ARCHIVED BLOG POSTS
2012
We get a lot of reader questions asking the same type of question; “Can I do XY or Z with a VA guaranteed home loan?” In some cases, the borrower wants to know whether a certain type of property can be purchased with a VA guaranteed home loan–for example, a farmhouse or condo. In others, the buye...
06/28/2012
A reader asks, “My husband is a veteran and our first home was purchased on a VA loan – we have paid off the loan and now own the home. We are interested in purchasing a second home nearby as our primary residence and will be renovating our first home prior to selling. Will we be eligible for a V...
06/27/2012
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Some of the most common questions about the VA appraisal process involve the things an appraiser might write up as needing corrections as a condition of VA loan approval. Some borrowers–and sellers–are confused by areas listed in the VA Minimum Property Requirements (MPRs). For example, why is pe...
06/27/2012
A reader asks, “We had a VA appraisal performed on the home that we are purchasing with a VA loan. However, the VA appraiser is not providing anyone with some corrections that need to be performed. The bank tells us that they are not permitted to talk with him. So who is the appraiser permitted t...
06/26/2012
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We get plenty of reader questions about VA loans, including queries about interest rates. One of the most frequently asked questions–“What is the interest rate on a VA home loan?” According to the Department of Veterans Affairs, the VA “no longer prescribes interest rates for VA-guaranteed loans....
06/25/2012
A reader asks, “I’m trying to understand the process of buying a home with a VA loan. Do I go and find the house that I like first and then apply? Who specifically do I talk to for the loan? I am a Gulf War era veteran and want to buy a first time home. I need help with this process.” There are d...
06/24/2012
A reader asks, “Can VA disability payments be considered as income, also I’ve read somewhere that VA loans to disabled vets are different.” VA loans for veterans with VA-recognized disabilities are different because the Department of Veterans Affairs allows these vets to apply for a waiver of the...
06/22/2012
VA Loans have specific requirements for credit, income, and employment. When it comes to the VA’s employment requirements, the rules state the lender must verify a VA loan applicant’s employment status according to what has been listed on the application. The lender does this by contacting or oth...
06/20/2012
A reader asks, “How long do you have to occupy the home for? (i.e. what if you move after 6 months?) Do you have to sell/refinance the home or can you rent it with the VA loan still on it?” One way for a borrower to properly understand the rules in this area is to study the language of the occupa...
06/19/2012
For VA guaranteed mortgage loans, there are lists of items which may be included in the loan amount. Many borrowers want to know which things are permitted to be financed as part of the VA loan and which must be paid up front. For example, what are the borrower’s options when it comes to the VA f...
06/19/2012
Rainmaker
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475,098
Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide