Archive for the ‘VA Mortgage Loans’ Category

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

Last week, Congress voted to extend the First Time Home Buyer Tax Credit for an additional six months for any service member that served at least 90 days overseas. This is an excellent development for our VA Guaranteed Loan clients, not only can you get a mortgage with no down payment, no mortgage insurance, and expanded credit underwriting, but, if they are a first time home buyer, they also qualify for the up to $8,000 tax credit. Read More

VA Guaranteed Home Loans are available to veterans with at least three months active, honorable, service or six years of Reserve or National Guard service. They are also available for active duty members under certain circumstances. Read More

VA Guaranteed Loans in Oregon do not require a down payment if the purchase price/loan amount is below $417,000. However, if the purchase price is above that amount, then a down payment is require, which still could be the best way to go for many veterans. The VA Guaranteed Home Loan is, to my thinking, one of the best benefits we have for our veterans. Read More

VA Guaranteed Home Loans are different than any other type of loan in one very interesting way. To get a VA guaranteed loan, you have to be a veteran (and spouse) or an active duty military (and spouse) or the surviving (un-remarried) spouse of a veteran. What that means is that a couple that are not married and only one of them is a veteran, VA loan benefits are nearly not available. Read More