Veterans Day is about two weeks away. November 11th is a day to honor those who have served and those who continue to sacrifice for our country. Keep reading for ideas about how to honor veterans, both in your community and elsewhere, this year.
Operation Welcome Home is our program to help veterans achieve their goal of home ownership. With the VA home loan benefit, there are several nuances that are integral for a successful home purchase transaction. We want veteran borrowers to have the peace of mind that their realtor has knowledge of the VA loan process, and is always working in their best interest.
We match our veteran borrower with an Operation Welcome Home partner VA specialized realtor in their area. We maintain an up-to-date network of VA specialized real estate agents around the country. This helps us ensure that our veteran borrowers receive first-class benefits.
All you have to do to begin this process is:
Having a real estate agent with the knowledge and expertise in the VA home loan process is a huge advantage for our veteran borrowers. Having a veteran-friendly agent in your corner makes the homebuying journey less stressful and saves you time and money, all at no cost to you. Additionally, by using one of our selected agents, borrowers may qualify for a cash back bonus after closing!
Let us help you buy the home of your dreams! If you would like to learn more about our Operation Welcome Home program, please visit our website here.
Being self-employed offers many freedoms a typical office job does not. There’s more flexibility, and being in control of your own schedule can be great for work/life balance. However, self-employment can also come with income inconsistencies which could make getting a mortgage more challenging. Most self-employed applicants will need two years of tax returns and other important documents to verify their income when applying for a VA loan. We’ve outlined a few key points to consider if you fall under the self-employed category.
– Borrowers who own their own business or at least 25% of a partnered business.
– Freelance and contract workers whose income is solely documents with a 1099-MISC form. If you are a retiree or disabled veteran and document your income with a Form 1099, most lenders typically do not view you as self-employed.
Self-employment situations can vary, but most lenders will assess the following income documents to determine your ability to repay a loan:
– Full individual tax returns for two years
– Full income tax returns for two years
– Year-to-date profit and loss statements
– Business balance sheets
– Information on stock-holders and partners (if applicable)
Should you have a side business in addition to a salaried position, and you want that income to be considered by a lender, you should include the same two-year history from tax returns and Form 1099s.
Since each self-employed scenario is so unique, it’s important to work with an experienced VA Loan Specialist. They will help make sure you have the correct income documentation prepared to submit with your loan application.
We are proud to partner with Soldier On, a private, nonprofit organization committed to ending veteran homelessness. Their goal is to provide formerly homeless veterans with permanent, supportive, sustainable housing. Read on to learn more about this incredible organization, and what we are doing to partner with them: Read More
Having a good understanding of your credit will help you make a more informed decision when it comes time to purchasing a home. Many people struggle with knowing exactly what their credit score means, and how they can work to improve it. We have answered some of the most important questions to help you have a better understanding of what your credit score means.
When purchasing a property with a VA Home Loan, it’s important to have an understanding of the potential repair requirements that may need to be completed. The VA wants to be sure that the investment they make in your loan is sound, and that you, the buyer, will be protected from costly repairs down the road.
While an inspection is optional, it can be an important part of the home buying process, especially when using a VA Home Loan. Oftentimes, buyers want an in-depth look at any potential problems a property may have, so they get an inspection prior to the lender ordering a VA appraisal. Before hiring a home inspector, here are five questions you should ask:
The federal government entitles you to access your credit report each year. This provides you the opportunity to see where you stand financially as a potential homeowner. But did you know that your credit report could have errors in it? Here are some inaccuracies to look out for that could affect not only your credit score, but how lenders and creditors view your financial standing:
Overall refinance activity has progressively slowed as many borrowers have already taken advantage of historically low rates. However, many borrowers can still save money monthly by consolidating their high interest student loan or credit card debt into a lower interest mortgage.
The VA Home Loan is out there, waiting for you to take advantage of all the benefits it has to offer. There’s only one problem; you aren’t sure you are ready to own a home. Sure you have thoughts of obtaining that part of the American Dream, but you are worried that you may not be able to afford it, or you aren’t confident enough to move forward. Or maybe you are sick of dealing with a lazy landlord, or tired of finding your roommate’s socks in your laundry! Here are some signs to help you know if you are ready to buy a home:
How to Honor Vets this Veterans Day
Operation Welcome Home
VA Loans for the Self-Employed
Military Direct Mortgage Partnership Announcement: SOLDIER ON
Understanding Your Credit