ARCHIVED BLOG POSTS
2013
A reader asks, "Will the VA follow the new guidelines the FHA has changed as of this August? The name of it is listed down below. this came down on August 15--FHA Back To Work Program Waives Foreclosure, Bankruptcy, And Short Sale Waiting Periods: If you’ve experienced any of the following finan...
08/29/2013
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A reader asks, "Can the wife of a retired veteran with 21 years of air force reserve duty apply for a VA loan from his VA entitlement if he has never used it yet? With good credit history? They are still married." The rules for applying for VA loan eligibility for a new purchase VA loan include ...
08/29/2013
A reader asks, "I have a home now, not financed through the VA, I want to put that house up for sale and purchase another house through the VA Loan, do I have to sell my home first or will the VA let me purchase the home, while my first home is still for sale. I will be living in the home purcha...
08/28/2013
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The VA Loan Funding Fee is one of the expenses of getting a VA loan. All VA loan applicants pay this fee unless they are exempt because the receive or are eligible to receive VA compensation for service-connected medical conditions. For new purchase home loans, there is a VA loan funding fee tabl...
08/27/2013
In recent weeks we've fielded several questions from readers about VA loan refinancing with the VA Interest Rate Reduction Refinancing Loan, also known as a VA Streamline Refinance or IRRRL. There are many situations where a borrower might need to apply for a VA IRRRL and initiate a change from t...
08/26/2013
A reader asks, "My wife has moved out, but will not agree to remove her name off deed. What need to know is what can I do in refinancing the VA loan since her name is not signed for the loan, in which the payment statements only come in my name? I do not want to walk away from my loan agreement, ...
08/25/2013
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We've received a great deal of questions lately about VA loan occupancy requirements. There are plenty of myths, rumors, and half-truths floating around about the nature of VA loans and the occupancy requirement. What do VA loan rules actually say about the law on occupancy and what does a future...
08/22/2013
In our last blog post we examined the acceptable purposes for a VA loan as described in VA Pamphlet 26-7, the VA Lender's Handbook. The VA has a detailed list of acceptable purposes for a VA loan. But in the same way that the VA has described what it allows a VA loan to be used for, it also has a...
08/21/2013
For those who have never used a VA loan before, there can be some misunderstanding about the VA loan program in general. Some of our most commonly asked questions involve what kinds of loans the VA is willing to guarantee. Some want to know if the VA will insure a personal loan, a cash-out or hom...
08/21/2013
A reader asks, "I feel like the home I’ve purchased with my VA loan is too big for us right now and I’d like to consider getting into something more our size. I don't want to sell it because when we start having kids it will be perfect. I’ve lived in the house for over a year and under one year a...
08/21/2013
Rainmaker
475,198
475,198
Bruce Reichstein
FHA / VA One-Time Close Loans - Nationwide