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 [...]

*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 [...]

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 [...]

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); } }, [...]

​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 = [...]

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 [...]

*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 can be an overwhelming experience. There’s so much to do! One thing you can check off your list is worrying about current VA mortgage rates. The Wendy Thompson Lending Team has your back! Some lenders lure you in with the promise of better VA loan rates and pull the rug out from under you at the last minute. You won’t [...]