Has this happened to you? You’ve received a mailer promising what seems to be an impossible rate only to find out it’s an ARM with ridiculous points and fees. Yet it does get you thinking that maybe you could save some money by refinancing your Conventional or FHA loan into a new VA loan. So […]
It is one of the most common questions asked by future VA home buyers or home owners looking to refinance with a VA loan. “How long will it take to close?” There are many factors that go into determining how long it takes to close a VA loan. Each factor can add days to the […]
Most lenders would immediately answer “No” to the question of whether you can buy a rental property with a VA loan. They would be both correct and incorrect. VA defines an investment property as one that the veteran does not occupy and a primary residence as the property you intend to occupy. That’s pretty straight […]
Every year VA makes changes to their VA county loan limits based on median home sales in each county throughout the country. In fact, here you can see all of 2014 VA loan limit changes. In December 2013, VA made several changes to the VA county loan limits but none seemed to have as much […]
An ARM, or adjustable rate mortgage, is a mortgage in which the interest rate of a loan changes after a specific period of time, as opposed to a fixed rate mortgage, or FRM, in which the rate stays the same through out the life of the loan. With a VA Hybrid ARM, similar to other […]
FHA Loans are mortgages that are insured by the Federal Housing Authority (FHA). There are many advantages to FHA loans. However, there are many more disadvantages when compared to VA loans and if you are a veteran and not working with certified VA lenders, you could get stuck with a significantly inferior loan and thus […]
You’re back from deployment. You’ve had some time to think about preparing to settle down, kick off your boots and get your civilian life started. Becoming a first time home owner is top on your list. For many veterans, the dream of owning a home can seem like it’s forever 2 to 3 years out […]
As of January 2014, married same sex couples may now apply for VA-backed mortgages in 17 states. VA Loan For Same Sex Marriages All men and women are created equal. Until recently, that has not always been the truth. Now according to the Supreme Court ruling on same sex marriages, all men and women who […]
There are 3 basic types of institutions you can acquire a VA loan from….Pay very close attention to the lender that originates your loan for you and do your research. You could save yourself literally thousands in closing costs and higher rates.
All in all, the VA Hybrid ARM is a very good product but if you have a choice, you should consider carefully. Get more information from a VA Loan Specialist and save thousands with No Origination Fees when you use FreeVAloan.com.