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You understand and agree that if you submit an inquiry or ask for additional information on this site, we will share your personal information with our network of clients including but not limited to: mortgage bankers, mortgage brokers, credit consultants, insurance brokers or any other business in our client network that may be related or unrelated to the service or product you have expressed interest in. Different types of businesses related or unrelated to your inquiry may be provided your information and may contact you.
We do not charge you a fee to use this site/services. You understand that requirements to qualify for a particular loan product are made by the client network and we do not endorse, warrant, or guarantee such results. We are not a mortgage lender, debt servicer, debt settlement, real estate company, insurance agent, auto sales company or automotive warranty organization. Your inquiry is not intended to be, any type of application for any financial product.
Prior to submitting your inquiry, you will consent to receive autodialed or prerecorded calls (including to mobile numbers) and texts and emails from us and any affiliates, partners, and vendors to the phone numbers (including mobile numbers) and email addresses you provide to us and to any phone numbers or email addresses subsequently associated with you by us or any affiliates or marketing partners, affiliates or vendors. Message and data rates may apply. You understand and agree that your consent is not a condition, directly or indirectly of any purchase.
Licensed organizations who may contact you are subject to Federal and State laws and regulations for their practices. Please review the privacy practices of all third parties who contact you. If you have any questions regarding their practices, please contact them directly.
This site/services are not intended for the use of minors. You certify to us that:
Your use of this site/service is subject to all applicable federal, state, and local laws and regulations.
Prohibited Use: You shall not use this site/service for any illegal purpose or for the transmission of any unlawful material or material that is abusive, harmful, harassing, libelous, racially or ethnically offensive, invasive of another's privacy, obscene, threatening, vulgar, sexually explicit, tortious, defamatory, or that infringes or may infringe on the intellectual property or rights of another, or in a reasonable person’s view objectionable; directly or indirectly interfere, or attempt to interfere with the proper working of this system, site, or service including system integrities or securities; interference of any account, or any communication or transaction being conducted on this site/service; the use of any robot, spider, other automatic device, or manual process to monitor or access or copy our web pages or any content without our prior expressed written permission; take any action which imposes an unreasonable or excessively large load on our infrastructure; upload, post, transmit, submit, email or make available by any other means any data or content protected under any law or contractual relationship that you do not have the right to distribute; any conduct of fraud, representing yourself as someone else or hiding or attempt to hide your identity; and interference or attempt to interfere with the proper working of this site/service.
Copyright and Trademark Notice Information: Our site/services contains intellectual property owned by us and other parties. As for the relationship between you and us; we are the sole owner of the site/services and all materials on or available through our site/services including without limitation, all applicable U.S. and non-U.S. copyrights, trademarks, patents, trade secrets, and other intellectual property rights thereto (collectively “site/services Content”). Except as otherwise specifically provided in this Agreement, you may not download or save a copy of the site/services , content or any portion thereof, for any purpose; however, you may print a copy of individual screens appearing as part of the site/services Content solely for your personal records, or non-commercial use provided that our marks, logos or other legends that appear on the copied screens remain on, and are not removed from the printed or stored images of such screens. Except as otherwise expressly permitted herein, you may not modify, copy, publish, display, transmit, adapt or in any way exploit any portion of our site/services content unless you first obtain prior written consent from us and from all other entities with an interest in the relevant intellectual property. Any unauthorized attempt to modify our site/services Site/services content, to overthrow or elude our security features, or to utilize our site/services for other than its intended purposes is strictly prohibited.
THE CONTENT AND ALL SERVICES ASSOCIATED WITH OUR SERVICES ARE PROVIDED TO YOU ON AN \"AS- IS\" AND \"AS AVAILABLE\" BASIS. WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF OUR SERVICES OR THE INFORMATION, CONTENT, MATERIALS, SERVICES INCLUDED ON OR ASSOCIATED WITH OUR SERVICES INCLUDING ANY FINANCIAL PRODUCT YOU MAY CHOOSE. YOU EXPRESSLY AGREE THAT YOUR USE OF OUR SERVICES IS AT YOUR SOLE RISK.
