The home loan program for veterans was instituted in 1944 through the Servicemen's Readjustment Act, otherwise known as the G.I. Bill. The bill provides veterans with the ability to receive a federally guaranteed mortgage with no down payment,...
The VA home loan program was instituted in 1944 when President Franklin D. Roosevelt signed the Servicemen's Readjustment Act, which is typically referred to as the G.I. Bill. The program doesn't actually lend the money for the home to the...
Streamline refinancing came about in the 1980s as homeowners grew weary with the prolonged closing process and its extensive underwriting and paperwork requirements. Streamline mortgages rely on the underwriting and approvals that were obtained...
It used to be that if you had poor credit, there was no use in applying for a mortgage--you would not qualify. Today, however, loans are often open to those with less-than-perfect credit scores. If you have poor credit and want a mortgage to buy a...
When military personnel deploy to a new assignment, the families and spouses of those troops are left at home to try and piece together a life based upon waiting and watching. When a friend is a military spouse, you can offer a helping hand and...
VA loans, which are mortgages guaranteed by the Department of Veteran's Affairs, have many benefits, like the fact that they require no down payment and they usually have low interest rates. Once you are approved for a VA loan, you are almost...
If you are in the market for a new home or simply want to refinance your current mortgage loan, consider applying for a government mortgage. Government mortgage loans are secured by the federal government and often have more lenient eligibility...
VA loans are home loans for veterans that are guaranteed by the federal government. The VA Loan Guaranty Service within the Department of Veterans Affairs administers the Veterans Administration loan program. The mission of the program is to help...
Veterans Administration loans are among the benefits available to active and veteran members of the military. There are benefits associated with obtaining a VA Guaranteed Home Loan versus loans available to civilians. However, borrowers must meet...
VA home loans are home mortgage loans which are backed by the Department of Veteran's Affairs. FHA home loans are mortgages lent by the Federal Housing Administration. Though there are some similarities between VA and FHA loans, there are many...
Most home loans are not assumable, but Veterans Administration (VA) and Federal Housing Administration (FHA) home loans are. It is not necessarily easier to assume a home loan than it is to get your own loan. Most assumable loans require the...
Buying a home is a life-changing financial decision, as homeownership can allow your money to grow over time without you having to work at it. The process of buying a home is neither quick nor easy, but with the right help, it can be made simpler....
While many veterans are aware of the advantages that come with obtaining a Veterans Administration (VA) home loan for purchasing a house, they may not be aware that there are some advantages to refinancing through the VA, as well. There are...
If you're thinking about buying a house, it's important to consider the options you have for a mortgage. There are many different types of mortgage loans, with various interest rates and repayment terms. Some home loans are protected by the...
One of the main benefits of a VA loan, which is a loan that is guaranteed by the Department of Veteran Affairs, is that there is no down payment required. VA loans are used for buying a home, although they can also be used to replace existing...
Bankruptcy is like a huge red X marking your credit report. It will be on there between 7 and 10 years and can ruin your financial reputation. However, your creditors will also know that you can't file for bankruptcy again for 7 years, so some of...
The Department of Veterans Affairs (VA) provides many services to those who served in the armed forces. This includes services for wounded soldiers, children of veterans of foreign wars, and veterans who received an honorable discharge. The VA...
A VA loan is a type of home loan guaranteed by the U.S. Department of Veterans Affairs. This loan can be used to purchase a home or refinance and existing mortgage at a low interest rate with little to no down payment and closing costs. VA loans...