The final part of our Illinois VA Loans series will explain different credit issues that may be discussed and questioned during the application process. Lack of CreditIt is possible for a veteran that has never borrowed money to obtain a VA mortgage. If the veteran can show consistent and promp
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12/21/2011
In this part of our Illinois VA Loans series we will explain the VA Funding Fees. The Funding Fees are assessed on all VA mortgages whether it is a purchase or a refinance loan. First time buyers will be asked to pay 2.15% of the total loan amount if they get a mortgage with no down payment. The
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12/21/2011
In this part of our Illinois VA mortgage loan series we will explain the debt to income ratios used to qualify a borrower for a VA home loan. 41% is the Magic NumberThe ratio is a fairly simple math formula. The first step is to determine the borrower’s monthly gross income. This is income from
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12/21/2011
