VLC Staff, Author at VeteransLoans.com Articles

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 term “house poor” describes a situation where a homeowner spends such a large portion of their income on housing that they have little to no money left for savings, emergencies, or other essential expenses. At VeteransLoans.com, we believe that every veteran and military family deserves to achieve the dream of homeownership without sacrificing their financial well-being. This guide will walk you through the key strategies and insights you need to avoid becoming house poor, ensuring your home is a source of joy and security, not a constant financial burden. We understand the unique challenges faced by service members and are here to help you navigate the complexities of the housing market with confidence.

How Gift Funds Work with VA Loans

The journey to homeownership is an exciting one, but it comes with many questions, especially regarding finances. For Veterans, active-duty service members, and eligible surviving spouses, the VA loan is an unparalleled benefit, offering a path to homeownership with no down payment requirement and competitive interest rates. While the VA loan’s no-down payment feature is a significant advantage, you may still need funds to cover closing costs or to make an optional down payment to reduce your VA Funding Fee. This is where gift funds from family or friends can be a game-changer.

Seizing the Multi-Unit Opportunity – How Veterans Can Build Wealth with a VA Loan

The U.S. housing market continues to evolve, and with those changes come unique opportunities for those who are prepared. We’re currently seeing a notable surge in multi-family property transactions, and for a good reason. Many savvy buyers—including a growing number of Veterans—are recognizing that multi-family homes are not just a place to live, but a powerful vehicle for building wealth and achieving financial independence.