Refinancing

Good Faith Estimate 101 for Veterans

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 [...]

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Affordable Refinance Program

by themightyquin

The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans [...]

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

by Vikki P.

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 contribution [...]

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VA Streamline Refinance or IRRL

by themightyquin

So what happens when interest rates drop, and your once low rate is no longer competitive in today’s market? Lucky for you, Veterans have a quick and easy solution. The Streamline Refinance or Interest Rate Reduction Loan (IRRL) program as it is also known, can easily reduce the interest rate on your mortgage and consequently [...]

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VA Cash Out Refinance

by themightyquin

After having carefully planned and researched, you finally close on a VA home loan thinking that this is the end of all the troubles. As the years pass, so do your family dynamics. Maybe your family has grown in numbers and it’s time to add the extra bedroom, or maybe it’s just a matter of [...]

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VA Loan Appraisals – Everything you need to know and more

by Toni

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 [...]

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VA Loan Closing Costs 101

by Vikki P.

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.

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 [...]

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Credit Requirements for VA Loan

by Toni

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 [...]

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Characteristics Of Predatory Lenders

by Toni

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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