Home Purchase Archive

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Get the FAQs on VA Home Loans

house for sale sign

Why get a VA loan over other types? Simply put, a VA Home loan allows qualified buyers the opportunity to purchase a home with no down payment. Also, there are no monthly mortgage insurance premiums to pay, limitations on buyer's closing costs, and an appraisal that informs the buyer of the property value. For most loans on new houses, construction is inspected at appropriate stages and a one year warranty is required from the builder. VA al... more

Updated: VA Loan Limits for High-cost Counties

gray home

Updated for 2015: VA Loan Limits for High-cost Counties The VA loan guaranty program does not impose a maximum amount that an eligible veteran may borrow using a VA loan but limits the maximum guaranty amount to $417,000 for 2015. However, if you live in one of the following counties listed below, follow the data on the chart to determine the VA's maximum guaranty amount for a particular county. These limits apply to all loans closed January ... more

VA Loan Program Helps Clear the Path to Home Ownership

Couple closes deal on house

Successfully transitioning from the military to civilian life includes setting and maintaining goals. For many veterans, one of those goals is to own a house; a task not easily completed in the current economy. While many millennials are finding it difficult to save enough money to afford a house of their own, the Albuquerque Journal reports many veterans are using VA backed loans to purchase homes without damaging their finances. Veter... more

VA Loan Closing Costs: An Added Benefit

Housing finance options and information

Besides the advantage of requiring no down payment for qualified VA borrowers, there's also a distinct advantage for the borrower regarding closing costs. The veteran is limited to the types of closing costs that may be paid, helping the veteran save money at the closing table. But if there are costs associated with a VA mortgage and the veteran isn't allowed to pay for them, who does? The Types A common way to remember which costs a veteran... more

Top 3 VA Home Loan Tips

There are numerous advantages to having a VA mortgage. A VA mortgage loan can be guaranteed with no money down, in some cases up to $417,000. There is also no private mortgage insurance requirement with a VA guaranteed loan, which could offer you substantial savings on your monthly payment.  You can even use your VA Loan benefit to refinance an existing loan -- even if it is not a VA Loan. Be sure to ask for information about the interest rat... more

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