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: May 2011

Your VA Loan Benefit: The Basics

Your VA Loan Benefit: The Basics

VA loans are a benefit for military veterans and currently serving soldiers, sailors, airmen, and marines. While the Department of Veterans Affairs places a minimum time-in-service requirement in order to be eligible for the loan, once that time-in-service milestone has...

A VA Loan Option Active-Duty Military Should Know

A VA Loan Option Active-Duty Military Should Know

One of the first things a first-time home buyer learns about VA loans is the occupancy requirement. VA rules state the buyer must purchase the home to use as a primary residence, otherwise the loan cannot be approved. Current military...

VA Announces Help For Veterans Affected by Missouri Tornadoes

VA Announces Help For Veterans Affected by Missouri Tornadoes

The Department of Veterans Affairs has made a lot of disaster relief announcements in the spring of 2011. So many that the Department of Veterans Affairs has released a "generic" announcement directing vets in need of help in the wake...

The VA Loan Credit Application and Supporting Documentation

The VA Loan Credit Application and Supporting Documentation

The Department of Veterans Affairs has strict rules for lenders when it comes to approving a VA loan application. One set of instructions to VA approved lenders includes a list of items to require or check when underwriting the VA...

VA Loans: What Are Compensating Factors?

VA Loans: What Are Compensating Factors?

Veterans who apply for VA home loans may worry about their ability to qualify because of credit ratings, debt-to-income ratio, or other factors. Some worry without reason, others know they have higher debt loads but aren't sure what the VA's...

VA Loans and Land Purchases

VA Loans and Land Purchases

A typical house in the suburbs is what many first-time home buyers may picture when thinking about buying a home using a VA insured mortgage. But the Department of Veterans Affairs respects the great diversity in the real estate market--there...

VA Cash-Out Refinancing Loan Basics

VA Cash-Out Refinancing Loan Basics

There are a variety of options VA borrowers have when it's time to consider refinancing a home loan. One of those options is the VA cash-out refinancing loan. Those who have examined this option in the past may not be...

How the Lender Examines Your Applicatio​n Data

How the Lender Examines Your Applicatio​n Data

When a vet or current military member fills out an application for a VA home loan, there are a lot of requirements--the borrower must provide income data, residency information (past and present), answer questions about occupancy intent and submit to...

Refinancing a Delinquent VA Home Loan

Refinancing a Delinquent VA Home Loan

VA borrowers who get into trouble with their VA mortgages have several options if they act quickly and don't allow their VA loans to become seriously delinquent. The Department of Veterans Affairs encourages borrowers to anticipate financial trouble, get in...

What Is A Subsequent Use VA Loan Funding Fee?

What Is A Subsequent Use VA Loan Funding Fee?

Veterans who want to use their VA home loan benefits are required to apply for a Certificate of Eligibility from the Department of Veterans Affairs. This certificate, also known as a COE, shows the lender the borrower is indeed approved...