When you get a VA loan to purchase a house the great thing is your are getting 100% financing, there is no down payment. This is the #1 of many VA loan benefits available only to veterans and active military. There is no other mainstream loan available that is 100% financing no money down. However, [...]
Closing Costs
The VA has released the VA loan limits for 2010. These limits are the loan amounts the VA will allow up to 100% financing to. The limits are by county. Below is a list of the counties in California and what their VA loan limits are for 2010. The VA loan limits for the rest [...]
VA loans are currently the most liberal loans out there in terms of providing borrowers cash-out on refinances all the way up to 100% of the property’s value. Also remember, if you are eligible for a VA loans, you can refinance your conventional loan into a VA loan. Perhaps you have an adjustable rate loan [...]
Here is a quick overview of how your income will be analyzed when you apply and are qualified for a VA Loan: Wage earners 2 year history required of income Commission income As the VA lender we will average your last two years of federal tax returns to count commission income. Make sure you check [...]
There are some debt obligations that are often overlooked when you apply for a VA loan. When I say debt obligations, I’m speaking of only the month payments that will be counted as debt in your qualifying ratios for VA loan. More common items counted as debt are car payments, credit cards and student loans. But [...]
VA still offers a great way for borrowers who have VA loans to drop the interest rate on their home loan without much hassle. This is called the VA IRRRL Loan, also known as the VA Streamline refinance. There have been some changes to this loan in many states because of falling home values. Traditionally, [...]
