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Deeper asset history unlocks new lending opportunities

Housing Wire

At first blush, this may seem like overkill; does a lender really gain anything by harnessing all that extra data for a VA loan that only requires two months of bank statements? Perhaps the loan is associated with a construction project that could take an unknown number of months to complete.

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Does Earnest Money Go to Your Down Payment? Find Out Here

Redfin

The remaining $2,000 will help cover expenses like loan origination fees, title insurance, and escrow costs. Youre using a no-down-payment loan If youre financing with a VA loan or USDA loan, which dont require a down payment , your entire earnest money deposit can go toward closing costs instead.

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Can Closing Costs Be Rolled Into Your Mortgage?

Redfin

Higher monthly payments: While your upfront costs are lower, your monthly payments will be slightly higher because of the larger loan amount. VA loans A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA). This is called a seller concession.

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When Is a House Down Payment Due and How Much Do I Need?

HomeLight

Veterans have access to the Veterans Affairs (VA) loan when buying a home , a great benefit of serving the country as a current active military member, a military veteran, or as a surviving spouse of someone in the military. A VA loan provides 100% financing with no money down — so no down payment.

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Can You Get Your Earnest Money Back at Closing?

Redfin

If your down payment is already covered, the earnest money can help pay for lender fees, title fees, and other closing expenses. If your earnest money exceeds your total costs due at closing, youll get a refund for the excess amount. This is more common with VA loans or USDA loans, which require no down payment.

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How the Financing Contingency Works: Why Buyers Should Think Twice Before Waiving It

Redfin

Unusual homes can cause appraisal challenges that impact loan approval. Youre using a government-backed loan. FHA or VA loans often have longer processing times and stricter property standards, which could create unexpected delays. Youre buying a unique or hard-to-appraise property.

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Your Top 11 Questions About Down Payments, Answered (Including: What’s an Average Down Payment?)

HomeLight

There are three kinds of USDA loans: Guaranteed USDA Loans (loans from approved lenders that are guaranteed by the USDA), Direct USDA Loans , and housing repair loans and grants. Home loan benefits and housing programs offered through the U.S.