VLC Staff, Author at VeteransLoans.com Articles

blog gover how dti affects your mortgage

How Debt-to-Income (DTI) Impacts Your Mortgage

Have you ever heard someone say you should only spend 36% or less of your income on bills? The concept they are referring to is that of debt-to-income, or DTI. Debt-to-income divides the total of all monthly debt payments by your gross monthly income, giving you a percentage. As a lender, we focus on your projected DTI calculated with your new monthly mortgage payment, because it’s a representation of your ability to pay your bills. Borrowers with high DTIs often have more trouble making their payments.

Credit Score 101

Credit scores are an important benchmark of your financial health. It’s also one of the first things your lender will determine when you start the VA Home Loan process. At VeteransLoans.com, we’ll soft pull your credit score when we work to get you pre-qualified, and then we’ll hard pull your credit score to get you pre-approved. Not all lenders are the same, though. What is the difference between a hard pull and a soft pull, what do they mean, and will they affect your credit score? Let’s break it down.

What is the VA Appraisal?

The VA appraisal is an important step in the VA Home Loan process. Generally, your lender will order a VA appraisal once you’re under contract on a home. But what exactly is the VA appraisal, what does it look for, and what happens if it doesn’t go as well as you want?

17 Popular Home Styles on the Market Today

Understanding the distinct architectural home styles on the market today is a useful tool for home buyers. In addition to helping you understand the features or styles you want to find in your future home, knowing how to accurately describe them can help make sure that you and your realtor are on the same page when you’re house hunting. We’ve compiled a list of seventeen of the most common architectural home styles to help you better understand what you’re looking for- whether you’re looking to use a VA home loan or not.

Mental Health Resources for Veterans

Mental health is an important aspect in the lives of our Veterans and we want to do our part. We’ve put together a list of mental health resources for Veterans and caretakers in case they need help. Additionally, we’ll keep updating this list when we find more organizations. While we verify the legitimacy of each group or organization here, we do not officially endorse any, nor do we represent any organization either.