Articles and news about VA loans and HUD requirements. VA loans are a great way to buy a home with no down payment.

Monthly Archives: August 2010

Can a VA Borrower Lease their Home Instead of Selling it?

Can a VA Borrower Lease their Home Instead of Selling it?

It’s an excellent option for those who really want to unload the property…but before VA homeowners get too excited about this notion, I have to remind VA borrowers about the “primary occupancy” rule. When you apply for a VA home...

VA Occupancy Requirements

VA Occupancy Requirements

VA requirements for getting approved for a VA mortgage include something called the Primary Occupancy rule—something I’ve touched on in previous blog posts. In a nutshell, VA requirements include the borrower living in the home as their main residence. That’s...

VA Loans and Spouse Income: Child Support, Alimony and Community Property

VA Loans and Spouse Income: Child Support, Alimony and Community Property

In my previous post about spouse income and VA home loans, I discussed the Equal Credit Opportunity Act, which prohibits a lender from asking about spouse income. There are a few exceptions to this--the lender can ask about spouse income....

Decoding Military Jargon in VA Loan Rules

Decoding Military Jargon in VA Loan Rules

The Department of Veterans Affairs lists the eligibility dates for veterans by classifying them in and around major conflicts--World War II, Vietnam and the Gulf War. But there’s a lot of jargon in that list and I thought it would...

VA Loans: Who is Eligible and When?

VA Loans: Who is Eligible and When?

One big question on the minds of VA home loan applicants has to do with eligibility. VA loans have been around for a long time, and the program has changed a great deal since the early days. Because of those...

Gulf Oil Crisis: VA Urging Mortgage Companies to Help Affected Veterans

Gulf Oil Crisis: VA Urging Mortgage Companies to Help Affected Veterans

What some veterans might not realize is that they can get counseling and information from the VA regardless of whether or not they have a VA home loan. Conventional borrowers eligible for VA benefits should also take advantage of the...

VA Refinancing for a Delinquent Mortgage (Part 2)

VA Refinancing for a Delinquent Mortgage (Part 2)

In my last blog post I wrote about the VA Interest Rate Reduction Refinancing Loan or IRRRL for short. Also known as a VA-to-VA loan or Streamline Refinancing, this is a VA loan requiring no credit check or underwriting. (Some...

VA Refinancing for a Delinquent Mortgage (Part 1)

VA Refinancing for a Delinquent Mortgage (Part 1)

When a first-time home buyer applies for a VA mortgage, the last thing in the world they’re expecting to deal with is going into loan delinquency, default or even foreclosure on the home. Real estate agents want their clients to...

VA Loan Rules on Termites

VA Loan Rules on Termites

Just because the home isn’t in a known termite zone doesn’t mean a termite issue doesn’t exist. If the appraiser spots the problem, it becomes something that must be corrected as per VA regulations. When an inspection is needed, the...

More on VA Grants for Disabled Home Loan Borrowers

More on VA Grants for Disabled Home Loan Borrowers

The VA’s 2101 (b) grant is used to offset the cost of adding specially adapted housing features to a home the disabled veteran already owns. It can also be used to pay the actual cost of such features already installed...