If you’re considering purchasing a home using a VA loan this year, you are probably wondering what the VA loan limits for 2023 are. Here is what you need to know about VA loan limits in 2023 and how this will affect your home purchase.
The VA loan was designed to make homeownership possible for qualifying Veterans, Servicemembers, and eligible surviving spouses. In this article, we want to clarify what the VA means by “eligible surviving spouses.”
Did you know your child can affect your VA loan? The VA loan has a few requirements specified by the U.S. Department of Veterans Affairs regarding childcare, child support, and residual income that are unique to this type of loan. If you are considering applying for a VA loan and have children, you will want to take these requirements into account.
At some point during the mortgage loan application process, shortly before closing on your home, you will receive a form called a Closing Disclosure from your mortgage lender. This form will usually arrive any time after the first round of underwriting and no later than three days before you are scheduled to close on your mortgage loan. For first-time homebuyers, the Closing Disclosure might be confusing or tedious. It can be tempting to skim the document or maybe not look at it at all before signing it and returning it to your lender.
The housing market in the United States is still overwhelmingly a seller’s market, but there are cities in the United States where the housing market is starting to turn to buyers’ advantage. Realtor.com recently came out with a ranking system to determine the top ten cities to purchase a home out of the 250 largest cities in the United States.