27 Sep 2024
By noelkelman

VA vs FHA vs USDA What’s the Difference?

Mortgage, ,
You may have more options than you think when it comes to securing a mortgage for your new home. While many buyers opt for conventional financing, another option or program might be a better choice for you, depending on your personal and financial situation. Learning more about FHA, USDA, and VA loans ensures you get the best possible deal for your mortgage and that you secure the loan that you need for your new home. Here’s what you need to know about these useful mortgage options. FHA LoansThese are traditional mortgages that are backed by the FHA: when you take…
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22 Mar 2024
By noelkelman

Consumer Guide: Mortgages for Veterans – A Guide to VA Loans

Mortagage Tips, ,
Are you a veteran or an active-duty military member considering homeownership? VA loans offer significant benefits tailored to meet the needs of veterans and service members. Here's a concise guide to understanding the advantages and requirements of VA loans: Benefits of VA Loans: No Down Payment: One of the most significant advantages of VA loans is that they often require no down payment, making homeownership more accessible for veterans and active-duty military personnel. Lower Interest Rates: VA loans typically offer lower interest rates compared to conventional mortgages, which can result in substantial savings over the life of the loan. No…
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09 Jan 2024
By noelkelman

Unveiling the Power of VA Loans for Veterans

Home Mortgage, ,
For the brave men and women who have served in the armed forces, the dream of homeownership becomes more attainable and rewarding through the power of VA loans. We will discuss the unique features that make VA loans a tool for veterans, empowering them to secure homes with financial flexibility and favorable terms. No Down Payment: Breaking the Barriers VA loans stand out prominently by eliminating one of the most significant barriers to homeownership – the down payment. For veterans, this means the opportunity to own a home without the burden of accumulating a substantial upfront amount. The power of…
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17 Mar 2023
By noelkelman

Is A VA Loan The Best Option For Your Needs?

Mortgage,
If you plan on buying a house in the near future, there are a few mortgage options available. One potential option is called a VA loan. This is a loan that has been backed by the Department of Veterans Affairs, and it could provide you with some added flexibility that you can use to purchase a house. Is a VA loan right for you? There are a few points to keep in mind. Who Qualifies For a VA Loan? First, not everyone is able to access a VA loan. This is a loan that is generally only available to active members of…
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19 Jan 2023
By noelkelman

VA Loans: Are They Assumable?

Mortgage, ,
Members of the military, their family members, and veterans have access to a unique mortgage option called a VA loan. This can be a strong option because it provides borrowers with an opportunity to purchase a house for less than 20 percent down. While not everyone is eligible for a VA loan, there are a lot of people who are wondering, are VA loans assumable? There are a few key points to keep in mind. What Is An Assumable Loan? An assumable loan means that the buyer is essentially going to take over the mortgage held by the seller. Essentially,…
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07 Oct 2022
By noelkelman

Current Servicemember or Veteran? 4 Reasons Why a VA Home Loan Is an Excellent Choice

Home Mortgage Tips, ,
Are you current or former member of the US military service who is looking to buy a new home? If so, you will be pleased to know that there are some special mortgage programs that are open to you. Let's take a look at five reasons why a mortgage backed by the Department of Veterans Affairs is an excellent choice when buying your new home. You Can Borrow Up To 100% Of The Home's Value You read that correctly! VA-backed mortgages are available to you even if you choose to put no money towards your down payment. This can be…
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13 Sep 2022
By noelkelman

The Minimum Credit Score For VA Home Loan Approval: What To Know

Mortgage, ,
When you are applying for a home loan, you need to make sure that you meet the minimum credit score requirements. If you decide to go with a traditional loan, the credit limit can be high, making it hard to qualify for a home loan. In contrast, you might be able to qualify for a VA home loan with a much lower credit score. What do you need to know? The VA Does Not Have A Minimum Credit Score Requirement One of the major benefits of applying for a VA home loan is that you do not need to worry…
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03 Mar 2022
By noelkelman

Can You Refinance into a VA Mortgage from Another Type of Mortgage? Yes, If You Qualify

Home Mortgage Tips, ,
VA mortgages stand out as one of the biggest benefits to men and women serving in the military. Although private lenders make the loan, the Department of Veterans Affairs guarantees all VA mortgages, which is why these loans come with favorable terms and benefits not found with other mortgage types. The Benefits Of Refinancing To A VA Mortgage A VA loan may very well be the borrower's only option for putting no money down, as many lenders will cover 100% of the value of the home, thanks to the backing of Veterans Affairs. There is a ceiling on the amount…
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