VLC Staff, Author at VeteransLoans.com Articles

Common Mistake First-Time Homebuyers Keep Making

Purchasing your first home is an exciting milestone, but for a first-time homebuyer, the process can feel overwhelming—especially when it comes to securing a mortgage. A recent Newsweek article spotlighted a critical mistake many first-time homebuyers make, as explained by Laura Judkins, a mortgage expert at Mid-Continent Funding, Inc. The pitfall? Failing to “season” your bank account before applying for a loan. At VeteransLoans.com, the DBA of Mid-Continent Funding, we’re here to unpack this concept and help first-time homebuyers—especially veterans—navigate the mortgage maze successfully.

VA Loan Limits and VA Entitlement for 2023

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.

VA Loan Benefit For Eligible Surviving Spouses

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.”

How Your Child Can Affect Your VA Loan

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.

Understanding the Closing Disclosure

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.