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:
While the VA Home Loan provides some of the best financial assistance to veterans, there are so many other private and public benefits available to those who have served. From health care to additional financial help, we have outlined some of the best programs available below:
We have blogged at length about the many benefits of the VA Home Loan and how these government-backed mortgages are considered the most flexible products available. However, they are also a very specific product with unique guidelines. We have outlined some of the potential obstacles to avoid when purchasing a home with the VA Home Loan benefit.
While many veterans take advantage of their VA Home Loan benefit, there are some common misconceptions as it compares to other loan products. We’ve broken down the top three below:
Veterans and active military families eligible for a VA Home Loan have the opportunity to use the benefit more than once. In fact, those who qualify can use it several times. The only limitation set by the VA is that the loan can only be used on one home at a time.
Recently, the VA modified its law regarding surviving spouses and their eligibly to utilize the VA home loan benefit. A widow may now qualify if the veteran was rated completely disabled and eligible for compensation prior to death of any cause. The veteran’s death no longer has to be duty-related which allows for many more surviving spouses to utilize this benefit.
Home Repairs with a VA Loan
Five Questions to Ask Before Hiring a Home Inspector
Common Errors in Credit Reports
Is It Still a Good Time To Refinance?
Signs That You are Ready to Own a Home