The following guidelines apply depending on whether you are keeping or selling your current home. Check your VA loan eligibility. Start here 1. Restoration of entitlement when you keep your current home You can pay off the VA mortgage either with cash or with a non-VA loan and keep the hom...
South Carolina VA Loan Limits (VA mortgage loans are available across the state of SC including these cities and towns: Sumter, Mount Pleasant, Columbia, Spartanburg, North Charleston, Hilton Head Island, Rock Hill, Greenville, Summerville, Charleston and more) South Dakota VA Loan Limits (VA mo...
Getting a VA loan pre-approval means you can likely get approved for a mortgage loan. If your pre-approval letter includes conditions, you’ll need to meet them before beginning your loan process. Pre-approval is not a guarantee that you can get final approval. Is prequalification the same ...
VA loans are usually considered to be “jumbo” when they exceed localconforming loan limits. If your loan is classified as a VA jumbo loan, that typically means you’ll have to make a down payment. In addition, the requirements to qualify for a VA jumbo loan can be stricter than for a...
A VA appraiser can also recommend repairs needed to meet MPR guidelines. When you are purchasing a home you’ll have an opportunity to get a home inspection that is separate from the VA appraisal. However, a VA appraisal is a little more in-depth than a conventional home loan appraisal. ...
LOAN PROCESSING Assemble all the necessary paperwork and details for the underwriter. U UNDERWRITING They closely evaluate all the documentation in the loan package to ensure it meets VA guidelines. CLOSING Documents are drawn and sent to the title company for closing. Let’s Start COMMUNICATING ...
take cash for a purchase, take cash for college. The reasons are as endless as the individual. If you currently have a VA loan and your goal is to lower your Rate/Payment, we can possibly help you with a special guidelines for an “Interest Rate Reduction Refinance” with little to no...
Whether you have a conventional loan or another government-backed loan, you can take advantage of this program as long as youmeet the VA's eligibility requirementsand your lender’s guidelines. You Can Drop Your Mortgage Insurance When you refinance a non-VA loan under this program, you can ...
The first VA program is commonly referred to as a Texas Vet Loan. This loan program is sponsored by the Texas Veterans Land Board, or Veterans Land Board (VLB) for short. The VLB is underwritten to the same guidelines as a VA Guaranteed Loan. In fact it is a VA loan, but it is av...
No, the VA does not specifically reference what age a home can be for a VA loan. However, other factors must be considered when buying an older home. The home must meet the VA’s minimum property requirements and the state and/or local building codes. The VA also considers whether the ...