WE DO NOT MAKE, AND EXPRESSLY DISCLAIM, ANY REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED, REGARDING THE ACCURACY, CORRECTNESS, OR COMPLETENESS OF THE CONTENT OR THE SERVICES OR THE SAFETY, RELIABILITY, TITLE, TIMELINESS, COMPLETENESS, MERCHANTABILITY, CONFORMITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE CONTENT OR THE SERVICES AND PRODUCTS ASSOCIATED WITH OUR SERVICES. IT IS YOUR SOLE RESPONSIBILITY TO INDEPENDENTLY EVALUATE THE ACCURACY, CORRECTNESS OR COMPLETENESS OF THE CONTENT AND THE SERVICES AND PRODUCTS ASSOCIATED WITH OUR SERVICES AND ANY LOAN YOU ACCEPT. WE MAKE NO REPRESENTATION, WARRANTY OR GUARANTEE THAT THE CONTENT OF OUR SITE/SERVICES MAY BE AVAILABLE FOR DOWNLOADING FROM OUR SERVICES IS FREE OF ANY VIRUSES, WORMS, TROJAN HORSES, TRAP DOORS, BACK DOORS, EASTER EGGS, TIME BOMBS, CANCELBOTS OR OTHER CODE OR COMPUTER PROGRAMMING ROUTINES THAT CONTAIN CONTAMINATING OR DESTRUCTIVE PROPERTIES OR THAT ARE INTENDED TO DAMAGE, DETRIMENTALLY INTERFERE WITH, COVERTLY INTERCEPT OR SEIZE ANY SYSTEM, DATA OR PERSONAL INFORMATION. WE DO NOT MAKE ANY REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED, REGARDING ANY QUOTES OR OFFERS PROVIDED ON OR THROUGH OUR SERVICES.
WITHOUT LIMITING THE FOREGOING, YOU ACKNOWLEDGE AND AGREE THAT WE ARE NOT A LENDER, BROKER, INVESTOR, FINANCIAL INSTITUTION OR OTHER SERVICE PROVIDER. YOU ACKNOWLEDGE AND AGREE THAT WE ARE SOLELY AN INTERMEDIARY BETWEEN YOU AND SUCH PERSONS OR INSTITUTION AND, THEREFORE, WE EXPRESSLY DISCLAIM ANY AND ALL LIABILITY FOR ANY CONTENT, SERVICES OR LOANS PROVIDED BY SUCH SERVICE PROVIDERS.
We are not responsible for any incorrect or inaccurate information or entry of information, whether caused by a user of our site/services or by any of the equipment or programming associated with or utilized in connection with our site/services or any Services provided on or through our site, or by any technical or human error which may occur in the processing of information received by us. We assume no responsibly for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or authorized access to, or alteration of, information received or submitted in connection with our site/services. We are not responsible for any problems, errors or technical malfunction of any telephone network or lines, computer on-line systems, servers or providers, computer equipment, or software, or any failure of email on account of technical problems or traffic congestion on the Internet or at our site/services or combination thereof, including injury or damage to participants or to any other person’s computer related to or resulting from use of our site/services or site/services Content.
YOU HEREBY AGREE TO RELEASE, REMISE AND FOREVER DISCHARGE SUITED CONNECTOR AND ITS SERVICE PROVIDERS AND EACH OF THEIR RESPECTIVE AGENTS, DIRECTORS, OFFICERS, EMPLOYEES, INFORMATION PROVIDERS, AND EACH OF THEIR RESPECTIVE AGENTS, DIRECTORS, OFFICERS, EMPLOYEES AND ALL OTHER RELATED, ASSOCIATED, OR CONNECTED PERSONS FROM ANY AND ALL MANNER OF RIGHTS, CLAIMS, COMPLAINTS, DEMANDS, CAUSES OF ACTION, PROCEEDINGS, LIABILITIES, OBLIGATIONS, LEGAL FEES, COSTS, AND DISBURSEMENTS OF ANY NATURE WHATSOEVER WHETHER KNOWN OR UNKNOWN, WHICH NOW OR HEREAFTER EXIST, WHICH ARISE FROM, RELATE TO, OR ARE CONNECTED WITH YOUR USE OF THE SERVICE.
LIMITATION OF LIABILITY
IN NO EVENT WILL WE, OUR SUBSIDIARIES, PARTNERS, AGENTS, AFFILIATES, LICENSORS, SUCCESSORS AND ASSIGNS AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AND EMPLOYEES AND SHAREHOLDERS BE LIABLE TO ANY PARTY (i) FOR ANY INDIRECT, DIRECT, SPECIAL, PUNITIVE, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF BUSINESS PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR INFORMATION, AND THE LIKE), OR ANY OTHER DAMAGES ARISING IN ANY WAY OUT OF THE AVAILABILITY, USE, RELIANCE ON, OR INABILITY TO USE THE SITE/SERVICES OR SITE/SERVICES CONTENT, EVEN IF ALL SUCH PARTIES SHALL HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE; OR (ii) FOR ANY CLAIM ATTRIBUTABLE TO ERRORS, OMISSIONS, OR OTHER INACCURACIES IN, OR DESTRUCTIVE PROPERTIES OF THE SITE/SERVICES OR THE SITE/SERVICES CONTENT. YOU AND WE AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO OUR SERVICE MUST COMMENCE WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED.
SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, OUR LIABILITY IN SUCH JURISDICTION SHALL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
ARBITRATION AGREEMENT AND CLASS ACTION WAIVER- This arbitration provision limits your and Suited Connector’s ability to litigate claims in court and you and Suited Connector each agree to waive your respective rights to a jury trial or a state or federal judge. You agree that you will not file any lawsuit against us in any state or federal court.
BY ACCESSING AND/OR USING ANY SUITED CONNECTOR SITE/SERVICES OR SERVICES, YOU AGREE TO THESE TERMS AND CONDITIONS OF THIS ARBITRATION AGREEMENT. DO NOT USE SUITED CONNECTOR SERVICES OR SUBMIT ANY CONTACT INFORMATION IF YOU DO NOT AGREE TO THESE TERMS.
THIS AGREEMENT IS BINDING TO ARBITRATE ALL CLAIMS. YOU AGREE THAT DISPUTES BETWEEN YOU AND SUITED CONNECTOR WILL BE RESOLVED BY BINDING, INDIVIDUAL ARBITRATION AND YOU WAIVE YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT OR CLASS-WIDE ARBITRATION.
THIS AGREEMENT PROVIDES THAT ALL DISPUTES BETWEEN YOU SUITED CONNECTOR WILL BE RESOLVED BY BINDING, INDIVIDUAL ARBITRATION AND NOT IN COURT OR BY JURY TRIAL. IF A DISPUTE IS ARBITRATED, YOU GIVE UP YOUR RIGHT TO PARTICIPATE AS A CLASS REPRESENTATIVE OR CLASS MEMBER ON ANY CLASS CLAIM YOU MAY HAVE AGAINST SUITED CONNECTOR INCLUDING ANY RIGHT TO CLASS ARBITRATION OR ANY CONSOLIDATION OF INDIVIDUAL ARBITRATIONS.
If a dispute arises, you and we agree to try for 60 days to resolve it informally. If no resolution results from this informal process, you and we agree to binding individual arbitration before the American Arbitration Association (“AAA”) under the Federal Arbitration Act (“FAA”), and not to sue in court in front of a judge or jury. As an alternative, a neutral arbitrator will decide and the arbitrator’s decision
will be final except for a limited right of appeal under the FAA. Class action lawsuits, class wide arbitrations, private attorney-general actions, and any other proceeding where someone acts in a representative capacity aren’t allowed. Nor is combining individual proceedings without the consent of all parties.
You agree that the Arbitrator will have sole and exclusive jurisdiction over any dispute you have with us. The Federal Arbitration Act allows for the enforcement of arbitration agreements and governs the interpretation and enforcement of the agreement to arbitrate.
If any provision of this Arbitration Agreement is found to be invalid or unenforceable, then that specific provision shall be of no force and effect and shall be severed, but the remainder of this Arbitration Agreement shall continue in full force and effect. No waiver of any provision of this Arbitration Agreement will be effective or enforceable unless recorded in a writing signed by the party waiving such a right or requirement. Such a waiver shall not waive or affect any other portion of this Agreement. This Arbitration Agreement will survive the termination of your relationship with us
Indemnification: You agree to indemnify and hold Suited Connector, its subsidiaries, affiliates, agents, shareholders, officers contractors, vendors, employees, and service providers harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your use of this site/service, the violation of this Agreement by you, or the infringement by you, or other user of this site/service using your computer, of any intellectual property or other right of any person or entity. Suited Connector and its Service providers assume no responsibility whatsoever for such content or actions. Suited Connector reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you.
to additional terms and conditions that may apply when you use other services, affiliate services, third party content or third party software.
