If a VA loan appraisal comes in lower than the agreed purchase price, you still have several options. You can renegotiate with the seller, pay the difference out of pocket, request a Reconsideration of Value (ROV), or walk away using your VA escape clause. The best...
If you lose your job during the VA loan process, your loan approval may be paused or denied until you can show stable income again. Lenders must verify your ability to repay before closing, so a job loss is a major change that typically requires re-evaluation or delay...
VA loan occupancy requirements mean you must intend to use the home as your primary residence. In most cases, you’re expected to move in within a reasonable timeframe after closing and live in the property. This requirement helps ensure the VA home loan benefit is...
Residual income is the amount of money you have left over each month after paying major expenses like housing, debts, and taxes. For VA home loans, it’s a key guideline used to help ensure you can comfortably afford your mortgage and everyday living costs. When it...
When you’re comparing VA loan options, terms like par rate, buying down the rate, and discount points can feel confusing at first. They all relate to how your interest rate is structured—and how much you pay upfront versus over time. Understanding how these pieces fit...
VA termite inspections—also called wood-destroying insect (WDI) inspections—are often required during the VA home loan process, depending on the property location. These inspections help identify active infestations or damage from termites and other pests that could...