1) What is a VA Home Loan? 1) What is a VA Home Loan? 2) What are the benefits of a VA home loan? • Buyer informed of reasonable value. 3) Does my VA eligibility guarantee I will get a new home loan? 5) What will you look at when I apply for a mortgage? • Income and Debt: How much money you make and what other bills you have to pay helps us determine whether you can afford to make mortgage payments. 6) How much time does it take to close? • How quickly do you want to close? 7) May a veteran join with a non veteran who is not his or her spouse in obtaining a VA loan? 8) What will my mortgage payments include? • Principal: the total outstanding balance of the loan (interest not included). 9) What closing costs will I have to pay? • Lender Fees: Included in these are appraisal fees, credit report fees, origination points and discount points. 10) What documents do I need to provide ? • Pay stubs covering the most recent 30 day period. • Photo ID and evidence of Social Security Number. 11) What are discount points and should I pay them? 12) How do I know how much house I can afford? 13) What is the difference between a fixed-rate loan and an adjustable-rate loan? 14) How do I know which type of mortgage is best for me? 15) How much cash will I need to purchase a home?
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