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VA Loans and Their Application in The American Real Estate Market

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VA Loans and Their Application in The American Real Estate Market

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The VA Loan is widely considered to be a specific form of ‘special purpose’ mortgage loan and is typically for pre-approved lenders.  Furthermore, all of these loans are vetted as well as guaranteed by the U.S. Department of Veterans Affairs or the DVA. The core purpose of setting up the VA loans program was to help returning vets of the US armed forces (and sister security agencies) to be in a position to essentially purchase their very own homes. This was in response to the housing crisis of the mid-forties when US servicemen were returning from the second world war by the hundreds of thousands and were in dire need of urgent housing. These people were heroes and had put everything on the line for the service of their country. This was the least that a grateful government could do in order to ensure that these military servicemen did not end up […]

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The Basic Steps needed for an FHA Mortgage

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In order to acquire an FHA loan, one has to understand exactly what it is all about. In a nutshell, it can quite easily be described as a form of mortgage that has essentially been issued by a federally qualified lender. That means that it has been insured by the Federal Housing Administration or the FHA itself. As a general rule, almost all FHA loans have also been quite specifically designed for various types of low to moderate income earners who do not have the borrowing power of the high end borrowers who are more interested in procuring large mansions to live in. That is, FHA loans apply to those people who are not really in a position to dole out a large lump sum down payment. As a general rule, an archetypical FHA Loan is widely known for having less stringent requirements than many similar conventional (commercial) home loans. However, that certainly does not mean […]

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Yes! Getting A 100% VA Financing Loan is Still Possible

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The VA Loan is a very specific form of mortgage loan that is generally issued by pre-approved lending institutionsand are moreover, further guaranteed by the “U.S. Department of Veterans Affairs” or DVA. The core purpose of the program was to provide security deposit loan to help and support to all those returning service members who were veterans, coming back from a conflict zone. This program was initially created by the government of the United States of American, way back in 1944 as the Second World War was dying down. The main aim of disbursing such loans was to help these veterans who did not have the financial resources to apply for commercial loans and pay hefty down payments, up front. Furthermore, duly approved VA loans did not require an excellent credit score either. o No down payments required And unlike other loans (including even FHA approved financial loans) the requirement for […]

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