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What is a VA loan and who qualifies?

Both spouses can apply for a mortgage, and both of their incomes can be used for qualification. ... The VA loan benefit is also transferred to surviving spouses who have not remarried or to some who remarry after the age of 57. Marriage

Why do sellers prefer conventional over VA?

How can I make my FHA offer more appealing? Strengthen the offer Increasing the deposit, if possible, can often make the offer more attractive to the seller. Writing letters to sellers about how much you love their home can sometimes

Do you pay PMI with a VA loan?

What determines mortgage insurance rates? Mortgage insurance is always calculated as a percentage of the mortgage loan amount, not the value of the home or the purchase price. For example: If your loan is $200,000 and your annual

What are the pros and cons of a VA loan?

Does VA require PMI? Do VA loans require PMI? No, unlike other loans, you don't have to worry about PMI. Due to entitlements, which usually amount to more than 20 percent of the home's value, you don't have to pay PMI with a VA loan.

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

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