ARCHIVED BLOG POSTS
2011
Borrowers looking for their first home have many questions about the pre-qualification process. Depending on where you look for a VA mortgage, pre-qualification questionnaires may vary greatly. For example, some online forms ask the borrower to estimate their own credit as “Excellent”, “Good”, “F...
02/28/2011
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In my last post we examined foreclosure issues as they relate to VA loan eligibility. You can't get VA loan eligibility restored if you owe the government money because it paid off a claim on your VA mortgage--you must pay the government debt first. But what about owners who have purchased a home...
02/25/2011
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VA borrowers have many questions in the VA loan application process-and not all of them come from first-time home buyers. There are a range of questions about VA loan eligibility that pertain to second loans, surviving spouses of deceased military veterans and other issues that frequently come up...
02/24/2011
There are three sets of VA loan eligibility categories. This is because the requirements for verifying a veteran's eligibility for a VA insured home loan differ depending on circumstances, including the dates of service, what type of military service is on record and the nature of the discharge o...
02/24/2011
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A veteran who at risk of losing his or her home due to foreclosure proceedings may wonder if it’s possible to apply for another VA loan in the future. It’s easy to assume that once you’ve lost a home due to foreclosure on a VA mortgage that you won’t get a second chance, but that assumption isn’...
02/23/2011
Refinancing a VA home loan is an excellent way to avoid loan default or foreclosure or simply restructure finances to put the borrower in a better economic position. But borrowers should know prior to applying for a VA refinancing loan that depending on the borrower's choices, the refinancing low...
02/22/2011
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The VA Loan Funding Fee is how the VA loan program stays in business–borrowers pay a percentage of the VA loan total as a cost of getting the VA home loan. Buyers are allowed to finance the VA funding fee or pay it in cash, but the funding fee must be paid at closing time. For those who expect t...
02/21/2011
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When applying for a VA loan, the borrower agrees to pay a set of fees and charges associated with the costs of the VA loan. Those charges include the VA Funding Fee, closing costs, and the lender’s flat fee. That fee is calculated at one percent of the loan amount, so there is no specific dollar...
02/21/2011
In our last blog post we discussed how regular active duty military members and Guard/Reservists who have served on active duty can apply for their VA loan certificate of eligibility. Getting that certificate is the very first step in taking out a VA mortgage loan. A veteran who has technically ...
02/18/2011
The very first step to getting a VA home loan is to apply for a VA Certificate of Eligibility. Veterans who have served the proper minimum time in service for their status as regular active duty, or Reservists and National Guard members who have served on active duty may be technically eligible ...
02/18/2011
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Bruce Reichstein
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