VA Loan Eligibility: Credit Score, Loan Amount & Military Type

Dealing with the VA and all of their processes can be frustrating, and that when you add finding a home, and getting the best mortgage to that list, things can get out of hand very fast. But here's the thing: Figuring out your VA loan eligibility doesn't have to be a complicated process and once you figure it out, all VA lenders will follow the same guidelines. In today's post I am going to go over what requirements you have to meet to become eligible for your VA loan. I will also discuss how to apply for your certificate of [...]

2021-06-16T16:14:12+00:00By Wendy Thompson Team|VA|Comments Off

VA Home Loan Qualifications And Options: Credit Score – VA Loan Limits – VA Loan Options

Many active duty service members and veterans know that there is a VA program available to help finance their home loan with a zero-down payment. However, VA loan eligibility can be confusing and even intimidating to some. Multiple factors will determine if you will qualify for a VA home loan and we hope to remove the confusion of what is required for you to qualify for your zero-down home mortgage. We will discuss VA eligibility in regard to your credit score, VA loan limits and what VA loan types are available to you in this article. [tcb-script]if (window.addEventListener){ window.addEventListener("message", function(event) { if(event.data.length [...]

2021-05-29T02:26:09+00:00By Wendy Thompson Team|VA|Comments Off

VA Mortgage Calculator Guide: How To Use It To Save You Money!
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VA Mortgage Calculator Guide: How To Use It To Save You Money!

VA

VA Mortgage Calculator Guide: How To Use It To Save You Money!

VA loans are one of the best options to finance a home. But, when you’re house shopping, figuring out how much you can borrow is a crucial first step. A VA loan mortgage calculator can help you answer your most pressing question, “How much house can I afford?” But it can do so much more than that, too. Imagine finally understanding: The long-term impact of your interest rate How to afford “more” house How a larger down payment can impact your loan The true cost of property taxes and homeowners insuranc That’s right… A mortgage calculator for a VA loan [...]

2021-06-16T21:22:23+00:00By Wendy Thompson Team|VA|Comments Off

Refinance VA Loan to Conventional: How it Works and When it Makes Sense
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Refinance VA Loan to Conventional: How it Works and When it Makes Sense

VA

Refinance VA Loan to Conventional: How it Works and When it Makes Sense

VA loans are one of the best financial benefits available to veterans. They have many benefits, including no down payment, flexible underwriting guidelines and no mortgage insurance. Millions of veterans use the program. But sometimes, a conventional loan makes more sense for veteran borrowers. If you’ve already got a VA loan, you may want to switch to a conventional loan.How does that work? And when does it make sense?Great questions.This guide will walk you through how to refinance a VA loan to a conventional loan and when it makes sense to do it. [tcb-script]if (window.addEventListener){ window.addEventListener("message", function(event) { if(event.data.length >= 22) { [...]

2021-03-31T00:51:19+00:00By Wendy Thompson Team|VA|Comments Off

Conventional Rehab Loan: What You Need to Know
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Conventional Rehab Loan: What You Need to Know

Loan, Mortgage

Conventional Rehab Loan: What You Need to Know

If you’re wondering can I buy a fixer upper with a conventional loan, don’t worry. Buying a house that needs some love is possible with a conventional rehab loan. You won’t need tens of thousands of dollars in cash to fix the home up. You can finance the home, repairs and upgrades all in one. Sound too good to be true? Here’s what you need to know about a conventional rehab loan to know if it’s right for you. [tcb-script]if (window.addEventListener){ window.addEventListener("message", function(event) { if(event.data.length >= 22) { if( event.data.substr(0, 22) == "__MM-LOCATION.REDIRECT") location = event.data.substr(22); } }, false); } [...]

2021-03-25T22:28:14+00:00By Wendy Thompson Team|Loan, Mortgage|Comments Off

Is a Conventional Loan Better Than a VA Loan?
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Is a Conventional Loan Better Than a VA Loan?

VA

Is a Conventional Loan Better Than a VA Loan?

Deciding between a VA and conventional loan when you’re a veteran seems like a no-brainer, right? No money down and no mortgage insurance with a VA loan sounds like the best deal. But wait… The decision might not be so easy. While a VA loan is good, sometimes a conventional loan makes more sense for veterans. To help you decide, we’ve got the guide right here. Let’s answer the question of Is a conventional loan better than a VA loan? [tcb-script]if (window.addEventListener){ window.addEventListener("message", function(event) { if(event.data.length >= 22) { if( event.data.substr(0, 22) == "__MM-LOCATION.REDIRECT") location = event.data.substr(22); } }, false); [...]

2021-03-25T22:25:52+00:00By Wendy Thompson Team|VA|Comments Off

VA Loan Closing Costs: How to Calculate the Funding Fee in 2021

If you’re looking for a home, you’re in for a treat. VA loans have some of the best terms available, including the ability to buy a house with no down payment. But you still must consider VA loan closing costs. Some borrowers worry about the VA funding fee, but it’s not as bad as you think. And the VA loan experts at the Wendy Thompson Lending Team can help. We’re going to tell you what the funding fee is and how to calculate it. But that’s not all… There are ways to lower the funding fee or get out of [...]

2021-06-16T16:15:42+00:00By Wendy Thompson Team|VA|Comments Off

Best Mortgage Companies In Tennessee
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Best Mortgage Companies In Tennessee

Mortgage

Best Mortgage Companies In Tennessee

Shopping for a mortgage is a big deal. It’s almost as big as shopping for a home itself. After all, your mortgage is something you’ll have for the next 15 to 30 years, so it’ll play a tremendous role in your financial life. What if you choose a difficult lender?You could have a nightmare of a time dealing with loan servicing. You could also pay more than necessary in interest or loan fees. Your home could become a bad investment. And you don’t want that!Your home should be one of the best investments of your life.Fortunately, there are many great mortgage companies [...]

2021-03-16T22:21:37+00:00By Wendy Thompson Team|Mortgage|Comments Off

FHA Loan Oregon Requirements: Best Rates & Options (2021)
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FHA Loan Oregon Requirements: Best Rates & Options (2021)

FHA

FHA Loan Oregon Requirements: Best Rates & Options (2021)

Are you in the market to buy a house? An FHA loan in Oregon can be an excellent option. FHA loans not only have more flexible credit requirements, but they also come with a lower down payment option. There’s one downside. FHA loans have caps on how much you can borrow. And the limits vary by county. Throughout most of the state’s 36 counties, FHA limits in Oregon are $331,760. But in a few places – namely Portland and Hood River – your borrowing power is much higher. Knowing what to expect with an FHA loan is crucial to your [...]

2021-06-16T16:10:30+00:00By Wendy Thompson Team|FHA|Comments Off

FHA Loan Florida Requirements: Best Rates & Options (2021)
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FHA Loan Florida Requirements: Best Rates & Options (2021)

FHA

FHA Loan Florida Requirements: Best Rates & Options (2021)

FHA loans limit how much you can borrow. The limits can vary by county, and the Federal Housing Administration (FHA) updates those limits every year. That means FHA loans in Florida for 2020 have different borrowing limits than they did in 2019. The standard cap for a single-family home is $331,760. But Florida limits work a little differently. Because borrowing caps are based on 115% of median home prices, Florida’s limits are below the standard in some areas. That’s why it pays to go with a lender familiar with FHA guidelines. Here at the Wendy Thompson Lending Team, we’ve got [...]

2021-06-16T16:11:57+00:00By Wendy Thompson Team|FHA|Comments Off