ARCHIVED BLOG POSTS
2010
3
Comments
When a buyer applies and is approved for a VA home loan, they’re counting on a variety of things in life to remain the same or improve. Nobody makes a financial investment thinking that their job could be eliminated, a family member could develop serious health issues or any other situation that ...
09/30/2010
1
Comments
Federally-assisted housing programs such as the Department of Housing and Urban Development’s FHA loan program or the Department of Veterans Affairs VA home loan program would seem to be common knowledge. Bankers, real estate agents, government agencies and military bases all have plenty of liter...
09/30/2010
1
Comments
Every so often, the Department of Veterans Affairs issues sanctions against a lender or group of lenders for violating VA regulations. One set of regulations lenders are required to follow in order to be qualified to issue VA home loans? Fair Housing laws. These were passed as part of the Civil R...
09/29/2010
In our last few posts we’ve discussed the types of properties eligible to be appraised by the Department of Veterans Affairs for a VA home loan. One type of property we haven’t discussed up til now on this issue? Manufactured homes or mobile home properties. Mobile homes are also eligible for VA ...
09/29/2010
If you want to buy a property with a VA home loan, it must first be given a VA appraisal. Before that can happen, the lender must determine whether the home meets the criteria--not every property is eligible to be given a VA appraisal to determine its fair market value. In our last post, we looke...
09/28/2010
In order to be approved for a VA home loan, a property for sale must go through a VA appraisal. But not all properties are automatically eligible to be appraised by the VA. The Department of Veterans Affairs has a list of properties that are eligible for appraisal. It may sound like a formality t...
09/28/2010
1
Comments
There’s been a lot of discussion here lately about VA fees, charges and who pays those costs. For charges the borrower must pay, what does the Department of Veterans Affairs allow the borrower to build into the loan and what must the buyer pay out of pocket? VA regulations make it impossible to a...
09/27/2010
The Department of Veterans Affairs has many safeguards to protect VA loan applicants from predatory lending, from being enticed to apply for a more expensive loan than the borrower can realistically afford, and now from signing a VA loan contract without knowing their closing costs.Effective on a...
09/27/2010
When a veteran or active duty service member applies for a VA home loan, a process begins that costs a fair bit of money above and beyond the amount the seller offers for a particular property. The VA loan funding fee is one such cost, and there are others; the buyer may be required to pay a titl...
09/24/2010
2
Comments
How does the VA loan funding fee work? It might seem a bit redundant to talk about the procedure after a couple of blog posts about who is exempt and who pays and how much, but understanding how the process works can be very important---how does the buyer know the funding fee has been correctly c...
09/24/2010
Rainmaker
475,198
475,198
Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide