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 2012

VA Loans, Income Verification Rules, and Military Pay

VA Loans, Income Verification Rules, and Military Pay

When a VA loan applicant who is still on active duty wants to apply for a VA mortgage, the lender requires a current copy of the borrower's Military Leave And Earnings Statement or LES as proof of income. The LES...

Remembering Our Veterans On Memorial Day

Remembering Our Veterans On Memorial Day

Today we take a pause from our usual discussions about VA loans, appraisals, and reader questions to remember our men and women in uniform who have given so much. Memorial Day is a time to reflect on what our troops...

What is the VA Loan “No Accomodation” Rule?

What is the VA Loan “No Accomodation” Rule?

When it's time to start the VA home loan process, the borrower fills out an application, submits to a credit check, and has employment and income verified. First time home buyers feel a lot of scrutiny with that first home...

VA Loan Appraisal Fees and Timeliness Requirements

VA Loan Appraisal Fees and Timeliness Requirements

One of the most frequently asked questions about VA home loans is a two-parter. "How much do VA appraisals cost and how long do they take?"

Unfortunately, there's no set answer to either--VA appraisal fees vary depending on the market you're...

VA Cash Out Refinancing Loans and Credit Scores

VA Cash Out Refinancing Loans and Credit Scores

A reader asks, "What does my credit score have to be to be able to refinance my home with cash out? What of the three scores are looked at?"

When it comes to credits scores for VA guaranteed home loans, the...

Selling a Home Purchased With a VA Home Loan

Selling a Home Purchased With a VA Home Loan

Some of our reader questions involve the ability to sell the home. Does having a VA guaranteed home loan restrict the borrower from selling the property? VA officials are asked this often enough to include it in a list of...

Condo Eligibility For VA Appraisal and Loan Approval

Condo Eligibility For VA Appraisal and Loan Approval

Some of the most common questions about VA condo loan approval have to do with condo project approval and appraisals of condo units. Some borrowers who want a VA guaranteed home loan for a condominium unit don't know the VA...

Is My VA Home Loan Eligible for the Bank of America Principal Reduction Program?

Is My VA Home Loan Eligible for the Bank of America Principal Reduction Program?

The HUDddle, an official blog found at the Department of Housing and Urban Development, recently linked to a news story at a website called Commercial Appeal regarding Bank Of America’s loan reduction program. According to the blog post, “More than...

VA Loan Reader Questions: Refinancing Rules For Divorced, Non-Veteran Borrowers

VA Loan Reader Questions: Refinancing Rules For Divorced, Non-Veteran Borrowers

A reader asks, "My sister is a cosigner on a VA loan based on her husbands eligibility. She is now divorced and the house was given to her in the divorce agreement. She received part of her husband's...

VA Loan Reader Questions: Non-VA Short Sales

VA Loan Reader Questions: Non-VA Short Sales

A reader asks: "Is it true that if you have a short sale but you don’t miss any payments on your current mortgage that you can get a VA loan immediately after the sale? Here’s a quick rundown of my situation....