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: September 2010

VA Cash-Out Refinancing Vs. IRRRL

VA Cash-Out Refinancing Vs. IRRRL

There are several kinds of VA home loans available to qualified applicants, but in a tough economy some of the most popular are refinancing loans. The reasons for that are fairly obvious but what does the VA have to offer...

VA Loans: Is there a Minimum Time in Uniform Requirement for Active Duty Members?

VA Loans: Is there a Minimum Time in Uniform Requirement for Active Duty Members?

Active duty service members have different requirements for establishing eligibility for a VA loan than their Guard or Reservist counterparts. As mentioned in our previous blog post, the VA requires active duty military members to supply a current statement...

VA Loans: Military Housing Allowances as Verifiable Income

VA Loans: Military Housing Allowances as Verifiable Income

VA mortgages, energy-efficient VA mortgages, and cash-out refinancing loans guaranteed by the VA have something in common. While the loans themselves may differ, these VA loans all require the borrower to certify income, debt-to-income ratios, and related data. A current...

VA Loan Quiz: Vendee Financing Program

VA Loan Quiz: Vendee Financing Program

It’s time for another VA Loans quiz to test your knowledge of VA rules & regulations. This time, we’re covering VA-owned properties for sale. Many people don’t realize the VA owns repossessed properties that eventually go back on the market. ...

VA Appraisals and the Borrower’s Responsibilities

VA Appraisals and the Borrower’s Responsibilities

We in the VA loan business—real estate agents, lenders, brokers, and property inspectors, etc.—throw around terms that can be a bit misleading to the new VA borrower. One of those terms is the word “inspection”. A VA...

VA Loan Help for Conventional Borrowers

VA Loan Help for Conventional Borrowers

Sometimes, the worst happens. A veteran gets out of the military, applies for a VA home loan and purchases the property, only to find a few months or a year later that they’ve lost a job or had...

How to Avoid Misleading Advertising for VA Loans

How to Avoid Misleading Advertising for VA Loans

As I mentioned in my last post, one of the most obvious tactics is dressing up an existing program such as the VA’s Interest Rate Reduction Refinancing Loan or IRRRL as a “new” product. But some advertising doesn’t stop there....

VA Loans: After the Sale

VA Loans: After the Sale

VA borrowers shopping for their first home aren’t always thinking down the line—sometimes they’re just happy to get through the first-time home buyer process and put off thinking about the future of their new home for another day. But when...

VA Loans, Property Values, and Natural Disasters

VA Loans, Property Values, and Natural Disasters

There are VA requirements that must be met when the home has been damaged by a natural disaster (in an official disaster area as declared by the President and recorded by FEMA). The home must be re-inspected, the lender and...

Natural Disasters and VA Loans

Natural Disasters and VA Loans

With Hurricane Earl in the news so much this week, I thought it would be appropriate to write something about the Department of Veterans Affairs policy on natural disasters. The most important initial aspect of the VA policy on loans...