Changes to Site or Terms and Policies: We reserve the right to change any information, feature or functions of our site/services without prior notice. We may deny you access to the site/services for any reason without prior notice if you engage in any conduct or activities that we determine, in our sole
discretion, violate these Terms, our legal rights or the legal rights of any third party or are otherwise inappropriate. We are not responsible for any errors or delays in providing the site/services whether caused by errors in the registration information you provided by any technical problems in our system.
Date last revised: March 1, 2018
1.0 Our Commitment to Privacy
a. Suited Connector, LLC respects the importance of consumer information security and personal privacy. Further, Suited Connector, LLC is committed to handling a consumer’s information in a secure environment. Therefore, we have made it a critical focus to protect the confidentiality and security of the personal information you provide us.
2.0 The Information We Collect
a. We or our client network/vendors may collect two types of information: Personally Identifiable Information (“PII”) and Non-Personally Identifiable Information (“Non-PII).
b. PII - PII is information that identifies a specific user of the Services and is provided by the user.
c. When you engage in certain activities on the Services, such as when you register to use the Services, you may be asked to provide certain information about yourself that we will collect and store. This information may include, but is not limited to: first and last name, physical address, email address, phone number and other information specific to the product you have expressed interest in.
d. Depending on what activity you are engaged in, some of the information that may be requested will be identified as mandatory or as voluntary.
e. If you do not wish to provide the mandatory information for a particular activity, you will not be permitted to engage in that activity.
f. You do not have to engage in the activities in which we ask you to provide such information. But if you choose to do so, additional information may be requested, such as your first and last name, gender, email address or date of birth.
g. We log Internet protocol (IP) server addresses for system administration purposes and catalog traffic patterns through the Sites. This information may or may not be linked to a consumer’s personal information at our discretion.
h. Non-PII: Non-PII is information that identifies your computer and its navigational patterns through the Services (but not a specific user).
i. We may automatically collect Non-PII information when you visit the Services, through the use of a variety of tools including cookies (small text files that are stored on a user’s computer for record-
keeping purposes and which contain information about that user’s computer), or other available data analysis or collection technologies.
3.0 How We Use and Share Information
a. We use the information we collect to (a) provide, maintain, and protect the Services; (b) notify you of promotions, special events, new services and special offers, for example, through e-mails; (c) tailor our product offerings, customer service and overall experience; (d) improve the content, operation, appearance and utility of the Services; (e) conduct surveys, research and evaluations; (f) troubleshoot and resolve disputes; (g) gather demographic data and (h) accomplish other administrative tasks.
c. Cross-Device Advertising and Tracking: Suited Connector, LLC may collect and use the above mentioned data for cross-device advertising purposes. This process allows consumers to experience a personalized, informative advertisement that targets specific product interests over multiple devices. The information may also be used for analytics, and reporting purposes such as an advertisement effectiveness and overall campaign success.
Suited Connector, LLC may implement cross device advertising and tracking through two methods:
1. We may use a deterministic approach which may identify and track consumers across devices through identifying characteristics such as a consumer login account. This information may also be used to connect data across different devices.
2. We may also use a probabilistic method which may identify and track consumers through an IP address and the utilization of cookies. This information may also be used to connect data across different devices.
These methods allow information about your use of websites or applications on your browser or device to be combined and used with information from your other browsers or devices. I.e. Your tablet and cell phone. This enables delivery of advertisements or informational data to your multiple devices.
d. Push Notifications/Alerts: We may use push notifications and alerts to notify you of services and/or products that you have expressed interest in on multiple devices. If you no longer wish to receive these types of communications, you may turn them off at the device level. To ensure you receive proper notifications, we may need to collect certain information about your device such as operating system and user identification information. You may opt-out of push notifications or alerts through your browser settings.
e. Third Parties: When you register with the Sites, you explicitly authorize us to share your information with our client network/vendors so that they may contact you via email, SMS, telephone and/or direct mail. Specifically, at registration you agree to receive autodialed or prerecorded calls (including to mobile numbers) and texts and emails from Suited Connector and its affiliates, partners,
and vendors to the phone numbers (including mobile numbers) and email addresses you provide to Suited Connector today or in the future and to any phone numbers or email addresses subsequently associated with you by Suited Connector or its affiliates or marketing partners, affiliates or vendors. Message and data rates may apply. You understand and agree that your consent is not a condition, directly or indirectly of a purchase.
