3 things you should know about VA loans in 2021

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Here at the start of 2021, we wanted to let you know about some of the big things affecting VA loans this year. Many of these things are continuations of policies made last year that were done in response to the coronavirus pandemic, and they will continue into this year as long as the pandemic persists.

For starters, many lenders still have COVID-19 restrictions and overlays. At Low VA Rates, we've had to put a minimum credit score overlay into place so that we can work with others in the industry once your loan is complete. However, the good news about 2021 is that we've already gotten rid of the minimum FICO for IRRRLs, and there's a good chance we'll eventually be able to get rid of it for cash-outs and purchases, too.

The other two big things you should know involve the ending of the CARES Act forbearance period and the continuation of low interest rates. We give more details on how these things will affect VA loans this year in the video, so make sure you watch it all the way through!

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This video is not intended for residents or homeowners in the states of WA, NY, or MA.

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Видео 3 things you should know about VA loans in 2021 канала Low VA Rates