In the wake of the Gulf oil spill crisis, many mortgage companies are waiving late payment penalties and credit reporting for home owners affected. Did you know that some VA lenders are also offering help for vets affected by the crisis?
VA loans are designed to help eligible current and former military members get affordable housing. A VA loan often offers more lenient underwriting terms than many conventional loans, but qualified applicants do have restrictions on the uses of a VA home loan.
The first thing you learn as a new FHA mortgage borrower is that you can't apply for an FHA loan at just any bank. The FHA must approve lenders to offer FHA loans, FHA refinancing and homeowner bailout programs.