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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 |VA|Comments Off on Refinance VA Loan to Conventional: How it Works and When it Makes Sense

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 |VA|Comments Off on Is a Conventional Loan Better Than a VA Loan?

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 paying it altogether. Keep reading to [...]

2021-03-16T22:09:17+00:00By |VA|Comments Off on VA Loan Closing Costs: How to Calculate the Funding Fee in 2021

Best Loan Rates for VA Loans from $200,000 to $500,000

Best Loan Rates for VA Loans from $200,000 to $500,000 Veterans of our military who served our country deserve nothing but the best. And that includes low mortgage interest rates.  Fortunately, the Wendy Thompson Lending Team is a top-rated VA lender. We can get you the most competitive rates you’ll find anywhere. We know what it takes to secure the best rates and terms for your VA home 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); } else if (window.attachEvent){ window.attachEvent("message", function(event) { if( event.data.length >= 22) [...]

2021-03-04T16:37:17+00:00By |VA|Comments Off on Best Loan Rates for VA Loans from $200,000 to $500,000

How Much is the VA Funding Fee and Do You Have to Pay It?

*Please note that effective April 3, 2020, we are no longer able to accept loans from applicants with a credit score below 640.  Please visit our friends at My Credit Guy for help improving your credit score.A VA loan is an excellent option to buy a home. It lets you get into a house without making a down payment. There’s one catch.Most borrowers who take out a VA loan must pay a VA funding fee.So now you’re wondering:How much is it and do I have to pay?There’s good news: The fee is a one-time cost.But it gets better.You might qualify for a [...]

2021-03-04T16:41:55+00:00By |VA|Comments Off on How Much is the VA Funding Fee and Do You Have to Pay It?

USAA vs Navy Federal for VA Loans: Costs, Service, Alternatives

Getting a VA loan is a fantastic option for military members and their families. Picking a lender to work with is a crucial step. In fact, it’s the most important decision you’ll make. Two of the best options to consider are USAA vs Navy Federal for VA loans. Is one right for you? Here at the Wendy Thompson Lending Team, we know what it takes to get you into a new home. That’s why we’re looking at both options to give you a rundown of the eligibility requirements, costs, service, and alternatives. No tricks. No empty promises. We’re only interested [...]

2021-03-04T16:42:49+00:00By |VA|Comments Off on USAA vs Navy Federal for VA Loans: Costs, Service, Alternatives

Best VA Interest Rate Reduction Refinance Loans (IRRRL)

Let’s say you already have a VA home loan, but you want to lower your monthly mortgage payment or shorten the repayment period.But you don’t want to miss out on any of the benefits of having a VA loan.What can you do?The answer is simple.What you need is a VA streamline refinance.And it’s possible with a VA Interest Rate Reduction Refinance Loan.Whew. That’s a mouthful! So we’ll call it a VA IRRRL (pronounced “Earl”) instead. [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); } else if (window.attachEvent){ window.attachEvent("message", [...]

2021-03-31T23:03:53+00:00By |VA|Comments Off on Best VA Interest Rate Reduction Refinance Loans (IRRRL)

VA Loan Credit Score Requirements

Even though VA loan eligibility is more lenient than other mortgage programs, your credit score is still a big deal.How do I know?Because one of the most common questions we get is:What’s the minimum credit score required for a VA loan? But here’s some good news: Meeting the credit score requirements is easier than you might think. Here’s what you need to know about how your credit history can affect your VA loan, and what to do if you’ve had a bankruptcy or foreclosure. [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 = [...]

2021-03-04T16:53:20+00:00By |VA|Comments Off on VA Loan Credit Score Requirements

How To Obtain Your VA Loan Certificate of Eligibility (COE)

VA loans are an excellent option for Vets (and surviving spouses) who want to buy a home. The good news is that you can shop for a VA lender without having a VA loan certificate in hand.But if you’re serious about buying a home?You’ll need a VA home loan Certificate of Eligibility.Luckily, it isn’t rocket science.It’s pretty easy to get if you know what you’re doing. And one thing is for sure.Here at the Wendy Thompson Lending Team, we know what we’re doing.We’re in the business of helping Vets make their dream of homeownership come true. Here’s what you need [...]

2021-03-04T16:54:16+00:00By |VA|Comments Off on How To Obtain Your VA Loan Certificate of Eligibility (COE)

Best VA Loan Rates for 600 to 630 Credit Score (Plus Approval Tips)

*Please note that effective April 3, 2020, we are no longer able to accept loans from applicants with a credit score below 640.  Please visit our friends at My Credit Guy for help improving your credit score.Buying a home is stressful enough, let alone trying to find a mortgage when your credit score is 630 or less.To make matters worse, most VA lenders won't give you ballpark rates!(They all want your personal info)Not here!In this article, you can get sample VA rates and monthly payments based on your credit score from 600 to 605, 610, 620, 625, and 630.We'll also discuss practical tips [...]

2021-03-01T06:53:23+00:00By |VA|Comments Off on Best VA Loan Rates for 600 to 630 Credit Score (Plus Approval Tips)