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VA Mortgage
What are the income requirements for a VA loan?
Why does my VA Certificate of Eligibility say $36 000?
The figure of $ 36,000, which many see on their Certificate of Eligibility (COE), refers to the part of the right known as the “basic”. This is the VA’s largest guarantee for loans…
What are the benefits of a VA mortgage?
The most common reason why VA home loan applications are rejected is because of the application errors themselves. Lenders will not be able to provide loans unless they are sure that your personal and financial details are correct. Before…
What are the cons of a VA loan?
How often do VA loans get denied?
Certain veterans are refused consent because of their military status, credit history, lack of income, or the terms of the loan they are seeking. Overall, about 15% of applications are rejected but…
Is FHA or VA loan better?
Are VA loan appraisals tougher?
The Department of Veterans Affairs is endorsing the house, so they want to make sure the house is in good condition before approving any type of mortgage loan. This makes most VA assessments more…
Who pays closing costs on VA loan?
Can a veteran pay for repairs on a VA loan?
VA can guarantee an alteration and/or repair loan that allows the improvements to be valued and completed after loan closing. Loan proceeds are paid to the builder and/or contractor during…
What will fail a VA inspection?
VA appraisal guidelines can be strict and can eliminate fixer-uppers from contention. Many of the guidelines can be frustrating for military buyers considering older homes in need of renovation. If a home fails to meet the MPRs the buyer…
Why do sellers hate VA loans?
What are the pros and cons of a VA loan?
AdvantagesConsNo down payment requiredMust be eligible based on military serviceNo loan limitsMore stringent assessment requirementsNo income restrictionsStay longer between refinances than…
Why are VA loans bad?
How strict are VA loans?
Upon granting a VA loan, the borrower may choose to increase any number of asset limits. Some give money is very honest, while others are more satisfying. For example, when the VA authorized the purchase of…
VA Mortgages
How long do you have to pay off a VA loan?
It depends on whether you have a loan with a fixed interest rate or a mortgage with an adjustable interest rate. A fixed rate mortgage is just that: it never changes. A fixed rate VA loan is…