While VA loans offer significant benefits, there are some downsides, including a mandatory VA funding fee, which can be rolled into the loan but increases the overall loan balance. Additionally, the VA loan is only available for primary residences, and not all properties qualify due to VA appra...
While I knew I wanted to purchase a home prior to my move to Hawaii I was unable to leave the mainland during the process. I was nervous and not exactly sure how it would all work. I looked into several banks and loan companies until I found Gabe Amey. As soon as I spoke with him...
TheVA home loanis a well-known benefit created to assist Veterans, active-duty service members and surviving spouses in achieving homeownership. The process of securing a VA-backed mortgage might seem overwhelming for some eligible borrowers. However, The Military Wallet is here to help! Whether y...
Not sure if you are eligible for a VA loan as a first-time home buyer? In that case, the loan professionals at Griffin Funding can offer you a few tips that can help you as a first-time buyer using a VA loan. Improve Your Credit Improving your credit is certainly possible, but it ...
While I knew I wanted to purchase a home prior to my move to Hawaii I was unable to leave the mainland during the process. I was nervous and not exactly sure how it would all work. I looked into several banks and loan companies until I found Gabe Amey. As soon as I spoke with him...
The free structure for a USDA loan is also slightly different: Instead of private mortgage insurance, borrowers pay an upfront guarantee fee an annual fee. In 2024, the upfront fee is 1% of the loan total and the annual fee is 0.35%. VA loan and USDA loans: Requirements While neither ...
Certificate of Eligibility (COE):Applicants must obtain a Certificate of Eligibility, which verifies their entitlement to the VA Loan benefit. This document can be obtained through the VA or with the assistance of a VA-approved lender. Credit and Income:While there is no minimum credit score req...
If you haven’t used your VA entitlement yet, read these first-time home buyer VA loan tips to learn more about the process.Partial EntitlementPartial entitlement is when you’ve already used your VA loan, and your full entitlement hasn’t been restored. Someone may have partial entitlement ...
Aside from the qualification requirements, the biggest difference between a VA loan and a conventional one is thedown payment amount. While most conventional loans require a minimum down payment, VA loans may not require any down payment. Here are some other differences between the two loan types...
While the majority of veterans and service members who are eligible for a VA loan are off the hook when it comes to a down payment, they still need to meet certain financial requirements to make the cut. For the most part, these measures aren’t just an added insurance for your lenders...