Bruce Reichstein's (brucereichstein) Blog

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Mortgage and Lending - www.OneTimeClose.com
RECENT BLOG POSTS
A reader asks, "My son and his wife are interested in buy a home. I have VA eligibility. Can I use my VA and help my son purchase a home, or do I have to reside in the house too?" VA loan rules are not designed to allow a borrower to purchase a home for someone else. The veteran or currently serv...
06/30/2013
Water supply and water quality issues are among some of the most frequently asked-about topics when it comes to VA appraisals. While many homes purchased with a VA loan are typical suburban properties or condos, not all of them are--some properties are served by aquifers, wells, or even cisterns ...
06/27/2013
Refinancing your existing VA home loan may be simpler than you thought if you're applying for a VA Streamline Refinance Loan. Streamline refinancing, also known as a VA Interest Rate Reduction Refinancing Loan or IRRRL, has no VA-required credit check or appraisal. While this type of refinancing ...
06/27/2013
We get many questions about VA appraisals. Some of the most common topics include whether or not a property will pass the appraisal in spite of certain unique characteristics of the land it's situated on or because of access to the home via of rural roadways or even dirt roads. Every appraisal si...
06/25/2013
A reader asks, "I had a VA appraisal done two weeks ago. The appraiser told me he had been an appraiser for 15 years. He seemed to know what he was doing but when I asked him if he wanted me to climb the ladder and remove the attic vent so he could look in the attic he told me that he did not hav...
06/23/2013
A reader asks, "I am trying to buy a house. It was a single wide but was rebuilt and doubled in size. When they appraised it 6 years ago they classified it as a house, not a trailer." "I have went to several websites for a loan and they all tell me that since it started out as a single wide they ...
06/20/2013
A reader asks, "I am a disabled veteran so Can I use my exemption from VA fees again?" While the reader does not mention the VA loan funding fee by name, it's safe to assume he or she is talking about the VA loan funding fee (as opposed to closing costs, VA appraisal fess and other requirements a...
06/19/2013
A reader asks, "My Mom and Dad bought their last home on VA. Now that my Dad has died of natural causes can my mom still get a VA loan?" The first thing any borrower or potential VA loan applicant should do when dealing with these types of questions is to contact the Department of Veterans Affair...
06/18/2013
The Department of Veterans Affairs has issued VA Circular 26-13-11, which announces mortgage relief and other information for those with VA mortgages who are affected by the fire in Colorado Springs, Colorado. According to the circular, "Directly affected by the Colorado Springs fire are those wh...
06/18/2013
In May of 2013, nearly a full month ago at the time of this writing, the Department of Veterans Affairs released a VA Loan Circular announcing disaster relief for VA borrowers who were victims of the Oklahoma tornadoes. That circular stated, "Directly affected by Oklahoma’s severe storms and torn...
06/17/2013
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Bruce Reichstein

VA / FHA Construction Lending / Nationwide
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