VA Homebuying Answers
Featured Answers
VA Loan Rates
Understand how your rate is calculated and the factors that go into determining the VA Loan rate you receive, along with the advantages of VA loan rates.
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The VA home loan is a lifetime benefit for Veterans, meaning there are no limits to how many times you can use a VA loan.
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Obtaining your Certificate of Eligibility (COE) is an important part of verifying your VA loan eligibility.
Continue →VA Loan Benefits
VA home loan benefits offer unique advantages that are unlike other mortgage products on the market.
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VA Loan Process
VA Loans and Escrow - Explained
Dealing with the escrow process while taking out a VA home loan may seem intimidating, especially if you’re a first-time homebuyer or you haven’t been in the market in a while. But whether you’re coming home after a deployment, retiring from the service, or just moving out of off-base housing, you may have to use escrow to purchase your new home.
Let’s look at what every VA borrower needs to know when it comes to VA loans and escrow.
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VA Loan Eligibility
VA Loans with Bad Credit
While your credit score is an extremely important figure factored into your VA loan approval process, there are certain steps you can take to secure a VA loan with a lower-than-desired credit score.
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VA Loan Eligibility
Latest VA Funding Fee Rates and Exemptions
The VA funding fee is something every veteran has to pay unless you meet one of the exemption requirements.
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VA Loan Eligibility
VA Home Loan Eligibility Requirements
By having a solid understanding of your VA loan eligibility, you are able to find the loan that benefits you the best.
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VA Loan Basics
Minimum Property Requirements (MPRs) for VA Home Loans
Understand how MPRs can affect your eligibility for a VA loan.
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VA Loan Eligibility
VA Loan Entitlement and Partial Eligibility
Learn how the VA calculates your remaining VA Loan Entitlement and how it impacts your VA loan benefit.
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VA Loan Basics
VA Jumbo Loans Explained
VA jumbo loans offer a way for Veterans and other military members to purchase a home in more expensive regions of the country.
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VA Loan Process
VA Loan Limits for 2023
VA loans are available up to $726,200 in most areas but can exceed $1,00,000 for single-family homes in high-cost counties. Calculate your VA loan limit to see your personalized loan limits don't apply to all borrowers.
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VA Loan Basics
VA Loans for Land: How They Work
A VA loan can be a great way to buy a home, but can it be used to purchase land for a potential home? Here's what you need to know about VA loans for land.
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Homebuyer Prep
VA Loans and Short Sales: What You Should Know
A VA short sale can be a more attractive option than a foreclosure. Learn about the regulations and effects of VA short sales.
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VA Loan Eligibility
How to Get a VA Loan When Self-Employed
Here's a look at the requirements and qualifications for self-employed veterans interested in a VA loan.
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Homebuyer Prep
How Pest Inspections Can Impact Your VA Loan
The last thing you want as a homeowner is to learn your home has a pest infestation once it's too late. Learn about VA home loan pest inspection requirements in your state.
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VA Loan Eligibility
VA Loan Employment Requirements
VA loan lenders look for borrowers to have a steady, reliable income in order to prove they are likely to repay their mortgage. Two years is typically the minimum employment requirement for VA loans, but this is not always the case.
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VA Loan Basics
Buying Down Your VA Interest Rate: Guide to Discount Points
VA loans offer many benefits for qualifying borrowers, one of which is the ability to purchase discount points that can lower the costs over the life of your loan.
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VA Loan Eligibility
VA Loans for Modular and Manufactured (Mobile) Homes
Purchasing a modular or mobile home may be possible with a VA loan, but you will need to meet some unique requirements.
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VA Loan Process
Gift Funds and VA Loans: What They Are and How to Use Them
The VA loan program does allow gift funds to be used towards the down payment and closing costs, but there must be a letter including donor information.
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Homebuyer Prep
Military Orders to Break a Lease
It’s relatively common for service members to be called to active duty or receive Permanent Change of Station (PCS) orders while renting their home. Of course, this can be tricky, because your timeline probably doesn’t account for your lease agreement, meaning you’ll need to break your lease.
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VA Loan Process
7 Things Not to Do Before Closing on Your VA Loan
Closing on your home is undoubtedly a very exciting day, but it’s important to avoid certain financial moves that could jeopardize your VA loan.
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VA Loan Basics
VA Interest Rate Reduction Refinance Loan
The VA Interest Rate Reduction Refinance Loan (IRRRL), also known as the VA Streamline Refinance, is one of the best options for existing VA loan holders who want to take advantage of lower interest rates or refinance into a fixed-rate mortgage.
Wondering what an IRRRL is and how it works? The following guide will explain everything you need to know.
