As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.”
They provide stable loan features for consumers and improve legal protection for lenders who follow the guidelines.
These guidelines require lenders to assess each borrower’s ability … [Read More...]
Can I Use My VA Eligibility More Than Once?
As the video explains - under the right conditions, yes.
Eligible veterans may qualify for another VA loan, if you completed payments your old VA loan or your prior VA loan was ‘paid in full’ AND you no longer own the property.
In either of these cases, you will need copies of the paperwork such as a “paid-in-full” bank letter or copy of the … [Read More...]
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 an appeal with the help of the local VA … [Read More...]
Brentwood is a medium-sized city located in Williamson County, Tennessee, with a population of right at 41,000 residents and 10 neighborhoods. Brentwood is the 17th largest community in Tennessee and home prices are not only among the most expensive in Tennessee, but Brentwood real estate also consistently ranks among the most expensive in America!
Brentwood is a decidedly white collar city, with more than 94 percent of the working residents employed in … [Read More...]
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 has records on file.
The VA also maintains a hotline for … [Read More...]
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 of home equity to pay off debt, fund school or make home … [Read More...]
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 cannot be restored and they can’t obtain another VA loan until their ex-spouse … [Read More...]
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