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Does Budget Matter When Getting a VA Home Loan?

Forecasting your expected income and expenditures is important when a new home is in your future. Those applying for a VA home loan should pay special attention to their budgets because it is up to them to figure out if they are ready to spend more on housing. Who Makes the Budget? Lenders don’t actually have access Read the full article…

Should My Agent Specialize in VA Loans?

Having an real estate agent that understands the VA loan process is crucial. This is because there is a difference between using a conventional loan, FHA loan, a USDA loan as compared to a VA home loan. There are actually some additional bonuses to purchasing a new home with a VA home loan, and an agent who understands these Read the full article…

Is There a Credit Score Requirement for a VA Loan?

Keeping track of your finances and getting in the habit of paying bills on time can set you up for a good future. These simple tasks can really effect your credit score and ultimately your loan eligibility. Your credit score is important when applying for a VA home loan. A credit score is basically the Read the full article…

Pre-Approval vs Pre-Qualification

If you are a veteran beginning a new home search, the processes of pre-qualification and pre-approval are in your future. Many people make the mistake of thinking if a lender pre-qualifies them for a mortgage that they are automatically pre-approved for a home loan. Unfortunately, that isn’t the case, but how these two terms differ can easily Read the full article…

Is a VA Loan a One-Time Benefit?

Many people think that they can only use their VA benefits once, but the truth is you have them for as long as you live. Many people also believe that if they received a VA loan 5, 10, 15 years ago they can’t apply for another one. That is also untrue. Your VA benefits are Read the full article…

Will job gaps be a problem when applying for a VA loan?

Before you apply for a VA-Guaranteed loan, it is important to ensure you or a loved one has met the employment requirements determined by the Department of Veteran Affairs. These requirements require a veteran to have at least 2 years of consistent, full-time employment. This steady employment is required simply because a consistent job is Read the full article…

What is a COE Certificate of Eligibility & Should I Start With One?

Certificate of Eligibility (COE) Requirements Are you or your loved one a veteran or active duty military member trying to figure out the confusing world of VA Home Purchasing and VA Refinancing? You’re in the right place for qualifying for a VA loan. We are VA Loan Spot, and we make it easy. The first Read the full article…

What Should I Look for in My Credit Report Before Applying?

Your Credit Report Before you apply for a VA loan from VA Loan Spot, there are important factors to consider one of which is your credit report. “What should I look for in my credit report before applying?” There is an expansive array of free credit reports out there for your use. Credit Karma and Read the full article…

I have my free credit report, where can I see my credit score?

When you pull your free credit report, it can be hard to find your actual credit score. What you’ll see, usually, is your credit history. Then, either at the very top or very bottom of your report, depending on where you pull it from (Equifax, Transunion, Experian), you will find your credit score. It might Read the full article…

Should I Rent or Buy a Home?

Buying a home part of the American dream. And, for the majority of us, it’s the biggest financial investment we’ll ever make. At some point in our lives, most people face the question “Should I rent or buy a home?” All too often, this question is not properly answered. What should be considered when deciding Read the full article…