The VA Loan benefit is available for active duty military members, Veterans, military Reservists, and National Guard members who served for the minimum required time to be eligible. This varies based on when they served but is typically between 90…
When using the VA Loan, borrowers are not required to put any money down as a down payment. This means that the loan covers 100% of the cost of the home, including any closing costs or fees that you are…
Just like in any loan application process, there is a chance that your VA Loan will not get approved. There are a few factors that can impact this, including your financial situation and the home that you intend to purchase…
To use your VA Loan eligibility, you will need to provide paperwork to the Department of Veterans Affairs as well as your lender. The Department of Veterans Affairs is in charge of administering the VA Loan program and determining who…
Yes, you will need to pay back your VA Loan. Just like any home mortgage, you will need to make monthly payments to your lender. These include principal, interest, taxes, and insurance. The principal amount goes toward the outstanding balance…
The VA Loan is a mortgage backed by the Department of Veterans Affairs. While a conventional mortgage goes directly through the lender, who approves you based on income, credit, and other factors, the VA Loan has added protection for the…
The VA Loan is backed by the Department of Veterans Affairs and available for military service members, Veterans, Reservists, National Guard members, and spouses under some circumstances. It originated as part of the Post-World War II GI Bill along with…
If you are a Veteran or military service member looking to buy a home, chances are that you have considered using a loan backed by the Department of Veterans Affairs. The loans, known as VA Loans, allow you to buy…
You will apply for a loan through your lender completing all of the standard mortgage application paperwork. During this process, make sure to let them know that you intend to use your VA Loan entitlement. They can help you from…
You can only have one active VA Loan at one time in most cases. In order to use your VA Loan, you must satisfy the eligibility requirements and have a Certificate of Eligibility (COE) issued from the Department of Veterans…
