Comments on: How To Get A Home Loan After Bankruptcy http://www.askmrcreditcard.com/creditcardblog/how-to-get-a-home-loan-after-bankruptcy/ Latest Credit Card News, Reviews and Information Sat, 07 Nov 2009 23:38:59 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: kevin.eb http://www.askmrcreditcard.com/creditcardblog/how-to-get-a-home-loan-after-bankruptcy/comment-page-1/#comment-101587 kevin.eb Thu, 19 Mar 2009 22:31:41 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=2462#comment-101587 In 1944 the VA began assisting Veterans in the goal of becoming homeowners. Since then, the VA has guaranteed over 18 million home loans. The VA does not lend the money, rather the VA promises to repay a portion of the loan to the lender if the borrower defaults. So why should a Veteran choose a VA Loan over a conventional home loan? There are a number of reasons, but most Veterans who have used a VA Loan say the number one benefit is that there is no down payment required. Another noteworthy benefit is that VA Loans tend to have lower interest rates than conventional loans, and they are easier to qualify for as well. Recent research shows that over 80% of VA Home Loan borrowers could not have qualified for a conventional loan. The VA offers these looser qualification requirements for Veterans because of their understanding of the sacrifices Veterans have made for our country; it’s a nice way of saying “thank you.” Because of the guaranty from the VA lenders are also much more likely to approve higher-risk borrowers. Another reason to choose VA Loans is because borrowers do not have to pay private mortgage insurance (PMI). When the VA guarantees a loan, they are taking on the responsibility for that loan if it defaults. Since the VA has made this promise, Veterans do not have to bear the burden of mortgage insurance payments. Without a substantial down payment for their loan, many borrowers utilizing conventional financing do NOT get this great cost-saving benefit ================================================================= kevin <a href="http://equity.talkingfinancing.com" rel="nofollow">Equity Credit Loans</a> In 1944 the VA began assisting Veterans in the goal of becoming homeowners. Since then, the VA has guaranteed over 18 million home loans. The VA does not lend the money, rather the VA promises to repay a portion of the loan to the lender if the borrower defaults.
So why should a Veteran choose a VA Loan over a conventional home loan? There are a number of reasons, but most Veterans who have used a VA Loan say the number one benefit is that there is no down payment required.
Another noteworthy benefit is that VA Loans tend to have lower interest rates than conventional loans, and they are easier to qualify for as well. Recent research shows that over 80% of VA Home Loan borrowers could not have qualified for a conventional loan.
The VA offers these looser qualification requirements for Veterans because of their understanding of the sacrifices Veterans have made for our country; it’s a nice way of saying “thank you.” Because of the guaranty from the VA lenders are also much more likely to approve higher-risk borrowers.
Another reason to choose VA Loans is because borrowers do not have to pay private mortgage insurance (PMI). When the VA guarantees a loan, they are taking on the responsibility for that loan if it defaults.
Since the VA has made this promise, Veterans do not have to bear the burden of mortgage insurance payments. Without a substantial down payment for their loan, many borrowers utilizing conventional financing do NOT get this great cost-saving benefit

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kevin

Equity Credit Loans

]]> By: Desiree http://www.askmrcreditcard.com/creditcardblog/how-to-get-a-home-loan-after-bankruptcy/comment-page-1/#comment-94037 Desiree Sat, 03 Jan 2009 07:25:32 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=2462#comment-94037 Is there any possibility of getting a home loan sooner than 2 years after a bankruptcy discharge? My husband and I have continued to make car payments, have great payment history with the credit cards that we opened after we filed, and also have steady verifiable incomes. Is there any hope? Is there any possibility of getting a home loan sooner than 2 years after a bankruptcy discharge? My husband and I have continued to make car payments, have great payment history with the credit cards that we opened after we filed, and also have steady verifiable incomes. Is there any hope?

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