Archive for the ‘VA IRRRL Mortgage’ Category

In my continuing endeavor to answer peoples questions about loans and lending, today, I have picked a question that has several things involved with it, a cash out refinance of a VA Guaranteed Home Loan. Again, the question comes from My FHA Mortgage Blog and hopefully will answer questions for several people facing the same issue. Read More

Although most home buyers don’t understand the difference between a VA underwriting guideline and a lender overlay, that difference can be huge in determining if they can purchase a home.  There are a lot of very interesting changes in lending happening currently. Many people get confused in exactly what is a VA Guaranteed Home Loan? Basically, it means that VA Guarantees that the loan will perform, it does not mean that VA is loaning the money for the home loan, thus the start of the misunderstanding. Read More

This is third in a short series of questions and answers about VA Loans. VA Loans are one of the very few methods for a home buyer to purchase a new home with no down payment. In my first post, I discussed getting a certificate of eligibility (COE).  Here is a question that comes up now and again having to do with VA Guaranteed Loans, “I have already obtained one VA loan. Can I get another?” Read More

There are a lot of questions about VA Guaranteed Loans in the Eugene/Springfield Oregon area and this is my second installment to answer some of those questions. Today, I am going to discuss the VA Funding Fee. A Veteran that makes use of a VA loan will pay a funding fee unless they are exempt from the collection of said fee by having a 10% or greater service connected disability. Read More

VA Streamline Refinances are such a great deal, I did one myself and I had a great interest rate. My interest rate for a 30 year fixed on my VA loan was 5.5% so you might ask how I could improve on this to make it worth while to refinance. The answer is simple, I went to an adjustable rate mortgage. Read More