A Certificate of Eligibility (COE) is issued by the Department of Veterans Affairs (VA) to indicate that the recipient is eligible for a home loan guaranteed by the agency.
A nominal fee charged by the Department of Veterans Affairs to those receiving a mortgage guaranteed by the VA, which helps to fund the VA loan program.
GI Loan, often referred to as VA Loan, is a U.S. Department of Veterans Affairs program that provides home loan benefits to eligible veterans, service members, and their families, helping them buy, build, repair, retain, or adapt a home for personal occupancy.
A high-ratio mortgage is a loan that requires a smaller percentage of down payment, typically covering more than 80% of the property's value. Such loans often necessitate mortgage insurance to mitigate risk.
The Loan-To-Value (LTV) Ratio is a financial term and calculation that lenders use to express the ratio of a loan to the value of an asset purchased. It plays a crucial role in the assessment of risk associated with lending, especially in real estate.
A VA Loan or Mortgage is a home loan guaranteed by the U.S. Department of Veterans Affairs (VA) typically available to eligible veterans, active-duty service members, and certain members of the National Guard and Reserves.
