A VA Loan is a mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs. Here we look at how VA loans work and what most borrowers don’t know about the program.
Your VA disability rating by itself has no negative affect on VA loan eligibility. In fact, your rating may provide cost-saving benefits and additional income when considering a VA loan, even if you have bad credit.
Private mortgage insurance (PMI) is typically required for conventional financing. Even FHA has their own version of PMI. Let’s take a look at how VA borrowers avoid this additional cost.
As with any mortgage option, VA loans have pros and cons that you should be aware of before making a final decision. Let's take a closer look.
Using your VA loan benefits to purchase a home is exciting, but if you are new to the process you may need some pointers along the way.
VA Loan limits act more as a guide more than a restriction on the amount of money you can borrow. Keep reading to get a better understanding on how VA Loan limits work.