Banks and lenders frequently sell mortgages after closing, but the terms of your mortgage and regular payments will not change with a new servicer.
Veteran homebuyers oftentimes choose to use the VA home loan benefit to purchase a home because of the zero down payment requirements. Some may not be aware of another option out there that’s available to non-veteran buyers that offer 100% financing as well.
Before you can use your VA loan benefits, you'll need the help of a VA approved lender. Here are 5 steps to compare the nation's top VA lenders.
The Department of Veterans Affairs will not guaranty loans that restrict the borrower’s ability to sell or dispose of the property.
Title insurance is not mandatory under the VA loan program. But VA loan rules do permit lenders to require such insurance.
The escape clause protects the buyer from being obligated to a VA mortgage loan when the appraised value of the home does not match the sales price.
Borrowers should know there is no time limit or "maximum age" limit to be eligible for VA loans. Lenders are barred from discriminating on the basis of age.
Lenders are free to set requirements for escrow accounts for payment of property taxes and/or other costs required as part of a VA loan.
There are many different VA home loan benefits available to qualifying disabled veterans. One benefit includes types of housing grants for home renovation.
Many veterans choose a VA guaranteed mortgage as opposed to a Federal Housing Administration mortgage loan or conventional mortgage. VA loans feature some of the best down payment options for qualified borrowers.
There are several options available when it comes to VA loan repayment Learn more about VA Adjustable-Rate Mortgage loans in this article.
If you get an offer lower than the payoff amount on your VA home loan, contact the VA about a compromise sale to pay the difference.