Benefit news, VA loan tips and personal finance help from the Nation's #1 VA lender for Homebuyers
Credit score requirements vary by lender. However, most lenders have similar criteria. Let's look at the minimum credit score for a VA loan and what lenders typically expect.
VA disability compensation (pay) is a tax-free benefit paid to Veterans with injuries or illnesses obtained during or made worse by active duty. These are the latest VA disability compensation rates for 2022.
When you're ready to make an offer, typically, the best way to show you're serious is by including earnest money. Below we detail what earnest money is, how to get it back, and what you need to know about contingency agreements.
Most states offer disabled veterans a property tax exemption, which can save veterans thousands each year depending on state and disability percentage.
Second-tier entitlement allows qualified VA borrowers to purchase again despite default or foreclosure. It even lets veteran homeowners have two VA loans at the same time. First, VA lenders have to determine how much entitlement you have left. Find out more about entitlement and your VA loan eligibility.
Your VA disability rating by itself has no negative effect on VA loan eligibility. In fact, your rating may provide cost-saving benefits and additional income when considering a VA loan, even if you have bad credit.
Some lenders will finance a Joint VA Loan on which you can have a non-veteran or non-spouse co-borrower. Borrowing or refinancing with a civilian, partner or friend affects your down payment, entitlement and more. We’ll take you through VA loan co-borrowing scenarios to give you a better grasp of the pros and cons.