With home value continuing to appreciate, many homeowners now have a multitude of home equity in their current homes. This has opened up the opportunity for consumers to complete cash out refinances.
A cash out refinance can be used to not only receive cash back in hand, but also used to obtain funds to complete upgrades to your home, consolidate debt (including second mortgages) and pay for other unexpected expenses.
If you are thinking about a cash out refinance, there are many different home loan options to consider options.
In this article we will explore some of the more popular options for … (0 comments)
You can purchase a home with no down payment (VA loans) or with a 3% down payment (some VA loans), or you may need a 15% down payment (investment property home loans).
However, there is no one answer to the question and you certainly don’t need to put down a 20% down payment, in order to purchase a home.
Let’s take a look at the options.
Primary Residence (a home loan for a … (0 comments)
va home loan: Refinancing Without Cost – How To Do It And When It Makes Sense
- 09/04/18 08:28 PM
There are multiple reasons why someone might refinance their home loan. They might be pulling equity out of their property for debt consolidation or home repairs. Or someone may refinance, to move from a mortgage with mortgage insurance, to a new loan without mortgage insurance. Or perhaps you may simply refinance to decrease the interest rate on your loan.
Given that a home mortgage, is often times, the largest debt, by a long shot, for most Americans, it makes sense to try and lower the interest rate of the loan, due to the power of compound interest. Even a half of percent … (0 comments)
va home loan: VA Loans – Facts About The Program To Honor Those Who Serve
- 07/30/18 03:03 PM
The VA Home Loan is a benefit to those who have served or are serving our armed forces and is a truly unique program, for those that are eligible. The VA loan program is for qualified Veterans of the Armed Services and National Guard and also current active duty military personnel. This article will discuss some of the facts, features and benefits of the program, including: no minimum down payment, no maximum loan amount, minimum credit scores and flexible debt guidelines of the program. Credit Score: On an VA loan, there is no minimum credit score to obtain a loan, but most … (1 comments)
The VA loan program is truly a benefit for our servicemen and servicewomen and Veterans and offers features that other loan programs do not. In this article, we will discuss some of the most important features of this home loan program, including down payment requirements, credit score requirements and a host of other features.
Down Payment The VA home loan has no down payment requirement at all for the purchase of a home. Meaning that you can purchase a … (4 comments)
va home loan: The VA Home Loan – What You Need To Know
- 10/23/15 06:37 AM
The VA Home Loan is a program for Veterans of the Armed Services and National Guard and also current active duty military personnel and is a program that provides great benefits for our servicemen and servicewomen and Veterans. Here are some of the important things you need to know about the program. Loan Limits The current VA loan limit is $417,000 in Maricopa, Pinal and Pima Counties in Arizona. Meaning that this the maximum loan size you can obtain using a VA loan. Previously there was not a VA loan limit, but this has been changed to be equal to the conventional … (0 comments)
The VA (Veterans Administration) home loan is a home mortgage loan for eligible active duty members of our Armed Forces and National Guard and also Veterans of these services as well. The program itself is often times the very best choice, for someone who qualifies for it, as interest rates are usually lower than Conventional mortgage rates In addition, the program asks for no down payment, requires no mortgage insurance and allows flexible credit guidelines. In this article we will continue to take a look at some of the best program benefits of the VA home loan program. … (0 comments)
When it comes to purchasing a new home, after the foreclosure of a previous home, there are generally standard waiting periods for each of the major home loan programs. In this article we discuss common waiting periods to purchase a new home after a previous foreclosure or bankruptcy. On an FHA loan, there is generally a three year waiting period after a foreclosure or short sale (though this can be reduced to one year with the FHA back to work program). In addition, the FHA will allow you to purchase a new home just two years after the discharge … (1 comments)
While other mortgage loan programs backed by the Government have moved to continually raise their fees, the Veterans Administration loan program, available for active duty and veterans of our armed services has actually worked to continue to lower loan fees for their programs. VA loans still have no minimum down payment and no monthly mortgage insurance requirements ever. There is still a funding fee requirement that varies based on if you are active duty or retired and whether or not you have used a VA loan before and even your down payment. However, that fee can be rolled in … (0 comments)
When it comes to obtaining a new home loan, there are generally three major events that supersede all other items, when it comes to time frame to obtain a new home loan. Those events are a foreclosure, a short sale or a bankruptcy. As we are often asked how long somehow has to wait to purchase a new home after one of these events, we present this cheat sheet for VA home loans. FORECLOSURE: For a new home loan after a foreclosure, VA loans normally require a two year waiting period from the final sale date of the … (0 comments)
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