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Opinion: The pros and cons of VA modernization bill

Housing Wire

My hope is that many of the features and policies that have made the VA loan the safest mortgage in the U.S. While I’m a fan of improving antiquated systems, I first wonder if the VA, the MBA, or Congress were open enough about the problems with the current system.

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Finding the Perfect Multifamily Property

AAOA

Taking your time and doing your due diligence when considering a particular investment property will always be a crucial step. Be aware of the down payment requirements and interest rates of conventional, commercial, FHA and VA loans, as they may vary depending on the size of the property.

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First-Time Homebuyer Loans & Programs

Point2Homes

The FHA also guarantees your loan through this program, allowing lenders to accept borrowers with lower credit scores. If you’re a current or former service member, you can benefit from the VA loans program, in which the U.S. VA loans are one of the few $0 down payment loan programs, along with USDA loans.

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Assumable Mortgages: What to Know Before Taking Over a Home Loan

Redfin

Instead of applying for a new home loan with todays mortgage rates and terms, the buyer steps into the seller’s position as the borrower and continues making payments under the original loan agreement. Assumable mortgages represent a unique opportunity in the right circumstances but require careful due diligence.

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Beaches, Mountains, Sunshine? Yes, Please. Here’s How to Buy a California Home

HomeLight

Mortgage insurance premium (MIP) paid monthly for the life of the loan. VA loans are available to current service members and veterans who meet eligibility requirements. There are two types of VA loans — a VA direct home loan (uncommon) and a VA-backed home loan. DTI of 43% or lower.

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From Contract to House Keys: Breaking Down the House Closing Process

HomeLight

Conventional loans closed in an average of 47 days in July 2021, while FHA loans took 51 days, and VA loans required an average of 52 to close. Step 4: Submit the loan application officially. While you may have been preapproved for your loan, that doesn’t mean you’re done getting a mortgage.

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Low Appraisal on Your Home? A Reconsideration of Value Might Save the Sale

HomeLight

The ROV process is different for VA loans. When the buyer is financing with a VA loan, the appraiser must notify the lender if she suspects the appraisal will come in low. This is called invoking the Tidewater Initiative and allows buyers to challenge a low appraisal before it is official.

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