home loans for disabled veterans, va loans, HomePromise,

Home Loans for Disabled Veterans

Understanding VA loans and the great benefits they offer disabled veterans is a hard subject matter to tackle alone. Seeing whether you qualify to waive the VA funding fee, how your disability compensation helps your income, and how you qualify for a VA home loan are some of the most commonly asked questions disabled veterans have when applying for a VA loan. Our HomePromise experts are professionally trained to help guide you through these important financial decisions. 

What are the VA Home Loan Benefits for Disabled Veterans?

There are many VA home loan benefits available to veterans who qualify, including no money down, no monthly mortgage insurance, options for lower credit scores, limits on closing costs, and competitive interest rates. Many think that these VA home loan benefits are one-time benefits, but this is not true. These VA home loan benefits are benefits for life. 

Disabled veterans are eligible to receive added VA home loan benefits on top of the ones already explained above. These benefits include property tax exemptions, disability compensation benefits for added income, special housing grants, and exemption from the VA funding fee. 

Property Tax Exemptions for Disabled Veterans

Property tax exemptions can help disabled veterans reduce the amount of real estate taxes they owe each year. Looking further into your eligibility for property tax exemptions and credits may help save you thousands of dollars when purchasing a home.

Real estate tax laws can change, each state has different criteria for qualification, and the amount of benefits you receive is typically proportionate to your disabled status. 

Real Estate tax laws are complicated, and it’s best to consult with a professional to review your eligibility for property tax exemptions. Our HomePromise professionals are expertly qualified to provide a thorough review of you’re the available property tax exemptions and how they affect qualifying for a VA loan. Call us today to schedule your appointment at 800-720-0250.

Disability Compensation Benefits for Veteran Income

One of the most common questions about disability compensation for veterans is whether or not this helps your income when applying for a VA loan. When disabled veterans apply for a VA mortgage, you still need to follow the normal process for documenting your income. However, you can use your disability compensation as part of your income when applying for a VA mortgage. The higher the income, the greater chance you have of getting a mortgage. 

Are Disabled Veterans Exempt from the VA funding fee?

Disabled veterans, surviving spouses of veterans who passed away from service-connected medical issues, and active-duty service members who have a Purple Heart may all be exempt from the VA funding fee. This means that veterans who are currently getting disability benefits are usually able to waive the VA funding fee saving you thousands of dollars. 

Being eligible to waive the VA funding fee helps disabled veterans save thousands of dollars in closing costs when purchasing a new home or refinancing their current one. Even if you close on your loan before you start to receive benefits, you may be eligible to have your VA funding fee returned to you if you were in the middle of applying for disability at the time. 

Our VA home loan experts can help guide you through understanding how your VA disability can save you money on your VA funding fee.

How do Disabled Veterans Qualify for VA Loans?

Veterans must meet some requirements before they can become eligible for VA loans and all the benefits they provide. The most common form of documentation required by VA lenders is a Certificate of Eligibility, commonly referred to as a COE. The majority of veterans have to meet the following criteria before applying for a VA loan: 

  • National Guard
  • Served more than 6 years
  • Active Service During Peacetime
  • Served for 181 days
  • Active Service During Wartime
  • Served for 90 consecutive days


The qualification rules for a VA loan are hard to figure out. At HomePromise, our VA home loan professionals are expertly trained to handle your questions. Contact our experts today at 800-720-0250 to receive a free quote. 

Are There Grants Available to Help Disabled Veterans? 

In addition to the benefits for disabled veterans when financing a home through a VA loan, disabled veterans may also qualify to receive specific grants to help with accessibility modifications to a home. The Special Housing Adaptation (SHA) and the Specially Adapted Housing (SAH) grant are two grants that may be available for disabled veterans with a service-connected disability rating from the VA. 

Each grant provides their own benefits for disabled veterans, including building a home with modifications for the veteran’s disability, remodeling the veteran’s current home to meet their disability requirements, changing a home that the veteran intends to purchase in order to meet the needs of their disability, and more. You can find out more about housing grants on the VA website here.

If a disabled veteran isn’t eligible for either of these grants, another option available to them is a VA refinance designed to take money out of your home for home improvements. In addition to a grant, a VA refinance may be helpful if the work the veteran needs done is greater than the grant will allow. To help navigate these options, call our HomePromise experts today at 800-720-0520. Our VA loan professionals will provide you a free quote quickly and easily. 

How Does Disability Compensation Contribute to VA Home Loan Applications?

