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You’ve used the VA home loan benefit and your home was foreclosed or sold in a short sale, but repaid the VA in full. Why VA loans don’t require a down payment
For 2024, the limit in most counties is $766,550. In more expensive areas, that limit can go up to $1,149,825. Lastly, you can only use a VA loan with a primary residence; investment properties ...
FHA loan – The short sale waiting period on FHA loans is typically three years, unless you can prove extenuating circumstances, which could shorten the wait to one year. You may also be able to ...
A VA loan is a mortgage loan in the United States guaranteed by the United States Department of Veterans Affairs (VA). The program is for American veterans, military members currently serving in the U.S. military, reservists and select surviving spouses (provided they do not remarry) and can be used to purchase single-family homes, condominiums, multi-unit properties, manufactured homes and ...
VA loans also offer more flexibility if you’ve encountered financial challenges — such as having declared bankruptcy or sold a home in a short sale, for example.
VA home loans come with generous terms. But don’t assume the lender is giving you a free pass. ... That appraisal is the VA’s way of making sure the sales price for your soon-to-be home doesn ...
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