Mortgages for All
It is important to understand the role of the VA in the VA loan process. The VA does not set a minimum credit score requirement, but instructs lenders to make sound assessments. The role of the VA is to oversee the program and guarantee a portion of … [Continue reading] about What is the credit score needed for a VA loan?
If the buyer requests a reduction in the bid price or requests a closing cost credit, the seller doesn't really care. It's the same anyway. As for the buyer, the benefit of a credit instead of a reduction in the sale price is that it will allow the … [Continue reading] about How much are closing costs?
Why is VA rates lower than conventional? VA loans typically have lower interest rates than regular mortgages, allow for higher interest rates and lower credit scores, and they do not require private mortgage insurance. ... “It takes more work and … [Continue reading] about Do veterans get lower interest rates?
How do you calculate if PMI can be removed? Pay Your Mortgage One way to eliminate the PMI is to take the purchase price of the home and multiply it by 80%. Then pay your mortgage to that amount. So if you pay $250,000 for a house, 80% of that … [Continue reading] about Do you have to pay PMI with an FHA loan?
VA loans are among the few loans that another person can assume. However, you cannot simply transfer a VA loan to someone else. You have to go through a process with the lender for someone else to assume the loan. Can my son assume my VA … [Continue reading] about Can my dad use his VA loan to buy me a house?