A resolution introduced in the U.S. House over the summer could mean major savings for Veteran homebuyers and homeowners if Congress ultimately gets on board. The resolution from Rep. Blaine Luetkemeyer (R-Mo.) calls on lawmakers to stop funding Veterans’ benefits on the backs of other Veterans. In recent years, Congress has hiked fees associated with … Read more

Table of Contents Will Disabled Veterans Get a VA Pay Increase In 2024? 2023 and 2024 VA Disability Compensation Rate Charts Veteran Only VA Disability Rating: 10% – 20% (No Dependents) VA Disability Rating: 30% – 60% Without Children VA Disability Rating: 70% – 100% Without Children VA Disability Rating: 30% – 60% With Children … Read more

The VA home loan is a well-known benefit created to assist Veterans, active-duty service members and surviving spouses in achieving homeownership. The process of securing a VA-backed mortgage might seem overwhelming for some eligible borrowers. However, The Military Wallet is here to help! Whether you’re a first-time homebuyer or have navigated the real estate market … Read more

Military families have access to VA loans, which are one of the most beneficial mortgage options in the country for homebuyers. VA loan benefits include $0 down payment, no PMI and borrower-friendly credit requirements. Beyond that, VA loan rates are incredibly competitive, unlocking the potential to own a home for millions of military personnel and … Read more

In 2020, the Department of Veterans Affairs eliminated loan limits for service members and veterans who had their full loan entitlements. For those who only have a partial entitlement, the loan limit increased in 2023. The new maximum loan guarantee is $726,200 in most counties, an increase of $79,000 from the previous loan limit. The … Read more

Luckily, VA non-allowable fees protect Veteran and military homebuyers from facing excessive homebuying costs. The VA limits what borrowers are allowed to pay during the closing process, ensuring VA loan borrowers can secure a home without facing an immense financial burden. In this article, we’ll explore the VA non-allowable fees, their implications and how they … Read more

Getting a VA appraisal is a necessary step when purchasing a home with a VA loan. A VA appraisal establishes the market value of the property and confirms it meets the minimum property requirements (MPRs) set by the VA. More importantly, VA appraisal requirements protect the well-being of Veterans, ensuring their purchase of a safe … Read more

If you’re using a VA loan to finance your home purchase, it’s important to understand how earnest money may factor into this transaction. You may have heard this term–also known as a good faith deposit–throughout the homebuying process, especially in a competitive market. But what exactly is earnest money, and how does it apply to … Read more

Table of Contents Why Does the Government Shut Down? What Happens if the Government Shuts Down? Will Military Members Get Paid During a Government Shutdown? Most Recent Government Shutdowns and Impact on Military Pay & Benefits: Other Ways a Government Shutdown May Impact Pay & Benefits Will Federal Employees Get Paid During a Government Shutdown? … Read more

Congratulations! You’ve found a home you’d like to purchase, and your loan is being processed. The next step in your homebuying journey is the VA appraisal.  A VA appraisal is necessary to ensure that the property is reasonably priced and meets certain standards. In fact, all homes financed with a VA loan are required to … Read more