Mortgage Loan, Purchasing & Refinancing - All Financial Services » VA Home Loans http://www.allfinancialservices.net/blog Mortgage, VA, FHA loans, refinancing & home buying tips and advices Wed, 21 Oct 2009 06:39:14 +0000 http://wordpress.org/?v=2.8 en hourly 1 Calculating VA Mortgage Loan Entitlement http://www.allfinancialservices.net/blog/mortgage-loans/calculating-va-mortgage-loan-entitlement/ http://www.allfinancialservices.net/blog/mortgage-loans/calculating-va-mortgage-loan-entitlement/#comments Tue, 21 Jul 2009 07:25:33 +0000 admin http://www.allfinancialservices.net/blog/?p=54 Looking for a VA mortgage loan, you must know few terms and calculations. In this regard here’s a quick overview of calculating the mortgage entitlement. The VA mortgage entitlement is completely based upon veterans’ eligibility. As you know that you must meet specific requirements to receive eligibility for VA mortgage loan. These requirements include, dates served in the military, credit scores and debt-to-income ratio.

All VA mortgage entitlements are predetermined for each eligible veteran. Below is the quick list of processes used to calculate a VA mortgage entitlement:

  1. Request a certificate of eligibility.
  2. Read and complete the VA form 26-1880 in its entirety.
  3. Submit your certificate of eligibility to the lender who will secure VA mortgage loan for you.
  4. Determine the amount of the purchase price of the home you are interested in and add the VA funding fee into the total price of the loan.
  5. Calculate your remaining VA mortgage entitlement after you obtain the loan
  6. Subtract the total loan amount of $197,047 from the current VA mortgage entitlement.
]]> http://www.allfinancialservices.net/blog/mortgage-loans/calculating-va-mortgage-loan-entitlement/feed/ 1 Mortgage Loan Purchase Needs A Careful Research http://www.allfinancialservices.net/blog/mortgage-loans/mortgage-loan-purchase-needs-a-careful-research/ http://www.allfinancialservices.net/blog/mortgage-loans/mortgage-loan-purchase-needs-a-careful-research/#comments Tue, 07 Jul 2009 05:03:39 +0000 admin http://www.allfinancialservices.net/blog/?p=35 Obtaining a mortgage loan is just like obtaining any other good form the market, where the prices can be negotiable. Shopping around for a home mortgage loan will give you the ability to choose from the best financial deal you’ve been offered. Same will be the criteria for obtaining VA loans and FHA loans.

You can get home loans from several lenders, banks and other mortgage offering institutions. Each lender may be offering you a different price and terms, it’s easy to choose once you have inspected many lenders, but how do you know you have made the right choice? This confusion is easily solved if you hire mortgage brokers to deal with your mortgage and help find you the best lender. Since, these are professionals in the industry and have several mortgage solutions in hand. Moreover, broker’s access to several lenders means a wide range of loan products and terms from which you can choose!

]]> http://www.allfinancialservices.net/blog/mortgage-loans/mortgage-loan-purchase-needs-a-careful-research/feed/ 3 Advantages Of VA Loans http://www.allfinancialservices.net/blog/mortgage-loans/advantages-of-va-loans/ http://www.allfinancialservices.net/blog/mortgage-loans/advantages-of-va-loans/#comments Tue, 16 Jun 2009 11:07:44 +0000 admin http://www.allfinancialservices.net/blog/?p=19 A VA (Veterans Administration) loan provides low-cost insured home mortgage loans. Whether you’re buying a home or want or refinance your mortgage, a VA mortgage loan might help. However, to qualify for a VA loan, you must be a veteran, military-related individual or their spouse. VA mortgage loans offer many benefits and protections that other loans don’t, including:

  • Credit Flexibility
  • Great Interest Rates
  • No Down Payment
  • No Mortgage Insurance
  • Low closing costs
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