Tips to Consider Before Refinancing a VA Loan

Mortgage refinancing is making a buzz as interest rates continue to become favorable to eligible homeowners. As a VA home loan beneficiary, you could get unsolicited offers from mortgage lenders and other financial institutions to seize the opportunity to reduce your monthly payments. Although the U.S. Department of Veterans Affairs (VA) makes it possible for eligible VA home loan beneficiaries to fulfill their homeownership dreams, there could be situations when refinancing can make a VA home loan even more rewarding.  

Read More...

Gift Fund Guidelines for Conventional Loans

Many people find it difficult to save for a down payment to buy their first home. That’s why it’s a big help when they receive a lump sum amount of money from a loved one that they can use to fund a down payment. It’s called a gift fund. Homebuyers taking out a conventional loan are required to follow guidelines if they will use a gift fund for their down payment. Lenders may not approve the mortgage if you could not prove the source of the gift fund.

Read More...