Considering buying a home? Purchasing a home can be a complicated and tedious process. At VeteransLoans.com, we want to make that process as simple as possible by providing educational resources and excellent customer service every step of the way.
As you prepare to purchase a home and apply for a mortgage loan, it’s important to understand how your employment status and employment history can affect your mortgage loan eligibility. In this article, we break down the necessary employment requirements for home loan approval.
If you are a qualifying veteran, service member, or surviving spouse applying for a VA loan, you will need your DD214 in order to retrieve a Certificate of Eligibility (COE). A COE verifies that you do, in fact, qualify for a VA loan. Or, if you are using your remaining VA loan entitlement, your COE will inform you and your lender how much entitlement you have already used.
What is a Mortgage Rate Lock? A mortgage rate lock prevents the interest rate on your home loan from increasing or decreasing within a specified timeframe before closing, typically 30-60 days or more depending on the terms of the rate lock and the type of mortgage...
As tax season comes to a close and you anticipate receiving your tax return, you might already be making plans for how you want to use that extra cash! It’s no surprise that the end of tax season typically kicks off the busiest home-purchasing season of the year...
An underwater mortgage or upside-down mortgage is when the value of your property is less than the remaining mortgage you still owe on the property. Underwater mortgages most commonly occur during an economic downturn when the value of property rapidly declines. They...
How Many Times Can I Use My VA Loan Benefit? 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...