Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com

ARCHIVED BLOG POSTS

2012 

Shopping around for a VA home loan is a very good idea. But if you’re a newcomer to the home loan market, it’s easy to wonder if a particular financial institution is operating in good faith. One reader asks, “Is (lender name removed) a legitimate outfit? They seem to be ‘with the VA’, but I can’...
01/31/2012
Borrowers who have VA home loans have an option to apply for either VA cash-out refinancing or VA streamline refinancing loans. But what about borrowers who are currently in conventional loans who want to refinance to a VA mortgage? One reader asks, “We would like to refinance from conventional l...
01/31/2012
A reader asks, “I am an unemployed vet; Can I use my wife’s income to obtain a VA Loan to purchase a home?” This is a difficult question. If interpreting it as asking, “Can my spouse apply for the VA loan?” the answer would depend on whether the spouse is an eligible veteran or not. If the spouse...
01/30/2012
VA home loans aren’t intended strictly for suburban homes. Just as there are a wide variety of housing available, there are VA loans for many of those different types; you can apply for a VA loan to buy a town home, mobile home, duplex, even a condominium unit. In the case of VA condo loans, ther...
01/27/2012
In a recent post we covered VA loan fees and expenses the lender is permitted to charge the borrower. One of the reasons the VA describes these fees and expenses is that lenders are not permitted to issue certain charges to the borrower as those expenses are already paid for by something called t...
01/26/2012
VA loans, like all home loans, come with a variety of fees and expenses that are a natural part of doing business. These fees and charges can add up, and borrowers new to the VA mortgage loan process soon learn they need to save and budget for these expenses in the same way those in the market fo...
01/26/2012
In recent days, we’ve gotten several reader questions about VA loan refinancing, credit qualifying, and appraisals. One of the big questions concerns VA Interest Rate Reduction Refinancing Loans or IRRRLs. Readers are sometimes confused when they are told their VA IRRRL requires a new credit appl...
01/25/2012
A lengthy reader question came in recently about VA mortgages, short sales and compromise claims: “My husband received orders to PCS in August and we have had our house on the market for the amount we owe plus realtor fees, but to no avail. We have tried to contact to VA to get information on a s...
01/24/2012
One common reader question centers around VA home loan refinancing. There are a variety of VA refinancing options available–qualified borrowers can choose from cash-out refinancing and the VA’s Interest Rate Reduction Refinancing Loan (IRRRL) options. One reader asks, “Where can I get a VA refina...
01/24/2012
Over the weekend, a reader left the following in our comments section: “Is there a way to obtain a list of VA assumable home loans, and or is there a site for VA foreclosures?” VA home loans are assumable, which means the borrower may allow another person to take over payments and have the proper...
01/23/2012
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Bruce Reichstein

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