For most people, buying a home is a smart financial decision. For our active duty military men and women, the decision to buy is a bit more complicated. For instance, if you’re going to be routinely stationed at different bases, or even deployed, should you invest in owning a home or continue renting?
Today, we’re talking about entitlement as it relates to VA loans. An entitlement in this case is the dollar amount the VA promises to repay the lender in the event you default on your mortgage. Entitlement is a tricky thing to explain and understand. Recently, Quicken Loans hosted a VA loan Q&A on Google Hangouts to try to answer the tricky entitlement question. Read on to find out more.
We’ve addressed the topic of whether you can have more than one VA loan at a time in our Google hangout, but the topic is often difficult for many veterans to understand. Because you’re dealing with entitlement and maximum loan amounts, it can seem incredibly complicated, but once it’s broken down, the process isn’t as bad as it first seems
Here at Quicken Loans, we paired up with Military.com to ensure all of your questions about VA loans were answered in our VA loan Q&A Google Hangout. One of those questions was: Can you have more than one VA loan at a time? Spoiler alert: Yes, you can!
If there’s one thing I do my best to impress upon our clients, it’s how much we support our nation’s veterans. When we’re not volunteering at the VA Hospital, working in the community to help veterans, or partnering with VSOs, we’re helping veterans who are transitioning to the civilian workforce.
A very cool thing happened at the Little Caesars Pizza Bowl on December 26, 2013 in downtown Detroit. Army First Lt. Anthony Ashford, who recently returned from overseas, was given the gift of a lifetime – keys to a new home.
VA loans are a popular choice for U.S. veterans and active duty members, so we partnered with Military.com, the U.S. Department of Veterans Affairs and the National Association of Realtors® for our VA Loan Q&A Google Hangout to make sure that all of the common questions about VA mortgages are answered. It’s a good thing we did, because VA loans are on the rise, with a 50% increase since 2011!
Do you use the terms “realtor” and “real estate agent” interchangeably? A lot of people do, but there’s actually a distinct difference between the two. During our VA Loan Q&A Google Hangout, Margo Willis and Nick Mannis of the National Association of Realtors® let us in on the professional differences between realtors and agents.
Freddie Mac and Fannie Mae have relaxed their short sale requirements to offer more protection for service members and their families. Under the terms of the new guidelines, military homeowners who have orders to move do not have to be delinquent on their mortgage in order to qualify for a short sale.
Anyone can assume a VA mortgage – as long as their income and credit qualify – but children of veterans can’t get VA loans themselves.