In order to qualify for a VA loan, the veteran must have a reliable source of income that is likely to continue into the future. As disability compensation is expected to continue for disabled veterans, this income source counts toward your qualifying income when applying for a VA loan. Veterans who receive disability compensation from the VA are able to count this as income when completing a VA loan application. Putting your disability compensation toward your income can help you meet VA loan income requirements. 


HomePromise is a flexible and compassionate lender approved with the U.S. Department of Veterans Affairs to provide VA home loans. The HomePromise approach takes into account the unique needs of each veteran and their families. Our HomePromise experts will review your credit score, credit history, and income sources to see if you qualify for a VA loan. 

In addition to over-the-phone and in-person, our flexible services also include the ability to apply online. Our VA loan experts are here to provide you expertise to help you navigate these important decisions. Call us at 800-720-0250 to receive a free quote from one of our experts today. 








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Can I get a VA Loan if I Don’t have a job

Can I get a VA Loan if I Don’t have a job?

VA lenders have to consider your sources of income when applying for a VA loan.  Having a job can be a big plus as a loan applicant for a VA mortgage but it isn’t required.  The VA home loan program allows lenders to look at other sources of income.  In fact, some VA lenders can even turn your assets into income to qualify for a VA loan application.  So, having a job isn’t a requirement if you find a lender who can work with your other income sources.  The key is to find a flexible VA lender who knows how to work through the complicated VA lending rules.

Can I Use Part Time Income to Qualify for a VA loan?

Some service members are worried that a part-time job can’t be used for a VA mortgage application.  You may have been told that only full time income is allowed.  That’s not true in all cases.  The key is how your lender does the verification of income when they review of your employment history.  A part time job can be used as qualifying income but there are some special rules that a VA loan expert will help you navigate.  An expert review of your pay stubs will also be important to be able to use part time income.  If you call one of our VA loan experts at 800-720-0250 you can find out if your part time job can be used for a VA loan application.

Using VA Disability Income to qualify for a VA loan

A helpful source of income for some veterans is from a VA service-connected disability.  Some lenders will allow you to use a special calculation of your disability income to increase the income amount to a level higher than is used by other VA lenders.  This increase (some call it a “gross up”) is very important to get you the most income from your VA disability.  This approach to VA disability income worries some lenders so they make the income lower than is allowed by the VA.  If you have lower income allowed from your VA disability, then you might get denied for a VA loan when you shouldn’t be.  If you don’t have VA disability income yet but you think you might be eligible for it, you can find out how to submit a VA disability claim on the VA website here.

Get an Expert Review of your Tax Returns

An expert review of your tax returns may uncover income that some VA lenders may overlook.  Tax returns are very complicated and not all lenders are experts and reading them.  You may find that you can get approved for a VA loan using income that can be uncovered in your last two years of federal income tax returns.  A VA home loan expert at HomePromise can do that review for you and give you feedback to see if income can be found to use for a VA loan.  Give us a call at 800-720-0250 to get an expert review of your tax returns.

Other Kinds of Income

There are other kinds of income that can be used for VA home loans including retirement income, social security income, your spouse’s income, a family member’s income and investment income.  These each have some VA lending rules that have to be used to determine if they are acceptable and how much of these income sources can be used.  If these income sources come in on a monthly basis then you should discuss them with a VA lender as an alternative income source.

Get Expert Advice Today

HomePromise is a flexible lender approved with the US Department of Veterans Affairs to make VA home loans.  The HomePromise approach is not a rigid approach but one that takes into account your special circumstances.  At HomePromise, we will review your credit score and credit history along with your income sources to see if you qualify for a VA loan.  Call us at 800-720-0250 for help today.

Apply Online

Save time by applying for a surviving spouse VA loan online with HomePromise. We have VA loan experts waiting to help. 


can a surviving spouse get a va loan, Get A VA Loan With A 580 Credit Score

Can A Surviving Spouse Get A VA Loan, can a surviving spouse use va loan, surviving spouse va home loan, VA loan Surviving Spouse, eligibility requirements

Can A Surviving Spouse Get A VA Loan

We are often asked, can a surviving spouse get a VA loan. The answer is yes. This is because the department of veterans affairs allows the extension of the VA home loan benefit to surviving military spouses.

The VA home loan benefit program is designed to help surviving spouses of veterans and military service members who died while in service or from a service connected disability.

You may be eligible for this benefit if your spouse died during active duty or due to a service related disability.

