Does A Bankruptcy Mean I Can’t Get A VA Loan?

If you’re wondering whether or not you can get a VA loan after a recent bankruptcy, you’re not alone. With the recent economic recession just barely behind us, many veterans and military personnel are now in the position of looking for a new mortgage after having gone through a bankruptcy.

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What Is A Statement Of Service Letter?

When veterans apply for a VA loan they are required to provide a Statement of Service letter, otherwise known as a SOS. A Statement of Service is a document which verifies that you are either an active military member, or are retired with at least 6 years of active service prior to retirement or discharge.

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How Is A VA Loan Guaranteed?

When an eligible current or ex-servicemember needs to purchase a home for their own personal use, they can obtain a VA Guaranteed loan from a bank, mortgage lender, or savings & loan company, depending on the circumstances.

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Low Credit Scores Will Cost You Even More Come April 2011

Fannie Mae is reconsidering the the risk involved in lending to homeowners with lower credit again. Almost across the board it will become more expensive for borrowers who do not have close to perfect credit. The expense will either come in the form of higher interest rates or higher closing costs. Both Fannie Mae and […]

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