VA Home Loan Specialist

Tim Lewis

NMLS #157603
VA Loan Team Manager &
veteran of Operation Iraqi Freedom

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VA Mortgage FAQ's

What are the differences between VA loans and FHA loans?

So many borrowers want to know how the VA and FHA loan programs differ.  When comparing FHA and VA loan programs, most people want to know the differences in down payment requirements, fees, interest rates, mortgage insurance, prepayment penalties, and qualifying standards. VA loans typically have: No down payment ... View FAQ

Who decides if I qualify -- the VA or my lender?

When it comes to approving or denying a VA loan application, many ask whether this is up to the Department of Veterans Affairs or to the VA-approved lender.  Ultimately it's the lender that determines if it is willing to make a VA loan.  In order for the loan ... View FAQ

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Featured Special Topics

Checklist: Reasons for a VA Refinance Loan

To refinance or not to refinance, that is the question for many borrowers. Sometimes refinancing a mortgage can make sense.  In fact, there are many good reasons to refinance a home loan.  Using a checklist may help military members decide whether now is the time for a VA refinance loan.  Answering yes to one or more of the following questions may mean that a refinance is worth looking into:

• Can a VA refinance be used ...

Debt-to-income, Residual Income and Credit Qualifications for VA Loans

The VA Home Loan Program enables a qualifying veteran to purchase a primary residence with no money down. When qualifying for a VA Loan, a VA-eligible borrower must show the lender that he or she has the ability to pay. The VA qualifying standards include income debt-to-income ratio, the borrower’s residual income and FICO scores. Of course, lenders vary and each may have additional qualifying requirements.

The debt-to-income figure is a ratio of a borrower’s debt to his or ... Read More

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