Category: FAQs

Some veterans are interested in using their VA home loan benefit to purchase a property to rent out to others. But, when the veteran borrower signs the papers for that property, they are required to certify that property as their primary residence. Don’t worry though, there is the option where a veteran can purchase a...

We get this question frequently from first time home buyers, what is earnest money? Earnest money is an important part of the home buying process. It is a money deposit that shows the sellers you are a committed buyer to the sale. Usually you put a deposit down of 1%-5% of the home purchase price,...

If you are using your VA home loan for a purchase transaction you cannot include the closing costs into the loan. Your options are, the seller is allowed to pay all of the closing costs, up to 4% of the home price. If that is not the case then the veteran has to pay all...

The VA home loan is always the best loan for a veteran. On a VA home loan you can have veteran and spouse (legally married) on the loan. Or you can have veteran and veteran on the loan. If you are not married and are looking to purchase a home with someone else you are...

If you have filed for bankruptcy in the past, you can qualify for a VA home loan, but there is a waiting period before you can do so. If you have filed for a chapter 7 bankruptcy, the waiting period is 2 years from the discharge date before you can obtain VA loan financing. For...

There are several amazing benefits of the VA home loan, one of them being the no prepayment penalty, which can save the veteran a lot of money. Prepayments occur when the borrower pays all or some of the mortgage debt off early. With a VA loan, borrowers are “free” to pay more than their minimum...

The VA home loan is a great benefit for a veteran and the VA wants to ensure that the veteran and their family is moving into a safe, structurally secured and sanitary home. Here are the 4 rules to purchasing a manufactured home with a VA home loan: The manufactured home must be anchored to...

The Department of Veteran Affairs has a list of minimum property requirements, MPR’s, that qualifies a house for a VA home loan. These requirements are to ensure that the veteran and their family is buying a safe, structurally sound and sanitary home. The MPR’s are assessed during the VA appraisal, which the appraiser is looking...

A VA home loan is a great loan for any veteran, it is an earned benefit that we recommend all veterans to use. However, if you are looking to purchase a vacation home, the VA home loan will not be eligible to use because you can only use your earned benefit for a primary residence....

To be eligible for the VA home loan benefit, it falls into two categories: wartime and peacetime. The veteran must satisfy one of the requirements set by the Department of Veteran Affairs in order to use the VA home loan benefit. VA requirements states that a veteran that served during wartime must have been on...