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VA Loan Basics
VA Loan Rates
Understand how your rate is calculated and the factors that go into determining the VA Loan rate you receive, along with the advantages of VA loan rates.
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VA Loan Basics
VA Loan Forbearance and Other Loss Mitigation Options
The COVID-19 pandemic caused significant financial challenges for many Veterans and military members. If you’ve faced a job loss, income reduction or other financial setbacks, you could be struggling to make monthly mortgage payments on your home.
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VA Loan Eligibility
Specially Adapted Housing Grants for Veterans
Learn about the Specially Adapted Housing grant from the Department of Veterans Affairs (VA) for disabled veterans.
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Homebuyer Prep
PCS Entitlement Allowances
Active duty military members and their families are no strangers to relocation. Permanent change of station (PCS) orders can be handed down every few years or more.
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Homebuyer Prep
PCS Move Checklist: Why a Home Inventory is Crucial
Moving is one of the most stressful times in people's lives, and no one moves around more than service members and their families.
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Homebuyer Prep
What To Know About PCS Weight Allowance in 2022
Moving is a part of military life. Whether a soldier is flying solo or traveling with a big family, they'll likely face moves every few years during their tour of duty with the U.S. military.
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VA Loan Eligibility
Children of Veterans: Are They Eligible for VA Loans?
Knowing if you're eligible for the VA loan as a child of a Veteran can be helpful when looking to buy a home.
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Homebuyer Prep
PCS Prohibited List - What Can’t be Moved in a PCS
When going through a PCS move, it's important to understand what is and isn't allowed for the move.
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VA Loan Basics
VA Cash-Out Refinance
VA Cash-Out refinancing allows prospective homeowners to take equity out of their home in the form of cash.
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Homebuyer Prep
6 Steps to a Seamless PCS Military Move
Understanding what a PCS order is and the process can be helpful when preparing for a military move.
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VA Loan Eligibility
National Guard and Reserves VA Loan Eligibility
Thousands of National Guard and Reserve members are eligible for the VA loan program, and new legislation is expanding eligibility to even more Guardsmen, women and Reservists around the country.
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Homebuyer Prep
Radon Testing and VA Loans
See common questions and answers about radon testing in homes that have been financed with a VA Mortgage.
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VA Loan Basics
Breaking Down the VA Child Care Letter
Throughout the VA home loan process lenders will want to look at all of your expenses. This includes childcare in which you may be asked to produce a VA Child Care Statement.
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VA Loan Process
VA Loans and Clear to Close (CTC): What it Means for Veterans
Receiving your clear to close is an exciting milestone in your VA homebuying journey.
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VA Loan Basics
Ready to Renovate? 5 VA Home Improvement Loan Options
Are you planning to make repairs or update your home? Here’s what you need to know about your VA home improvement loan options.
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VA Loan Eligibility
Are National Guard Members Considered Veterans?
Veterans are eligible for a whole slew of benefits, including the valuable VA home loan. But do National Guard members fall under that umbrella? Or is Veteran status just for members of the main five branches?
Let’s take a look at the issue in more depth.
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VA Loan Eligibility
How to Obtain Your COE in the National Guard
In order to use your VA loan benefit as a member of the National Guard, you’ll need to obtain your Certificate of Eligibility (COE).
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VA Loan Basics
How Veterans Can Access Their Home’s Equity
Do you have VA loan equity reserves? Let’s discuss how to build them up — and how to use them.
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VA Loan Basics
VA Cash-Out Refinance vs Home Equity Line of Credit (HELOC)
Are you looking for a way to leverage your growing home equity? Let’s look at how these two methods differ.
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VA Loan Process
Getting Preapproved for a VA Home Loan
A step-by-step guide for how to get prequalified and preapproved for a VA home loan.
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Homebuyer Prep
VA Loan Checklist: Common Documents Needs When Applying for a VA Loan
Here we dive into the common document needs when applying for a VA loan. Keep in mind, having every document upfront isn't necessary to start the loan process, but helps keep things moving.
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VA Loan Process
How to Apply for a VA Loan and Check Your Eligibility
Applying for your Certificate of Eligibility is just one part of the larger VA home loan application process.
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VA Loan Process
VA Loan Underwriting Guidelines
The VA loan underwriting process often raises questions from homebuyers, but the goal is simple: verify the facts, and protect all parties involved.
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VA Loan Process
Lender Appraisal Processing Program
The Lender Appraisal Program (LAPP) is a program available to lenders that have met specific requirements. A lender must be approved by the Central Office. By using an LAPP lender, a VA assigned appraiser can actually close the applicant's loan, allowing for the loan process to be expedited.
