Unfortunately, VA appraisals aren’t the same as they are if you’re purchasing a home with a conventional loan. The Department of Veterans Affairs is backing the home, so they want to make sure the condition of the home is good before they approve any type of mortgage loan. This makes ...
Not every VA-approved lender works the same way. You could get a better mortgage rate or better customer service with some lenders, for example. It’s possible one VA lender could deny your loan while another one approves it. So narrow down your list of possible lenders by reading customer...
These loans are guaranteed by the US Department of Veterans Affairs, which enables mortgage lenders to offer low-interest, no down payment / low down payment mortgage loans to qualifying veterans, military service members, and their surviving spouses. Because VA loans are backed by the government,...
Navigating the VA mortgage landscape can be difficult. VALoans.com makes it easy by comparing the top 10 VA lenders by VA loan volume, customer rating and purchase and refinance options. See the best 10 rated VA lenders here and prequalify with a VA lend
Residual income requirements vary based upon such factors as the number of people in the household, the mortgage amount and even the region of the country the property is located. The VA traditionally prefers that your debt-to-income ratio be no higher than 41%, so a borrower in an expensiv...
Check your eligibility for a zero-down mortgage now. Start here (Feb 4th, 2025) Why lenders still offer 100% loans Many new home buyers wonder why most types of loans require a down payment. After many studies, banks and lending institutions have determined that the higher the down payment...
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Learn more about Nicholas Abbate, a financial advisor in Richmond, VA with the US News Advisor Finder.
Length of the loan:Whether you opt fora 15- or 30-year mortgagewill affect your monthly payments and interest rates, which we’ll discuss in-depth below. The market:The current housing market will also determine your VA loan rate. Since private lenders issue these loans, they set the rates...
Here’s a condensed list of possible streamline refinance guidelines, rules, and features: Must be current (not delinquent) on your existing mortgage Refinance must clearly benefit the borrower (e.g. lower payment or ARM to FRM) No cash out allowed (must keep loan balance the same) ...