Benefit news, VA loan tips and personal finance help from the Nation's #1 VA lender for Homebuyers
Lenders consider your gross monthly income when evaluating what kind of mortgage you can afford. In other words, they’re looking at your major monthly debts in relation to your pre-tax income.
While children of veterans are not eligible for a VA loan, surviving spouses may be eligible if they fall into one of the VA’s three basic areas of consideration.
Just like Veterans and military members’ families are eligible for a VA home loan, the U.S. Public Health Service (PHS) and the National Oceanic and Atmospheric Administration (NOAA) are also qualified, meaning they can secure $0 down payment mortgage.
The Servicemembers Civil Relief Act (SCRA) is a federal law that provides a range of civil and financial protections for active duty military members. The SCRA provides mortgage rate protections that apply as long as the loan predates enlistment or the period of active duty service.
Here we look at how shopping for a mortgage impacts your credit and how lenders, including Veterans United, typically use a different scoring metric compared to credit monitoring tools.
VA loans offer one of the most affordable ways for Veterans and their surviving spouses to become homeowners. Along with low-interest rates and no down payment requirements, you can use them to buy many different kinds of homes, from standard single-family homes and condos to manufactured and modular homes.
When returning from deployment, adjusting to life stateside may be difficult. For military members returning home with an injury as a result of their service, adapting to a new way of life has its own set of challenges.