We recognize that our veterans provide an invaluable service. As such, we fully support home loan programs guaranteed by the U.S. Department of Veterans Affairs that are specifically designed to support veterans and their families. Although there are many perks that come with a VA versus conventional loan, a conventional loan offers some benefits that are not available through a VA loan. Let’s compare both of these loans to determine which type is best for you.

What Is a VA Loan?

A VA loan is a great benefit for those who have contributed to their country by serving in a military capacity. It is intended to give veterans access to home loans with advantageous terms. The federal government guarantees a portion of the loan, enabling veterans to qualify for more favorable terms when working with private lenders. The VA loan program was designed to offer long-term financing to eligible American veterans or…

Kentucky VA Mortgage Loans

Why VA Loans?
First and foremost, VA loans put homeownership within reach of a wider population.
That’s because, while they’re issued and administered through a wide range of lending institutions, all VA mortgages are federally guaranteed.
Lenders consider them lower risk than other loans. That means that people with average or even below-average credit scores are more likely to be approved for a VA loan than a traditional loan.
If you have a highdebt-to-income ratioor you’ve fallen behind on your credit card payments in the past, you may be eligible for a VA loan, even if you’ve been turned down for a private mortgage in the past.
What’s more, vets and active-duty soldiers can often purchase a loan with no down payment.
Military wagesaren’t the most generous. In 2020, new service members earned as little as $19,000 per year, while themedian…

USDA Advance Copy Notice HB-1-3555 Chapter 11
USDA has announced that Chapter 11 of the HB-1-3555 will be updated and an advanced copy has been provided.  Changes will become effective after USDA issues a Special Procedure Notice.

• Clarification was addedthat revolving accounts with no outstanding balance are not required to be closed.
• USDA eliminated guidelines provided that a retained property that has been rented for 24 months or longer may be omitted from the DTI, and
• Added guidance that the income received from rents may only be included in the repayment calculation if the property has been rented for 24 mo. or more.
• Guidelines were added that monthly payment for borrowers in debt management plans must be included in the DTI.
• The calculation guidelines for Non-Fixed Student Loan Payments were updated removing the requirement for the greater of calculation to be used and added guidance for when the payment amount…