The VA loan is a mortgage that requires no money down for Veterans and current active military members that have met their time in service requirements. The VA does not issue the loan, but they determine the eligibility of its members. The VA loan is backed by the Department of Affairs and issued by privateContinue reading “Best VA Loans”
Author Archives: guillermo caraveo
Mortgage Insurance
What is mortgage insurance? Mortgage insurance is insurance that protects a mortgage lender against borrower default, death, or if the borrower is unable to meet their contractual obligations on the mortgage. Mortgage insurance can refer to PMI (private mortgage insurance), qualified mortgage insurance premium (MIP), or mortgage title insurance. If there is a loss onContinue reading “Mortgage Insurance”
VA Loan Eligibility
VA loans are used by thousands of service members every day. The loans are issued by private lenders and are backed by the U.S. Department of Veteran Affairs. Here are the requirements necessary to qualify for the VA loan: You are on active duty and have served 90 continuous days. You are a veteran whoContinue reading “VA Loan Eligibility”
House Hacking
A few days ago, I was on realtor.com looking for a possible investment property. The benefit of owning a property is that it can be used to generate cash flow. Turning the property into a revenue generating asset may require a bit of creativity and ingenuity. One of the ways that a property owner canContinue reading “House Hacking”
Air Force Loan Repayment Program
If you attended college and have student debt, the U.S. Air Force has a student loan repayment program to encourage you to enlist into the U.S. Air Force. Unlike the Navy Loan Repayment Program and the Army Loan Repayment Program, which repays loans up to $65,000, the U.S. Air Force caps the amount that itContinue reading “Air Force Loan Repayment Program”
The 1% Rule
The other day, I was on Realtor.Com analyzing properties. One of the ways I analyzed the property was to use the 1% Rule. The 1% Rule is a corollary to the 2% Rule in real estate. It is an analytic tool that measures how well a rental property will cash flow. The rule states thatContinue reading “The 1% Rule”
The 2% Rule
It is not unusual for me to get online and analyze properties. I was recently on Realtor.Com and analyzed a few properties using the 2% Rule. The 2% Rule is a quick analytic tool used to measure how well a rental property will cash flow. Under the rule, the rents on the property are dividedContinue reading “The 2% Rule”
Public Service Loan Forgiveness Program
There is a loan repayment program if one is employed full-time by a federal, state, local, or tribal government. The program is also applicable to non-profit organizations as well as Americorps and Peace Corps volunteers. Labor unions, for-profit organizations, and political organizations are excluded from the program. It is called the Public Service Loan ForgivenessContinue reading “Public Service Loan Forgiveness Program”
Air Force Judge Advocate General Loan Repayment Program
One of the recruiting tools used to recruit lawyers in the Air Force is the Judge Advocate General (JAG) Corps Loan Repayment Program. In order to qualify for the program, the candidate is expected to meet the requirements to be a JAG Corps officer. Generally, this means that the candidate holds a Juris Doctor (JD)Continue reading “Air Force Judge Advocate General Loan Repayment Program”
Army Loan Repayment Program
Although I was able to pay off my student loans using the Navy Loan Repayment Program, it was not the only enlistment program that was tailored to paying off student debt. The Army also has a program tailored to paying off student loans. It’s a great way to not only pay off debt, but alsoContinue reading “Army Loan Repayment Program”