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VA Loan Eligibility
VA Loan Debt-to-Income (DTI) Ratio Requirements
See how your debt-to-income (DTI) ratio and credit score affect your VA loan eligibility.
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Homebuyer Prep
Everything You Should Know About VA Appraisals
An essential part of buying a home is a VA appraisal and home inspection to make sure it's fit and livable for you and your family.
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VA Loan Eligibility
Applying for a VA Loan with a Co-Borrower
See the benefits and requirements of using a VA loan with a co-borrower in what's often called a joint VA loan.
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VA Loan Basics
BAH and VA Loans
Basic Allowance for Housing, or BAH, is a tool that can help VA lenders gauge what kind of mortgage payment an eligible veteran can handle.
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Homebuyer Prep
VA Loans and Homeowners Insurance
Having home owners insurance when purchasing a home with a VA loan can be important when dealing with possible property risks.
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VA Loan Basics
VA Loans and Multi-Family Homes
Learn about how a homebuyer can use a VA Loan to purchase a multi-family home and the requirements needed to do so.
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Homebuyer Prep
VA Loans and Natural Disasters
Unfortunately, disasters happen. When they do, you need to take special care to ensure you will be able to continue your day-to-day life without greatly disrupting your financial situation.
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VA Loan Process
VA Loan Purchase Agreement
The VA offers veterans many benefits that help them throughout their lifetime. One of those valuable benefits is the VA Home Loan Guarantee Program.
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VA Loan Basics
VA Loans for Investment Property
VA loans are intended to be the buyers' primary residence. However, under certain circumstances, you may be able to use a VA loan for rental property.
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VA Loan Process
Information on Modifying a VA Loan
The VA offers Veterans who have used the VA Home Loan Guarantee Program and subsequently fallen on hard times, the opportunity to have loan modifications.
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VA Loan Basics
Earnest Money Deposits and VA Loans
Learn the guidelines for earnest money deposits and VA loans to ensure you are making the right decisions.
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VA Loan Basics
VA Energy Efficient Mortgage
Learn about the VA Energy Efficient Mortgage and how you can finance energy-efficient home improvements into your VA Home Loan.
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VA Loan Eligibility
VA Loans Options with a Prior Bankruptcy
Learn how a Chapter 7 or Chapter 13 bankruptcy can affect you ability to get a VA home loan, or how low late payments affect your loan and the possibility of foreclosure if your mortgage goes unpaid.
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VA Loan Basics
VA Loans vs Other Mortgages
Understand the advantages of the VA loan compared to other popular loan options.
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VA Loan Basics
VA Loan Occupancy Requirements
Learn about the approved uses for VA Home Loans.
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VA Loan Basics
VA Construction Loans: Building a Home with a VA Loan
VA construction loans provide the perfect opportunity to build your dream home.
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VA Loan Process
Buying a Condo with a VA Loan
Purchasing a condo has some serious perks, but there are certain requirements properties must meet to ensure that a VA loan can be used to help purchase a condo.
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VA Loan Basics
Closing Costs for VA Home Loans
Having a solid understanding of the total amount of VA loan closing costs and non-loan related costs is an important figure to consider when buying a home.
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VA Loan Eligibility
How Many Times You Can Use a VA Loan
The VA home loan is a lifetime benefit for Veterans, meaning there are no limits to how many times you can use a VA loan.
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VA Loan Basics
VA Loan Refinance Options
Refinancing your VA home loan can be a powerful financial decision. Make sure you are aware of the different refinancing options, and what implications it has on your current mortgage.
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VA Loan Eligibility
VA Certificate of Eligibility
Obtaining your Certificate of Eligibility (COE) is an important part of verifying your VA loan eligibility.
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VA Loan Basics
VA Loan Benefits
VA home loan benefits offer unique advantages that are unlike other mortgage products on the market.
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VA Loan Basics
How VA Loans Work
Knowing how VA loans work can help you through the homebuying journey.
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Homebuyer Prep
What First-Time Homebuyers Need to Know About VA Loans
VA first-time homebuyers must understand the process, benefits, and eligibility requirements of the VA mortgage before determining if it's right for them.
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VA Loan Eligibility
How Divorce Affects Your VA Loan
We'll look at two common scenarios below: what happens to a current VA loan after divorce and getting a new VA loan after divorce.
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VA Loan Basics
VA Loan Assumption: Should You Sell or Assume?
Both a traditional home sale and VA loan assumption have their advantages and disadvantages. Here we take a look at when each option may work best.
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VA Loan Eligibility
VA Loan Eligibility for Surviving Spouses
It's absolutely possible for surviving military spouses to meet the eligibility requirements needed for a VA loan. We'll look at this process below in more detail.
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