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Va Articles

Posted on November 15   By Peter Andrew
As the threats faced by active service members change and military medicine improves, we see a new phenomenon: an enormous increase in the number of veterans who return home with service-connected disabilities. The Bureau of Labor Statistics reports that, in 2012, there were 633,000 of these just from the wars in Afghanistan and Iraq. That's roughly one in four of all Americans who were deployed in those theaters. Of course, there's no way for any nation to repay the debt owed to those permanent.... Read More...
Posted on March 15   By Peter Andrew
Our recent article about the benefits of Veterans Administration mortgages (VA mortgages) listed a number of reasons veterans find it easier to get approval for home loans than most people. That remains true in the sense that lenders tend to set the bar lower in terms of credit history, down payment requirements (frequently zero) and so on. However, they still expect prospective borrowers to comply with a demanding bureaucracy that's likely to require a high volume of supporting documentation. S.... Read More...
Posted on November 07   By Peter Andrew
You're an eligible veteran, wanting a mortgage, who has had some problems in the past with credit. Just how bad must things be before you stand no chance of getting approved for a VA mortgage? Well, different lenders use different criteria to reach their decisions, but some mortgage brokers place the current cut-off point as a credit score of about 620. Unfortunately, that's not a fixed number. Your "debt-to-income ratio" (how comfortable you're going to find it making mortgage payments after yo.... Read More...
Posted on June 01   By MLP Blog
It's no secret that foreclosure rates are up in recent years. However, amid all the turmoil associated with job loss, the economy and other factors, the VA loan program has emerged as a relatively stable force in the otherwise volatile mortgage loan market. The following foreclosure statistics published by the Mortgage Bankers’ Association for the fourth quarter of 2009 illustrate the remarkable difference between the loan types: All Mortgages: 4.58% in foreclosure Prime Mortgages: 3.31% i.... Read More...
Posted on May 10   By Justin McHood
VA loans have been around for quite a while and seem to be more popular than ever after the subprime mortgage meltdown in the last few years. The VA loan program is offered to both Veterans and active-duty military personnel to help them get home financing with guidelines that are somewhat more flexible than traditional financing. And yes, it is true that the Veteran's Administration home loan program allows eligible veterans to buy a house with no money down. That is probably the most-marketed.... Read More...
Posted on May 07   By Justin McHood
The VA streamline program has been around for years. And for years, one of the benefits of the VA streamline program is that no appraisal has been required. Up until now. In the ever-changing world that has become the mortgage industry, some lenders are now requiring that borrowers who want to do a VA streamline refinance now get an appraisal done on their home. Some lenders are requiring a full VA appraisal, some are only requiring a drive-by appraisal... but the important thing is that it is.... Read More...
Posted on April 26   By Justin McHood
For veterans who are currently in a VA loan, the government has made it easier than ever for them to refinance their mortgage into a VA loan with a lower rate through the VA streamline program. Usually, it is referred to as the VA streamline refinance — but occasionally it is also referred to by its official name - the VA IRRRL program. VA Streamline Refinance Program The VA Streamline Refinance is designed to help veterans secure the lowest fixed interest rate available and is also known as.... Read More...
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