How Long Do I Have To Pay Back A VA Loan?
When you decide to use a VA Loan, you may be excited about the prospect of buying a home without having to pay a huge down payment. In fact, the VA Loan does not require a down payment at all. This means that you can buy a home without paying anything out of pocket. Closing…
Do You Pay Closing Costs With A VA Loan?
When buying a home with the VA Loan, determining your eligibility is one of the first steps that you will take. You need to obtain your Certificate of Eligibility (COE) from the Department of Veterans Affairs and provide it to your lender. Some lenders are able to do this on your behalf. After that, the…
Can I Use A VA Loan Without A Down Payment?
Yes! The main benefit of the VA Loan is that you can purchase a home without any down payment. That means that you can buy a home without paying anything out of pocket. It is also known as a “0% down” loan. Other low down payment options include the FHA Loan, which can be approved…
Can I Use A VA Loan To Buy A Home Overseas?
The VA Loan can only be used within the United States or its territories. Unfortunately, it cannot be used to buy a home overseas. For many service members stationed overseas, this means that they cannot use their VA Loan to purchase a home at their current duty station. You can still use your VA Loan…
Can I Use A VA Loan For An Investment Property?
The VA Loan was first developed after World War II to make home ownership more accessible to the military service members returning from war. They had not had years to build up a cash reserves to use as a down payment. So the Department of Veterans Affairs eliminated the requirement for a down payment for…
Can a Civilian Use a VA Loan?
With few exceptions, civilians are not eligible to use the VA Loan. The VA Loan is designed to be a benefit that military personnel earn while on active duty. It can also be used by military Reservists and National Guard members who meet the time in service requirements. Veterans who are separated or retired from…
Can I Use The VA Loan For A Fixer Upper Home?
If you dream of fixing up your own home, you may think that it isn’t possible with the VA Loan. After all, the Department of Veterans Affairs has a minimum habitability requirement that includes things like running water and flooring. If you have your heart set on a home that needs a lot of work,…
Can I Use The VA Loan For A New Construction Home?
If you have your eye on a piece of property and want to build the home of your dreams, you may be wondering if you can use your VA Loan benefit to buy either the property or pay for construction of the home. The answer is yes, as long as you do them together. You…
Is The VA Loan Free Money?
You may have heard of the VA Loan as a “zero money down” loan. Some people hear this and think that the VA Loan is free money that they can use to purchase a home. While there are many benefits to using the VA Loan, free money is not one of them. When it comes…
Is The VA Loan A Conventional Mortgage?
There are many home loan types out there: VA, conventional, USDA, and FHA. What is the difference? Is the VA Loan a type of conventional mortgage? The Conventional Mortgage No, the VA Loan is different from a conventional mortgage. Anyone can apply for a conventional mortgage. Typically, the lender will require that you put…