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Financing & Insuring

Financing & Insuring

What is a VA Loan?

November 9, 2018

A VA home loan is a mortgage loan guaranteed by the Department of Veterans Affairs. It was designed to help the men and women of the U.S. armed forces buy, refinance or improve their homes. Because VA mortgages are backed by the government, the risk to lenders is low—allowing them to offer VA loan rates that are generally more favorable than conventional loan rates. Other benefits of VA loans may include: Purchasing a home with no down payment, subject to VA guidelines in your area.…

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Financing & Insuring

The Truth About Mortgage Rates

November 5, 2018
Loan Application

Afraid you’ve missed the best rates? Good news: They’re still great! You’ve probably heard that mortgage rates are on the rise—and may climb higher soon. That doesn’t mean that now isn’t a smart time to buy. See how this year’s rates stack up against historical averages. The takeaway: Minor rate fluctuations don’t have to be the deciding factor in a new home purchase. Concentrating on factors you can control (your savings, your credit score, your employment record) may help more than waiting for a lower…

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Financing & Insuring

Who can qualify for a VA loan?

September 18, 2018

Zero money down.* Limited closing costs. No monthly mortgage insurance premiums. Borrower’s choice of a fixed-rate or adjustable-rate mortgage. Sounds nice, right? They’re all potential perks of financing your home with a VA loan, but you have to belong to a very particular subset of homebuyers in order to qualify for one. To assess your eligibility, see if any of the following criteria describes you. ☐ Active member of the military ☐ Military veteran ☐ Served in the Selected Reserves or National Guard for at…

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Financing & Insuring

How to Save Money for a Down Payment: 7 Strategies

September 14, 2018
House with coins and dollars

Saving for a down payment on a new home might feel daunting, but small daily changes can make a big difference when it comes to setting aside money for a large purchase. We rounded up seven strategies that make it simple to streamline your spending and save up for your dream home—and it’s a lot easier than you think! Shop smart It’s tempting to toss anything that looks good into your grocery cart, but the price of all those products adds up quickly. Instead, plan…

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Financing & Insuring

First Steps for Buying a Home After Foreclosure

August 1, 2018
Family sitting on sofa

It’s already been a decade since the start of the Great Recession, and many former homeowners sidelined by foreclosure are ready to jump back in the market. If you’re one of them, first of all, hooray! Secondly, we’ve listed a few good first steps to help you navigate the process of buying after foreclosure. We hope they help you on your journey back to homeownership. Review foreclosure waiting periods No matter how well you’ve reorganized your finances and reestablished credit, you will probably have a…

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