Is it true that a VA Home Loan is not assumable?  I want to sell my house and buy another one, but I have heard that a VA loan cannot be assumed unless it is by another veteran with entitlement money left.

Click to continue - Assuming a VA Home Loan

I am a veteran, so I automatically get my VA Home Loan when I apply – right?

This is a common misconception among veterans and the general population.  It stems from the fact that many people think that the Veterans Administration is the lender for their VA Loan.  In truth, the VA is a guarantor for up to 25% of the loan, but they are not in the business of making veterans home loans.  Their role in the process is to verify that you have the entitlement necessary to receive the guaranty – not the loan.

Click to continue - VA Loan Mythbusters - #5

The concept of the VA Home Loan originated prior to the Revolutionary War.

Click to continue - VA Home Loan History 101

"Just bring us your mortgage and we will refinance it for pennies on the dollar."  We have all heard these claims made on television commercials and infomercials.  There are so many types of loans out there today that it is hard to decide what kind of loan you need.  If you believe what you hear from the television commercials, there are loans to be had at percentage points below the standard rate.  To top it all off, many of them make it sound like there is no qualifying to go through.  If that is the case, why would I get a VA Loan?

Click to continue - Why VA?