Can I Use My VA Eligibility More Than Once?

VA Eligibility

Is it Possible to Use My VA Eligibility Multiple Times? Yes, you can provide that certain conditions are met. You can receive a VA loan if you have been in military service for a minimum of 24 continuous months. You can be active or discharged but you cannot have received a dishonorable discharge. Medicare is […]

What Are VA Home Loans?

what are va home loans

What Are VA Loans? As the video says, the name is misleading – they’re not loans FROM the VA. The VA – short for ‘US Department of Veterans Affairs’ – is the Federal military veteran benefit system. The VA administers benefits and services for Servicemembers, Veterans their dependents and survivors. Programs related to home loans […]

What Are The Major Types Of VA Loans?

VA loans, what are VA loans, VA loan program

What Are The Major Types Of VA Loans? Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at competitive interest rates with little to no down payment and little or no private mortgage insurance. 2) Cash Out Refinance Loans which enable taking cash out […]

What Is A Certificate of Eligibility, or COE?

Certificate of Eligibility, what is VA COE

What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most lenders have access to the system and can verify eligibility IF the VA […]

Who Is Exempt From The VA Funding Fee?

VA Funding Fee

Who is NOT required to pay the VA funding fee? This video could save some veterans thousands. ‘VA loan applicants pay a funding fee – as of 2014, 2.15% of the total loan amount – which can be thousands of dollars.’Some veterans and spouses are eligible for exemption. Broadly speaking, veterans who received disability benefits […]

How Does Divorce Affect VA Loan Re-Eligibility?

How Does Divorce Affect VA Loan Re-Eligibility? Unlimited Mortgage Lending

How Does Divorce Affect VA Loan Re-Eligibility? This video highlights the rules. If a veteran with a spouse purchases a home with a VA loan they are not eligible for another VA loan until that loan is paid in full. If the veteran’s spouse is awarded the property in a divorce settlement the veteran’s entitlement […]

What Is A Construction Perm Loan?

What Are Constuction Perm Loans_

Like the man says, a’blueprint is not a house – so conventional home mortgages don’t apply to construction projects. However, ‘most blueprints become houses ‘- so loans that cover construction, then convert to permanent mortgages or ‘construction perm’ loans are fairly common. The construction loan phase is frequently a variable-rate loan, with scheduled loan ‘draws’ […]

Does My Military Discharge Affect VA Loan Eligibility?

Does My Military Discharge Affect VA Loan Eligibility? Unlimited Mortgage Lending

Does My Military Discharge Affect VA Loan Eligibility? As you’ll see in this video, discharge conditions can affect a veteran’s eligibility for a VA loan. Veterans separated with a dishonorable discharge may not be eligible. If your discharge state is ‘other than honorable’ or was changed, modified or corrected you may be able to pursue […]

Can I Buy A Rental Property With A VA Loan?

Can I Buy A Rental Property With A VA Loan? Unlimited Mortgage Lending

Can I Buy A Rental Property With A VA Loan? As the video says – NO. Buying rental property may be a great financial strategy but VA mortgages aren’t intended for this purpose. The VA loan program started after World War II to help eligible veterans secure homes and that is still the primary aim. […]

What Is An Escrow Account? Do I Need One?

What Is An Escrow Account? Do I Need One? Unlimited Mortgage Lending

As we show you in this video, an escrow account is an account, established by your lender, to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner’s insurance mortgage insurance (if applicable), and property taxes. Escrow accounts are a good idea because they assure money will always be available […]