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A VA Loan for Your New Home
Buying a home is one of the biggest and most important decisions you will ever make.
We understand that and want to make the process as easy as possible. Whether you are a
first-time homebuyer or are experienced with the process, we're here to make your home
buying journey a great one.
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- Use the Debt to Income Ratios to figure out how much you can afford to pay for a home.
- Get pre-approved on your home loan. Knowing that your mortgage loan and credit
report are already approved will let you look for your new home with confidence.
Also, a pre-approval lets the seller know that your offer is solid and that you're
a serious buyer.
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FREQUENTLY ASKED QUESTION # 30 [ -more VA Loan questions- ]
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Q: Improving Credit - How can I help myself before applying for a VA home loan?
A: Because your VA loan eligibility depends on your debt ratio, it's a good idea to start thinking about fixing your credit long before actually filling out loan paperwork. The best way to help yourself out is to follow the advice of a credit counselor, but you can also take steps on your own to increase your eligibility for a VA home loan. Eliminate as much credit card debt as possible. If you can get yourself down to a single card and stay that way for six months, you will be well on your way to improving your debt ratio and your credit rating. Remember that the maximum debt ratio allowed for approval is 41%, and that your credit rating is also a factor. If you are within a few months of paying off a major debt such as an automobile loan, do so as quickly as possible. You'll most likely need to allow for credit reporting agencies to "catch up" with your newly paid off cards and loans.
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VA Loan Rates
for 5/11/2008
30 year fixed
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0.000 points
6.000%
6.110% APR
15 year fixed
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0.000 points
6.000%
6.190% APR
Life Insurance for Military Members
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- Capella University
- DeVry University
- Kaplan University
- Westwood College
- Walden University
- Strayer University
- Virginia College
- Grand Canyon U.
- Grantham Univ.
- Jones Int'l Univ.
- South University
- Ellis College
- CTU Online
- Baker College
VALoans.com is a private company specializing in VA financing and is
not a government agency.
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Get Started with a
VA Home Loan
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