only convenient, but they are also financially wise. While I tried to cover the most common concerns of borrowers looking for...
Getting a VA loan is generally easier than a conventional loan due to more lenient credit requirements and no down payment or private mortgage insurance requirements. VA loans also typically have shorter waiting periods after a negative event such as a foreclosure or bankruptcy. However, borrowers ...
Whether you are a veteran or currently on active duty, there arespecific requirements for that eligibilitybased on when you served and for how long.Eligibility will not be granted if you were dishonorably discharged. Apart from VA eligibility, you can qualify for a VA loan the same way you...
Existing loans can be refinanced whether they are in a current or delinquent status, but refinancing loans are subject to the same income and credit requirements as regular home loans. As long as you have title to the property you can refinance an assumed loan. Check with your lender as ...
If you have a bankruptcy or a foreclosure in your past, the VA is pretty good about giving you another chance. The waiting period for a foreclosure is only two years and the waiting period for bankruptcy is between 12 months and two years. VA Loan Benefits After You Buy a House Ok, ...
However, if your credit has been affected by an active Chapter 13 bankruptcy, your new refinance may have to be approved by the bankruptcy trustee or judge. No. 3: No appraisal or current employment required In most cases, no appraisal on the property and home is required. The no-appraisal...