VA Loan Purchasing: What About Restoration Of Entitlement
Welcome back!There are certain conditions in which a veteran who has previously purchased a home using a VA home loan, can take their previously used entitlement and actually have it restored to its original amount. This is what restoration of entitlement is all about. It allows veterans to purchase another home.
Of [...]
Use Your Remaining Entitlement To Get A Second VA Loan
If you have had a VA loan in the past, you might have some “remaining entitlement” which can be used to obtain another VA loan. At the present time, eligible veterans have an amount of entitlement equal to $36,000. This amount has increase gradually over time. Veterans who purchased a home when the [...]
The Historical Backdrop To VA Fixed-Rate Loans
It was in 1944, that then President Franklin D. Roosevelt established what would later be called the GI Bill. The bill that was signed into office was called the Servicemen’s Readjustment Act. The point of the new law was to provide military veterans with the ability to purchase homes without paying the standard [...]
VA Loan Basics: Using A Real Estate Agent To Your Advantage
There is a whole process involved with purchasing a home using financing. If you are a veteran and you have decided to use a VA loan the same rules apply when it come to viewing and inspecting a potential home. You will want to adhere to a few non-nonsense guidelines when you start [...]
VA Loan Guideline Restrictions
Having an idea about what the restrictions are under the official VA loan guidelines can help you in making a decision about financing. Basically, VA Loans can be used to buy or build a primary residence, refinance a current VA Loan, as well as provide a refinancing option for standard loans or other forms [...]
Why Do VA Loans Exist?
What is the fundamental reason that VA loans exist? This is a serious question with an equally serious answer. As you may know, the Veterans Administration or the Department of Veterans Affairs is dedicated to providing military veterans with assistance in a number of areas including financial, educational, and medical.
The real heart of [...]
What Happens To A VA Loan After The Veteran Passes Away?
The question will come up eventually? What will happen to a home mortgage loan in the event the borrower dies unexpectedly or passes away after a long illness? The question remains the same whether you are talking about traditional types of loans or VA-guaranteed loans.
Unless some sort of mortgage life insurance [...]
Ways To Enhance VA Eligibility: Try Improving Your Credit
Since debt ratio is such a important factor that determines your eligibility for a VA loan it may be a great idea to concentrate some time and effort to repairing or improving your credit. The goal is to deal with problems in your credit history that may hinder your opportunities rather than enhance your [...]
Taking Advantage of VA Home Foreclosures
It is an unfortunate reality for many homeowners who are paying monthly mortgage payments. Many borrowers find themselves in adverse financial circumstances that can lead to missed payments and defaulting on their loan agreements. This can lead to foreclosures.
The Department of Veterans Affairs obtains the properties of veterans that have gone into [...]
The Importance Of The DD214 Form To Obtaining A VA Loan
Perhaps, one of the most important military documents you have as a veteran is the DD214, which is the paperwork that details your discharge from the armed forces. This document serves as proof of your military status, meaning whether you are discharged, retired, or separated. The DD214 will also detail the nature of [...]
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