Understanding the mechanics of loan assumptions and the role of escrow is crucial for home purchasers when navigating a transaction involving a conventional or VA loan assumption. A loan assumption occurs when a buyer takes over the seller’s existing mortgage...
What Are VA Loans?
As the video says, the name is misleading – they’re not loans FROM the VA.
The VA – short for “US Department of Veterans Affairs” – is the Federal military veteran benefit system.
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What Are The Major Types Of VA Loans?
Major Veterans Affairs loan programs described in this video include:
1) Purchase Loans.
These help eligible parties buy a home at competitive interest rates with little to no down payment...
What Is A Certificate of Eligibility, or COE? The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most lenders...
