VA loan expert Chris Birk brings you the latest news and tips about your VA loan benefit
It's easy to assume your mortgage payment is just a flat cost. However, VA mortgages have their payments broken into four parts: principal, interest, taxes, and insurance (PITI).
Falling behind on mortgage payments is a stressful situation. Thankfully, there are several VA foreclosure avoidance options available to you that can potentially save you from losing your home.
Lenders consider your gross monthly income when evaluating what kind of mortgage you can afford. In other words, they’re looking at your major monthly debts in relation to your pre-tax income.
Just like veterans and military members families are eligible for a VA home loan, the U.S. Public Health Service and the National Oceanic and Atmospheric Administration are also qualified, meaning they can secure $0 down payment mortgage.
Having flood insurance can save you from severe financial devastation. VA lenders typically require you to purchase a separate flood insurance policy before closing on your home loan.
Many first-time homebuyers are surprised to learn there isn't one uniform set of guidelines and requirements for a VA home loan.
Wondering whether an Energy Efficient Mortgage is right for you? There are a lot of options when it comes to the VA loan, and an EEM is just one of the many ways to maximize your hard-earned benefit.
It is possible to receive a refund on the VA funding fee. Borrowers may be eligible for a refund if awarded VA compensation for a service-connected disability - bearing the effective date of the VA compensation is retroactive before the VA loan closing.
Qualifying for a VA loan after bankruptcy is certainly possible, often in a shorter period than you would with a conventional loan.
Making biweekly mortgage payments can be an easy way for VA homebuyers to pay off the loan faster, reduce interest charges, and build equity.
Each year, most VA loans are made to veterans. However, active duty service members and those still serving in the National Guard and Reserves can absolutely look to use their VA home loan benefits.
Veterans are turning to their home loan benefit in never-before-seen numbers, driven by rock-bottom interest rates and a surge in refinance interest.
Having homeowners insurance on your property isn’t just a good bet. VA lenders will require you to have sufficient homeowners insurance in place before you can close on a loan.