VA Basics: Loan Limits
Loan limits are set amounts a qualified Veteran with full entitlement may borrow without a down payment. The U.S. Department of Veteran Affairs (VA) does have a set limited liability amount which affects the amount of money it lends per person. This liability amount becomes known as a loan limit. VA does not set a cap on how […]
VA Basics: COE Explained
In order to take advantage of the many benefits of a VA home loan, eligibility must be proven by the applicant(s). Applying for a Certificate of Eligibility (COE) is not necessary to start the VA loan process but it is always a good idea to start the application process as soon as possible. The COE ensures […]
Co-signers for VA loans
To qualify for a VA home loan, at least one borrower must meet the VA loan requirements. If you are an eligible veteran and find yourself needing a co-signer, eligible co-signers may include: a legally married spouse an unmarried military member an unmarried non-military member *certain restrictions apply. Having a spouse as a co-signer may […]
Funding fee: who pays what?
The VA home loan program allows military families to purchase a home without a down payment. However, any military member using the VA Home Loan Guaranty, must pay a funding fee. The VA funding fee is a percentage of the loan that varies depending on the loan type and military category. The funding fee is […]
VA Appraisal success
A VA appraisal is part of the VA home loan process and an evaluation of a home to be bought using the loan. An appraisal is not optional and may have a big impact on the buying process. USAVA will order the VA appraisal for the prospective buyer and an appraiser will be selected random […]
