Are you looking to purchase or refinance a home?

Where are you looking to buy?

Enter the city or zip code of the area where you are home shopping

Please enter a valid zip code (i.e. 90210)

City*

Please complete this field.

State*

Please complete this field.

What price range are you looking for a home in?

$250,000 - $260,000
$0 $2m+

What kind of home are you looking for?


Do you have a real estate agent?


When are you planning to make your home purchase?


Have you found a home?


Do you currently own a home?


Who do you make your mortgage payment to?


Have you (or your spouse) ever served in the US military?

Veterans and active US military may be eligible for a $0 down VA loan


How much of a down payment would you like to make?

(An estimate is fine)


What is you current employment status?


Can anyone on the loan verify their income?


What is your current credit score?

(Most people have “Good” credit)


Do you have $15,000 or more in debt?

Only include things like credit cards and unsecured personal loans.


What is your email address?

Email Address*:

Please enter a valid email address.

What is your Name?

First Name*

Please complete this field.

Last Name*

Please complete this field.

Where is your home located?

Please enter a valid zip code (i.e. 90210)

City*

Please complete this field.

State*

Please complete this field.

What is your current street address?

Property values vary per area - this helps calculate the most accurate numbers

Street Address*

Please fill out this field

City*

Please fill out this field

State*

Please fill out this field

Zip Code*

Please enter a whole number (i.e. 90210)

What is the best number to reach you?

A lender will call you to discuss your options

Phone*

Please fill out this field

Where is your home located?

Please enter a valid zip code (i.e. 90210)

City*

Please complete this field.

State*

Please complete this field.

What type of home loan are you refinancing?


What is the value of your home?

$340,000 - $350,000
$0 $2m+

What's your remaining balance of your current loan?

$260,000 - $270,000
$0 $2m+

Are you interested in taking up to $5,000 cash out?


What is your current interest rate?

Estimations are fine.

4.5%
0% 7+%

Who do you make your mortgage payment to?


What type of home do you live in?


Have you (or your spouse) ever served in the US military?

Veterans, active service members, spouses, and other accepted beneficiaries may qualify for special government programs!


What is you current employment status?


Can anyone on the loan verify their income?


What is your current credit score?

(Most people have "Good" credit)


Are you behind on your mortgage?


If you were to receive a cash offer for your house today, would you be interested in possibly selling?


Do you have $15,000 or more in debt?

Only include things like credit cards and unsecured personal loans.


What is your email address?

Email Address*:

Please enter a valid email address.

What is your name?

First Name*

Please complete this field.

Last Name*

Please complete this field.

What is your current street address?

Street Address*

Please fill out this field

City*

Please fill out this field

State*

Please fill out this field

Zip Code*

Please enter a whole number (i.e. 90210)

What is the best number to reach you?

A lender will call you to discuss your options

Phone*

Please fill out this field

IMPORTANT DISCLOSURES

Loading your options

Terms of Use

x

Close

Privacy Policy

x

Close

Resources:

x

  • https://bosslegal.com/news-letter/
  • http://joenew.com/74-of-us-homeowners-now-have-at-least-20-equity-in-their-homes/
  • http://eyeonhousing.org/2017/03/home-equity-reaches-a-new-peak/
Close

What is "new" with the VA loan program for 2020?

x

The VA loan program is not new, it has been around for years. What *is* new for 2020 is a few things that may help more Veterans get into VA loans or lower their interest rate if they currently have a VA loan. Here are just a few things that are "new" about the VA loan program in 2020:

2020 Loan Limits Announced - Same as FHFA Loan Limits

The 2020 Loan Limits (Effective January 1, 2020) for VA loans are the same as the Federal Housing Finance Agency's limits. Be sure to check your county for 2020 loan limits: http://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability VA can assume, which usually affects the amount of money an institution will lend you. The loan limits are the amount a qualified Veteran with full entitlement may be able to borrow without making a downpayment. These loan limits vary by county, since the value of a house depends in part on its location.

The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to 4 times a Veteran's available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price."

Lenders Expanding Guidelines

The VA does not lend money, it only insures the loan made by the lender against default. The VA has a set of guidelines that loans must meet, but lenders also have their own set of guidelines (often called overlays) that many may assume come from the VA.

One of the requirements for the VA loan program that many lenders have is a minimum credit score. A minimum credit score is not officially required by the VA.

While not all lenders may require a minimum credit score, many lenders will require a minimum credit score in order to qualify for getting a VA loan.

It is important to note that it is entirely possible that one lender would require a minimum 680 credit score and another would require a minimum credit score of 620 and a third a minimum of 580.

The trend seen among many lenders is the lowering of the minimum credit score they require. Some lenders don't even require a minimum credit score.

This means if you have been turned down for a VA loan in the past, it may be possible for you to get a VA loan now - even though you have the same credit score as when you were turned down.

Because different lenders have different credit score requirements, we encourage you to shop many different lenders.

Reports Say VA Loans Save You More Money

According to data being compiled by industry experts, Veterans who get a VA loan statistically pay less for their loan. According to Ellie Mae (a software company whose software is popular in the mortgage industry) VA mortgage rates routinely beat the market rates by three-eighths of a percentage point ... or more.

Other Related Important VA Loan Information:

VA Loan Fact Sheet

If you are a Servicemember or Veteran with a permanent and total service-connected disability, you may be entitled to a Specially Adapted Housing (SAH) grant or a Special Housing Adaptation (SHA) grant. http://www.benefits.va.gov/HOMELOANS/adaptedhousing.asp

Great Infographic about the SAH grant

Most popular questions and answers about VA loans: http://www.blogs.va.gov/VAntage/17636/top-questions-va-home-loans-housing-grants/

Still Have Questions?

If you still have questions about the VA loan program, the best thing you can do is speak with a licensed mortgage professional at a VA approved lender. Reminder - each lender may have slightly different guidelines so our best advice is to speak with multiple licensed mortgage professionals who work at different lenders.

Close

Finding Your Lender Match...

Building your profile!

Name:

Address:

City:

State:

x

Close