The Department of Veterans Affairs (VA) offers loan programs to help servicemembers, veterans, and their families buy homes. The VA sets the rules for loan qualification, arranges the terms under which mortgages may be offered, and guarantees any loan ...
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A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs). Conventional loans can be ...
Where can I get money for a down payment on a home?
It depends on your situation. If you don't have cash for a down payment, there are several options available. Remember to advise your lender of your financial particulars, including that you are using one of the financial options described below. ...
Can a debt collector take or garnish my wages or benefits?
If a court issues a judgment saying that you owe a debt, it could allow the creditor to garnish your wages or certain benefits to pay it off. State and federal laws limit how much a creditor can garnish from ...
What are the education benefits of the GI bill?
With the Post 9/11 GI Bill, members of the military may be eligible for up to 36 months of educational benefits for college tuition and fees, housing, books and supplies, as well as money to move if you live in ...
I was offered a pension advance. What is this? What should I look out for?
Pension advance offers promise to pay a lump-sum payout to retirees who receive pensions. If you get an offer for pension advance products, be careful. The payout from a pension advance is made in exchange for all or part of ...
If you are eligible for the Aid and Attendance benefit, you can apply for free. The Department of Veterans Affairs (VA) recognizes experts who can help with the application process, but they should not charge you any fees to do ...
A Qualified Mortgage is a loan with less risky features and protections that make it more likely that you’ll be able to afford your loan. Types of qualified loans include all government-backed loans guaranteed or insured by the Department of ...
What is mortgage insurance and how does it work?
Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get. Typically, borrowers making a down payment of less than 20 ...
When can I remove private mortgage insurance (PMI) from my loan?
You have the right to remove PMI for many mortgages, once you have paid down your mortgage to a specified point. Ending PMI reduces your monthly costs. Some lenders and servicers may allow removal of PMI under their own standards. ...
What is a “surprise medical bill” and what should I know about the No Surprises Act?
A surprise medical bill is an unexpected bill from an out-of-network provider or at an out-of-network facility. Effective January 1, 2022, the No Surprises Act may protect you. Medical debts often occur after an accident or sudden illness. Consumers ...
What should I do if I can’t pay a medical bill?
Navigating the complexities of medical billing systems is extremely difficult. Make sure the provider accurately calculated the bill and that you owe it before you pay. There also may be protections under federal and state law as well as financial ...
A Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage, is a special type of home loan only for homeowners who are 62 and older. A reverse mortgage loan, like a traditional mortgage, allows homeowners to borrow ...
Foreclosure processes differ by state. They are generally done in two ways. If done by filing a lawsuit, it is called "judicial foreclosure." In some states, the lender can foreclose without going to court, and that is called "non-judicial ...
No, you can't. VA loans are only for a primary residence. If two servicemembers each have a certificate of eligibility, a home you buy together still has to be one that you will use as your primary residence. That means ...
What can I do if I think a mortgage lender discriminated against me?
If you think you’ve been discriminated against by a lender or creditor, check for your local state protections. You can also submit a complaint with the CFPB. Look out for warning signs H2 Discrimination by a creditor is often hidden ...
What is a government benefit card?
Some state and federal government agencies use prepaid cards to pay unemployment benefits, child support, and other government benefits. Federal law requires disclosures and protections for loss, theft, and errors for certain types of government ...
Do I have to use a government benefit card to continue receiving a benefit?
You may have a choice of how to receive your government benefits. Your options depend on the type of benefits you are receiving and the rules set by the government agency that has arranged for the card. Some benefits, such ...