December 11, 2001
By: Bev Dodd
Military loan: Low rates, the right options
Just being in the military is hard enough; you don't need the extra pressure of getting a military loan also. All our lenders understand the problems with being in the military and have a military loan option that is right for you.
(If you wish to skip military loan tips and go straight to our web site that has the lowest rates and best military loan sites on the Internet click here.)
Never prejudge your credit as too bad to get approved for a military loan because most expert lenders can usually help you resolve difficult issues. The loan program you select may help or hinder your approval. If you're having a difficult time getting approved, ask for your lender's advice. He or she may have a specialty loan program that may offer greater flexibility.
If you are applying for a military loan in the near future, here's an easy tip to help you clean up your credit report. Pay off credit cards slowly. This seems illogical but is especially true if you have been late in paying the monthly fees. If you didn't pay one card in March and in April transferred the balance to a new card, your credit report may read that you owe zero dollars and you are past due in paying it! A better strategy is to catch up, pay the minimum balance for one or two months, and then pay it off.
Check your VA eligibility if you are applying for a military loan for a new home. You have VA eligibility if you served in the military, and do not have a current VA loan. This loan was designed for Veterans to buy a home with a minimum of cash. The allowable debt-to-income ratio is higher than for conventional, meaning you can qualify for more home. There is a funding fee of 2 to 3% which is usually added on to the base loan. Only fixed rate VA mortgages are available.
more information on related products and services, please choose from the following menu of items:
Auto loans | Bad credit approval | Debt consolidation | Home buyers | Personal loan online | Refinancing
Bev Dodd is a successful author and publisher of http://www.family-refinance-consolidation-loans.com.
Many have commented that her website offers the best recommendations, links and information on loans, mortgages and financing.