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: December 2011

VA Announcement on Loan Modification Regulations

VA Announcement on Loan Modification Regulations

VA Circular 26-11-22 was issued on December 23 to announce final changes to the rules for modifying VA insured home loans. The instructions were previously issued as an "interim final rule" but since that time, the Department of Veterans Affairs...

VA Loan Minimum Property Requirements For Electrical Systems

VA Loan Minimum Property Requirements For Electrical Systems

When buying a home with a VA insured mortgage loan, the property must meet a set of minimum property requirements as spelled out by the Department of Veterans Affairs. This raises many questions for home buyers and potential VA loan applicants....

VA Interest Rate Reduction Refinancing Loans: Who Can Get Them?

VA Interest Rate Reduction Refinancing Loans: Who Can Get Them?

For those with VA home loans considering a refinancing loan in the new year, there are several options available from the Department of Veterans Affairs. There are cash-out refinancing loans and Interest Rate Reduction Refinancing loan (IRRRL) options. In many cases...

VA Loan Appraisal Fees: How Much Are They?

VA Loan Appraisal Fees: How Much Are They?

Appraisals are required on VA loans for new purchase homes and some types of refinancing. When a house hunter is trying to plan a budget for a new home purchase, knowing the appraisal fees can be a big help. Many readers...

Do VA Loans Require Pre-Purchase Counseling?

Do VA Loans Require Pre-Purchase Counseling?

First-time home buyers often realize they have much to learn about the VA loan process and home buying in general. Fortunately, the Department of Veterans Affairs has help available from regional loan centers, but there are also other agencies such...

Reader Question: Refinancing Loans for Conventional-to-VA Transactions

Reader Question: Refinancing Loans for Conventional-to-VA Transactions

A reader question came in over the holiday weekend asking about refinancing to a VA mortgage from a conventional loan. The reader asks, "I would like to refinance my Conventional loan to a VA loan. What are the procedures?" Thanks to the...

VA County Loan Limits for 2012 Posted

VA County Loan Limits for 2012 Posted

Earlier this year we reported on the Department of Veterans Affairs addressing possible changes to its VA loan maximum loan limits in October. According to the VA official site, "The Veterans’ Benefits Improvement Act of 2008 provided a temporary increase...

VA Loan Funding Fee Exemptions Part Two

VA Loan Funding Fee Exemptions Part Two

In our last blog post, we discussed VA loan funding fee exemptions and how those exemptions must be verified by the lender. Thanks to changes in how the Department of Veterans Affairs processes VA Loan Certificates Of Eligibility, lenders can...

Verifying VA Loan Funding Fee Exemptions

Verifying VA Loan Funding Fee Exemptions

When a borrower is exempt from paying the VA loan funding fee, or anticipates becoming exempt because of pending compensation for VA recognized disabilities, there's a specific procedure used by the lender to verify that exemption.

In September of 2011, those...

VA Loan Funding Fees–Who Is Exempt?

VA Loan Funding Fees–Who Is Exempt?

Changes to the VA loan funding fee structure as of November 22, 2011 have raised a great many questions. Borrowers naturally want to know about the status of any legislation that could potentially add or subtract thousands of dollars to...