A VA loan is funded by conventional lender but insured by the Veterans Administration, allowing lenders to be more generous with their qualifying standards, interest rates and down payments.
To ensure your eligibility a request for a certificate of eligibility must be filled out and submitted to the VA. This form can be found on their website and submitted at a Veterans Center in your area.
If you were active duty during World War II, the Korean War, the Vietnam war or were activated for the National Guard or the Reserves during the Persion Gulf Conflict and served at least 90 days, you should be eligible to receive a VA home loan. Veterans who served over 180 days during peacetime before 1980 or two years peacetime duty after 1980 may also be eligible. Military persons who were dishonorably discharged are not eligible.
VA loans are home loans for veterans who have served in either piece time or war time conditions. These loans usually require little to no down payment and they are offered at lower interest rates. VA loans can be used to finance a new home or to improve a current home. ..
Calculate the monthly interest and principal that will be paid on your new loan. Print your your amortization schedule and factor in extra monthly payments to pay off your loan early…
Loans are awarded based on your income, the size of your debts and your history with repaying debts in the past. If you are looking to buy a home there are special programs available to help you come up with money for a down payment…
A mortgage refinance is a great way to lower your interest rate if you are planning on staying in your home for at least three more years. You can also get cash out of your mortgage through a home equity loan at the same time you refinance…
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Equity loans are a popular method of using home equity to capture today’s low interest rates for making large purchases or investments. Get a lower interest rate than your first home loan for up to the entire value of your present home…