What does it mean to gain equity in my home and what can I do with that equity? Equity in your home is a term used to describe the value of your home beyond what you owe on the mortgage. It is the difference between the current market value of your home and the amount […]
Using your VA Loan… There is no limit to how many times you can use your VA loan as long as you still have entitlement available. If you sell a property with a VA loan on it, you can restore your entitlement so you have full entitlement available for your next purchase. If you are […]
Yes you can, but the veteran/borrower must occupy one unit as his/her residence. The borrower will also need 6 months of the mortgage payments (PITI) set aside in an account as reserves, and documentation of the borrower’s prior experience managing rental units and/or use of a property management company to oversee the property. The reserves […]
The Pest Inspection is actually a Wood Destroying Insect or WDI report. VA doesn’t really care about pests like mice and roaches… VA wants to know about things that eat wood AND areas around the house that are conducive for attracting such things. Like mulch piled up against the house or fences touching the house […]
Yes and no. Down payment yes but you will still owe the closing cost on the house. However, that can be paid by the seller. With the VA loan you don’t need to have a down payment. But you will still have to pay closing costs which can equal anywhere from 2 to 5% of […]
Get pre-approved for a mortgage
with as little as 3.5% Down
Refinance your existing mortgage to
save money and tap into equity.