VLC Staff, Author at VeteransLoans.com Articles

Why Fall Maintenance is Crucial for Protecting Your Home Equity

As the crisp autumn air moves in, the change of seasons signals more than just pumpkin spice and football—it’s a critical time for homeowners. For Veterans, active-duty service members, and military families, your home is more than a place to live; it’s a vital, hard-earned asset. Taking proactive steps in the fall to prepare your property for the harsh realities of winter isn’t just about comfort; it’s about protecting your investment, maximizing energy efficiency, and preserving the equity you’ve built.

What Happens When You Walk Away From a Home Purchase Contract?

Buying a home is one of the biggest financial decisions you’ll ever make. The process is exciting, but it’s also full of legal commitments. Once you’ve had an offer accepted and signed a purchase agreement, you’ve entered a legally binding contract. While life can be unpredictable and circumstances can change, deciding to walk away from that contract can have significant financial and legal consequences. This isn’t a simple matter of changing your mind—it’s a potential breach of contract with real repercussions.

Changing Jobs Before Closing Your VA Loan

When you apply for a home loan, including a VA loan, the lender’s primary concern is your ability to repay the mortgage. Your employment history and income are the two most critical factors they review. They look for stability and continuity to feel confident that you’ll have a steady income for years to come.

Buying Your Home Without Becoming “House Poor”

The phrase “house poor” goes beyond simply having a large mortgage payment. It encompasses the total cost of homeownership, which includes a myriad of expenses that can add up quickly. A good starting point for assessing this is the 28/36 rule, a common guideline used by financial experts.

How Gift Funds Work with VA Loans

At VeteransLoans.com, we specialize in helping our clients navigate every aspect of the VA loan process. We know that understanding the rules around gifted money is a critical step in a smooth and successful closing. This comprehensive guide will walk you through everything you need to know about using gift funds with a VA loan, from who can give them to how to ensure they are properly documented for underwriting.