VA Home Loan Requirements Veterans, active-duty members and military spouses are eligible for VA loans if they meet one or more of the following requirements: The service member has been on active duty for more than 90 days. The service member has at least six years of service for the Rese...
Just like a new house that has property issues, an older home can be considered unfit for someone to buy or live in. The age isn’t always the issue, it’s the quality of the house that can be the problem. Negotiating VA Loans on Older Homes Although home inspections aren’t require...
How can I get equity out of my house without refinancing? Borrowers who wish to access home equity without refinancing their mortgage can get a second mortgage, such as a home equity loan or HELOC. The bottom line: Home equity & VA home loans ...
VA loans work similarly to any other mortgage option. Let's take a closer look at the basic steps involved when using a VA loan to purchase a home. Step 1: Prequalifying for a VA Loan To start the VA loan process, contact a VA-approved lender either online or via phone. If you...
Explore VA loans and understand eligibility requirements, different loan types, and the benefits they offer for veterans and service members financing a home.
Do VA loans have prepayment penalties? No again. So you don’t have to worry about being penalized for paying off your loan early or refinancing it away from the VA. In summary, if you feel you meet the eligibility requirements for a VA loan, be sure to include this loan in your mort...
the mortgage lender will evaluate your finances and order a VA appraisal to make sure the home meets all the requirements. If your application and appraisal are approved, the final steps are to close on the loan and move into the house....
VA loans are backed by the Department of Veterans Affairs. The government, however, doesn’t issue funds — it only guarantees the loans. This insurance provides extra security for lenders, which allows them to offer veterans more flexibility with VA loan requirements. ...
After you work with your agent to make an offer, the mortgage lender will evaluate your finances and order a VA appraisal to make sure the home meets all the requirements. If your application and appraisal are approved, the final steps ...
Keep reading and purchase a house on the best terms! Eligibility for a VA Loan To get approval for VA loans, borrowers need to pay attention to several eligibility requirements from the Department of Veterans Affairs (VA) and the lender and have a valid certificate of Eligibility (COE). ...