A VA Loan can be used for various purposes, including purchasing a new home, refinancing an existing mortgage, or making home improvements. By removing certain barriers to homeownership, such as the need for a sizable down payment, the VA Loan helps military personnel and veterans realize their ...
Debts include your $250 payment for an auto loan, $850 on your new mortgage and $300 on other debts (e.g. credit cards, lines of credit). Your total debts for the month equal $1,400. Divide the $1,400 in debts by your $4,500 gross monthly income for a back-end DTI ratio of...
There are certain types of income that do not meet VA lending guidelines. Income that cannot be used to qualify for a VA loan include gambling or lottery winnings. Unemployment compensation may not be used. Also excluded are one- time performance bonuses or any isolated payment by an employer....
require a down payment of at least 3%. Conventional loans require mortgage insurance for down payments less than 20%, while VA loans do not. Finally, VA loans charge a VA funding fee between 1.25% and 3.3%, depending on the down payment and whether the borrower has used a VA loan ...
The Affordable Care Act, often referred to as Obamacare or the ACA, requires most Americans to have health insurance coverage. Those without coverage must pay a penalty when they file their taxes. According to the U.S. Department of Veterans Affairs, VA
Computer Learning Faces Inspection; Student Loan Programs In Va. Under ScrutinyJerry Knight