I receive a lot of VA loan questions in regards to bankruptcies (BK) and foreclosures. Most of the time the questions are determining how long a borrower has to wait after their bankruptcy before they become eligible for a VA loan?
Increased VA loan limits have helped many homeowners attain the full 100% financing in areas that were not once available to the full $417,000. As a mortgage broker, it is important that you ask your clients if they were ever in the military, because having that benefit can and will save them more money a month, with less of a down payment then going conventional through Fannie Mae or Freddie Mac, and even better then FHA.
Information on the VA Home loan program including some of the main benefits. The VA home loan is one of the best mortgage programs out there at a time where financing in general is tough to obtain.
VA home loans help veterans experience the American Dream. Help is near from a federal goverment program and certain VA mortgage lending companies.
VA loan usually carries lower interest rates than other mortgages and requires no down payment. This is one of the benefits that war veterans and soldiers having served in the military for a certain amount of time can have. In case the veteran is no longer able to pay back the money to the lender and this is where VA repossession comes in.