Surviving Spouse Eligibility Requirements

For a surviving spouse to become eligible for a VA loan one must meet at least one of the following eligibility requirements:

  • You are eligible if you are the unmarried surviving spouse of a veteran who is missing in action or who was a prisoner of war (POW).
  • If you are the surviving spouse of a veteran or military member, who died during active service or from a service related disability and didn’t remarry before December 16, 2003 or before age 57.

You may also be entitled to surviving spouse benefits if the veteran’s death did not result from a service-related cause. Listed below are the conditions for eligibility.

  • The Veteran who was totally disabled for ten or more years directly before death.
  • A Veteran rated totally disabled for five or more years after immediate separation from service.
  • As a former prisoner of war, the veteran was totally disabled for at least one year preceding death after September 30, 1999.

Certificate Of Eligibility (COE) For Surviving Spouse

Your eligibility for a VA loan requires proof to verify your status as a surviving spouse. Before applying for VA guaranteed mortgages, you must obtain a Certificate of Eligibility (COE).

For a military spouse to qualify, you must submit a copy of the Veteran’s DD214. For more information about any compensation you receive, call one of our VA loan experts at 800-720-0250.

You can apply for your eligibility online with the VA or save time by having HomePromise obtain it for you.  Call 800-720-0250 for more help.

VA Loan Benefits For Surviving Spouses

As a surviving spouse you are entitled to use your VA home loan more than once. Once you purchase a home you may have remaining eligibility to purchase a new home. Many think you can’t use your benefit a second time but often you can. 

The rules and calculations for using your benefits again are complicated. You can call our VA home loan experts for help at 800-720-0250.

There are many benefits to using the VA home loan program that are extended to surviving spouses like:

  • Do not need to pay a funding fee
  • Competitive interest rates
  • Less rigid credit score requirements
  • No down payments for most loans
  • 100% cash out refinancing
  • No mortgage monthly insurance

To find out if you qualify please call 800-720-0250.

Apply Online

Save time by applying for a surviving spouse VA loan online with HomePromise. We have VA loan experts waiting to help. 


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3 Myths About VA Loans And Bad Credit

Accounting for only 2 percent of all mortgages for decades, VA loans now consume 10 percent of mortgage volume today.

While the VA has made many changes in recent years to the VA home loan benefit program, sellers and borrowers still remain hesitant about home loans backed by the Department of Veterans Affairs. So, in this article let’s discuss the top 3 myths about VA loans and bad credit.

Top Benefits Of A VA Loan

Some may argue the so-called “ups” and “downs” of VA loans. But, As a Veteran or active military member looking to purchase a home, VA loans are of huge benefit so at HomePromise we want to clear up some myths. Fact is, this type of loan is almost always your best option.

There are many benefits in using your VA home loan benefit. Here are three to begin with:

  1. There is no mortgage insurance.
  2. You can purchase a home without having a down payment.
  3. The VA does not require any specific credit score.

The main downside to VA loans is not truly based on fact. It’s more of a myth. That is some sellers believe the closing process on a VA loan will take much longer than on a conventional loan. This just is not the case.

As for other myths about VA loans and bad credit, we will discuss the top 3 myths causing hesitation among some people. We will share the facts in an effort to debunk these myths. 

Myth 1. Certificate of Eligibility Takes Forever

As a veteran, you must meet the basic eligibility requirements in order to become a VA borrower. The most basic requirement for a VA loan is either serving 90 consecutive days during wartime or a minimum of 181 days active duty during peacetime. National Guard or Reserves members must have served at least six years to qualify. Also note that National Guard and Reserve service can’t be inactive.

The myth about this process taking forever is drawn upon past years when the verification process required the mailing of a letter to the VA.  In today’s world with the internet there is no longer such a lengthy waiting period. Lenders like HomePromise can now often verify your eligibility via the internet in minutes. So, myth #1 is debunked!

Myth 2. VA Loan Rates Are Higher Than Other Loan Programs With Bad Credit

VA loans have a number of advantages to both veterans and active military members. This type of home loan requires no down payment. And to date, the VA does not specify a minimum credit score for eligible borrowers. With no down payment, the entire process can be faster than any conventional loan offered.

In addition to a potentially quicker buying process,  VA borrowers with low or bad credit scores can usually enjoy rates lower than those available on conventional loans. That’s because low rate conventional loans stop at credit scores of 640 or 620.  So, if your credit score is under 620 you’ll have to get a hard money conventional loan which will usually have a really high rate..

