There was a big announcement in December from the VA. The conforming loan limit for 2018 increased $29,000, setting the new limit at $453,100 for most parts of the country. This is the second increase seen since 2006. This means a buyer using their VA loan benefit can purchase a home up to $453,100 in most parts of the country without making a down payment. The loan limit … [Read more...] about VA Loan Limits Increase for 2018
VA Loan Basics: The Certificate of Eligibility
It's the green flag that starts the race. It's the bell that kicks off the day. It's the ticket that lets you into the show. It's the Certificate of Eligibility. Known as the starting point of the VA loan process, the COE provides the evidence a lender needs to ensure a buyer meets the VA's service requirement. It's a short and simple document, but the COE can stir up a … [Read more...] about VA Loan Basics: The Certificate of Eligibility
3 “S” Words Can Make or Break a VA Appraisal
Three little words can make or break a VA appraisal. The minimum property requirements dictate conditions all homes must meet to pass the VA appraisal. If you're familiar with the three "S's" that guide the VA's MPRs, you're on track for a successful VA purchase. The three S's create a foundation for protecting Veterans ensuring each home purchased with a VA loan are: … [Read more...] about 3 “S” Words Can Make or Break a VA Appraisal
Is No Down Payment too Good to be True?
No down payment requirement is far and away one of the VA loan program's most notable benefits. But it's also a perk that many believe is too good to be true. "What's the catch?" "How much is that going to cost me?" Let's put those suspicions to rest with a thorough discussion of the VA loan program, and an explanation of why VA loans don't require a down payment. All … [Read more...] about Is No Down Payment too Good to be True?
Military Service 101: What You Need to Know About Your Buyer’s Service
When working with VA buyers, you have to understand a few things about their military service. In addition to understanding the basics of the VA loan, you've got to understand how different stages of service can impact their home search and loan qualification. For many of your VA buyers, military service is their first experience with a "real" job. Some enlist straight out … [Read more...] about Military Service 101: What You Need to Know About Your Buyer’s Service