Home Purchase Archive

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Are You Eligible for a VA Home Loan?

Housing finance options and information

Military.com

See how easy it is to determine your eligibility! Use our free calculator today! (Opens a pop-up window) In order to obtain a VA home loan, you must first fill out VA Form 26-1880, the request for your Certificate of Eligibility. This certificate is issued only through the Veterans Administration, and is the first step towards applying for your loan. Veterans, active duty, guard or reserve, and military spouses potentially qualify for t... more

What Is a VA Guaranteed Home Loan?

Military.com

A VA-guaranteed loan is a loan made by private lenders (such as banks, savings & loans, or mortgage companies) to eligible veterans. If you want to purchase a home, condominium or manufactured home, the VA can guarantee up to $417,000 of the total loan -- much higher than you can get with most conventional home loans. Better yet, there is no need to worry about financing a down payment (the portion of the home purchase price which the buyer ... more

Pay Off Mortgage Early? Or Invest?

Mortgage woes

FiveCentNickel

Should you pay off your mortgage early? Or should you focus on investing with your spare cash? This is one of the most hotly debated topics in personal finance, with vocal proponents on both sides. Today, I thought I'd take a look at this issue from both angles and then share our approach with you. Why you should pay off your mortgage early One of the biggest advantages of paying off your mortgage early is peace of mind. Once you've paid it ... more

Benefits of a VA Loan in Today's Market

Purchasing a home with VA Loan

Ethan Ewing

Contrary to what many Americans think, it's a very good time for servicemembers to refinance or purchase a home. With mortgage rates continuing to hover at all-time lows and many homes selling at significantly discounted prices, it's possible for those with good credit and income to purchase a great home.   One of the unique benefits afforded to military personnel is access to the Veterans Affairs Home Mortgage Loan program. This program offe... more

Starting the Loan Application Process

Military.com

Now that you've determined that you are eligible (if you aren't sure, please check your VA loan eligibility), you can begin the loan application process. This process involves six important steps: finding a VA-approved lender, pre-qualifying for a loan, selecting your home, drawing up the purchase contract, getting the property appraised by the VA, and finalizing the loan. To obtain a VA loan, it is important to note that the law requires tha... more

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