Suited Connector will share the personal information that you provided with our network of clients including but not limited to: mortgage bankers, mortgage brokers, credit consultants, insurance brokers or any other business in our network that may be related or unrelated to the service or product you have expressed interest in. As a result, different types of businesses unrelated to your inquiry may be provided your information and may contact you.
Your information, including your PII, may be sold to client network/vendors. We may also sell your information, including your PII to other affiliated companies, and with other vendors and business partners. Some business partners include companies who provide business services to us or on our behalf, such as to market products or services to you, monitor Services activity, help to maintain our customer database, and administer e-mails, surveys or other contests.
f. Opt-Out: If you decide that you are no longer interested in receiving SMS or email communications from us, you may follow the instructions in our SMS or emails to unsubscribe from our email list or by emailing us at: firstname.lastname@example.org. If you wish to opt-out of disclosure and to be excluded from our mailing list, please email us at: email@example.com. As to communications from our client network/vendors, affiliated companies, vendors and business partners, please follow the instructions to opt-out in those entities’ communications.
g. Legal Compliance/Other Information Disclosure: We also reserve the right to disclose your information in good faith as required by law, in response to legal process including law enforcement requests, and with any person or entity that may acquire all or any part of our business or assets, in connection with any change in control of us, and where needed to prevent fraud and to protect the safety, property, or legal rights of users of the Services or our affiliates. We may also disclose your information to manage and protect our information technology infrastructure and security. We may also disclose your information for any other purpose with your consent. We may share non-PII at any time for any purpose.
4.0 Unsubscribe, Opt-Out or Revoke
5.0 Third Party Information Collection/”Do Not Track”
With respect to Ad Servers: To try and bring you offers that are of interest to you, we have relationships with other companies that we allow to place ads on our Site. As a result of your visit to our Site, ad server companies may collect information such as your domain type, your IP address and clickstream information. For further information, consult the privacy policies of the companies representing the ads or http://www.google.com/privacy_ads.html.
Third parties with whom we partner to provide certain features on the Site or to display advertising based upon your web browsing or application activity use Flash cookies and HTML5 to collect and store information. Various browsers may offer their own management tools for removing HTML5. To manage Flash cookies, please click here: http://www.macromedia.com/support/documentation/en/flashplayer/help/settings_manager07. html
“Do-Not-Track” is an optional browser setting that allows you to express your preferences regarding tracking by advertisers and other third-parties. We do not currently respond to Do-Not-Track signals.
If you wish to limit the collection of information by us or third party partners to provide you with advertising based upon your website browsing activities and interests, you may click [http://preferences-mgr.truste.com] to opt out. To opt out of targeted advertising on your mobile device, iOS users can click here: https://support.apple.com/en-us/HT205223 to learn how to limit ad tracking and Android users can click here: https://support.google.com/ads/answer/2662922?hl=en to learn how to opt out of interest-based ads. Please note that opting out of interest-based/targeted advertising does not limit all advertising. You will continue to receive generic advertisements.
6.0 Privacy Policies of Third Parties
c. We are not responsible for the policies or practices of third parties.
7.0 Editing and Requesting Your Information
a. We will permit you to change your profile settings. Even after you remove your information from your profile, copies of your information may remain viewable elsewhere to the extent it has been shared with others or it was copied or stored by other users. We may also be required to retain your information by law or for legitimate business purposes, such as to prevent identity theft or other misconduct.
b. We will permit you to request a copy of your PII that we have collected about you by emailing us at firstname.lastname@example.org.
c. You can also correct factual inaccuracies in this information by emailing us at email@example.com.
8.0 Storage and Security
a. We will retain PII, including user location information, only as long as our business needs require. We will then destroy or render unreadable any such information upon disposal.
b. We believe the security of your information is a serious issue and we are committed to protecting the information we receive from you. We use commercially reasonable security measures to protect against the loss, misuse and alteration of your information under our control.
c. Depending on site requirements, we may employ Secure Sockets Layer (SSL) encryption technology to transmit data between a consumer’s browser and our web server. To use our websites, a consumer will need an SSL-capable browser such as MS Internet Explorer 4.0 (or higher) or Netscape Navigator 4.0 or higher.
d. We require that client network/vendors handle consumer information under confidential conditions.
e. Notwithstanding such security measures, please be aware that no security measures are perfect or 100% secure, and we cannot guarantee the security of any information transmitted to or from the Services.
f. Although we have agreements and vetting procedures in place for third parties, We are not responsible for the actions of any third parties that may receive any such information.
g. You should note that the security of your personal information also depends on you. Please do not communicate any information to us through unsecured channels, such as when you are in public areas. Where we have provided you or you have chosen a password, access code, or similar security feature, you must keep the password, access code or security feature confidential. Please do not share your password with anyone. If you believe your password or account has been compromised, please contact us immediately at firstname.lastname@example.org.
