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Unlocking the Benefits of VA Loans: A Smart Path to Homeownership for Veterans
At LoanGoal, we’re proud to support those who’ve served our country by helping them achieve their dream of homeownership. One of the most powerful tools available to veterans, active-duty service members, and eligible surviving spouses is the VA loan—a mortgage option backed by the U.S. Department of Veterans Affairs. Here’s why VA loans are a…
Read MoreManually Underwritten VA Loans
What’s a VA Manual Underwritten Loan? When applying for a VA loan, you might be told a minimum credit score of 620, 600, or 580 is required, or that your debt-to-income ratio must be no more than 41%. This is likely because your lender did not receive automated approval from Fannie Mae and Freddie Mac…
Read MoreUtilizing Your VA Home Loan with a Credit Score Below 620
Loan Goal: Utilizing Your VA Home Loan with a Credit Score Below 620 Many lenders claim you need a 620 credit score to apply for a VA home loan. This is incorrect and is known as a Lender Overlay. The VA does not require a minimum credit score, but you will have more success with…
Read MoreWhat’s Your Loan Goal?
From first-time home buyers to seasoned veteran homeowners you should always have a Loan Goal. First-Time Home Buyers Loan Goals: Purchasing a Primary Residence: The main Loan Goal is to buy a home to live in. Programs like FHA loans, VA loans, and USDA loans can help with low down payments and favorable terms. Building…
Read MoreVA Cash-Out Loans to 100% “Loan To Value” (LTV) with 500 Credit Scores: What You Need to Know
A VA loan with 100% Loan-to-Value (LTV) cash-out refinance allows eligible veterans and service members to refinance their existing home loan and take out cash from their home’s equity. Here are the basics: What is a VA Cash-Out Refinance? A VA cash-out refinance replaces your current mortgage with a new one, allowing you to take…
Read MoreVA Loans for 500 Credit Scores: What You Need to Know
VA loans with 500 credit scores means you may have to meet the VA Manual Underwriting guidelines VA manual underwriting basics with a 500 credit score; 24 months’ rent history is a must Cancelled checks Third-Party Management Company Private Party Verification Rent-free living with family Credit Report History No late payments in the past 12…
Read MoreHow to Improve Your Chances of Getting a VA Loan with a Low Credit Score
The VA technically does not have a minimum credit score in their underwriting guidelines. However, improving your credit score can result in a better interest rate and lower closing costs. Tips and strategies for boosting credit scores to increase eligibility for VA loans. Keep your credit balances low and payments on time If you do…
Read MoreTransform Your Space with These Cool Summer Home Improvement Ideas
Summer is the perfect time to refresh and revitalize your home. Whether you’re a homeowner looking to upgrade your space, a DIY enthusiast eager for a new project, or an interior design lover searching for inspiration, this guide offers exciting ideas to make your home both functional and fabulous. Here, we’ll explore innovative ways to…
Read MoreBeat the Heat and Save Money this Summer – Smart Tips for Cutting Down Home Utility Bills
Summer’s here, bringing long sunny days, outdoor fun, and unfortunately, higher utility bills. For homeowners and renters alike, keeping cool without overspending on water and electricity can be a real challenge. But don’t worry! We’ve got you covered with practical tips to help you save on home utilities during the summer heat. In this blog…
Read MoreWhat’s your Loan Goal…
In life you need to have goals. What’s the goal… Run a marathon, start a business, have a positive impact on the word. All great goals that you will more than likely seek guidance from an expert who can help you achieve those goals. What about the goal of owning a home, that is where…
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