VA Loans for Military Men and Women

Photo Credit: U.S. DOD

Men and women of the U.S. military may be eligible for VA loans and take advantage of some great mortgage terms. According to the Census, the female civilian veteran population has increased steadily from 1.2 million in 2008 to 1.9 million in 2010. You go, girls! VA offers the same great VA home loan benefits […]

3 Reasons Why No PMI with VA Loans is a Big Deal

Photo Credit: Google Images

One of the many special features of VA loans is that borrowers don’t have to carry private mortgage insurance (PMI).  PMI is insurance homeowners must get if they have less than 20% equity on a home financed with conventional or FHA loans.  The insurance helps secure the loan and cover lender losses if a loan […]

When to use a VA Refinance Loan

Photo Credit: Google Images

Many of you may have noticed by now that mortgage interest rates are unusually low.  When interest rates are low, lenders get a wave of VA refinance loan applications.  Some key tips can help eligible borrowers determine whether now is the right time to use a VA refinance loan. Tip #1: VA Refinance Loans Should […]

Relocated Military Families with or without VA Loans are Protected from Loss

Photo Credit: phanlop88

Military families who purchased a home before July 1, 2006 and face a loss due to service relocation may get help from the government.  The home does not need to be financed with a VA loan, but it does have to be their primary residence. The Homeowner’s Assistance Program, part of the 2009 Stimulus Bill, […]

Active Duty Members Get Relief from VA Loan Default

Photo Credit: Getty Images

Relief from VA loan default or foreclosure is available for VA borrowers on active duty through the Servicemembers Civil Relief Act (SCRA).  Many VA borrowers deployed away from home may be able protect their families from financial stress. The Act suspends civil claims against deployed servicemembers and protects their families from going to court, even […]

Rollin’ in the VA Loan Fees

Photo Credit: Google Images

One of the great features of VA loans is that often little or no cash is required at closing.  Rolling in fees on VA purchase and refinance loans can help reduce the amount of cash a military family needs to bring to the closing table. VA home loan guidelines limit the amount of fees that […]

Our VA Loan Was Sold to Another Company for Servicing – is this okay?

Photo Credit: Google Images

Military families often ask why their VA loan was sold to another company. Loan transfer is a common scenario, after closing on a VA mortgage. A VA loan may be sold to another company for servicing. The VA-approved lender that originated and funded your mortgage might not be in the practice of servicing loans. Lots […]

Why Buy Now with a VA Loan?

Photo Credit: Google Images

Military families across the country are finding now to be a great time to buy a home using their VA home loan benefits. Here are 3 sound reasons to buy a home now with a VA loan: 1) No Money Down While conventional borrowers have to come up with as much as 20% cash upfront […]

VA Loan Process & Forms – 4 Tips for Speedy Processing

Photo Credit: Google Images

Quick VA loan processing is important for busy military families.  VA loans can close in less than 30 days if you follow these tips:  Tip #1: Come prepared with all your documents. Loan specialists need documentation to prove that you qualify.  They may ask for W-2s, 1099s, tax returns, proof of service, investment statements, bank […]