One of the advantages of homeownership is the equity in your home. The equity you build in your home functions as a forced savings account that you can eventually tap into. Maybe you’re ready to take advantage of your home’s equity. There are a number of ways you can...
A VA cash-out refinance loan is very similar to a conventional cash-out refinance loan. A VA cash-out refinance is a VA-backed loan that replaces your original home loan with a larger VA-backed loan based on the equity your home has collected over the years. Equity is...
The VA loan benefit is a lifetime guarantee. This means that for qualifying Veterans, servicemembers, and surviving spouses, there is no limit on how many times you can use the VA loan benefit. However, there are other restrictions in terms of how you can use your...
A VA-backed Interest Rate Reduction Refinance Loan (IRRRL) is a refinance loan for qualifying Veterans and Service Members who already have a VA-backed home loan and are interested in reducing their monthly mortgage payments or making their payments more stable....
The VA funding fee is a one-time payment that can be paid upfront by the borrower upon purchasing their home with a VA-backed loan. This fee can also be rolled into the mortgage. This funding fee applies to both VA home purchases and VA refinances. This funding fee...
A VA Certificate of Eligibility from the Department of Veterans Affairs is necessary to be approved for a VA home loan. A COE essentially demonstrates to your lender that you meet all of the VA’s qualifications based on your service history and duty status. A...