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 2011

VA Loans, Refinance Loans, and Misleading Advertising

VA Loans, Refinance Loans, and Misleading Advertising

When you buy a home with a VA insured loan, you may or may not be thinking about refinancing that loan at some point down the line. Some borrowers walk into a certain type of home loan such as a...

VA Loan Minimum Property Requirements: Are There Exceptions?

VA Loan Minimum Property Requirements: Are There Exceptions?

The Department of Veterans Affairs has a set of standards for all properties to be purchased with a VA-insured home loan. The VA will not approve loans for buildings or property that doesn't meet its Minimum Property Requirements (MPRs). For...

How To Get a Certificate of Eligibility For a VA Loan

How To Get a Certificate of Eligibility For a VA Loan

Before a qualified borrower can apply for a VA insured home loan, the applicant must have a Certificate of Eligibility (COE) issued by the Department of Veterans Affairs. This process used to take much more time when it was only...

VA Loans and Income Verification: Foster Care Income

VA Loans and Income Verification: Foster Care Income

A recent reader comment raises a very good question. One reader asks, "I am a foster parent...in the process of trying to get a VA loan, and was just told that they would not accept the foster reimbursement as income....

VA Loans, Loan Modification and Lender Participation

VA Loans, Loan Modification and Lender Participation

Since the housing market crisis of 2008, there have been many programs set up to help borrowers avoid mortgage loan default and/or foreclosure. Some programs apply to those with VA home loans, some are for FHA borrowers and/or conventional home...

Getting Started With a VA Loan

Getting Started With a VA Loan

The Department of Veterans Affairs offers the VA loan program to qualified military members, retired and/or separated veterans, and in some cases family members. The program is designed to help those who have served in the military purchase affordable housing with...

VA Loan Funding Fees and Exemptions After October 1, 2011

VA Loan Funding Fees and Exemptions After October 1, 2011

Recently we reported on the VA announcement that VA loan funding fees would decrease on October 1, 2011. According to VA Circular 26-11-12, "For loans closed on or after October 1, 2011, the fee for subsequent use loans with less than...

VA Streamlines Funding Fee Exemption Process

VA Streamlines Funding Fee Exemption Process

Recently we've written about VA loan funding fee exemptions--any qualified veteran receiving disability compensation from the Department of Veterans Affairs is exempt from paying the VA loan funding fee. In such cases, the veteran is exempt based on documented, VA-recognized...

VA Loan Rules For Termite Inspections

VA Loan Rules For Termite Inspections

In some areas, termites and other wood-destroying pests are a serious problem. House hunters often worry about the condition of older homes when it comes to termites, and in some cases rightfully so. How can the buyer tell with the...

VA Loans For Manufactured Homes–Still Available?

VA Loans For Manufactured Homes–Still Available?

Many borrowers are interested in VA loans for manufactured homes as opposed to the traditional suburban house. Unfortunately at the time of this writing, some lenders are not offering VA loans for mobile homes or manufactured homes. This is due...