Results for ‘servicemember affairs’

I am in the military and I’m in the process of closing on my first VA home loan. I hear that servicemembers and veterans do not have to pay many of the closing costs associated with a typical closing. How do I know what I should pay and what I should not pay?

The VA program does have limits on fees, compared to many other mortgage loan programs. Three business days before closing, your lender provides you with a form called the Closing Disclosure. This form lists all the fees associated with getting ...

I am a servicemember and we just received PCS orders or have to move for another reason. It’s impossible to sell our home for enough to pay off our current mortgage so we’ve been advised to rent it out instead. I recall when we signed the mortgage that we were told that our rate was based on the fact that the house would be owner-occupied. Will this be an issue if we want to rent the house?

Many mortgage rates are based on whether the property will or will not be initially occupied by the owners. Your mortgage and note will specify the amount of time that you must occupy the property (often one or two years). ...

What is a VA loan?

The Department of Veterans Affairs (VA) offers loan programs to help servicemembers, veterans, and their families buy homes. The VA does not make loans, but rather sets the rules for who may qualify, arranges the terms under which mortgages may ...

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