Have you ever come across a deal that seems, well, too good to be true? We have. And so have millions of other consumers. These fraudulent offers are all too common in our society, and mortgages, especially government back mortgages like VA loans, seem to be a prime target. Many of these too-good-to-be-true offers promise the following: Zero cost loans Skipping mortgage payments Extremely low interest rates Large sums of cash back Immediate funding promises Unsolicited … [Read more...]
VA Home Loan Certificate of Eligibility
If you’ve ever applied for a VA home loan, you know you need a certificate of eligibility. It’s a small thing, but it can derail any loan if not handled properly. VA home loans are for veterans, active duty military personnel, and their surviving spouses only. With no down payment required, these loans are a small way of saying, “thank you,” to the men and women who put their lives on the line for our freedom. What is a VA Home Loan Certificate of Eligibility? The VA home loan … [Read more...]
The history of the VA Loan
The VA home loan is one of the greatest benefits offered by the U.S. Department of Veteran Affairs, but how did it get started? A VA loan is a loan from a qualified independent lender that’s backed by the VA. The VA doesn’t actually lend money, but instead guarantees loans made to veterans and active-duty military in case of default. The pledge gives lenders the confidence they need to lend on low- or no-down payment home purchases. Beginning in 1944, during the height of World War II, … [Read more...]
