South Carolina Mortgages & Home Loans - SC Mortgage / South Carolina Real Estate - SC Real Estate

VA Mortgage Loans

What is a VA mortgage PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Tuesday, 08 November 2005
The VA Loan began in 1944 through the original Servicemen's Readjustment Act, also known as the GI Bill of Rights. The GI Bill was signed into law by President Franklin D. Roosevelt and provided veterans with a federally guaranteed home with no down payment.
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
What type of home can I buy with a VA mortgage PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Tuesday, 08 November 2005
A VA home loan must be used to finance your personal residence within the United States or its territories, but you have many choices regarding the type of home you purchase.
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
Who is eligible for a VA mortgage PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Tuesday, 08 November 2005
Wartime/Conflict Veterans

Wartime/Conflict Veterans who were not dishonorably discharged, and served at least 90 days:

World War II - September 16, 1940 to July 25, 1947
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
How do I apply for a VA guaranteed mortgage PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Tuesday, 08 November 2005
You can apply for a VA loan with any mortgage lender that participates in the VA home loan program. At some point, you will need to get a Certificate of Eligibility from VA to prove to the lender that you are eligible for a VA loan.
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
What are the negatives of a VA mortgage PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Thursday, 20 July 2006

VA loans made prior to March 1, 1988, can be assumed with no qualifying of the new buyer. If a buyer of such a property defaults, the veteran homeowner may be liable for funds.

Some sellers may be hesitant to work with someone who is acquiring a VA loan because of their past reputation of taking longer to process than conventional loans. While the time may still be a little longer, getting a VA loan is not the lengthy ordeal it once was. 
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
What are the benefits of a VA Loan PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Thursday, 20 July 2006

100% financing, no down payment loans are common.
No Private Mortgage Insurance (PMI).
No penalties if you prepay the loan.
Competitive interest rates.
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
How many VA Mortgage Loans can I have PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Thursday, 20 July 2006
Yes, your eligibility is reusable depending on the circumstances. Normally, if you have paid off your prior VA loan and disposed of the property, you can have your used eligibility restored for additional use. Also, on a one-time only basis, you may have your eligibility restored if your prior VA loan has been paid in full but you still own the property.
Last Updated ( Wednesday, 23 August 2006 )
Read more...
 
What are the benefits of a VA Loan PDF Print E-mail
User Rating: / 0
Written by Tamara Schmitt   
Thursday, 20 July 2006

100% financing, no down payment loans are common.
No Private Mortgage Insurance (PMI).
No penalties if you prepay the loan.
Competitive interest rates.
Last Updated ( Tuesday, 22 August 2006 )
Read more...
 
[ Back ]
2100761 Visitors