Myth 3. Higher Default And Foreclosure Rate

It’s true most lenders deny loan applications for those with bad credit. This is due to a higher risk of defaulting and foreclosure. Truth be told, VA loan borrowers default on their loans less than FHA loans, which have similar low down payment guidelines. In fact, VA loans have had lower default rates than FHA loans for more than a decade.

Many have attempted to explain reasons why VA loans have lower delinquency and default rates than FHA loans.  We won’t get into that debate here but this third myth is definitely one that everyone should agree is false.

Call 800-720-0250


Why And How To Refinance Your Mortgage, homepromise, va loans

Why Refinance Your Mortgage?

When you refinance your mortgage it replaces your current mortgage loan with a new one. People refinance for many reasons. Some people refinance their mortgage to reduce the interest rate and save money, reduce their monthly payments or perhaps consolidate credit card debt. By cashing in on your home’s equity, one can stay ahead of financial goals. You might choose to refinance your home as a means to pay off your home loan faster. Another reason to refinance your mortgage might be to switch from an adjustable-rate mortgage to a fixed-rate loan.

As you can see, there are many beneficial reasons to refinance your mortgage. Read on to learn more about why and how to refinance your mortgage.

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How To Get A VA Loan With A 580 Credit Score

The VA home loan benefit makes owning a home possible for Veterans, active service members and surviving spouses. Unlike conventional loans, The Department of Veterans Affairs doesn’t require a specific credit score. You still want to avoid having bad credit because VA lenders will still look at your credit history and may deny you based on severe credit events in your past. It’s very important to discuss your credit history with a VA lending expert at 800-720-0250.

VA loans require this! So, while having bad credit or a low credit score doesn’t mean you’ll be denied a VA loan, a higher score may help keep your interest rate down. This will allow for more affordable payments over the life of the loan. You may also enjoy buying a home without having to make a down payment.

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VA Loan Guide

In this article, we’ll walk you through the basics of VA lending. We’ll talk about your VA benefits, down payments, mortgage insurance, credit requirements, closing costs, and VA loan limits. If you have questions about how to get a VA loan or cash out refinance, or how VA loans are different from regular loans, read on! We’ll do our best to answer your questions, plus direct you to more information about more specific questions you may have.

VA Loan Guide

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Is It Smart to Refinance Now to Pay Off Debt?

Many people feel that their best option to pay off debt may be cashing in on their investments. This often includes their 401k and pensions or other retirement accounts. Of course, this would never be someone’s first choice, but it can feel like there is no other way when trying to pay off credit card debt or pay off high interest debts. But there is good news! It may make sense to refinance your mortgage instead. If you qualify for a VA loan, you have unique options when struggling with debt. You may qualify for a cash-out refinance for up to 100% of your home’s value to consolidate your debts into a new VA mortgage! Getting a cash-out refinance today may be your best option.

Is It Smart to Refinance, Cash Out Refinancing for Home Improvements, VA Cash Out Loan Facts for 2021, homepromise

Should You Do Cash Out Refinancing for Home Improvements or Get A Home Equity Loan?

Are you considering making home improvements this year? Maybe you want to update your decor, redo your deck, or take on a project like a kitchen renovation. You may have been contemplating home improvements for a while, or maybe more time at home during the pandemic got you thinking about ways you can update your house. Either way, you’ll need funding for these projects.

In this article, we’ll explain ways you can use your VA home loan to generate extra income for home renovations. We’ll cover cash-out refinancing, home equity loans (second mortgages), and home equity lines of credit (or HELOCs). Stick around to read about the pros and cons of each of these options, plus our recommendation based on our lending expertise!

VA Cash Out Loan Facts for 2022, homepromise, va loans, va lender

VA Cash Out Loan Facts for 2022

What is a cash-out refinance? A cash-out refinance (or cash-out refi) replaces your current home loan with a new home loan according to the VA home loan program. This new loan equals more than you owe on your home, which means that you get to pocket the difference. So, if you owe $100,000 on your home and you get a cash-out refinance loan, you will receive a loan for more than $100,000. This is great for you! For both military members and Veterans eligible for VA home loan benefits, this type of loan may offer more options for refinancing than conventional loans.

In this article, we’ll explain current information on cash-out refinance loans. Every year is a little bit different, so it’s important to stay up-to-date on the facts about cash-out refinance loans. Read on to learn more!