The following is a quick list of reasons why a VA loan may be your best option:

• No down payment required
• VA funding fee may be financed in the loan
• VA Loans do not require perfect credit –there is no credit score cut-off
• VA funding fees may be waived for Veterans with VA rated service-connected disabilities and surviving spouses of Veterans with service-connected disabilities
• Closing costs may be shared between the buyer and lender
• Flexible mortgage types – fixed, hybrid
  

The VA home loan benefit can be reused if you have paid off your prior VA loan and sold the property. In addition, you may, on a one-time-only basis, be able to reuse or restore your benefit eligibility if your prior VA loan has been paid in full and you still own the property. In either case, to restore your eligibility, you must send a completed VA Form 26-1880 to your VA Eligibility Center. (See VA Loan Documents Checklist)

To prevent

There is no maximum loan amount; however, VA does limit its guaranty. VA loans have no loan limit any more as of January 1, 2020. If you make a down payment, your lender may loan a larger amount. While not a down payment, the guaranty often satisfies the lenders’ requirement that a portion of the home price be paid for up front (i.e. the down payment). This can save the home buyer the burden of making a down payment. The

Debt-to-Income (DTI) ratio is your total monthly debt payments divided by your gross monthly income.

Let’s assume you are an E-6 over 8 years (base pay of about $3500/month), with housing allowance of $1500/month, and subsistence allowance of $365/month. Your total monthly income is $5365/month.

VA guidelines do not have DTI limits, but as a rule of thumb, most loan officers limit pre-approvals to 50%. So, if you make $5,365/month, you would most likely not be issued a pre-qualification letter with a

The VA Home Loan benefit is an amazing benefit that guarantees the Lender in case of a Veteran defaulting on their home loan.  However, the VA does not set the rates or market of VA Loans.  That is up to the secondary market, which is where the lender comes in to play.

Real Estate loans are all about appetite for risk.  Many lenders will charge higher fees buried in documentation to cover their risk and pay for marketing to attract Veterans

No. You won’t lose points for multiple credit pulls. You can have your credit pulled multiple times in a 30-day period and it only counts against you once. You’ll lose a max of 2-4 points, if that.

Your better play would be to find a reputable broker from this group and have them shop your loan around to multiple lenders to find the best deal.

That way, you’re not having credit pulled a ton and you won’t receive a bunch of different