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Government LoanPro Blog

The Qualifications to Receive a VA Home Loan and the Paperwork You’ll Need

To receive a home loan from the VA several qualifications must be met. First and foremost, you may not be required to have the highest credit, but it must be suitable. The home you are looking to purchase must be used as your principle residence, and you will need to have sufficient income to cover a monthly mortgage as well as have a valid COE (Certificate Of Eligibility.)

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VA Loan Guidelines

These days getting a VA or FHA loan has become more and more difficult. No longer can you have a 60% debt to income ratio with the intention of buying a home outside your means. Today you are required to include bank statements, current paystubs, and identification.   Government requirements have stiffened to necessitate more tangible proof of financial ability from the borrower as well as greater responsibilities of the seller.

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What Are the Different Types of Mortgage Loans?

There are a lot of options for a potential homebuyer, and it’s important to understand the different benefits of the various types of mortgage loans before making your final decision. It can sometimes seem a little overwhelming when you start looking at all the alternatives, but if you understand some of the basics, you’ll have a good idea where to start the loan process.

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VA vs. FHA – Which is Better?

When looking to purchase a home, many people are confronted with the decision of getting a VA or FHA home loan. There is plenty of hearsay about the reasons to choose one loan over the other but in truth; each loan has qualities that could make it the right choice for you. To help you decide between and learn all about the differences of these two loans, we’ve created this comprehensive blog post. In this post you will learn what the requirements for each loan are, how each loan is beneficial and the negative aspects of each loan. In the end, our hope is that you will be able to tell us which loan will work best for you.

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5 Home Improvements That Don’t Improve the Resale Value of a Home

Many homeowners are seeking to increase the value of their home through upgrades, remodeling and improvements. Many of these homeowners wish to accomplish these improvements through government programs like the EEM loan or FHA 203k loan, which are designed to assist owners with the rehabilitation of a home. EEM (Energy Efficient Mortgage) loans are designed to help finance the costs of converting a home to higher energy efficiency through appliance or window upgrades while the FHA 203(k) loan is meant to provide funding for home rehabilitation such as repairing leaking roofs, replacing heating systems, etc… While these two loans can assist the financing of several home repairs and improvements, not all improvements are covered by these mortgage loans.

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Choosing the Right Mortgage

Finding the perfect mortgage to enable a person to buy their dream house is a unique experience that takes research, an in depth knowledge of the available options and a good loan officer who is willing to work with the potential homeowner to find the right mortgage for their needs. Many people are faced with the decision of choosing which mortgage is right for them. In this article one will find information about interest rates and loan types to assist a borrower in making this decision.

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The Nine Steps to Purchasing a Home

Purchasing a home can be an exhilarating, yet somewhat overwhelming experience. Many first time homebuyers meet the task with anticipation, only to feel daunted at all that needs to be done to finally call their dream house their own. We are often asked if there is a step by step process to follow whilst buying a new home and we are happy to say yes there is! Once you’ve decided to dive into the home buying process, here are the 9 steps you will need to follow.

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Save Money with the New FHA Streamline Refinance Program

Many veterans across America find themselves unable to qualify for VA loans and therefore choose to go with a FHA home loan instead. When it comes time refinance these loans, whether it is several years from the original loan endorsement or the minimum six months of occupancy, we see homeowners looking to save as much money as possible. To help these homeowners receive the best options available, the FHA (Federal Housing Administration) created the Price-Cut FHA Streamline Refinance program.

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