VA Loans and Mortgages - Page 2

Va Home Loan Limits

2024 VA Loan Limits by County

Updated: December 7, 2023

A VA loan limit is a cap on how much a homebuyer can borrow without needing a down payment. However, thanks to the Blue Water Navy Vietnam Veterans Act of 2019, VA loan limits do not apply to eligible VA borrowers with full VA loan entitlement. VA loan limits only apply to those with partial […]

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What Can (And Can’t) You Buy With a VA Home Loan?

What Can (And Can’t) You Buy with a VA Home Loan?

Updated: May 2, 2023

The VA loan is a powerful tool service members and veterans can use to become homeowners. However, everyone has a different idea of what homeownership looks like, whether that’s a townhome or several acres of land. Let’s talk about what home can look like when you use a VA loan. How Does the VA Loan […]

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What sellers should know about VA loans

What Sellers Should Know About VA Loans

Updated: May 1, 2023

The VA loan is an outstanding option for military and veteran home buyers. But are there any benefits–or drawbacks–for home sellers? Here’s what sellers should know about VA home loans. VA Loan Overview The Department of Veterans Affairs administers the VA loan program, but VA-approved lenders (e.g., banks, credit unions, and mortgage companies) originate the […]

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How to Use the VA Loan After a Foreclosure

How to Use the VA Loan After a Foreclosure

Updated: May 1, 2023

Due to unfortunate circumstances, veterans often ask how they can use the VA loan after a foreclosure. In other words, when a home financed with a VA loan is foreclosed upon, can veterans still use their VA loan benefits?  They can, but certain restrictions exist. In this article, we’ll explain how veterans can use their […]

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How Does the VA Loan One-time Restoration of Entitlement Work?

How Does the VA Loan One-time Restoration of Entitlement Work?

Updated: April 27, 2023

Due to the VA loan’s outstanding terms, veterans and military members often ask how the VA loan’s one-time restoration of entitlement works. In other words, how can eligible borrowers use this one-time restoration to access their VA loan benefits again? In this article, we’ll explain how to use this one-time restoration of entitlement, including: VA […]

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VA Loan Inspection Requirements

VA Loan Inspection Requirements

Updated: April 27, 2023

VA home loans, like most mortgage-loan transactions involving a new purchase loan, require an appraisal. The VA appraisal process is sometimes referred to as an inspection, which often misleads homebuyers. Here’s a look at the differences between a home inspection and a VA appraisal. What Is a VA Home Inspection? Borrower-arranged VA inspections help home […]

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VA Home Loan Occupancy Requirements

VA Loan Occupancy Requirements

Updated: December 24, 2022

The VA home loan is a no-money-down mortgage exclusively for military service members and veterans who have fulfilled a minimum service requirement. Certain surviving spouses of military members who died in the line of duty are also eligible for a VA mortgage. VA home loans are a government-backed mortgage program. Government backing allows lenders to […]

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How do VA borrowers get their names taken off a VA mortgage loan?

Removing A Borrower From A VA Loan

Updated: December 24, 2022

Multiple borrowers can apply for a VA loan together. But, co-borrowers may have to remove one of their names if divorce or other circumstances affect the arrangement. The VA Lender’s Handbook, VA Pamphlet 26-7, outlines the rules of the VA loan program, including those for removing a borrower’s name from a loan. Keep in mind, […]

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How to buy a condo with a VA loan

How To Buy A Condo With A VA Loan

Updated: January 30, 2023

Military members and veterans can use VA home loan benefits to purchase various properties, including condo units. However, the VA home loan process for condominium purchases is a little different than financing other types of eligible properties using a VA mortgage. Here’s what you need to know, according to the VA’s Lender Handbook, VA Pamphlet […]

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VA Loan Certificate of Eligibility

VA Loan Certificate of Eligibility (COE)

Updated: December 24, 2022

A VA Loan Certificate of Eligibility (COE) is an essential document in the VA lending process. Your VA COE enables you to use your VA Home Loan benefit to buy, build or refinance a home. Eligible veterans who have met the minimum time-in-service requirements to qualify for a VA loan can apply for their COE […]

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