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Difference between a VA Guaranty and a VA Loan

There are a few misconceptions when it comes to a VA guaranty and a VA loan. A VA loan is not made by the United States Department of Veterans Affairs. It is made by a bank, a mortgage company or one of various private lenders. A VA guaranty concerns the amount of a VA loan that the VA will guarantee the lender will not lose if a borrower defaults on the loan.
VA Guaranty Limits

When a lender provides a VA loan to a qualified military member, the VA will guarantee only 50 percent of... more

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Mortgages

In addition to mortgage loans for home purchases, there are also other loans available for various purposes that use the home for collateral.

Rates

Mortgage interest rates are determined by credit history strength, the number of points you pay, the size of your down payment and the type of loan program you choose.

Home Buying

Obtaining funding is crucial to buying a home. This requires applying for a mortgage, choosing a house that meets the appraisal standards, and determining the amount of the down payment.

Loans

There are dozens of different types of mortgage loan programs. They have been created to suit the varying needs of homebuyers.

Moving

When making a big move, it's essential to find out as much as possible about the schools, the neighborhoods, the housing costs and the community resources.

MORE MORTGAGE ARTICLES

3 Reasons Lenders Want to Avoid Foreclosures

Lenders want to avoid foreclosures just as much as the borrower. Here's why. more

Alternatives to Getting a 2nd Mortgage

There are several alternatives to getting a 2nd mortgage for homeowners who need cash. Whether a borrower wants to put their assets on the line as collateral and has good credit, there are options. A home equity line of credit is one main alternative to a 2nd mortgage. This line of credit would equal the value of the property minus the amount due on the original mortgage. more

Choosing a Loan Program

Choosing the right mortgage loan is a matter of deciding how long you plan to stay in the house, how much interest you want to pay in the long run, and how much you can afford in monthly payments. more

The Mortgage101 Blog

FROM THE MORTGAGE101 BLOG

Existing Homes Sales Fall Again, New Home Sales See Some Gains

Sales of existing U.S. homes slumped again in June, notwithstanding mortgage interest rates fell to an all-time record low average of 4.74 percent during the month, according to Freddie Mac. The National Association of Realtors reports that sales, including single-family, townhomes, condos and co-ops, fell by 5.1 percent in last month to a seasonally-adjusted annual rate... more