What Is A Rate Lock?

What Is A Rate Lock?   Mortgage rates change constantly through an unpredictable combination of government policies and economic conditions. This video explains the common term ‘rate lock.’ A “Rate Lock” is a guarantee that a lender will honor a...

What Is A Certificate of Eligibility, or COE?

What Is A Certificate of Eligibility, or COE?   The COE is the key document that verifies to lenders that someone is eligible for a VA-backed loan. Servicemembers, Veterans and National Guard and Reserve members may apply online or through their lender; most...

What Are The Major Types Of VA Loans?

What Are The Major Types Of VA Loans?   Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at competitive interest rates with little to no down payment and little or no private mortgage...

What Are VA Home Loans?

What Are VA Loans?   As the video says, the name is misleading – they’re not loans FROM the VA. The VA – short for “US Department of Veterans Affairs” – is the Federal military veteran benefit system. The VA administers benefits and services for...

When Do I Get My Loan Closing Disclosure?

When Do I Get My Loan Closing Disclosure?   If an eligible loan proceeds from Estimate to closing, creditors must provide a Closing Disclosure form documenting the actual transaction terms and costs THREE business days before consummation. It must be in writing,...