You think you’re the head of the class when it comes to types of home loans? Well consider this your extra credit, because we examine balloon mortgages in this week’s Know Your Mortgage.
Tag Archives | VA Loan
May 18 marks the third Saturday of the month of May. While this may seem just like an ordinary day to you or me, it’s actually Armed Forces Day – a day designated to celebrate the men and women of the Armed Forces.
Every week it seems like the VA Unit banking team in Cleveland is up to something. They’re so involved in the veteran community that I have to be on my game 24/7 just to be able to keep up. It’s a good thing for them I welcome the challenge. The team’s most recent endeavor was in support of our partnership with Operation Homefront for their Back to School Brigade.
Last year, some of the elite forces of our VA loan unit showed the Tough Mudder who’s boss, and this year was no different. Tough Mudder 2013 was conquered in support of, and in honor of, our partners at Paralyzed Veterans of America. The course was also conquered with the overall goals of Tough Mudder in mind which support and encourage participants to raise money for the Wounded Warrior Project – a cause that’s also close to our hearts at Quicken Loans.
In 1986, then Defense Secretary Caspar Weinberger declared every April as the Month of the Military Child as a way to honor and celebrate the resilience of those children who have a parent or parents in the military.
By now you probably know that at Quicken Loans, we provide expert advice and amazing client services. And you should know how we also support veterans organizations like Paralyzed Veterans of America because we really care about the men and women who serve in our country’s armed forces. We have partnered with Paralyzed Veterans of America in support of their Mission: ABLE project. Recently, their national president, Bill Lawson, stopped by our Cleveland office to take a tour and learn about what we do on a day-to-day basis.
While VA mortgages have more relaxed guidelines than other mortgages, there are some requirements specific to VA loans, like wood-boring pest inspections.
One of the requirements of receiving a VA loan is that you must have an appraisal performed on the property. What does this mean for you? If you are a first-time homebuyer, or if this is your first VA loan, the idea of getting an appraisal can be daunting. But, if you remind yourself that the appraisal process is there to protect you, the buyer, from paying more than fair-market value for your home, then it actually becomes quite painless.
One of the things that makes me so proud of working at Quicken Loans and with our awesome VA loan experts is how much they – we – care about supporting veterans outside of our normal work day. Just recently, Quicken Loans has become a sponsor of the Paralyzed Veterans of America (PVA) Mission: ABLE campaign.
A VA loan is an incredible benefit for veterans or active duty service members. Unfortunately, many people who are eligible to receive this benefit aren’t aware they qualify, and most of those who aren’t aware are found in the Reserve and National Guard.