From the category archives:

Buying A Home

Loan Officer or Realtor: Who Do You Get First?

by Vikki P.19 August 2009

This sounds like a chicken or egg question but should you get a loan officer or a real estate agent first? Let’s break it down to help you decide:

Realtor first! Believe it or not, real estate agents would want you to start with them. A realtor would help you get to the right track and [...]

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Good Faith Estimate 101 for Veterans

by themightyquin19 August 2009

One of the most important things that every veteran should know is how to evaluate a Good Faith Estimate or GFE. A good faith estimate is not just a verbal quote of how much you are going to pay but it is actually a document required by the Real Estate Settlement Procedures Act (RESPA).
If you [...]

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To Pay or Not to Pay? The VA Loan Funding Fee

by Vikki P.27 July 2009

For guaranteed loans, the law requires the borrower to pay the VA Loan Funding Fee. A veteran will be asked to pay this upfront during the final stage of the loan application process. Though VA home loans provide veterans a no-money-down benefit, a veteran is asked to pay the VA Funding Fee as a [...]

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VA Loan Appraisals – Everything you need to know and more

by Toni8 June 2009

A VA appraisal is a critical step in funding a VA loan. Let’s examine the appraisal process and highlight the key points every veteran should understand.
Don’t try to order your own VA appraisal!
The VA lender is responsible for ordering the appraisal. This process normally takes place just after the borrower has submitted their entire loan [...]

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10 Things You Must Do After Buying a New Home

by Vikki P.8 June 2009

You finally closed on your new home. Congratulations! The process of checking credit reports, getting a VA loan to finance your purchase, finding a realtor, looking for a house, and moving are over so whats next?

Update your address. Complete an official change of address form online or at a local post office to [...]

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VA Loan Closing Costs 101

by Vikki P.8 June 2009

Whether you are applying for VA loan or any mortgage loan, a borrower has to pay the closing costs. But what exactly are you supposed to and not supposed to pay? If you’ve already began your research, you will notice words such as allowable and non-allowables. Veterans applying for VA mortgages or loans are only [...]

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4 VA Loan Myths Demystified

by Vikki P.8 June 2009

Researching is very crucial if you are currently considering a VA home loan. And while you’re at it, you can’t help but discover some funny information about getting this type of loan.
Here are the truths behind the five of the most common VA loan myths:
Myth No. 1: I have bankruptcy on my credit report [...]

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Credit Requirements for VA Loan

by Toni8 June 2009

Even though the VA loan is more lenient than conventional mortgage programs, there are still credit requirements in order to be approved for a VA loan. Most banks require a minimum 620 credit score and 12 months mortgage history with no lates.
Types of imperfections on a credit report that may affect the VA loan approval [...]

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Federal Housing Tax Credit and YOUR VA Loan

by themightyquin4 June 2009

Everyday I get quite a few questions regarding the American Recovery and Reinvestment Act of 2009 and how it would apply to buying a home using VA financing.
For those of you that don’t know, this act was initially passed as a “tax credit” to first time home buyers up to $8000 dollars.
Many groups like the [...]

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Characteristics Of Predatory Lenders

by Toni28 May 2009

They say knowing is half the battle.
Here at www. NoBSVALoans.com, we want to keep our readers as well as fellow veterans informed. We believe that veterans need to know what’s out there and how they can protect themselves from abusive lenders. And because we don’t want anyone to become a victim of predatory lending, [...]

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