If borrowers have a high DTI ratio, they have less money to pay for their expenses, and lenders may have concerns about their ability to take on monthly mortgage payments. The VA loan program's low foreclosure rate success is partly due to these residual income requirements. What's the Best...
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...
To prove eligibility for a VA mortgage, you will need to get a Certificate of Eligibility (COE) from the VA, which your bank may be able to complete for you. It’s also possible to call your regional loan center, as noted above. Aside from basic military eligibility, keep in mind that...
For this reason, the Department of Veterans Affairs (VA) created a loan program to help Service Members and their Veterans qualify for a mortgage loan and protect them from temporary financial hardships. VA loans generally offer more favorable terms (such as lower interest rates) than ...
The VA loan PMI benefit is one of the money-saving advantages of working with the VA loan system on your mortgage. PMI is private mortgage insurance, and new home buyers often need to pay this on a monthly basis. With the VA, you don’t. It might not look like much at first compare...
VA-guaranteed home loans are made by banks and mortgage lenders, with the VA ensuring payment of a portion of the loan if the borrower fails to repay the balance. Because the VA backs the loan, it is easier for mortgage lenders to approve. When using the VA Loan Guaranty, you can buy...
We offer a variety of loans. Mortgage Financial Services, LLC can help you find the loan that is right for you!!! **Mortgage Financial Services, LLC is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government.Mortgage...
Marriage can sometimes lead to an untimely and unfortunate divorce. When a military veteran has a VA-guaranteed home loan and is going through a divorce, rules apply outlining the veteran's options for the mortgage and property. Loan Assumptions ...
The VA loan asks for no down payment, requires no mortgage insurance, and has lenient rules about qualifying, among many other advantages. Here’s everything you need to know about qualifying for and using a VA loan. Verify your VA loan eligibility. Start here ...
Why The Joe Metzler Team for Your VA Loan Phone apps, robots, unlicensed application clerks, and companies with rockets don't care about you or your loan. It would be cool to just push a button and magically get a mortgage loan, but it really doesn't work that way. The reality is ho...