Your Guide to VA Home Loan Benefits
Whether you’re a veteran, active-duty service member, or military family, get expert guidance from eligibility to closing and make the most of your VA benefits.
Meet The VA Loan Boss
Mark Clark is a civilian benefit and certified VA loan specialist . VA loans are incredibly powerful but also widely misunderstood. His job is to cut through bad advice, explain the rules clearly, and make sure veterans and active-duty service members actually receive the full benefit they’ve earned.Mark is known as the Veteran Mortgage Wingman here to serve, advocate, and help VA buyers avoid costly mistakes from contract to closing and beyond.
Whether you're a veteran purchasing your 3rd home on your VA benefit or PCSing and a first-time homebuyer, our team has you covered.
Education is central to how Mark does that, including teaching VA-focused classes for real estate professionals so VA buyers are better represented throughout the transaction.Outside of work, Mark is married, a proud father of six, and loves to play racquetball and pickleball.
Mark also serves as the the Board Chair for Genesis Joy House, Georgia’s only all-women Veteran homeless shelter because serving those who served doesn’t stop at the closing table.
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Braselton, Georgia.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
Bankruptcy Short Sale or Foreclosure Does Not End Your VA Home Loan Benefit and Here Is Why
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2 year wait not 4. Mark Clark explains how veterans can use VA loan again after bankruptcy or foreclosure.
The Question Veterans With Past Credit Events Ask More Than Almost Any Other
If you have had a bankruptcy, a short sale, or a foreclosure involving your VA home loan does that mean the benefit is gone? Can you ever use your VA loan again?
The short answer is no. It does not end the benefit. And the timeline for getting back in is shorter than most veterans have been told.
The Two Year Wait That Most Veterans Do Not Know About
There is a common belief in the veteran community that the waiting period after a bankruptcy, short sale, or foreclosure is four years. Some lenders cite that number. Others say ninety days under certain circumstances. The technical answer from the VA guidelines is two years.
Two years from a bankruptcy discharge. Two years from a short sale. Two years from a foreclosure completion. That is the waiting period that governs when you can use your VA home loan benefit again in most scenarios.
If you were told four years and it has been more than two years since your event it is worth having a fresh conversation with a lender who understands the VA guidelines at a deep level.
The Two Paths Back to Using Your VA Benefit
There are two ways to approach using the VA loan again after one of these events and understanding the difference matters.
The first path is restoring your basic entitlement. If the VA paid out on your short sale, foreclosure, or bankruptcy-included home loan you can repay the VA what they paid out and restore that basic entitlement to its full original state. Once restored it is available for your next purchase just as it was originally.
The second path is using your second-tier entitlement without touching the basic entitlement at all. If you have sufficient remaining entitlement in your second-tier allocation you can simply use that for your next purchase and leave the basic entitlement with the prior event attached. You move forward without having to repay anything and without waiting for a restoration process to complete.
As Mark Clark explains this second option is one that many veterans do not know exists and it is often the faster and simpler path back to using the benefit.
A Note on Chapter 13 Bankruptcy
Chapter 13 bankruptcy operates under different guidelines than Chapter 7 and the rules for VA loan eligibility after a Chapter 13 are covered separately. If your situation involved a Chapter 13 that is a different conversation with its own specific timeline and requirements worth discussing directly.
What to Do If You Have Had One of These Events
Do not assume your VA benefit is permanently unavailable because of a past financial event. Reach out to Mark Clark with the details of your situation and find out where you actually stand under the current VA guidelines. The answer may be significantly more favorable than what you were told before.
Sources
VA.gov
MilitaryOneSource.mil
MortgageNewsDaily.com
ConsumerFinancialProtectionBureau.gov
Investopedia.com
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