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The definition of a VA mortgage loan is a loan that is guaranteed by the Veterans Administration. The purpose of this loan is to assist veterans and their families in obtaining home financing.
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What is the definition of a reverse mortgage?
The meaning of reverse mortgage (lifetime mortgage) is when a senior citizen who owns a home wants to convert the equity in their home to monthly income or some sort of line or credit.
What is the definition of the term debt capital?
Debt capital is the money a business receives when it takes out a loan. The holders of the loan do not become share holders of the company; they are considered to be creditors.
What is the definition of a remortgage deal?
Remortgage is the same as refinance. It entails paying off one mortgage using a second, but the second uses the same home as a security. It can get you a better interest rate on your mortgage, so you pay less over time.
What is the definition of a home equity line of credit?
A home equity loan is a loan that homeowners can get based on the equity that they have in their homes. This amount is based on the value of the house and how much they have left to pay on the home loan.
What is the definition of a tradeline?
A tradeline is basically a line of credit. When a person is given a loan with an increasing credit limit, this is a tradeline.
Does the VA guarantee their mortgage loans?
Yes, a VA mortgage loan is guaranteed. A VA loan is a mortgage loan guaranteed by the US Department of Veterans Affairs.
What is the definition of a VA home loan?
A VA home loan is a type of mortgage loan made by an approved lender and guaranteed by the Department of Veterans Affairs. These loans are typically made available to eligible veterans and people currently serving in the military. VA loans differ slightly from a standard mortgage, because they are provided through a private lender but the federal government guarantees a portion of the principal. Therefore, if the borrower defaults on the loan, the lender is protected because the Department of Veteran Affairs backs the loan.
What is a VA home loan calculator used for?
A VA home loan calculator is used by military veterans to calculate their eligibility for a home loan such as a mortgage from a financial institution.
What are the going rates if I want to refinance my va mortgage loan?
The rates to refinance a va mortgage loan varies. It depends on the mortgage company and the individual obtaining the mortgage. The rates for refinancing vary depending on a variety of factors. Your should talk to your mortgage company or a financial consultant to help in this endeavor.
Can a Veteran obtain a VA Mortgage Loan to purchase a condo on the ocean with 1/3rd down payment?
Can a Veteran obtain a VA Mortgage Loan to purchase a condo on the ocean with one-third down payment?
I am wondering what is the definition of a reverse mortgage?
The definition of reverse mortgage is when the bank takes out a loan based on your property. This is used for extending your mortgage beyond what it is now.
What benefits does a VA home loan offer that other home loans do not offer?
VA home loans are one of the only loan programs that do 100% financing. Also, because the loan is backed by the government, it is not necessary to my PMI (mortgage insurance). Therefore, your monthly mortgage payments are substantially less than with a conventional loan.
What does it mean to get a home loan?
It means you're getting a mortgage. For the definition of mortgage, see the related link below.
What is definition fix terms?
To establish terms of an agreement like a loan or mortgage.
What is the toll-free number for information on VA mortgage loans with Quicken Loans?
A toll-free phone number to call for information on VA mortgage loan programs with Quicken Loans is 877-588-4730.
What is the difference between VA mortgage loan interest rate and conventional rates?
VA rates are about the same as FHA. FHA is about the same as conventional or within .25% of conventional. The key with VA is that you don't have any mortgage insurance premiums as you would with FHA and conventional loans when putting a downpayment of less than 20% when purchasing a home. VA is also a zero downpayment loan.
Where do i go to refinance a mortgage loan in va?
To refinance a mortgage, you can go to your bank or any other bank and apply for a REFI loan. You can also visit a site like lendingtree.com and apply there for the best available rate.
