What is the limit on these loans anyway? An easy guide to know how much you can get a loan for. Lets get to Brass Tax here. The maximum guaranteed on a VA loan is 240,000 and while this might buy a fairly large sized house in most areas of the country, high priced markets [...]
The VA Home Loan program has helped more than 19 million veterans become homeowners since 1944. Even during difficult economic times, VA loans made home buying a streamlined and relatively hassle-free process for military homebuyers.
For almost 70 years, these loans have helped level the playing field for American service members. Today, the VA loan program is more important than ever before, as borrowers turn to safety, security and buying power of these government-backed loans.
Lenders have tightened their credit requirements creating a situation where what was once considered a good credit score will no longer cut it. Have you checked your credit score lately? If the answer is no you’re not alone. I’m not advocating expensive credit monitoring services, but what I am suggesting is an understanding of the variables that effect your credit score. Once you have a handle on the basics it’s actually quite simple to build and maintain a good credit score
The VA Vendee Loan program is for properties that have gone into foreclosure, and are actually loans given by the Veteran‘s Admin. The administration still has to approve the loan based on the usual criteria such as credit history, income, and debt. Anyone can apply for these loans, whether military or civilian. There is a [...]
If you are now on regular duty (not active duty for training), you are eligible after having served 181 days (90 days during the Gulf War) unless discharged or separated from a previous qualifying period of active duty service.
by Frank Lozano, VA Loan Specialist, DirectVALoan.com So today I received a VA Home Loan question from a Veteran who says, In 1991 my then wife and I purchased a home. In June 1997 we got divorced and I quit claimed the deed to my ex-wife. Now according to our divorce deal I have to [...]
By Frank Lozano, VA Loan Specialist, DirectVALoan.com Yes, you will still be eligible for a VA Mortgage Loan if you are in the National Guard as long as you meet the service requirements for the VA Loan. The service requirements for National Guard are 181 days of service. Without being activated that corresponds to around [...]
By Frank Lozano, Amerisave Mortgage VA Home Loan Specialist So today, I received this question from a widow of a veteran. “Frank, am I able to get a VA Home Loan if I am the former spouse of a retired 30 year army colonel who passed away in 2004?” Well, the unmarried surviving spouse of [...]
by Frank Lozano, Loan Officer, Amerisave Mortgage Recently, I had a disabled Veteran apply for a VA Mortgage. He had a credit score below what we could normally get funded. Furthermore he asked; “I am a disabled Vietnam Veteran barely surviving on a VA disability pension. I am 100% disabled and will need special modification [...]
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