9.0 Minors and Privacy Issues
a. Children’s Online Privacy Protection Act- This site is intended to be used by people the age of 18 and older. We do not knowingly allow any users under the age of thirteen to use our service. However, if you become aware of the existence of a user who is under the age of thirteen, or that an individual under thirteen has provided their information to us, contact us immediately with details at email@example.com. If you have been reported as being below thirteen by another person, we may request that you verify your age to us, including providing us a copy of your photo ID as a condition of your continued use of our service.
b. No part of the Services is designed to attract anyone under the age of 18.
c. Children under the age of 18 may not use the Services.
d. If you are a parent or guardian and believe that your child under the age of 13 has provided personal information to us, you may contact us to request this information be deleted.
d. If a change would authorize the use of your PII for a new or materially different purpose, then we will send you an email notification. It is your responsibility to ensure that we have a current, working email address on file for you.
11.0 Contact Information
b. For more information about protecting your privacy, you may wish to visit: http://www.ftc.gov.
Date last revised: March 1, 2018
The VA loan program is not new, it has been around for years. What *is* new for 2019 is a few things that may help more Veterans get into VA loans or lower their interest rate if they currently have a VA loan. Here are just a few things that are "new" about the VA loan program in 2019:
2019 Loan Limits Announced - Same as FHFA Loan Limits
The 2019 Loan Limits (Effective January 1, 2019) for VA loans are the same as the Federal Housing Finance Agency's limits. Be sure to check your county for 2019 loan limits: http://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
VA does not set a cap on how much you can borrow to finance your home. However, there are limits on the amount of liability VA can assume, which usually affects the amount of money an institution will lend you. The loan limits are the amount a qualified Veteran with full entitlement may be able to borrow without making a downpayment. These loan limits vary by county, since the value of a house depends in part on its location.
The basic entitlement available to each eligible Veteran is $36,000. Lenders will generally loan up to 4 times a Veteran's available entitlement without a down payment, provided the Veteran is income and credit qualified and the property appraises for the asking price."
Lenders Expanding Guidelines
The VA does not lend money, it only insures the loan made by the lender against default. The VA has a set of guidelines that loans must meet, but lenders also have their own set of guidelines (often called overlays) that many may assume come from the VA.
One of the requirements for the VA loan program that many lenders have is a minimum credit score. A minimum credit score is not officially required by the VA.
While not all lenders may require a minimum credit score, many lenders will require a minimum credit score in order to qualify for getting a VA loan.
It is important to note that it is entirely possible that one lender would require a minimum 680 credit score and another would require a minimum credit score of 620 and a third a minimum of 580.
The trend seen among many lenders is the lowering of the minimum credit score they require. Some lenders don't even require a minimum credit score.
This means if you have been turned down for a VA loan in the past, it may be possible for you to get a VA loan now - even though you have the same credit score as when you were turned down.
Because different lenders have different credit score requirements, we encourage you to shop many different lenders.
Reports Say VA Loans Save You More Money
According to data being compiled by industry experts, Veterans who get a VA loan statistically pay less for their loan. According to Ellie Mae (a software company whose software is popular in the mortgage industry) VA mortgage rates routinely beat the market rates by three-eighths of a percentage point ... or more.
Other Related Important VA Loan Information:
If you are a Servicemember or Veteran with a permanent and total service-connected disability, you may be entitled to a Specially Adapted Housing (SAH) grant or a Special Housing Adaptation (SHA) grant. http://www.benefits.va.gov/HOMELOANS/adaptedhousing.asp
Most popular questions and answers about VA loans: http://www.blogs.va.gov/VAntage/17636/top-questions-va-home-loans-housing-grants/
Still Have Questions?
If you still have questions about the VA loan program, the best thing you can do is speak with a licensed mortgage professional at a VA approved lender. Reminder - each lender may have slightly different guidelines so our best advice is to speak with multiple licensed mortgage professionals who work at different lenders.